The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
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Standard & Poor’s Ratings Services downgraded Medtronic’s (NYSE:MDT) credit rating after the company reported declines for its bread-and-butter CRM and spine businesses – which together accounted for more than 50 percent of its total Q2 revenues.
CRDM revenues were up 1.6 percent to $1.27 billion for the quarter, but defibrillator sales slid 5.0 percent to $708 million.
Standard & Poor’s relegated Kinetic Concepts Inc.’s bonds into junk status after a consortium led by Apax Partners took the wound care giant private last week.
The rating agency knocked its stance on KCI bonds down four rungs from "BB+" to "B," according to MarketWatch.
