There was no reason given for Seshadri’s departure. He joined the company in 2006 and helped navigate some tough times when it was under-performing, Smiths said.
Smiths Group plc
European engineering conglomerate Smiths Medical confirmed late last week that it had received an offer for its medical division, refusing to divulge any other details of the "early stage" discussions.
Groups purporting to have inside information about the talks have reported that Smiths Group has taken steps to align Smiths Medical as a stand-alone entity and that it may sell for more than $2.62 billion (£2 billion).
Med-tech goliath Medtronic Inc. (NYSE:MDT) announced plans to add to its workforce while Smiths Medical ponders plant closures and jobs cuts for its global detection devices branch.
Minneapolis, Minn.-based Medtronic announced that it will pump $50 million into expanding its Puerto Rican operations over the next three years, which will include about 200 new workers there.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days: