Amid a shortage of life-saving ventilators amid the coronavirus pandemic, medical device companies are rapidly expanding production, trade group AdvaMed reported today. Respiratory device companies that belong to AdvaMed have boosted ventilators production to 2,000–3,000 per week — and expect to soon reach 5,000–7,000 ventilators per week. Last year, the same companies were making only […]
How will coronavirus affect medtech companies that rely on elective surgeries?
One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Hillrom shares slide despite topping Street forecast
Hillrom (NYSE:HRC) shares dipped today on first-quarter results that fell short of last year’s numbers but still topped the consensus forecast. The Chicago-based company posted profits of $39.8 million, or 59¢ per share, on sales of $685 million for the three months ended Dec. 31, 2019, for a 5.7% bottom-line slide on sales growth of 0.15%. […]
Hillrom tops estimates with fiscal Q4, 2019 numbers
Hillrom (NYSE:HRC) today posted fiscal fourth-quarter and full-year numbers that beat the consensus forecast all around. The Chicago-based medical products giant reported profits of $27.9 million, or 41¢ per share, on sales of $782.8 million for the three months ended Sept. 30, for a -69.1% bottom-line slide on sales growth of 3.1%. Adjusted to exclude […]
Hillrom offers $425m in private-placement funding notes
Hillrom (NYSE:HRC) said today that it has launched a planned private offering of more than $400 million in senior unsecured notes. The Chicago-based medtech company said it intends to use the proceeds from the $425 million offering, along with available cash, to redeem its outstanding 5.75% senior notes due in 2023, including the payment of related […]
Hillrom to pay $130m for Breathe Technologies as fiscal Q3 numbers top forecast
Hillrom (NYSE:HRC) said today that it agreed to pay $130 million in cash for Breathe Technologies and posted fiscal third-quarter numbers that topped the consensus on Wall Street. Irvine, Calif.-based Breathe Technologies developed the Life2000 ventilation system, a wearable, non-invasive mechanical ventilation device for patients with chronic obstructive pulmonary disease, interstitial lung disease, restrictive thoracic […]
Hillrom deals surgical consumables biz to Audax for $170m
Hillrom (NYSE:HRC) said today that it inked a deal to sell its surgical consumables business to private equity shop Audax for $170 million in cash. Chicago-based Hillrom, fresh from a May rebranding, said the lines being sold to Audax include its Bard-Parker scalpels and blades and other operating room accessories. The surgical consumable unit’s 500 […]
Hillrom’s Welch Allyn wins $100m Defense contract
Hillrom (NYSE:HRC) subsidiary Welch Allyn won a Pentagon contract worth $100 million for patient monitoring equipment, the U.S. Defense Dept. said yesterday. Skaneateles Falls, N.Y.-based Welch Allyn beat out 35 other outfits to win the five-year contract, which has a single five-year option after June 24, 2024, the Pentagon said. The contract covers the Army, Navy, Air […]
Hill-Rom rebrands as Hillrom
CORRECTION May 28, 2019, reflecting the plans for the Welch Allyn and Voalte brands. Hill-Rom (NYSE:HRC) said today that it’s adjusting its brand under a new logo, aiming to emphasize its focus on the digital health space. The new Hillrom moniker and refreshed logo reflect the company’s “strong and growing capabilities in connected devices, advanced analytics […]
Report: Healthcare CEO pay balloons to $2.6B, quality of care not a factor in bonuses
Healthcare chief execs at 177 top companies collectively saw their compensation grow to $2.6 billion last year while quality of care and improvements to healthcare spending remained at most a marginal factor to their pay, according to an Axios analysis. Despite a focus on pharmaceutical CEOs, medical device company chief execs were five of the […]
Hill-Rom shares rise on Street-beating Q2 earnings
Shares in Hill-Rom Holdings (NYSE:HRC) are rising this morning after the medical device maker topped expectations on Wall Street with its second quarter fiscal year 2019 earnings results. The Chicago-based company posted profits of $49.5 million, or 74¢ per share, on sales of $714.2 million for the three months ended March 31, seeing profits grow 73.7% […]
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