Cochlear Ltd. (ASX:COH) said an advisory committee to the FDA this week voted favorably on the Nucleus Hybrid L24 implant system, which combines acoustic amplification of low frequencies and electrical stimulation for high frequencies in a single device.
Sorin Group (BIT:SRN) managed to raise its bottom line despite flat sales for 2011 by raising its gross margin via restructuring, posting a profit increase of 48.3% for the year.
The Milanese cardiovascular device maker reported profits of $75.2 million (~€58.0 million) on sales of $963.4 million (~€743.4 million), compared with profits of $50.7 million (~€39.1 million) on sales of $966.5 million (~€745.8 million) during 2010.
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Australian-based Cochlear Ltd. (ASX:COH), the world’s biggest maker of bionic ears, saw stocks drop by nearly 20 percent after a voluntary recall of its popular titanium hearing implants.
Cochlear recalled its Nucleus CI500 range of implants from shelves after an unexplained increase in failures in its CI512 implant model.