By Chris Walker
The U.S. Defense Dept. issued $83.9 million worth of contracts to 4 medical device companies, according to the agency’s daily press release.
The healthcare products conglomerate acquired orthodontics devices maker Ortho Technology, medical distributor Modern Laboratory Services, and dental dealer Accord. The trio of companies represent annual sales of nearly $61 million.
The Sunnyvale, Calif.-based radiosurgery device maker reported losses of $14.9 million, or 21¢ per share, on sales of $101.8 million during the 3 months ended March 31.
MASSDEVICE ON CALL — The 2012 list of the world’s most ethical companies included a handful of medical device makers and group purchasing organizations, according to the research-based Ethisphere Institute.
Edwards Lifesciences (NYSE:EW) said it will re-state its financial results for the first 3 quarters of 2011, “due to certain technical errors in the balance sheets and cash flow statements for these interim periods.”
The Irvine, Calif.-based heart valve maker said the errors involve the mis-statement of short-term investments as cash & equivalents, plus the way it treated tax benefits from stock plans.