Share prices for Smith & Nephew (NYSE:SNN) are up today after the medical device company reported second-quarter numbers that beat expectations. Smith & Nephew posted sales of $1.25 billion during the three months ended June 30, up 4.3% over Q2 2017. The company, which no longer reports first- or third-quarter earnings results, said operating profits […]
Smith & Nephew warns on first-gen Journey BCS knee revision rate
Smith & Nephew (NYSE:SNN) recently released an urgent field safety notice warning of issues with components in the first generation of its Journey BCS knee system that can lead to a higher rate of revisions than expected. The notice, originally sent in June, warned that post-market surveillance data showed that patients implanted with the first gen […]
Move carefully to the exit, veteran medtech sellers warn
Beyond their altruistic and sales goals, medical device startups generally keep an eye out for the exit. Getting there requires planning, patience and persistence, according to a couple of medtech executives who’ve been through it. Martha Shadan headed Plymouth, Minn.–based Rotation Medical, a private company sold to Smith & Nephew in December 2017, just three […]
Smith & Nephew cuts outlook weak Q1 results
Smith & Nephew (NYSE:SNN) today cut its outlook for the rest of the year after reporting “weaker” first-quarter results, sending share prices down in London and New York. The orthopedics and wound care giant posted sales of $1.20 billion for the three months ended March 31 (the company no longer reports first- or third-quarter earnings), […]
Medin Technologies taps Donaldson as CEO | Personnel Moves – April 25, 2017
Medin Technologies said last week it tapped Bill Donaldson as its new chief executive officer, replacing Andy Novotny who is resigning from his position at the head of the company. Prior to joining Medin Technologies, Donaldson served as president of Jeld-Wen Canada, leading the business unit during its parent company’s initial public offering, Totowa, N.J.-based […]
Sunrise Labs executes succession plan | Personnel Moves – April 5, 2018
Medical device and life science development group Sunrise Labs said this week that it completed its succession plan, with president Eric Soederberg acquiring the majority of shares in the company through a stock sale with founder and board chair Drew Sunstein. With the transaction, the Bedford, N.H.-based company said that it secured its planned ownership […]
Smith & Nephew to name ex-Alere chief exec Nawana as CEO
Smith & Nephew (NYSE:SNN) is slated to announce tomorrow that it has tapped former Alere (NYSE:ALR) CEO Namal Nawana as its new chief executive officer, according to a report from Sky News. The company has been searching for a replacement since last October, when current head Olivier Bohuon announced plans to retire from the corner office. Bohuon […]
Second Sight Medical taps Blake as CFO | Personnel Moves – March 27, 2018
Second Sight Medical (NSDQ:EYES) said last week it named John Blake as its new chief financial officer, succeeding Thomas Miller who has held the position since 2014. Before joining Second Sight Medical, Blake acted as finance senior VP at Tyr Pharma, and has held positions with Volcano Corp and BD Biosciences, the company said. Blake worked with […]
Smith & Nephew can’t slip metal-on-metal hip implant MDL
A Maryland federal judge yesterday shot down a bid from Smith & Nephew (NYSE:SNN) to dismiss negligence, failure to warn and breach of warranty claims in a multi-district litigation case concerning the company’s Birmingham hip resurfacing metal-on-metal hip implant. London-based Smith & Nephew were looking to dismiss the case, stating that claims in the MDL were […]
Smith & Nephew to add 100 jobs in $29m Texas expansion
Smith & Nephew (NYSE:SNN) today announced a $29 million project to expand its Fort Worth, Texas-based facilities, which looks to add an additional 100 jobs. As part of the expansion, the London-based company has received a grant worth $730,000 from the Texas Enterprise Fund, according to a posting from the Office of the Texas Governor. “This new […]
Appeals court upholds patent ruling for Smith & Nephew
The U.S. Court of Appeals for the Federal Circuit this week upheld a Smith & Nephew (NYSE:SNN) patent in a spat between the company and Hologic (NSDQ:HOLX). The patent relates to endoscope technology used for the removal of uterine tissue, and is owned by both Smith & Nephew and Medtronic (NYSE:MDT) subsidiary Covidien, according to court documents. The […]
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