The Medical Device Business Journal — Medical Device News & Articles | MassDevice
NuVasive Inc. (NSDQ:NUVA) rode a nearly 50 percent increase in 2009 sales to turn a $27 million loss in 2008 into a $5 million profit last year.
The San Diego-based company, which is developing what it calls “minimally disruptive” spine surgery techniques, said its sales for the three months ended Dec. 31, 2009, were $107 million, a 43 percent increase from the $75 million the company posted for the fourth quarter of 2008.
Encision Inc. (OTC:ECIA) posted third-quarter sales of $3.26 million for the three months ended Dec. 31, 2009, down 3.3 percent compared with $3.27 million during the same period last year. Net income fell 36.1 percent to $149,000, compared with $233,000 during Q3 2009:
Viking Medical Systems Inc. (OTC:VKNG) inked a deal for $5 million in financing for the launch of its three-dimensional visualization system through a pre-arranged stock sale to a Boston, Mass.-based investment fund.
The Westborough, Mass.-based company said it took out an equity line with the Dutchess Opportunity Fund II LLP, an investment fund that specializes in providing financing through common stock lines of credit, or CSLOCs.
BioSphere Medical Inc. posted first-quarter sales of $7.28 million, up 1 percent compared with $7.21 million during the same period last year.
But the Rockland embolotherapy products maker’s net loss grew 17 percent during the period ended March 31, to $1.6 million, compared with $1.4 million during the first quarter of 2008.
Gross profit rose to nearly 75 percent of sales, compared with 71.7 percent during the same period last year, but operating expenses also rose as research and development, marketing and legal costs increased.
Creganna, the Irish medical device maker with operations in Marlborough, acquired Micromuscle AB and its Nobel Prize-winning artificial muscle technology for an undisclosed amount after the Swedish firm’s venture-capital backer backed out.
Linkoeping, Sweden-based Micromuscle’s electroactive polymer technology won the Nobel Prize in 2000, but the company was forced to shut down after one of its major VC investors pulled out.
