Stocks in the medtech industry continue to impress as, over the past week, they set a new benchmark amid the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 95.05 (Oct. 9), marking a 5.9% gain from the 89.73 points registered at the […]
Steris Corp.
Steris to acquire Key Surgical for $850M
Steris (NYSE:STE) announced this week that it has agreed to buy Key Surgical, a manufacturer of disposable hospital and surgical products, for $850 million. Mentor, Ohio-based Steris said it expects that the acquisition will qualify for a tax benefit related to tax-deductible goodwill, effectively reducing the purchase price to approximately $810 million. Key Surgical, a portfolio […]
Steris ticks up on Street-beating Q1
Steris (NYSE:STE) shares ticked up as the market closed today after reporting first-quarter results that beat the consensus forecast. The Dublin, Ireland-based sterilization and surgical products company posted profits of $88.1 million, or $1.03 per share, on sales of $668.9 million for the three months ended June 30, 2020, for a 3.9% bottom-line gain despite a […]
FDA restricts re-use of certain respirators for COVID-19
Certain respirators made in China and respirators with exhalation valves should not be decontaminated for re-use by healthcare workers, the FDA announced today. The agency revised these respirators’ emergency use authorizations (EUAs) to reflect the changes. The particular respirators from China “may vary in their design and performance,” the FDA said, basing its decision on […]
Steris wins second EUA to decontaminate up to 30m respirators per day
Steris (NYSE:STE) has won an FDA emergency use authorization (EUA) for a new steam sterilization method to decontaminate used N95 respirators. The EUA covers the new Steris Steam Decon cycle to decontaminate 3M 1860, 3M 1860S, and 3M 1804 NIOSH-approved N95 respirators that are or might be contaminated with SARS-CoV-2 and other pathogenic microorganisms. The FDA […]
FDA issues EUA for Sterilucent N95 hydrogen peroxide sterilization
The FDA has granted Sterilucent emergency use authorization (EUA) for its hydrogen peroxide sterilizer for use with N95 and N95-equivalent respirators — the latest in a string of mask sterilizers receiving EUAs amid the coronavirus pandemic. Minneapolis-based Sterilucent’s HC 80TT vaporized hydrogen peroxide sterilizer may now be used to decontaminate the single-use compatible respirators that […]
Stryker gains emergency nod for respirator decontamination
The FDA has granted Stryker (NYSE:SYK) an emergency use authorization to decontaminate used N95 respirators using the company’s Sterizone VP4 sterilizer during the coronavirus outbreak. The Sterizone VP4 uses vaporized hydrogen peroxide to sterilize up to 20 of the masks in one cycle, according to the FDA. Stryker’s sterilizer is the fourth that uses vaporized hydrogen […]
Steris wins FDA nod to sterilize used respirators in hospitals
The FDA has granted Steris (NYSE:STE) emergency use authorization (EUA) for a vaporized hydrogen peroxide system to decontaminate up to 750,000 N95 respirators and equivalent masks per day in hospitals treating COVID-19 patients. The Steris V-PRO 1 Plus, maX and maX2 low-temperature sterilization systems use the Steris N95 non-lumen decontamination cycle. Hydrogen peroxide vapor fills the […]
How will coronavirus affect medtech companies that rely on elective surgeries?
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 […]
