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 […]
Smith & Nephew escapes False Claims suit alleging gov’t hospital overcharging
A federal judge today dismissed a whistleblower case against Smith & Nephew (NYSE:SNN) claiming the company overcharged government-run hospitals for expedited delivery of medical products despite receiving significant discounts from shipping companies UPS and FedEx. Judge Indira Talwani for the US District Court of Massachusetts said last week that the plaintiff in the case, Cavallino Consulting, […]
Smith & Nephew gains on Q2 results
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 […]
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