Globus Medical
St. Jude CEO: Device tax will have “unintended consequences” | Wall Street Beat
The ever-looming 2.3% medical device tax "will have more impact on businesses than is generally appreciated, St. Jude Medical (NYSE:STJ) CEO Daniel Starks told investors during the company’s earnings call this week.
Globus Medical files for IPO | Wall Street Beat
Globus Medical filed for an initial public offering yesterday, saying it’s planning a reverse split of its existing stock just before the IPO launches.
The Audubon, Pa.-based orthopedic device maker, which ran afoul of the FDA last month, said it hopes to trade under the "GMED" ticker on the New York Stock Exchange.
MassDevice.com +3 | The top 3 med-tech stories for February 29, 2012.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
UPDATE: Globus says $1M FDA result of “unfortunate miscommunication”
Orthopedic device maker Globus Medical chalked the $1 million settlement with the FDA up to an "unfortunate miscommunication" rather than to any patient safety problems with its NuBone bone graft products.
The company agreed to pay the penalty, including a fine for CEO David Paul, to settle FDA charges that it marketed the NuBone products without the agency’s approval.
FDA fines Globus Medical and CEO $1M for selling rejected bone graft products
Orthopedics device maker Globus Medical will pay $1 million, including a fine for its chief officer, to settle FDA charges that the company marketed bone graft products without getting the agency’s approval.
The fine includes $550,000 in penalties and a $450,000 charge for Globus CEO David Paul.
SonoSite CFO resigns, makes $3M | Personnel Moves
SonoSite (NSDQ:SONO) CFO Marcus Smith stands to pull down more than $3 million now that he’s retired from the Bothell, Wash.-based ultrasound device maker.
The company said Smith’s resignation, which went into effect yesterday, was to pursue other opportunities.
The former Philips Medical Systems exec will end up with more than $3 million in the bank after he receives all of his separation benefits, according to a company filing with the SEC.
Meelia says goodbye to Covidien | Personnel Moves
Former Covidien (NYSE:COV) president & CEO Richard Meelia decided not to stand for re-election as chairman of the med-tech maker’s board.
Meelia agreed to serve as a non-executive chairman of the Mansfield, Mass-based med-tech titan for a year after his retirement last July.
Supreme Court disses Stryker in product liability case | Legal Roundup
The U.S. Supreme court refused to hear an appeal by Stryker Corp. (NYSE:SYK) in a product liability lawsuit filed over its recalled Trident hip implant.
Bard CFO has one foot out the door, will retire when someone fills his shoes | Personnel Moves
C.R. Bard Inc.’s (NYSE:BCR) senior VP and chief financial officer Todd Schermerhorn announced his retirement after 26 years with the company.
Schermerhorn will continue to serve as CFO until the Murray Hill, N.J.-based company finds a replacement, which may take until August 2012.
Synthes goes after Globus Medical in patent spat
Synthes Inc. (VTX:SYST) wants a Delaware judge to order Globus Medical Inc. to destroy any intervertebral implants found to infringe a trio of the Swiss medical device giant’s patents.