The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Nuance Communications (NSDQ:NUAN) CEO Paul Ricci allegedly tried to lay $5 million bribes before a trio of executives at competitor Vlingo Inc. in an effort to force through a below-market-price buyout, according to a lawsuit filed by Vlingo against its Massachusetts peer.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with Massdevice +3.
Covidien Plc. (NYSE:COV) announced a new agreement for a five year $1.5 billion senior unsecured revolving credit facility, secured through subsidiary Covidien International Finance S.A.
The new agreement replaces a prior five-year senior credit facility that was slated to mature in April 2012, and the funds will be allocated for general corporate purposes, including working capital and capital expenditures.
Updated: 7/28/2011 10:30 a.m.
Royal Philips Electronics’ (NYSE:PHG) health care division posted modest second quarter growth while the company overall slid hard into the red on weak markets and impairment charges.
"Healthcare achieved robust growth of 8 percent, exceeding expectations," newly appointed president & CEO Frans van Houten said during a conference call with investors.
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:
UPDATE: Dec. 17, 3:57 p.m.
Orthofix International NV (NSDQ:OFIX) is streamlining its operations, aiming to save up to $7 million a year.
