Sean Stewart, a former executive with JP Morgan and Perella Weinberg Partners who is accused of insider trading based on his work on several medical device transactions, lost his bid to have criminal charges dismissed from a federal court in New York. Federal prosecutors in May 2015 charged Stewart, his father Robert Stewart and a 3rd […]
Analyst: ConMed ripe for M&A spree May 19, 2015 by Fink Densford ConMed, in the middle of an under-appreciated turnaround, could be poised to augment its growth via selective acquisitions, according to Leerink Partners analyst Richard Newitter. Newitter, who upgraded CNMD shares to “outperform” and boosted the price target to $64 from $60, wrote in […]
INC Research’s Kendle acquisition vaulted the North Carolina clinical research organization into the CRO industry’s top five and, according to CEO James Ogle, helped the company become a global player.
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.
Cincinnati-based contract research organization Kendle International Inc. (NSDQ:KNDL) has solved its “acquire-or-be-acquired” dilemma.
Kendle agreed to sell itself to Raleigh, N.C.-based CRO INC Research LLC for $232 million, according to a statement from the companies.
Contract research organization Kendle International Inc. (NSDQ:KNDL) saw its stock plummet 15 percent a day after it announced a $9 million fourth-quarter loss.
Kendle’s stock closed at $10.28 after the Cincinnati-based CRO reported its fourth-quarter and full-year earnings after market close the prior day.
Kendle lost $9 million, or 62 cents per share, in the fourth quarter compared with net income of $2 million, or 16 cents per share, in the fourth quarter of 2009.
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:
InVivo Therapeutics Holdings Corp. (OTC:NVIV) pushed forward on the development of its manufacturing capabilities with the appointment of biomedical engineer Phil Pereira.
As the company’s new director of manufacturing, Pereira will be responsible for overseeing scale-up, qualification and compliance efforts in the manufacture of InVivo’s lead product candidate, a novel, biocompatible polymer scaffolding device, at the company’s recently opened manufacturing and development facility, according to the company.
Market volatility continues to hurt Kendle International Inc. (NSDQ:KNDL) as the contract research organization saw its profits plummet 82 percent in the third quarter.
The company “remains cautious” in its short-term outlook for the CRO industry, due to market volatility, CEO Candace Kendle said in a conference call with analysts today.