Cardinal Health appointed Donald Casey Jr. to lead its $9 billion medical products and services division, effective next week.
Haemonetics
GMI Ratings adds Boston Scientific to risky bet list | Wall Street Beat
A rating agency specializing in evaluating risky investments added Boston Scientific (NYSE:BSX) to its "Risk List," citing the ongoing fallout from its ill-starred Guidant buyout, its accounting and governance practices and how it pays its executives.
Volcano names David Sheehan COO | Personnel Moves
Volcano Corp. (NSDQ:VOLC) promoted David Sheehan to the role of chief operating officer, regulatory filings show.
AngioDynamics CEO: Navilyst deal hits the reset button | Wall Street Beat
Updated February 1, 2012 at 5:30 p.m.
The $372 million buyout of Navilyst Medical by AngioDynamics (NSDQ:ANGO) is a reset button that will reinforce the combined operation for the future, AngioDynamics CEO Joe DeVivo told MassDevice this afternoon.
Haemonetics’ Q3 beats The Street
Investors on Wall Street backed off of their initial enthusiasm for Haemonetics (NYSE:HAE) today, after the blood management company beat The Street’s 3rd-quarter profit expectations and re-affirmed its guidance for the year.
HAE shares hit $68.01 today after the company reported profits of $18.3 million, or 72 cents per share, on sales of $191.2 million for the 3 months ended Dec. 31, 2011. Adjusted for 1-time items, earnings were 86 cents per share, well above analysts’ expectations of 79 cents EPS.
Olympus restates books, takes $1.1B hit | Wall Street Beat
Olympus Corp.’s (TYO:7733) re-stated finances for the past 5 years include a $1.1 billion hit from its 13-year scheme to hide investment losses with specious M&A consulting fees.
The endoscopy giant made the filings with Japanese regulators after being caught red-handed cooking its books to hide the fees, just avoiding a de-listing from the Tokyo stock exchange but fueling rumors that it will need to merge, sell a division or two or raise some cash to keep itself alive.
Acquisition chatter surfaces again for Smith & Nephew
Shares of Smith & Nephew (NYSE:SNN) slipped initially but have regained some of their value since more talk of a possible buyout surfaced in the U.K. last week.
The British orthopedics giant is up 2.7 percent on The Street today to $43.94 after flirting with a 52-week low Friday, Nov. 25. The stock has fared even worse in its home country following an "uninspiring" meeting with analysts last week.
KCI CEO Burzik to transition out, senior managers to buy in | Wall Street Beat
Catherine Burzik, president, CEO and director at Kinetic Concepts Inc. (NYSE:KCI), will stay on until next summer once Apax Partners and it pension fund partners take KCI private, planned to close tomorrow.
“Ms. Burzik plans to transition her responsibilities to new leadership during 2012 before moving on to future opportunities,” according to a press release. “The terms of the program with other members of senior management include significant co-investment as well as long-term incentives.”
HeartWare’s Q3 sales rise, losses widen; CFO to step down | Earnings Roundup
HeartWare International (NSDQ:HTWR) posted record revenues of $21.3 million during the third quarter, up 54.4 percent, but saw losses gap wider by a whopping 78 percent.
The Framingham, Mass.-based medical device maker also said CFO David McIntyre is stepping down to move back to Australia to rejoin family.
HeartWare posted a net loss of $14.0 million, or $1.00 per share, for the three months ended Sept. 30. That compares with losses of $7.8 million, or 57 cents per share, on sales of $13.8 million during the same period last year.
Fenwal wins patent suit over Haemonetics | Legal News
Fenwal Inc. won a nearly 6-year battle against Haemonetics Corp. (NYSE:HAE) over blood separation technology, after a federal judge in Massachusetts ruled in its favor this week.
The case dates back to 2005, when Haemonetics accused the then-Baxter Healthcare (NYSE:BAX) subsidiary of infringing a patent for a portable blood-collection device.
Court Rules in Favor of Fenwal in Nearly 6-Year U.S. Patent Dispute with Haemonetics
LAKE ZURICH, Ill.–(BUSINESS WIRE)–The United States District Court for the District of Massachusetts has
granted Fenwal’s motions for summary judgment in two related patent
lawsuits brought by Haemonetics Corporation in 2005 and 2009. In its
ruling, the court held that the Fenwal Alyx® system kits do
not infringe the Haemonetics patent.
“We respect the intellectual property of other companies and have said
from the beginning that these suits have no merit”