Ra Medical Systems (NYSE:RMED) announced today that it received notice that is is no longer in compliance with the New York Stock Exchange’s listing standards. The Carlsbad, Calif.-based company learned that it is not complying with the NYSE continued listing standard that requires companies to maintain an average closing share price of at least $1 over […]
Ra Medical Systems prices $10m public offering
Ra Medical Systems (NYSE:RMED) announced today that it priced a public offering of its common stock with gross proceeds expected to reach approximately $10 million. The Carlsbad, Calif.-based company is offering more than 22.2 million shares of common stock (or common stock equivalents) with accompanying warrants to purchase up to 22.2 million shares of common stock, […]
Ra Medical Systems appoints new CEO
Ra Medical Systems (NYSE:RMED) this week said it appointed Will McGuire as CEO, effective March 30. Andrew Jackson has served as interim CEO since August and will remain as the company’s chief financial officer. “Will’s extensive industry experience, particularly in the vascular space, makes him an ideal fit to lead Ra Medical,” chairman Martin Colombatto said […]
NYSE accepts Ra Medical’s compliance plan
Ra Medical Systems (NYSE:RMED) announced today that the New York Stock Exchange (NYSE) accepted its business plan to regain compliance with the NYSE continued listing standards. In December 2019, Carlsbad, Calif.-based Ra Medical Systems received a letter from the NYSE to notify the company of its non-compliance with the NYSE continued listing standards, as Ra Medical’s […]
Ra Medical Systems wins FDA’s OK to study new uses for Dabra system
Ra Medical Systems (NYSE:RMED) announced today that it won investigational device exemption approval to study use of its Dabra excimer laser system as an atherectomy device to treat peripheral vascular stenoses. The Dabra system is designed to destroy arteriosclerotic blockages through the use of radiation ablation. The system won FDA 510(k) clearance in May 2017 for the […]
Ra Medical appoints VP of engineering
Ra Medical Systems (NYSE:RMED) today said it appointed Chris Folk as VP of engineering, effective Jan. 13. Folk has more than 20 years of engineering experience in medtech and has led a number of design, development and engineering initiatives of medical devices. He will report directly to interim CEO and chief financial officer Andrew Jackson. “Chris […]
Ra Medical shares begin recovery following report of Q3 losses, material weakness
Ra Medical Systems (NYSE:RMED) reported third-quarter losses of $17.4 million last week amidst an internal investigation into failures surrounding its Dabra laser catheters and other shortcomings. That investigation, announced in August, recently revealed deficiencies in its internal controls that constitute a material weakness and could have resulted in material misstatements or omissions to its financial statements […]
These 10 medtech companies care a lot about research
These 10 medical device companies spent the largest portion of their budgets on research and development. Here’s a look at what they produced. Each year, Medical Design & Outsourcing compiles a list of the top 100 medical device companies across the globe and ranks the companies based on annual revenue for the most recent fiscal year. We […]
Internal probe finds major problems at Ra Medical
Ra Medical Systems (NYSE:RMED) said yesterday that an internal investigation found failures surrounding its Dabra laser catheters among other shortcomings. The Carlsbad, Calif.-based company announced the investigation in August after allegations were raised by an employee and additional issues were uncovered over time. In the same announcement, the company ousted CEO, co-president & CTO Dean Irwin […]
Ra Medical recalls Dabra laser catheters
Ra Medical Systems (NYSE:RMED) last week began a voluntary recall of its Dabra laser system single-use catheters due to a calibration problem. The Dabra laser system has experienced inconsistent performance because of catheters that fail to calibrate before procedures, which can result in a temporary delay, according to an SEC filing. Ra Medical’s review of the […]
Biomet vet Serbousek to succeed Mason as Orthofix CEO | Personnel Moves, August 13, 2019
Orthofix (NSDQ:OFIX) last week named a successor for president & CEO Brad Mason in November, tapping Jon Serbousek as president of its spine business effective August 5. Mason is slated to retire Oct. 31; Serbousek, a 30-year medtech veteran with stints at Biomet, Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) unit DePuy Orthopaedics, is due to […]
