Devicor Medical Products
Cincinnati, Ohio-based Devicor landed FDA approval for its Mammotome revolve biopsy system, a next-generation biopsy system designed to provide high quality tissue specimens while improving the efficiency of pre-biopsy planning time.
Shares of Intuitive Surgical (NSDQ:ISRG) hit an all-time high yesterday of $529.70 and beat it today, as investors sent the shares to $531.35 apiece this morning.
The spikes followed an upgrade by analysts at Lazard Capital, who raised their price target on the stock to $575 from $525 and reinforced their “buy” rating.
Stryker Corp. (NYSE:SYK) named a new international group president to take over as Andrew Fox-Smith resigned from the position to pursue other career opportunities.
Ramesh Subrahmanian takes the role, effective September 1, after having most recently served as senior VP and president, Asia Pacific, for Merck & Co. (NYSE:MRK).
Cancer diagnostics firm Neoprobe Corp. (NYSE Amex:NEOP) gave up more than its radiation detection arm in a recent deal with Devicor Medical Products Inc.; it gave up its name.
The deal, worth $30 million up front and up to $20 million in royalties over the next six years, transforms Dublin, Ohio-based Neoprobe into a pure player radiopharmaceutical company, complete with a new identity.
Covidien Plc. (NYSE:COV) announced a new agreement for a five year $1.5 billion senior unsecured revolving credit facility, secured through subsidiary Covidien International Finance S.A.
The new agreement replaces a prior five-year senior credit facility that was slated to mature in April 2012, and the funds will be allocated for general corporate purposes, including working capital and capital expenditures.
Cancer diagnostics firm Neoprobe Corp. (NYSE:NEOP) sold its Gamma Detection Systems sector to Devicor Medical Products Inc. in a deal that’s worth up to $50 million.
Devicor, based in Pleasant Valley, Wis., agreed to pay $30 million up front and up to $20 million in royalty payments.
Dublin, Ohio-based Neoprobe will get the full royalty payment if Devicor tops $21 million in sales of the devices in the next five years.
The private equity firm behind the purchase of Ethicon Endo-Surgery’s breast care unit from Johnson & Johnson is on its way to raising a $3 billion fund.