St. Jude Medical‘s (NYSE:STJ) largest investor boosted its stake by more than 30%, to some 27.2 million shares, or about 10% of the medical device maker.
St. Jude Medical’s largest backer boosts stake by 30% | Wall Street Beat
Bovie swings to 2011 black | Earnings Roundup
Abbott brass takes pay cuts | Personnel Moves
Elekta’s Q3 sales spike, earnings soar | Earnings Roundup
“Exit hangover” casts a pall on private equity | Wall Street Beat
Private equity players are in for some stiff competition this year, as large-cap PE shops invade the middle-market space, according to a report from PE stalwart Bain & Co.
The company’s Global PE Report details a huge “exit overhang” – more aptly deemed an “exit hangover” by PE Hub’s Jonathan Marino – as PE-backed companies seek exits.
And the mega-deals of the past 10 years or so are a thing of the past, according the report, as detailed by Marino.
Edwards lands CE Mark for Intuity valve | Regulatory Roundup
Edwards Lifesciences Corp. (NYSE:EW) landed CE Mark approval in the European Union for its Intuity valve system.
The Intuity valve, made of bovine pericardial tissue, is a minimally invasive option for patients in need of aortic valve replacement.
Stereotaxis shares risk delisting as share prices linger below $1
Stereotaxis (NSDQ:STXS) received notice from the NASDAQ stock exchange that it could be delisted if its share prices stay below the $1 mark.
The robotic cardiac surgical systems maker has until July 18 to boost its share value, which has been trading under the $1 mark since closing at 95 cents Dec. 7, 2011.
Shares have hovered around 80 cents for most of January and closed at 80 cents today.
Diabetes: GE invests in non-invasive continuous glucose monitors | Funding Roundup
GE Healthcare (NYSE: GE) invested an undisclosed amount into C8 Medisensors, a developer of non-invasive continuous glucose monitors for diabetic patients.
C8 aims to provide glucose monitoring that is "painless, accurate, continuous, noninvasive, and nonintrusive to your life," according to its website.
The San Jose, Calif.-based company’s glucose monitors use light spectroscopy to measure blood glucose levels without the need for frequent finger pricks.
CareFusion’s bottom line up 76 percent | Earnings Roundup
CareFusion Corp.’s (NYSE:CFN) first-quarter profits are up 76 percent from 2011 numbers for the three months ended Sept. 30, in spite of a recall of its Avea ventilators.
CareFusion posted profits of $67 million, or 30 cents per share, on a sales of $844 million for the quarter – a top-line increase of 4.1 percent compared with $811 million during the same period last year. But Q1 2011 profits were only $38 million, or 17 cents per share.
Kensey Nash wins $1.9M government grant | Funding Roundup
Kensey Nash Corp. (NSDQ:KNSY) landed a small business innovation research grant from the National Institutes of Health to investigate the use of surgical mesh for tendon repair procedures.
The two-year, $1.9 million grant will allow the Exton, Pa.-based regenerative medicine developer to investigate the ability of its bioadhesive mesh to improve standard sutured tendon repair.
Shareholders sue Stereotaxis after dismal Q2 results
Shareholders of Stereotaxis Inc. (NSDQ:STXS) are suing the company and its management, accusing them of misleading investors about its backlog of orders, even as senior executives take voluntary pay cuts through 2013.
The lawsuit alleges that the St. Louis-based company, CEO Michael Kaminski and former CFO Daniel Johnston misled investors about its market position, claiming a large backlog of orders for its Niobe and Odyssey systems.
