The cardiac rhythm management market is "about as bad as it has ever been," according to an analyst with Gabelli & Co., due in part to headwinds from a federal probe and a negative journal article.
Angeion Corp. (NSDQ:ANGN) narrowed its 1st-quarter losses despite flat sales for the 3 months ended Jan. 31.
Although dragged down by a tough European climate, focusing on group purchasing organization and service revenues kept the company’s sales from sliding, the cardiorespiratory diagnostic systems maker said.
Surgical snake technology developer Medrobotics Corp. closed a $11.7 million Series C funding round led by current shareholders, angel investors and the Pittsburgh Life Sciences Greenhouse.
Medrobotics, originally known as Cardiorobotics, has raised $28.3 million since it spun out of Carnegie Mellon University in 2005.
The Boston, Mass.-based med-tech maker’s robots allow surgeons to perform 2-handed surgeries in hard-to-reach anatomical areas. The robots can support their own weight and move in any 3D space without structural support.
Avedro Inc. won an orphan drug designation for a solution used with its KXL irradiation system to treat corneal ectasia following refractive surgery.
The decision sets the Waltham, Mass.-based company up for 7 years of exclusive rights to the U.S. market if the technology pans out.
The VibeX ophthalmic solution is used with the company’s UVA radiation system for corneal cross-linking to treat corneal ectasia following refractive eye surgeries such as Lasik.
Stratatech Corp. won a $4.6 million grant to run a clinical trial from the National Institute of Diabetes & Digestive & Kidney Diseases.
The funds will support the first human study of Stratatech’s ExpressGraft Antimicrobial genetically engineered living skin substitute as a therapy for diabetic foot ulcers.
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.
Electromed Inc. (NSDQ:ELMD) promoted Jeremy Brock to the position of chief financial officer, effective immediately.
Brock just joined the New Prague, Minn.-based company as its financial controller in August, 2011.
Stanmore Implants won FDA clearance for an extendible femur implant that can "grow" as the patient does, without the need for surgery, anesthesia or sedation.
The Juvenile Tumour System replaces large portions of the femoral bone in the thigh, which is sometimes removed during cancer treatment.
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:
Founders of companies often clash with CEOs hired to operate the business. But at Miromatrix Medical Inc., a regenerative medicine firm spun out of the University of Minnesota, it happened just over a year after the company began operations.
The company was spun out of UMinn in December 2009 and formally set up in February 2010 when the university signed an exclusive licensing agreement allowing the research of Doris Taylor to be commercialized.
Syneron Medical Ltd. (NSDQ:ELOS) reported a 250 percent increase in sales during 2010, as the aesthetic device maker began to see some payoff from its 2009 acquisition of Candela Corp.
Syneron, a Yokneam, Israel aesthetic device company reported $189 million in sales during the year ending on Dec. 31, 2010, compared to $54 million for the same period last year. Much of that increase is directly attributed to products the company picked up in its $65 million acquisition of Candela Corp. in Sept. 2009.