Smiths Group (LON:SMIN) posted better-than-expected 1st-half profits as growth at its Smiths Medical division made up for poor performance at its John Crane mechanical seals unit. Overall profits slid -8.5% for the 6 months ended Jan. 31 to $197.5 million (£140 million), or 46¢ per share (£0.325). Sales were down -3.1% to $19.84 billion (£1.37 billion) compared […]
MASSDEVICE ON CALL — Smiths Medical is looking to expand its workforce by up to 35 employees as it fills out its expanding facility in Connecticut.
The device maker dedicated $1 million to adding a 20,000 square-foot facility to its existing 125,000 square-foot plant in Southington. The plants are just a street apart, according to a local report.
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 Medical won 501(k) clearance from the FDA for its CADD-Solis infusion pump, indicated to help treat pain.
Smiths hopes to market the device for use in post-operation pain management as well as for delivery of epidural analgesia during labor and delivery, the company said.
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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).
CardioFocus added $11 million to its coffers in a round of debt financing from Oxford Finance and Silicon Valley Bank as it commercializes its HeartLight endoscopic ablation system overseas and winds up enrollment in a pivotal U.S. trial.
CardioFocus CRO Renny Clark said the funds will help the company prepare for its submission to the FDA for the HeartLight device, which combines an endoscope and a laser ablation device, according to a press release.
MASSDEVICE ON CALL — The FDA put its highest-risk stamp on Smiths Medical’s alarm cable recall, warning that a rare issue may cause patients harm or even death.
The BCI remote alarm cables are meant for use with Smiths Medical’s 9004 Capnocheck Capnography systems, transferring alarms from the system to a remote alarm system.