Campbell Rogers is leaving his post as chief scientific officer for Johnson & Johnson’s (NYSE:JNJ) Cordis Corp. – a role created for him in July 2006 – to take the chief medical officer job at startup HeartFlow.
The market for hip and knee implants is stable but mired in a low-growth stage, according to analysts who attended the American Academy of Orthopedic Surgeons conference in San Francisco last week.
Although the abrupt departure of Stryker CEO Steve MacMillan drew the lion’s share of attention at the AAOS event, analysts from Barclays Capital and Leerink Swann agreed that the sector’s outlook calls for low-single-digit growth.
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.
MASSDEVICE ON CALL — Alex Barkas, a venture capitalist with Prosper Venture Partners, died unexpectedly Nov. 21. He was 64.
Barkas had been a managing director at Prospect since 1997. He served on the boards of many biotech companies during his career, including Complete Genomics (NSDQ:GNOM), Geron (NSDQ:GERN), Tercica, Amicus and Novacept.
Prospect posted a brief memorial to Barkas, whose cause of death was undetermined as of Nov. 23, according to Xconomy:
Shares of Masimo Corp. (NSDQ:MASI) plunged more than 12 percent today after the patient monitoring device maker missed third-quarter earnings expectations and lowered its sales and earnings guidance for the rest of 2011.
MASI shares were trading at $19.61 as of about 1 p.m. today, down 12.1 percent.
Nuance Communications (NSDQ:NUAN) CEO Paul Ricci allegedly tried to lay $5 million bribes before a trio of executives at competitor Vlingo Inc. in an effort to force through a below-market-price buyout, according to a lawsuit filed by Vlingo against its Massachusetts peer.
Updated: 7/28/2011 10:30 a.m.
Royal Philips Electronics’ (NYSE:PHG) health care division posted modest second quarter growth while the company overall slid hard into the red on weak markets and impairment charges.
"Healthcare achieved robust growth of 8 percent, exceeding expectations," newly appointed president & CEO Frans van Houten said during a conference call with investors.
Bankrupt ReGen Biologics Inc. (OTC:RGBO) took out a loan from a company affiliated with one of its investors. The new debt represents Regen’s second financing deal with the company since filing for Chapter 11 bankruptcy two weeks ago.
The FDA granted Covidien plc (NYSE:COV) pre-market approval for its brain aneurysm treatment device.
The Mansfield, Mass.-based company designed its new endovascular device, aptly called the Pipeline, to redirect blood flow away from an aneurysm so an embolization can be performed.
Ball, 55, replaces Hospira founder Christopher Begley, who’s staying on as executive chairman.
Ball spent 16 years at Allergan, rising to president after stints leading its pharmaceuticals , global eye care and North American businesses.