Globus Medical (NYSE:GMED) said yesterday that it agreed to settle a quartet of patent infringement lawsuits with Johnson & Johnson (NYSE:JNJ) subsidiary Synthes. The lawsuits involve 5 patents covering spinal implant technology. Specific terms of the settlement were not announced, “but were to the parties’ mutual satisfaction,” Globus said. All of the lawsuits were brought in the U.S. District […]
Shares of Globus Medical (NYSE:GMED) ticked up nearly 2% yesterday after the orthopedic implant maker reported preliminary 4th-quarter results that topped expectations. Audubon, Pa.-based Globus said it expects Q4 revenues to come in at roughly $142.6 million, ahead of the consensus expectation on Wall Street for $139.2 million. Full-year sales are pegged at $544.7 million, again ahead […]
The Federal Circuit Court on Wednesday upheld a doctor’s $4.3 million win over Globus Medical (NYSE:GMED) in a case examining supposed stolen trade secrets connected to 3 spinal fusion devices. A jury ruled in favor of Dr. Sabatino Bianco in January after finding Globus liable for the misappropriation of trade secrets related to spinal disc repair devices, […]
Globus Medical (NYSE:GMED) said last week that it’s planning to derive “significant revenue” from its robotics program in 2017 and wants to cross the $1 billion sales mark by 2020. At its 1st-ever investor day Nov. 12, Audubon, Pa.-based Globus said it expects to post earnings per share of $1.07 on sales of $539 million. The […]
The spinal med device market appears to be stabilizing with growth in 3 key areas, according to a letter to investors published this week from Leerink Partner’s Richard Newitter, who attended the North American Spine Society’s annual meeting in Chicago last week. Newitter said the meeting was “neutral-to-positive” for firms in the spinal market, and said […]
Royal Philips (NYSE:PHG) has promoted its India managing director and CEO Krishna Kumar to a position managing its emerging healthcare business division, according to The Times of India. Kumar is slated to continue as managing director of Philips India division until December, at which point he will lead the development of consumer and profesisonal healthcare […]
Globus Medical (NYSE:GMED) yesterday posted 2nd-quarter sales that topped expectations and met Wall Street’s profit forecast, sending share prices up today. Audubon, Pa.-based Globus reported profits of $25.1 million, or 25¢ per share, on sales of $133.6 million for the 3 months ended June 30, for a bottom-line gain of 21.3% on sales growth of 17.6% […]
April 28, 2015 by Brad Perriello
ConvaTec, which is rumored to be exploring a sale, said yesterday that it made its interim CEO, former EMEA president Paul Moraviec, to be its new permanent CEO.
Luxembourg-based ConvaTec, which is owned by private equity firms Avista Capital Partners and Nordic Capital, tapped Moraviec to lead its business in Europe, the Middle East and Africa in 2009.