A trio of medical device makers collected Pentagon supply deals worth a collective $234.3 million, according to recent Defense Dept. reports.
Nine medical device companies ranging from industry titans to small-cap movers inked a pledge to make the data generated by their devices available to patients, in a move aimed at ridding the healthcare system of unnecessary deaths by 2020.
Sorin Group (BIT:SRN) reported flat sales but strong profit growth for 2011, saying it raised earnings by 48.3% and revealing that the cardiac rhythm management slump has made its way across the pond.
The Italian medical device maker posted net income of €58.0 million (~$75.2 million) on sales of €743.4 million (~$963.4 million) for the year ended Dec. 31, 2011. That compares with profits of €39.1 million (~$50.7 million) on sales of €745.8 million (~$966.5 million) during 2010.
HeartWare International (NSDQ:HTWR) reported strong sales growth amid widening losses for the 4th quarter and 2011, and Wall Street showed some love.
The Framingham, Mass.-based heart pump maker raked in $82.8 million for the year ended Dec. 31, 2011, a 50% bump from $55.2 million in 2010. Losses, however, widened to $55.1 million, or $3.94 per diluted share. Analysts had forecast a loss of $3.17 per diluted share for 2011.
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Draeger Medical’s Infinity Acute Care system, used to monitor patient vital signs and therapy, got a Class I recall from the FDA over concerns that its weight-based drug dosage calculator may make dangerously high recommendations.
The system may even recommend a dose as much as 10 times higher than that the safe amount, and "may cause serious adverse health consequences, including death," according to the FDA.
In addition, the Infinity system’s electrocardiogram and blood pressure monitors may displaying DATA with a 5 or 10 second delay.