Pyng Medical (CVE:PYT) and Teleflex (NYSE:TFX) said yesterday that they closed their $8.6 million merger, making Pyng a subsidiary of Teleflex Canada. Teleflex paid 30.2¢ apiece for the roughly 28.5 million shares in Pyng, which makes intraosseous infusion technology, pelvic stabilization & emergency tourniquet devices. Pyng shareholders approved the takeover last week. The Supreme Court of British Columbia approved the deal March 29, the […]
Pyng Medical
Pyng Medical shareholders OK $9m Teleflex takeover
Pyng Medical (CVE:PYT) said yesterday that its shareholders approved an $8.6 million takeover offer from Teleflex (NYSE:TFX), setting the stage for the deal to close April 3. First announced in early February, the deal calls for a Canadian Teleflex subsidiary to pay 30.2¢ apiece for the roughly 28.5 million shares in Pyng, which makes intraosseous infusion technology, pelvic stabilization & […]
Distributor MDR Specialty snatches stake in Pyng Medical
Pyng Medical said it entered into a debt settlement in which it sold 2.8 million common shares to MDR Specialty Distribution for 5¢ per share. The deal was made to settle Pyng Medical’s obligations under a promissory note dated August 26, 2015, the company said. The purchase will pay off outstanding debts totaling $105,801 (CDN$138,258.36), […]
CardioFocus raises $11M in debt round | Wall Street Beat
CardioFocus added $11 million to its coffers in a round of debt financing from Oxford Finance and Silicon Valley Bank as it commercializes its HeartLight endoscopic ablation system overseas and winds up enrollment in a pivotal U.S. trial.
CardioFocus CRO Renny Clark said the funds will help the company prepare for its submission to the FDA for the HeartLight device, which combines an endoscope and a laser ablation device, according to a press release.
Second negative report hits Intuitive Surgical, but shares rally on positive Goldman Sachs update
Shares of Intuitive Surgical (NSDQ:ISRG) came under pressure early yesterday on a negative report from hedge fund Citron Research, before rallying after Goldman Sachs boosted its price target on the stock.
Lost lawsuit pushes HemCon Medical into bankruptcy | Wall Street Beat
HemCon Medical Technologies said it’s filing for Chapter 11 bankruptcy protection for its U.S. operation after losing a $34.2 million court decision last month, saying it plans to appeal the ruling.
In March a sharply split U.S. Court of Appeals for the Federal Circuit reversed course and reinstated a win for Marine Polymer Technologies in its wound dressing patent spat with HemCon.
Stryker ex-CEO MacMillan resigns from Texas Instruments board | Personnel Moves
Following his abrupt resignation from the corner office at Stryker Corp. (NYSE:SYK), Stephen MacMillan also stepped down from the Texas Instruments board of directors.
MacMillan had been on the board since 2008. No reason was given for his departure in regulatory filings.
AngioDynamics details $372M Navilyst buyout details | Wall Street Beat
Financial projections from AngioDynamics (NSDQ:ANGO) about its $372 million deal to acquire Navilyst Medical show that it expects to reap some significant rewards from the merger over the short and long terms.
Varian slides after-hours on lower Q1 profits | Earnings Roundup
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.
