Fiscal 1st-quarter earnings for Medtronic (NYSE:MDT) beat Wall Street’s consensus forecast today, despite a -1.5% sales decline. The world’s largest pure-play medical device maker posted profits of $929 million, or 66¢ per share, on sales of $7.17 billion for the 3 months ended July 29 – a 13.3% increase for the bottom line. Adjusted to exclude 1-time items, […]
Medtronic
Medtronic closes $1B HeartWare buyout
Medtronic (NYSE:MDT) said today that it’s closed the $1.1 billion acquisition of implantable cardiac pump maker HeartWare International(NSDQ:HTWR). The $58-per-share deal clears the field of the 2 major cardiac assist device makers, after Medtronic’s cross-town rival, St. Jude Medical (NYSE:STJ), paid $3 billion for Thoratec in October 2015 (St. Jude is now being acquired by Abbott (NYSE:ABT) for $25 […]
HeartWare recalls some HVAD implantable heart pumps on electrical fault risk
HeartWare International (NSDQ:HTWR) this week recalled some of its HVAD implantable heart pumps on the risk of electrical faults from driveline contamination. The recall affects an unspecified number of the left ventricular assist devices, according to an August 15 letter the Framingham, Mass.-based company sent to physicians who implant the pump. Connector contamination of the […]
TAVR: Deaths prompt Medtronic warning on EnVeo R delivery system
Reports of nearly 40 vascular trauma events – including 19 deaths– with the EnVeo R replacement heart valve delivery catheter prompted Medtronic (NYSE:MDT) this month to warn doctors not to force passage if the catheter meets resistance. The EnVeo R device is used to deliver the Evolut R transcatheter aortic valve replacement via the femoral artery. Although […]
Mazor X unveiling triggers another $20m from Medtronic
Mazor Robotics (NSDQ:MZOR) said today that the unveiling last month of its Mazor X robot-assisted spine surgery platform triggered the 2nd step in a 3-stage equity deal with Medtronic (NYSE:MDT). Medtronic paid $20 million for a 3.4% stake in Mazor at $21.84 apiece, the trailing 20-day average for MZOR shares, the Caesarea, Israel-based company said. It’s part of a 2-stage deal […]
Seno Medical grabs ex-CeloNova CFO Davis | Personnel Moves August 12, 2016
Seno Medical grabs ex-CeloNova CFO Davis Seno Medical Instuments said this week it tapped former CeloNova BioSciences chief financial officer Eric Davis to take over the CFO role at Seno Medical. Prior to his years at CeloNova, Davis operated as CFO and operating officer at Genesis Networks Enterprises. Seno Medical said that Davis has more than […]
Medtronic launches MiniMed 630G in U.S.
Medtronic (NYSE:MDT) announced the U.S. launch of the MiniMed 630G insulin management system it developed to work with a blood glucose meter made by Ascensia Diabetes Care. The MiniMed 630G uses Medtronic’s SmartGuard software and a continuous glucose monitor to warn patients when glucose levels reach a preset low and to cease insulin delivery if the user doesn’t […]
University of California pays $9m to settle Medtronic InFuse suits
The regents governing the University of California reportedly agreed to pony up $8.5 million to settle a pair of lawsuits brought against a former UCLA spine surgeon who used Medtronic‘s (NYSE:MDT) controversial InFuse bone-growth protein in their back surgeries. The lawsuits filed in the Los Angeles County Superior Court accused Dr. Jeffrey Wang of failing to disclose […]
Medtronic wins CE Mark for SureTune2 DBS software
Medtronic (NYSE:MDT) said today that it won CE Mark approval in the European Union for the SureTune2 software used with its deep-brain stimulation devices. The software is designed to allow physicians to fine-tune patients’ therapy “by visualizing patient-specific information in one comprehensive view including anatomy, physiology, and calculated stimulation field,” the Fridley, Minn.-based company said. “Medtronic […]
Smith & Nephew closes $350m Truclear sale to Medtronic, launches $300m buyback
Smith & Nephew (NYSE:SNN) said today that it closed the $350 million sale of its gynecology business, including the Truclear hysteroscopy system, to Medtronic (NYSE:MDT). The London-based healthcare giant also made good on its promise to put $300 million of the proceeds toward a stock buyback plan. Smith & Nephew has said it expects most of the gynecology unit’s employees […]
Haemonetics taps ex-Medtronic CIO Burke as new CFO | Personnel Moves August 4, 2016
Haemonetics taps ex-Medtronic CIO Burke as new CFO Haemonetics (NYSE:HAE) said this week it tapped former Medtronic (NYSE:MDT) chief integration officer William Burke as its new chief financial officer, effective August 8. Burker operated as CIO with Medtronic since 2015, serving during the integration of Covidien. Prior to that, he held various finance positions with […]