The Chinese medical device market may triple by 2018, partially due to high rates of tobacco consumption and a rapidly growing economy, according to a market report.
The 3 months ended March 31 made up Abiomed’s "best quarter and year in company history, in terms of number of patients supported, revenue growth, and profitability," chairman, president & CEO Michael Minogue said in prepared remarks.
Merck Global Health Innovation Fund will invest up to $17 million in medical app maker Physicians Interactive Holdings. The financing includes $8.5 million up front, but could double if the mHealth marketer meets Merck’s milestones.
The Marlborough, Mass.-based company plans to use the Merck funds to grow "4 key products," including its flagship medical resources app Skyscape.
Bankers aren’t expecting much excitement in the U.S. market for initial public offerings this year, as China spends another year at the top.
About half of the 100 capital markets execs surveyed predict growth in IPOs this year, compared to 72% of those surveyed in advance of 2011, according to BDO USA, an accounting and consulting firm.
Only 16% of those surveyed expected any growth to be "significant," while 35% expect flat growth and 15% predicted that the market will continue to slide.
Welch Allyn president & CEO Julie Shimer announced plans to retire from the Skaneateles Falls, N.Y.-based diagnostics maker by the end of 2012.
Shimer became the first woman to hold the corner office at the 95-year old company when she took the position in 2007 after 5 years on the med-tech maker’s board of directors.
MASSDEVICE ON CALL — Federal prosecutors charged former Ohio Philips Healthcare (NYSE:PHG) facilities manager Pay Boyce, 63, of accepting bribes from a local construction company.
The charges span 18 years of alleged bribes, including construction work on Boyce’s house and the houses of other Philips employees, tickets to athletic events, trips to Las Vegas and thousands in gift cards from construction company DAS Development Inc.
Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street’s earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.
Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That’s top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY’s acquisition of rival TomoTherapy earlier this year.
Recently formed medical device maker Claret Medical, Inc. raised $3.38 million in a Series A private equity offering.
The Santa Rosa, Calif.-based company raised $3.38 million out of the $3.5 million sought, according to an SEC report.
Claret also landed a CE Mark for its Montage system to protect against brain embolism during vascular surgery. Montage is the first filtration system to protect both carotid arteries simultaneously.