Kinetic Concepts Inc. (NYSE:KCI) CEO Catherine Burzik, who shepherded the wound care giant through a $6.1 billion leveraged buyout by an Apax Partners-led consortium, plans to step down about 6 months ahead of schedule.
Debt Financing
Standard & Poor’s junks KCI bond rating | Wall Street Beat
Standard & Poor’s relegated Kinetic Concepts Inc.’s bonds into junk status after a consortium led by Apax Partners took the wound care giant private last week.
The rating agency knocked its stance on KCI bonds down four rungs from "BB+" to "B," according to MarketWatch.
Stryker readies $750M notes offering | Wall Street Beat
Stryker Corp. (NYSE:SYK) is readying a $750 million debt offering of five-year senior notes, little more than a week after inking a $135 million deal to acquire Concentric Medical Inc.
The Kalamazoo, Mich.-based orthopedics giant issued another massive round of debt notes early last year, offering $500 million in 5-year notes and $500 million in 10-year notes.
Wall Street Beat: Goldman Sachs raises COV estimate; Nygren shucks JNJ position, adds to BAX
MASSDEVICE WALL STREET ROUNDUP | One of Wall Street’s most notorious names raised its view of Covidien plc (NYSE:COV) today, setting a price target that’s 15 percent above yesterday’s closing price.
Although Goldman Sachs analysts stood pat on their “Buy” rating of the stock, which ended Monday at $52, they raised their price target to $60 and boosted the stock’s earnings estimate, ahead of the company’s plan to buy back up to 5 million shares of its own stock.
COV shares closed up 0.2 percent today at $52.08.
Teleflex: We’re straight-up medical device now
Teleflex Inc. (NYSE:TFX) says it’s a pure-play medical device company now that it’s re-classified its cargo systems business as a discontinued operation, marking the culmination of a years-long transformation.
The Limerick, Pa.-based company also said it paid off $125 million worth of debt ahead of schedule, as it positions itself to grow via acquisition.
Regen Biologics files for bankruptcy
ReGen Biologics Inc. (PINK:RGBO) filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the District of Delaware.