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.
Invacare
Should the medical device industry rethink its political donation strategy?
Like most industries, the medical device industry loves to complain about its government regulators.
The U.S. Food & Drug Administration’s regulatory process is too slow, too inconsistent and too fraught with uncertainty, which in turn stifles innovation and job growth, the industry says. And add to that another industry complaint about the FDA: The agency suffers from excessively high turnover.
Winner Medical replaces “Tony” with “Rocky” | Personnel Moves
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.
Diamyd CEO exits over board rift | Personnel moves
Diamyd Medical AB (OTC:DMYDY) and its CEO parted ways after the chief executive had a falling out with the company’s board.
Elisabeth Lindner left her position with the company "due to disagreement with the Board concerning certain important matters," the company said in prepared remarks.
Wright Medical CEO and CTO out
Wright Medical Group Inc. (NSDQ:WMGI) announced a surprise shakeup of its executive team today, firing its chief technology officer and accepting the resignation of CEO Gary Henley.
The Arlington, Tenn.-based maker of orthopedic devices for the foot and ankle market said in a regulatory filing that Henley resigned prior to a board meeting yesterday.
Invacare’s double-digit growth bests Wall St.’s predictions
Home health products maker Invacare Corp.’s (NYSE:IVC) fourth-quarter adjusted earnings beat Wall Street analysts’ expectations, thanks to organic sales growth and reduced interest expenses.
For the full year of 2010, the company reported adjusted earnings per share of $1.84, its third consecutive year of double-digit earnings growth.
Burning beds warning letter poses Invacare long-term pain
For most medical device companies, the occasional warning letter from the Food & Drug Administration is just a minor annoyance, another part of doing business.
The FDA letters, which are published on the agency’s website, typically cite failures in record-keeping and manufacturing processes that are quickly corrected by companies and forgotten by everyone else.
FDA warns Invacare on burning beds
Invacare Corp. (NYSE:IVC) was slapped with a warning letter by federal regulators for failing to adequately investigate reports of fires and sparks from electric beds that in some cases allegedly resulted in patient deaths.
The warning letter from the Food & Drug Administration contains several disturbing consumer complaints related to Invacare’s adjustable beds, including one in April about a fire that started at the foot of a bed and resulted in a consumer’s death.
Mal Mixon, a Midwestern medtech magnate
They don’t make corporate executives like A. Malachi “Mal” Mixon III anymore.
The outspoken former CEO of Elyria, Ohio-based Invacare Corp. (NYSE:IVC) is known for his straight talk, hard-charging style, conservative political leanings — and the occasional fondness for whiskey.
Former security chief Gen. James Jones rejoins Invacare board
Former national security advisor Gen. James Jones joined the board of Invacare Corp. (NYSE:IVC), replacing departing Ohio governor-elect John Kasich effective Dec. 1.
Invacare’s Mixon passes torch to Blouch
Invacare Corp. (NYSE:IVC) CEO A. Malachi Mixon III, a name synonymous with the company since he bought it with his life savings in 1979, is stepping down from his chief executive post but will stay on as chairman.