Shares of Varian Medical Systems (NYSE:VAR) sank in after-hours trading yesterday as Wall Street reacted to shrinking profits during the company’s 1st quarter for fiscal 2012.
The Palo Alto, Calif.-based oncology and X-ray products maker posted $625 million in sales during the three months ended Dec. 30, 2011, up 7.8% from $580 million sold in the same period in 2010.
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
After a firm rejection of its buyout offer, Alere Inc. (NYSE:ALR) has started pleading to the sensibilities of Scottish competitor Axis-Sheild’s shareholders. This is not the first time the two firms have traded statements since Alere first offered its buyout in June.
Proposed Acquisition of the OCT and ultrasound business and assets of OPKO Health, Inc.
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22 September 2011 – Optos plc (LSE: OPTS), a leading medical retinal imaging company, announces that it has entered into a conditional agreement with OPKO Health, Inc., OPKO Instrumentation, LLC, Ophthalmic Technologies Inc. and OTI (UK) Limited to acquire the assets and business of the instrumentation division of OPKO. OPKO Instrumentation is engaged in the development, manufacture and sale of optical coherence tomography (“OCT”) diagnostic devices and optical ultrasound scanners, each used by the ophthalmic and optometric professions in the diagnosis and management of eye disease and conditions.
Optos plc (LON:OPTS) agreed to pay $17.5 million plus royalties for Opko Health Inc.’s (NYSE:OPK) ophthalmic instruments operation.
Miami-based Opko Health said the deal is for its “worldwide activities for the development and commercialization of ophthalmic diagnostic imaging systems,” according to a press release. The plan is to integrate Opko’s OCT SLO device into Optos’ widefield technology, according to the release.
Shares of Optos plc (LSE:OPTS) gained 6.4 percent after the company announced that the FDA granted 510(k) clearance in the U.S. for its Project Daytona retinal scanning device.
The British ophthalmology device maker’s stock closed at £1.62 today (about $2.64), up about 15 cents since August 25, the day before the clearance announcement, when OPTS shares closed at £1.52 ($2.49) on the London Stock Exchange.
Optos plc (LON:OPTS) commenced a proposed takeover of Opto Global Holdings Pty Ltd with an offer worth up to $14.8 million.
The Scotland-based medical retinal imaging device firm wants to build up its product offering in the U.S. and Europe while expanding into Opto Global’s markets "in the Far and Middle East, Australasia, Africa and Latin America," according to the company.
Optos plc (LSE:OPTS) posted sales of $97.2 million during fiscal 2009, down 3.6 percent compared with $100.8 million during fiscal 2008, and dipped into the red after spending more than $6.3 million in a soup-to-nuts restructuring.
The British retinal imaging firm, which has operations in Marlborough, Mass., posted a net loss of $4.3 million, or 6.1 cents per diluted share, compared with net profits of $4.6 million, or 6.6 cents per diluted share, during the prior year.