Updated Jan. 8, 2019 Medical device company stocks are not looking as rosy as they did two months ago, but the medtech industry still appears to be resisting the overall downward trend in stock markets, according to a Medical Design & Outsourcinganalysis. More than half of the roughly 100 largest medical device companies in the world […]
CryoLife’s Q3 sales, earnings miss forecast
CryoLife Inc. (NYSE:CRY) shares are down today after the medical device maker yesterday reported third-quarter results that missed expectations. The Atlanta-area company posted profits of $1.6 million, or 4¢ per share, on sales of $64.6 million for the three months ended Sept. 30, for a bottom-line gain of 18.1% on sales growth of 46.8% compared […]
CryoLife gains on Q3 prelim beat
CryoLife Inc. (NYSE:CRY) shares ticked up today after it announced preliminary third-quarter sales numbers that beat the consensus forecast on Wall Street. Kennesaw, Ga.-based CryoLife said it expects to post sales of roughly $64.6 million, 4.5% ahead of The Street’s forecast for a $61.8 million top line. “Our third-quarter revenue results were driven by continuing […]
Boston Children’s, Boston Pediatric Device Consortium announces device challenge winners
The Boston Pediatric Device Strategic Partner Challenge recently announced its winners, including cardiovascular devices that expand to keep pace with growing child, a nitric oxide generator, a cardiovascular diagnostic device and other novel pediatric devices. The challenge, run by the Innovation and Digital Health Accelerator at Boston Children’s Hospital and the Boston Pediatric Device Consortium, […]
CryoLife closes $225m acquisition of German graft maker Jotec
CryoLife Inc. (NYSE:CRY) said last Friday it completed its previously announced $225 million acquisition of German stent graft and surgical graft maker Jotec In the deal, Cryolife paid $168.8 million in cash and the remaining $56.26 million in shares of Cryolife. The acquisition was funded through the combination of a $225 million term loan and $30 million […]
CryoLife inks $225m deal for German graft maker Jotec
CryoLife Inc. (NYSE:CRY) said yesterday that it agreed to a cash-and-stock deal worth $225 million to acquire German stent graft and surgical graft maker Jotec. The deal calls for Cryolife to pay $168.8 million in cash and the remaining $56.25 million in CRY shares, financed by a $225 million term loan and a $30 million […]
CryoLife shares down despite Q2 EPS beat
CryoLife Inc. (NYSE:CRY) saw shares fall today despite the medical device maker meeting earnings per share expectations on Wall Street with its 2nd quarter earnings results. The Atlanta-based company posted profits of $3.2 million, or 9¢ per share, on sales of $47.8 million for the 3 months ended June 30 for bottom-line growth of 34.8% while […]
CryoLife accuses On-X Life Technologies of fraud in counterclaim over $10m escrow account
CryoLife Inc. (NYSE:CRY) answered accusations from acquisition On-X Life Technologies that it’s trying to hold on to a $10 million escrow account from their merger last year with fraud charges of its own. CryoLife paid $130 million for On-X in January 2016, including the escrow account, which was meant to cover “On-X’s indemnification obligations relating to its representations and warranties in […]
On-X Life Technologies shareholders sue CryoLife over $10m escrow account
The shareholders of On-X Life Technologies yesterday accused CryoLife Inc. (NYSE:CRY) of trying to hold on to a $10 million escrow account connected with their merger last year. CryoLife paid $130 million for On-X in January 2016, including the escrow account, which was meant to cover “On-X’s indemnification obligations relating to its representations and warranties in the merger agreement,” […]
Medtech stocks: the best and worst of Q1 2017
More than four-fifths of the 100 largest medical device companies in the world saw their stock prices increase during the first three months of 2017, according to a Medical Design & Outsourcing analysis of how the stocks of our Big 100 companies are faring. The situation suggests that even with the uncertainty around what the […]
Siemens US CEO Spiegel to step down, Marks & Davis step up | Personnel Moves November 30, 2016
Siemens (NYSE:SI) said today that its U.S. CEO Eric Spiegel is retiring at the end of the year, with Lisa Davis slated to take the role of chair & CEO of the US-based Siemens Corporation, while Judith Marks will act as Siemens CEO U.S. Both changes are slated to go into effect January 1, 2017, according […]
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