In the medtech industry, if you don’t innovate, you can’t compete. While innovation and breakthrough technologies may be the core currency at startups, larger medical device firms have more to balance alongside research and development, making strategies for maintaining innovation essential to staying ahead of the curve. Last month at Device Talks West, Medtronic (NYSE:MDT) neurovascular R&D […]
FDA names Flatiron Health’s Abernethy as deputy commish | Personnel Moves, December 19, 2018
The FDA this week named Amy Abernethy, the chief medical officer for Roche subsidiary Flatiron Health, as principal deputy commissioner to replace Rachel Sherman, who is retiring in January. “She’s a highly regarded thought leader who has held numerous positions of leadership in her fields of interest and distinguished herself for her intellect, her passion […]
FDA chooses 8 medtech companies for opioid crisis challenge
The FDA has selected eight medtech companies to develop devices to help reduce the country’s opioid abuse crisis. More than 250 companies submitted entries to the FDA Innovation Challenge: Devices to Prevent and Treat Opioid Use Disorder, announced in May. Those selected include Masimo Corp. and deep-brain-stimulation company Brainsway Ltd. The companies will be expected to […]
Avanos shares down on Q3 sales miss, shrinking profits
Shares in Avanos Medical (NYSE: AVNS), which rebranded from Halyard Health in June, have fallen over 10% today after the company posted third quarter earnings that showed profits shrinking nearly 75% and sales numbers that didn’t meet expectations on Wall Street. The Alpharetta, Ga.-based company posted profits of $4.2 million, or 9¢ per share, on sales of $165.1 […]
Avanos, formerly Halyard Health, sees shares rise on Street-beating Q2
Avanos Medical (NYSE: AVNS), which rebranded from Halyard Health in June, has seen shares rise today after the medical device maker handily beat expectations on Wall Street with its second quarter results. The Alpharetta, Ga.-based company posted profits of $35.3 million, or 73¢ per share, on sales of $160.9 million for the three months ended […]
Halyard Health inks $65m deal to acquire CoolSystems
Halyard Health (NYSE:HYH) said today it inked a $65 million deal to acquire cold and compression therapy company CoolSystems, which markets under the name Game Ready. CoolSystems produces devices designed for pain management and rehabilitation of patients recovering from orthopedic surgery or sports-related injuries, including its GRPro 2.1 cold and compression therapy system, Med4 Elite multi-modality […]
Halyard Health to rebrand as Avanos Medical
Halyard Health (NYSE:HYH) said today that it’s planning to re-brand – and re-list its stock – under the Avanos Medical name. Alpharetta, Ga.-based Halyard, formed by the November 2014 spinout of Kimberly-Clark (NYSE:KMB) unit K-C Health Care, said it derived its new moniker from the words “advanced” and “innovation” to emphasize its “focus on innovating with speed […]
Halyard Health shares rise on Street-topping Q1
Shares in Halyard Health (NYSE:HYH) rose today after the medical device maker beat expectation on Wall Street with its first quarter results. The Alpharetta, Ga.-based company posted profits of $20.2 million, or 43¢ per share, on sales of $156.4 million for the three months ended March 31, seeing massive 57.8% growth on the bottom-line while sales […]
Halyard Health, Owens & Minor close $710m infections business sale
Halyard Health (NYSE:HYH) and Owens & Minor (NYSE:OMI) said today that they closed the $710 million sale of Halyard’s surgical and infection prevention business. The deal adds $1 billion in revenues and $80 million in earnings before interest, taxes, depreciation & amortization to Owen’s & Minor’s books annually. Halyard has said the sale speeds its move toward becoming a pure-play […]
Halyard Health dodges one suit, sees damages slashed in another
Halyard Health (NYSE:HYH) said late last week that it was granted a motion to dismiss a suit claiming it artificially inflated its stock prices, and that damages in another case were slashed by over 90%. The Alpharetta, Ga.-based company said that it, along with a number of its executives, were facing a case claiming violations of the […]
Halyard Health’s IT restructuring could cost $50m
Halyard Health (NYSE:HYH) said last week it expects the restructuring of its information technology systems could cost between $40 and $50 million. The Alpharetta, Ga.-based company said it sold its previous IT systems alongside its surgical and infection prevention business to Owens & Minor (NYSE:OMI) in a deal worth $710 million, which it announced last November. The purchase […]
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