Symmetry Medical (NYSE:SMA) saw its 2nd-quarter profits plunge more than 28% on flat sales and lowered its outlook for the balance of the year.
Symmetry Medical Inc.
Symmetry Medical COO Chris Huntington steps down | Personnel Moves
Symmetry Medical (NYSE:SMA) said its chief operating officer Chris Huntington has left the company. Huntington founded Everest Metal Orthopedics and joined Symmetry amid a 2006 merger. He was promoted within Symmetry from his initial position as VP of business development.
Accuray slides on lowered sales outlook | Earnings Roundup
Accuray (NSDQ:ARAY) shares are down nearly 10% today as investors react to wider 3rd-quarter losses and a lower sales forecast for the rest of fiscal 2012.
The Sunnyvale, Calif.-based radiosurgery device maker reported losses of $14.9 million, or 21¢ per share, on sales of $101.8 million during the 3 months ended March 31.
NuVasive swings to Q4, 2011 red | Earnings Roundup
NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.
The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.
Will Advanced BioHealing pay off for Shire with a buyout deal? | Wall Street Beat
Buyout chatter pushed shares of Shire plc (FTSE:SHP) up nearly 2% in London yesterday and added 1.4% on Wall Street.
MassDevice.com +3 | The top 3 med-tech stories for February 2, 2012.
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Symmetry Medical subsidiary’s reps charged with years of cooking the books
A former Symmetry Medical (NYSE:SMA) executive and 3 former employees fingered for accounting fraud consented to judgment this week, looking to close the book on a scheme that inflated the company’s share value by up to 20% and potentially cost shareholders up to $120 million.
All 4 defendants belonged to Thornton Precision Components, a British company that Symmetry acquired in December 2004.
MassDevice.com +7 | Symmetry bags J&J arm, SNN Layoffs, Ortho slides after CMS announcement, MDT to pay $23.5M, FDA warns Lap-Band advertisers, Chinese hackers hit BSX and major shareholders dumb Bard stock in Q3
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’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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MassDevice.com +3 | Orthopedic players slide after CMS announcement, Symmetry Medical bags J&J surgical instruments arm for $165M, Breast cancer: Varian’s FDA clearance
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three 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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Symmetry Medical bags J&J surgical instruments arm for $165M | Acquisitions Roundup
Orthopedic company Symmetry Medical (NYSE:SMA) signed a definitive agreement to acquire the surgical instrument business of Johnson & Johnson (NYSE:JNJ) subsidiary Codman & Shurtleff for $165 million cash.
Symmetry plans to integrate its current hospital direct business, Specialty Surgical Instrumentation, with Codman’s line of surgical instruments.
Neoprobe no more? Neoprobe sells device arm and name to Devicor for up to $50 million | Acquisitions roundup
Cancer diagnostics firm Neoprobe Corp. (NYSE Amex:NEOP) gave up more than its radiation detection arm in a recent deal with Devicor Medical Products Inc.; it gave up its name.
The deal, worth $30 million up front and up to $20 million in royalties over the next six years, transforms Dublin, Ohio-based Neoprobe into a pure player radiopharmaceutical company, complete with a new identity.