Court transfers another Medtronic/NuVasive patent case to California
Osteotech Inc.
Osteotech’s waiting period waived for proposed Medtronic merger
The U.S. Dept. of Justice and the Federal Trade Commission handed Osteotech Inc. (NSDQ:OSTE) an early termination of the Hart-Scott-Rodino waiting period for the company’s proposed merger with Medtronic Inc. (NYSE:MDT), according to a regulatory filing.
The Eatontown, N.J.-based maker of bone-regenerative products announced the acceleration of the buyout process yesterday.
Medtronic offers $123 million for Osteotech
Medtronic Inc. (NYSE:MDT) to the rescue.
Less than a week after dissident shareholders prepared to stage a coup overthrowing the Osteotech Inc. (NSDQ:OSTE) board, the Fridley, Minn.-based medical device colossus swooped in to offer a $123 million buyout of the Eatontown, N.J.-based maker of bone-regenerative products.*
Osteotech girds for rumble with dissident investors
There’s a fight brewing in Eatontown, N.J., over who will get to determine the future direction of Osteotech Inc. (NSDQ:OSTE), as a group of dissident investors looks to elect its own slate of directors to the company’s board.
Ahead of a planned shareholders’ meeting August 23, the dissidents — Spencer Capital Opportunity Fund LP, Boston Avenue Capital LLC and Heartland Advisors Inc. — urged stockowners to vote for its slate of directors. A fourth fund, Kairos Partners III LLP (which owns another 5.3 percent of Osteotech) added its voice in support of the dissidents August 11.
Osteotech’s Q1 sales slide but losses narrow
Osteotech Inc. (NSDQ:OSTE) posted lower sales and net losses for the first quarter.
The Eatontown, N.J.-based regenerative therapy developer’s revenues dropped to $22.5 million from $23.9 million, down 5.9 percent. Excluding revenues from of private label sales and client services, sales grew 2.4 percent to $21.6 million. Revenues from new products were $1.8 million during the three months ended March 31.
Osteotech reports preliminary Q4 sales rose 7 percent
Osteotech Inc. (NSDQ:OSTE) posted preliminary fourth-quarter sales of $26.3 million and preliminary revenues of $96.7 million for 2009:
