MASSDEVICE ON CALL — A look at the top 10 medical device makers found that more than half had little to no environmental initiatives in place.
In a study conducted by Green Research, the companies with stainability initiatives were:
The Medical Device Business Journal — Medical Device News & Articles | MassDevice
MASSDEVICE ON CALL — A look at the top 10 medical device makers found that more than half had little to no environmental initiatives in place.
In a study conducted by Green Research, the companies with stainability initiatives were:
Stryker’s (NYSE:SYK) former CEO, Stephen MacMillan, walked away from a pay package worth more than $9.5 million last year, SEC filings show.
MacMillan’s pay included more than $1.3 million in salary, $3.6 million in stock awards and $3.1 million in option awards in 2011, doubling the $4.7 million he received in 2010.
Standard & Poor’s Ratings Services affirmed Medtronic’s (NYSE:MDT) long-term debt’s “A+” rating yesterday, after the med-tech titan announced another debt offering.
The rating agency said its view of Medtronic’s senior unsecured notes and its stable rating outlook “reflect the company’s ‘strong’ business risk profile and ‘modest’ financial risk profile.”
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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Massachusetts medical device executives forecast job losses and budget-cutting for research & development efforts, as the industry nears the launch date of a 2.3% medical device excise tax.
Half of the 42 senior executives surveyed in the Bay State said they would slash R&D budgets and 25% said they would cut jobs at home and outsource manufacturing to lower-cost areas.
British orthopedic titan Smith & Nephew (NYSE:SNN) touted the results of a 10-year study of its metal-on-metal hip resurfacing implants, hoping to differentiate its implants from the high-profile recall of rival DePuy’s ASR device.
MASSDEVICE ON CALL — A team of U.K. researchers is calling for a ban on metal-on-metal hip implants, citing studies that demonstrate that they fail more often than other artificial hips, especially when used in women.
The 2.3% tax on revenues slated to go into effect next year for medical device makers could top $650 million for the med-tech companies covered by Moody’s Investor Services, according to a report by the ratings agency.
The tax will help slow EBIDTA growth rates for the med-tech sector to between 1% and 4% over the next year to 18 months, according to Moody’s, with organic growth rates of between 2% and 3% during that period.