Medtronic (NYSE:MDT) said that it named Sean Lennon as its new chief information officer, set to take effect April 29. The Fridley, Minn.-based medtech giant said that Lennon will take over for Mike Hedges, who is retiring from the position after 19 years with Medtronic, including 10 as CIO. Prior to joining Medtronic, Lennon served as […]
Owens & Minor inks distribution deal with Scripps Health
Owens & Minor (Mechanicsville, Va.) has signed a five-year medical and surgical supply distribution agreement with Scripps Health. The financial details of the deal were not disclosed. Scripps Health is a California-based healthcare system that treats more than 750,000 patients annually. Under the agreement, Owens & Minor will serve Scripps Health’s five acute-care hospital campuses and […]
Google taps ex-Geisinger CEO Feinberg to lead consolidated Google Health biz | Personnel Moves – November 14, 2018
Google (NSDQ:GOOG) has picked up former Geisinger Health CEO David Feinberg to lead its fragmented health divisions under the Google Health moniker, according to a recent CNBC report. The tech giant had been searching for a head for several months, with artificial intelligence head Jeff Dean heavily involved in the process, according to the report. Other […]
The 20 largest medical device companies in the world
The medical device industry saw even more consolidation over the past year, as evidenced by Medical Design & Outsourcing‘s newest Big 100 list. It used to be that a company had to have at least $100 million in annual revenue to make it on the list. This time around, No. 100 on the list is […]
Halyard Health posts Street-beating Q4, full-year results
Shares in Halyard Health (NYSE:HYH) fell slightly today after the medical device maker met expectations on Wall Street with its fourth quarter and full-year finances. The company is in the middle of a $710 million divestiture of its surgical and infectious disease prevention business to Owens & Minor (NYSE:OMI), so it reported financial results for both on-going […]
Owens & Minor shares tumble on prelim 2017 earnings miss
Owens & Minor (NYSE:OMI) shares have fallen today after the company released preliminary results for its full fiscal year 2017 that missed analyst expectations on Wall Street. The Richmond, Va.-based company said it expects to post non-GAAP adjusted earnings per share of between $1.58 and $1.61 for the full year, with revenues between $9.2 billion and […]
Is tax reform good or bad for medical device companies?
Medical device companies and others in the healthcare sector stand to benefit from the tax reform Congress passed at the end of 2017, but the picture isn’t entirely rosy, according to a new report from S&P Global Ratings. In many ways, the report offers a corrective to the bullish statements coming from corporate CEOs such […]
Owens & Minor to buy Halyard Health’s infection prevention biz for $710m
Owens & Minor (NYSE:OMI) agreed to pay $710 million to acquire Halyard Health‘s (NYSE:HYH) surgical and infection prevention business. The deal, expected to close during the first quarter next year, adds $1 billion in revenues and $80 million in earnings before interest, taxes, depreciation & amortization to Owen’s & Minor’s books annually. “Halyard’s S&IP business […]
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