Globus Medical (NYSE:GMED) shares closed up yesterday after the orthopedics company reported preliminary fourth-quarter and 2018 sales numbers that beat the consensus forecast on Wall Street. Audubon, Pa.-based Globus said it expects to post Q4 revenues of $195.5 million and full-year sales of $712.5 million; analysts on The Street were looking for quarterly sales of $188.2 million and […]
Conformis readies $21m private placement
ConforMIS (NSDQ:CFMS) said this week that it inked a deal with Lincoln Park Capital Fund to sell $21 million of shares of the company’s common stock over the course of a 36-month term. According to the terms of the deal, ConforMIS also plans to issue an additional 354,430 shares of common stock to Lincoln Park as […]
Conformis to lay of 10% of workforce
ConforMIS (NSDQ:CFMS) said yesterday that it plans to lay off about 10% of its workforce as it aims to put black ink in the ledger in 2021. Billerica, Mass.-based ConforMIS, which makes customized knee and hip implants, had 350 employees as of Feb. 28, according to a regulatory filing. The cuts are expected to cost about […]
These 10 medtech companies care a lot about research
These 10 medical device companies spent the largest portion of their budgets on research and development. Here’s a look at what they produced. Each year, Medical Design & Outsourcing compiles a list of the top 100 medical device companies across the globe and ranks the companies based on annual revenue for the most recent fiscal […]
ConforMIS claims $11m win in patent infringement case against Smith & Nephew
ConforMIS (NSDQ:CFMS) today claimed a win in a patent infringement lawsuit against Smith & Nephew (NYSE:SNN) over technology for patient-specific knee implants. Bedford, Mass.-based ConforMIS sued the British healthcare giant in 2016 in the U.S. District Court for Massachusetts, alleging infringement of eight patents by Smith & Nephew’s Visionaire cutting guides. Billed as “custom fit,” the Visionaire guides are used with […]
Amazon-Berkshire-JPM healthcare bet taps Comcast’s Stoddard for COO | Personnel Moves, Sept. 10, 2018
Amazon-Berkshire-JPM healthcare bet taps Comcast’s Stoddard for COO The healthcare joint venture started by Amazon (NSDQ:AMZN), Berkshire Hathaway and J.P. Morgan tapped former Comcast executive Jack Stoddard to be its COO, reporting to CEO Dr. Atul Gawande. Stoddard was a co-founder of Accolade, a startup backed by the cable giant that helps workers manage their health […]
Conformis posts Q2 earnings, launches 3D-printed hip system
ConforMIS (NSDQ:CFMS) last week posted second quarter earnings that missed expectations on Wall Street and announced that the first procedures had been performed using its 3D designed and printed Conformis hip system implants. In its earnings release, the Billerica, Mass.-based company posted losses of $14.1 million. or 24¢ per share, on sales of $18.9 million for […]
ConforMIS shares down as Q4, FY2018 earnings show shrinking sales
Shares in ConforMIS (NSDQ:CFMS) have fallen slightly today after the medical device maker posted shrinking sales for its fourth quarter and full fiscal year 2017, despite having topped Q4 losses per share expectations on Wall Street. The Billerica, Mass.-based company posted losses of $11.9 million, or 27¢ per share, on sales of $20.5 million for the […]
ConforMIS prices $20m offering, releases prelim 2017 earnings
ConforMIS (NSDQ:CFMS) today priced an upcoming offering looking to raise $20 million after posting preliminary 2017 earnings yesterday that saw gross profits up from the previous fiscal year. In its offering, the Billerica, Mass.-based company said it is looking to sell approximately 13.3 million shares of common stock at $1.50 per share. The offering also includes a […]
ConforMIS jumps on analyst’s upgrade
ConforMIS (NSDQ:CFMS) shares closed up more than 12% yesterday after a BTIG analyst upgraded his rating on the company, which makes customized knee and hip implants. BTIG’s Ryan Zimmerman raised his rating on CFMS shares from “neutral” to”buy,” setting a price target of $4 per share. Of the 10 analysts covering the stock, six have set “buy” […]
ConforMIS picks up Broad Peak’s polishing & machining assets
ConforMIS (NSDQ:CFMS) said today it acquired the machining and polishing assets of Broad Peak Manufacturing for approximately $6.5 million. Billerica, Mass.-based ConforMIS said it will pay an initial $5.8 million in cash and an additional $750,000 in common stock in the purchase. As part of the acquisition, ConforMIS will integrate approximately 20 employees from the company, […]
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