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, […]
Danaher to spin out dental biz
Danaher (NYSE:DHR) said late last month it plans to spin off its dental business into an independent, publicly-traded company. The Washington D.C.-based company said that the transaction is intended to be tax-free to Danaher shareholders, and expected to close in the second half of next year. “This is an important step towards realizing even greater […]
FDA clears Danaher’s Leica Microsystem’s FL560 cerebrovascular fluorescence microscope filter
Danaher‘s (NYSE:DHR) Leica Microsystems said yesterday it won FDA 510(k) clearance for its FL560 fluorescence microscope filter designed for visualizing cerebrovascular blood flow when used in conjunction with dye fluorescein. The filter is designed to be integrated into a M530 OH6 neurosurgical microscope to provide real-time, high-contrast visualization of cerebral anatomy in native color and […]
Danaher to buy Cepheid in $4B deal to expand in diagnostics
(Reuters) –Danaher Corp. (NYSE:DHR) said on Tuesday it would buy molecular diagnostics company Cepheid in a deal valued at $4 billion, including debt, to strengthen its diagnostics business. Danaher will pay $53 per share in cash, a premium of 54% to Cepheid’s close of $34.42 on Friday. Danaher, which develops technology for the dental, life […]
Haemonetics taps ex-Medtronic CIO Burke as new CFO | Personnel Moves August 4, 2016
Haemonetics taps ex-Medtronic CIO Burke as new CFO Haemonetics (NYSE:HAE) said this week it tapped former Medtronic (NYSE:MDT) chief integration officer William Burke as its new chief financial officer, effective August 8. Burker operated as CIO with Medtronic since 2015, serving during the integration of Covidien. Prior to that, he held various finance positions with […]
Danaher lures ex-Medtronic legal eagle Ellis for GC spot | Personnel Moves
Danaher (NYSE:DHR) said it lured Brian Ellis from Medtronic (NYSE:MDT) to be its new general counsel, replacing Jonathan Graham, who jumpoed ship for Amgen (NSDQ:AMGN) last May. Ellis was general counsel for Medtronic’s restorative therapies group, after stints as GC and chief compliance officer for monitoring solutions at GE Healthcare (NYSE:GE) “Brian brings a wealth of experience leading and […]
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