Smith & Nephew (NYSE:SNN) is in discussions to pick up spine-focused medtech developer NuVasive Inc. (NSDQ:NUVA) in a deal that could be worth more than $3 billion, according to a report from the Financial Times released late last week. The companies have not officially commented on the possible acquisition. NuVasive has a market valuation of approximately $2.6 […]
Smith & Nephew shares up on Q4, FY2018 results
Shares in Smith & Nephew (NYSE:SNN) are rising today after the medical device maker posted fourth quarter and full year 2018 earnings, and guidance for the coming year, mostly in line with analyst’s expectations. For its fourth quarter, the British medtech company reported sales growth of approximately 1.3% to $1.29 billion, just behind analyst’s expectations of […]
Smith & Nephew closes Ceterix buyout
Smith & Nephew (NYSE:SNN) said today that it completed its $50 million acquisition of Ceterix Orthopaedics and its NovoStitch Pro meniscal repair system. The deal could bring in an additional $55 million, according to Smith & Nephew, based on financial performance. The NovoStitch Pro device enables surgeons to repair arthroscopically horizontal, radial, complex, bucket handle and […]
Trice Medical adds $18m extension to Series C round
Trice Medical said today that it added more than $18 million to the $19 million Series C round it closed back in 2017. Malvern, Pa.-based Trice, which makes the Mi-eye 2 and Mi-ultra orthopedic diagnostic devices, first closed its $19.3 million C round in June 2017. That tranche was led by Smith & Nephew (NYSE:SNN) and included Safeguard Scientifics (NYSE:SFE), […]
Ex-ArthroCare CEO Baker loses appeal of 20-year sentence
A federal appeals court this week upheld the 20-year sentence imposed on former ArthroCare CEO Michael Baker after his second conviction in a $750 million fraud case. Baker and ex-ArthroCare CFO Michael Gluk were first convicted in June 2014 on charges that they ran a scheme to inflate revenues by dumping inventory, first with a distributor called DiscoCare and eventually via free shipments […]
Insulet taps former Medtronic finance exec McMillan as CFO | Personnel Moves – January 8, 2019
Insulet (NSDQ:PODD) said yesterday that it tapped former Medtronic minimally invasive therapies CFO and finance VP Wayde McMillan as its new chief financial officer, replacing Michael Levitz. The Acton, Mass.-based diabetes-focused medtech company said that McMillan will join the company in February and that Levitz will continue as an advisor for a period following the […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
Smith & Nephew to pay up to $105m for Ceterix Orthopaedics
Smith & Nephew (NYSE:SNN) today announces that it has agreed to acquire Ceterix Orthopaedics and its NovoStitch Pro knee repair device. The deal calls for the British orthopedics and wound care giant to put up $50 million in up-front cash, with another $55 million due over the next five years, pegged to financial performance. Fremont, Calif.-based […]
Smith & Nephew up on Q3 sales gain
Investors pushed share prices for Smith & Nephew (NYSE:SNN) up in London and New York today after the medical device giant posted a third-quarter revenue gain and confirmed its outlook for the rest of the year. The British orthopedics and wound care firm reported that sales grew 1.5% to $1.15 billion during the three months […]
Smith & Nephew launches portable negative pressure wound therapy system
Smith & Nephew announced today that it has launched its Pico 7Y single-use negative pressure wound therapy system (sNPWT) in Europe. The system features AirLock technology and includes an integrated Y extension that allows for two dressings to be used from one pump to allow for two wounds to be treated at the same […]
ConforMIS claims $11m win in patent infringement case against Smith & Nephew
ConforMIS (NSDQ:CFMS) today claimed a win in a patent infringement lawsuit against Smith & Nephew (NYSE:SNN) over technology for patient-specific knee implants. Bedford, Mass.-based ConforMIS sued the British healthcare giant in 2016 in the U.S. District Court for Massachusetts, alleging infringement of eight patents by Smith & Nephew’s Visionaire cutting guides. Billed as “custom fit,” the Visionaire guides are used with […]
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