3M Co. (NYSE:MMM) beat expectations for its 4th-quarter profits and affirmed its guidance for 2012, but Wall Street remained unmoved, with shares staying flat in this morning’s trading.
Wall Street’s overall take on sales and earnings forecasts for medical device makers this year is too high, according to Goldman Sachs (NYSE:GS) analyst David Roman, who sees The Street’s 4th-quarter top-line estimates as split evenly among companies with upside and downside.
Aetna Inc. (NYSE: AET) acquired Healthagen, the developer of mobile health app iTriage, for an undisclosed amount. The smartphone app, which lets users check their symptoms, find physicians, book appointments and shop for medical supplies, already has 3 million downloads from iPhone’s App store and the Android market.
The insurance giant plans to integrate iTriage into part of its accountable care organization after it augments the app with some new features.
MASSDEVICE ON CALL — Fujifilm Medical Systems launched clinical trials of its 3D digital mammography technology in the U.S. with installation of machines at centers around the U.S.
Trials are set to begin as early as next month, according to a press release. The company announced the launch at a conference of the Radiological Society of North America over the weekend.
Zimmer Holdings (NYSE:ZMH) shares are down this morning in early trading after the orthopedics giant lowered its sales and earnings guidance for 2011 – despite beating analysts’ expectations with its third-quarter earnings.
Warsaw, Ind.-based Zimmer said third-quarter profits were $192 million, or $1.01 per share, on sales of $1.03 billion for the three months ended Sept. 30, up 5.2 percent and 6.9 percent, respectively, compared with the same period last year.
Medical device investment deals got fatter and less frequent during the second quarter, as the value of deals grew 9 percent but their number slid 17 percent, according to PricewaterhouseCoopers.
Backers pumped $841 million into med-tech firms with 90 deals during the three months ended June 30, according to the consulting firm’s MoneyTree report. That’s up 26 percent and 3 percent, respectively, over the first quarter. The industry’s share of the venture capital cash spend on life sciences last quarter ticked down to 40 percent, however, compared with Q1 numbers.
Hill-Rom Holdings Inc. (NYSE:HRC) agreed to pay $41.8 million to settle a federal case alleging that it billed Medicare and Medicaid for bed support devices even though it knew the patients were not eligible – and, in at least three cases, after the patients had died.
The whistleblower lawsuit, originally filed in April 2005, accused the company of submitting the false claims between 1999 and 2007, according to court documents.
BATESVILLE, Ind., September 8, 2011 — Hill-Rom Holdings, Inc., (NYSE:HRC) today announced the approximately $20 million acquisition of Liko France, SAS, Item SA and Liko Care AG, the distribution companies for Hill-Rom’s Liko patient mobility products in France and Switzerland. Hill-Rom, the global leader in patient support solutions, expanded its patient mobility product offering with the 2008 acquisition of Liko, A.B., a leading provider of patient lift systems. Last year, Hill-Rom reorganized its regional operations to more directly serve its patients’ and customers’ needs. Today’s acquisition is another step in Hill-Rom’s strategy for international expansion, leveraging and increasing its direct channel presence, especially in key European markets.
A rebounding Boston Scientific Corp. (NYSE:BSX) said it plans to eliminate up to 1,400 jobs as part of a restructuring program aimed at saving between $225 million to $275 million annually by 2013.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Here’s the latest personnel changes from medical device, diagnostics and life science companies around the nation. For more recent hirings and firings, check out MassDevice’s compilation of the latest personnel moves.