One thing is likely to hurt some medtech companies more than others during the coronavirus pandemic: an elective surgical procedure slowdown. This thought had begun to emerge last week among industry watchers, but a pair of tweets over the weekend gained thousands of “likes” and retweets. The American College of Surgeons called for hospitals to […]
Medical device company stocks aren’t immune from coronavirus
Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
Report: “Unglamorous” medtech outshines biopharma in 2019
Medtech merger and acquisition deal announcements slowed in the first half of 2019, but the industry got a boost from Verily’s $1 billion round of funding — the largest ever for a medtech firm. The Verily round was twice the size of the biggest-ever VC deal for a biotech company, according to the Vantage Half-Year […]
Steris shares up on Q4, FY 2019 earnings beat
Shares in Steris (NYSE:STE) are up slightly in after hours trading today after the medical device maker posted fourth quarter and fiscal year 2019 earnings that topped expectations from Wall Street analysts. The Dublin, Ireland-based company posted profits of $108.7 million, or $1.27 per share, on sales of $768.2 million for the three months ended March […]
Steris, Karl Storz win $350m+ DoD contract extensions for integrated OR products
Steris (NYSE:STE) and Karl Storz have each won supply contract extensions with the U.S. Department of Defense worth over $350 million to supply the agency with integrated operating room components, accessories and services, according to a recently posted DoD release. Ireland-based Steris won a maximum $393.8 million contract to supply the Army, Navy, Air Force, Marine […]
Steris wins $48m DoD hospital equipment contract
Steris (NYSE:STE) has won a $48 million contract to supply the U.S. Department of Defense with hospital equipment and accessories, according to a recently released DoD posting. The deal comes through a five-year base contract with no option periods, according to the release. The contract was competitive, with a total of 74 responses received, according to […]
Report: Amazon adds MGH cardiologist Majmudar | Personnel Moves – August 21, 2018
Amazon (NSDQ:AMZN) has picked up well-known cardiologist Dr. Maulik Majmudar for a new role within the company as it looks to continue its foray into healthcare, according to a recent CNBC report. The announcement was made by Majmudar himself on Twitter, according to the report, though he did not state what his specific role within the […]
Steris gains on post-Synergy merger outlook
Steris (NYSE:STE) shares are up nearly 8% since the company last week issued its 1st post-merger guidance since its $2 billion merger with the U.K.’s Synergy Health, as investors reacted to a top-line growth forecast of 21% to 22% for fiscal 2016. Mentor, Ohio-based Steris closed the Synergy merger Nov. 2 in a so-called inversion deal, in which it re-incorporated as a […]
Steris closes $2B Synergy Health merger
As expected, Steris (NYSE:STE) said today that it closed a $2 billion merger with the U.K.’s Synergy Health, after the U.S. Federal Trade Commission last week abandoned its bid to block the union. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today the Mentor, Ohio-based company said […]
Steris to close $2B Synergy Health buyout next week
Steris (NYSE:STE) said today that it expects to close the $2 billion merger with the U.K.’s Synergy Health next week, reporting fiscal 2nd-quarter numbers that beat expectations on Wall Street despite a -72% bottom-line plunge. Last month a federal judge today shot down the U.S. Federal Trade Commission’s bid to block the pending, $1.9 billion merger. Today Steris said it […]
Steris shareholder sues over exec tax reimbursements
A Steris (NYSE:STE) shareholder sued the company over issues with tax reimbursements being distributed to board members and executives to cover tax liability due to the company’s merger with Synergy Health, according to an SEC filing. U.S. tax laws impose a 15% excise tax on stock owned by executives and directors for the 6 months before […]
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