Henry Schein (NSDQ:HSIC) said today that it is shifting the date for the spin-out of its animal health business, now dubbed “Covetrus,” from February 4 to February 7. The change was implemented by the Melville, N.Y.-based company’s board of directors, according to company press release. The new date reflects the new anticipated date for distribution of shares […]
Henry Schein sets timetable on $5B Covetrus animal health spinout
Henry Schein (NSDQ:HSIC) yesterday set the timetable for the spinout of its animal health business in a merger with Vets First Choice, branding the soon-to-be-public company as Covetrus. The Melville, N.Y.-based dental products giant set the record and distribution dates for the spinout, first announced last April. Covetrus is slated to trade on the NASDAQ exchange beginning […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Boston Scientific sues Micro-Tech over endo clip patents
Boston Scientific has filed a lawsuit against Micro-Tech USA and its Chinese manufacturer, Micro-Tech Nanjing, alleging that Micro-Tech infringed three of its patents for endoscopic hemostatic clips. Boston Scientific claims that Micro-Tech’s SureClip hemostasis clip products infringe the patents for its Resolution and Resolution 360 clips, which are designed to control gastrointestinal bleeding. Henry Schein (Melville, N.Y.) is […]
Henry Schein to settle anti-trust class action for $39m
Henry Schein (NSDQ:HSIC) said today it expects to pay approximately $38.5 million to settle an anti-trust class action suit related to dental supplies. The case, which was filed in the US District Court for the Eastern District of New York, alleges that the defendants violated anti-trust rules by fixing prices on dental equipment and supplies, as […]
Henry Schein shares rise on Street-beating Q2
Shares in Henry Schein (NSDQ:HSIC) rose today after the medical company beat expectations on Wall Street with its second quarter earnings results. The Melville, N.Y.-based company posted profits of $141.2 million, or 92¢ per share, on sales of $3.3 billion for the three months ended June 30, seeing profits grow 3.8% while sales grew 8.7% compared […]
Layoffs likely ahead at Henry Schein in latest move
Henry Schein (NSDQ:HSIC) said yesterday that it’s planning more changes for its business after announcing the spinout of its animal health business and a joint venture for its dental software operation earlier this year. In a terse regulatory filing yesterday, Melville, N.Y.-based Schein said it’s “committed to an initiative to rationalize its operations and provide […]
Henry Schein, Internet Brands form dental-software focused JV Henry Schein One
Henry Schein (NSDQ:HSIC) said yesterday that it and Internet Brands formed joint venture Henry Schein One, which aims to produce integrated dental technology focused on improving practice management, marketing and patient communication. The deal was originally announced on April 3, Melville, N.Y.-based Henry Schein said, and financial terms of the agreement have not been disclosed. “With […]
Henry Schein shares down despite Street-beating Q1
Shares in Henry Schein (NSDQ:HSIC) have fallen today despite the medical device maker beating expectations on Wall Street with its first quarter 2018 earnings release. The Melville, N.Y.-based company posted profits of $140.2 million, or 91¢ per share, on sales of $3.2 billion for the three months ended March 31, seeing the bottom-line shrink 0.4% while […]
Hospitals sue BD, distributors, GPOs over alleged safety syringe monopoly
A group of healthcare providers levied a purported class action against BD, its distributors and group purchasing organizations accusing them of running a monopoly on the U.S. safety syringe market. The lawsuit, brought in the U.S. District Court for Southern Illinois, was filed on behalf of “healthcare providers nationwide” by a group of providers “who […]
Medtronic taps former JP Morgan analyst Weinstein for strategy SVP | Personnel Moves – May 7, 2018
Medtronic (NYSE:MDT) said today it tapped former J.P. Morgan Chase & Co. analyst Mike Weinstein as its strategy senior VP. Prior to joining Medtronic, Weinstein served as a managing director for JP Morgan’s equity research healthcare team, holding positions within the unit for more than 20 years, the Fridley, Minn.-based company said. “We are excited to […]
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