Danaher (NYSE:DHR) initiated an offer to exchange nearly 130 million shares of common stock of its dental business spinout Envista (NYSE:NVST). In the exchange of up to an aggregate of 127,868,000 shares of Envista stock, which is listed at $27.70 per share in midday trading today, for each $100 of Danaher common stock accepted, approximately $107.53 of […]
Envista beats on earnings, misses on revenues with first quarterly report
Envista (NYSE:NVST), the Danaher (NYSE:DHR) dental spinout, today post third-quarter results that beat the consensus forecast on earnings but missed the revenues mark, in its first quarterly report since going public last month. Brea, Calif.-based Envista put up profits of $62.1 million, or 48¢ per share, on sales of $659.3 million for the three months ended Sept. […]
The 10 largest medical device companies in the world
The merger of the French lens manufacturer Essilor with Italian eyewear maker Luxottica boosted the new EssilorLuxottica into the top 10 of the Big 100 list of largest medical device companies in the world — produced by our sister site Medical Design & Outsourcing. Overall, consolidation continues to play a major role in shaping the […]
Danaher dental spinout Envista prices $589m IPO
Envista (NYSE:NVST), the dental business spinout from Danaher (NYSE:DHR), yesterday priced its initial public offering at $589 million, sending its overall valuation well above the $3 billion mark. The spinout, announced in July 2018, will unite the Nobel Biocare, KaVo Kerr and Ormco dental brands under the Envista umbrella. The nearly 26.8-million-share flotation, at $22 per share, is for […]
Danaher dental spinout Envista preps $600m IPO
The dental business spinout at Danaher (NYSE:DHR), Envista, is gearing up for a $600 million initial public offering this week. The spinout, announced in July 2018, will unite the Nobel Biocare, KaVo Kerr and Ormco dental brands under the Envista umbrella. The newly public company, which employs some 12,000 workers, is headquartered in Brea, Calif. Envista […]
Report: “Unglamorous” medtech outshines biopharma in 2019
Medtech merger and acquisition deal announcements slowed in the first half of 2019, but the industry got a boost from Verily’s $1 billion round of funding — the largest ever for a medtech firm. The Verily round was twice the size of the biggest-ever VC deal for a biotech company, according to the Vantage Half-Year […]
Report: Healthcare CEO pay balloons to $2.6B, quality of care not a factor in bonuses
Healthcare chief execs at 177 top companies collectively saw their compensation grow to $2.6 billion last year while quality of care and improvements to healthcare spending remained at most a marginal factor to their pay, according to an Axios analysis. Despite a focus on pharmaceutical CEOs, medical device company chief execs were five of the […]
Danaher’s Q1 beats expectations
Danaher (NYSE:DHR) beat the consensus forecast for its first-quarter sales and earnings, sending its share price up yesterday despite a cut to its full-year earnings forecast and a bottom-line slide. The Washington-based company posted profits of $327.3 million, or 46¢ per share, on sales of $4.88 billion for the three months ended March 29, for a -42.2% […]
GE CEO tables healthcare spinout
General Electric (NYSE:GE) chairman & CEO Lawrence Culp Jr. yesterday tabled the pending spinout of the GE Healthcare business so the industrial conglomerate can focus on the $21 billion sale of its biopharmaceuticals business. Boston-based GE yesterday agreed to deal the biopharm business to Danaher (NYSE:DHR) – which Culp led until 2014 – in an all-cash deal. […]
GE replaces CEO Flannery with ex-Danaher chief Culp | Personnel Moves – October 1, 2018
General Electric (NYSE:GE) said today it named former Danaher (NYSE:DHR) prez and CEO H. Lawrence Culp Jr. as its chair and CEO, replacing John Flannery, effective immediately. The Boston-based company said that alongside the switch in the corner office, it does not expect it will meet its guidance for free cash flow and earnings per share for […]
The 10 largest medical device companies in the world
Medtronic and Johnson & Johnson remain the world’s largest medical device companies. But after that, the roster is radically shifting amid a slew of mergers and acquisitions. In some cases such as GE, Philips and Siemens, major multinationals are breaking apart. We’ve sifted through data from public companies’ annual reports and other publicly disclosed information, […]
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