Stericycle (NSDQ:SRCL) last month agreed to a tentative settlement with investors who brought a putative class action against it over allegedly fraudulent business practices. The agreement follows a similar, nearly $27 million settlement approved in February 2016 of a whistleblower lawsuit that accused the Lake Forest, Ill.-based medical waste disposal firm of overbilling federal and state governments. […]
Report: Med device recalls down in Q3
Medical device recalls fell by 21% to 284 in the third quarter of 2018, according to a report by Stericycle Expert Solutions. Machine failure was the top cause of recalls based on units, while software led the way based on numbers of recalls, the report says. The total number of medtech recalls for Q3 was lower […]
Stericycle Q3 beats EPS, misses sales expectations on The Street
Stericycle (Nasdaq: SRCL) today posted third quarter earnings that topped Wall Street expectations for earnings per share but missed revenue consensus. The Lake Forest, Ill.-based company posted profits of $23.5 million, or 20¢ per share, on sales of $854.9 million for the three months ended September 30, seeing profits drop 39.7% while sales shrunk a smaller 3.2% […]
Report: Med device recalls in Q2 highest since 2005
Medical device recalls during the second quarter hit 360, the highest amount seen since 2005, according to a new Stericycle Expert Solutions report. Recalls were up 17, or 5% from the previous quarter, according to the report. Recalled units decreased 80% to approximately 42.4 million, lower than eight of the previous 13 quarters, according to […]
Cantel Medical pays $17m for Stericycle’s clean room biz
Cantel Medical (NYSE:CMN) said today that it paid $17 million in cash to buy the clean room maintenance business from Stericycle (NSDQ:SRCL). The controlled environmental solutions business consists of the B&V Testing and Certco services, which provide testing & certification, environmental monitoring and decontamination services for clean rooms and other controlled environments. The CES business put up […]
Medical device recalls significantly increase during Q1
The medical device and pharmaceutical industries saw a significant spike in product recalls during the first quarter of 2018, according to the U.S. Recall Index released by Stericycle Expert Solutions. There was a 126% increase in medical device recalls in Q1 — the most in a quarter since 2005. Software problems made up about 22.7% […]
Stericycle reports mixed results for Q1
Medical and hazardous waste disposal and compliance company Stericycle (Nasdaq: SRCL) this evening reported mixed results for its first quarter ended March 31: Adjusted earnings per share beat the Street, but organic revenue was slightly down. Lake Forest, Ill.–based Stericycle earned $21 million, or 25 cents per share, during the first quarter, down from about […]
Survey: Millenials more likely to ignore recall notifications than boomers
Among a survey of over 1,000 Americans, millenials are least likely to comply with recall notices for food, pharmaceuticals, motor vehicles and consumer electronics. The consumer survey, commissioned by Stericycle Expert Solutions, found that people ages 18-34 are the least compliant with recall notices across all age groups. Compared to baby boomers, people ages 55 […]
Serious medical device recalls nearly doubled in Q2
Medical device recalls at the Class I level were up 88% during the second quarter of 2017, and the major culprit was quality issues involving device part malfunctioning, according to a new report from Stericycle ExpertSolutions. Quality played a significant role among the 15 serious medical device recalls during the second quarter, partly because it encompasses such […]
Report: Med device recalls up 44% in 2nd half of 2016
Medical device recalls were up for more than 40% during the 2nd half of 2016, according to a new report from Stericycle‘s (NSDQ:SRCL) ExpertSolutions business. There were more than 650 medical device recalls in the 3rd and 4th quarters, an increase of 44% compared with the 1st half of 2016, according to the report. That equates to […]
Report: Q3 medical device recalls hit highest point since at least 2000
Medical device recalls have reached their highest point since 2000, according to a new report from Stericycle‘s (NSDQ:SRCL) ExpertSolutions business. Numbers for med device recalls rose 29% over the previous quarter, according to the report, up to 339. Recalled devices increased 187% to approximately 116 million, the highest number since Q3 of 2012. At 59.1%, the […]
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