J&J investor relations veep Mehrotra retires, Wolk steps up Johnson & Johnson (NYSE:JNJ) said today its 10-year vice president of investor relations Louise Mehrotra will retire, effective January 2017, to be replaced by Joseph Wolk, effective August 1. Wolk previously served as vice president of group finance for Johnson & Johnson’s pharmaceuticals deivision, and has […]
Ortho market growth stable but low | Wall Street Beat
The market for hip and knee implants is stable but mired in a low-growth stage, according to analysts who attended the American Academy of Orthopedic Surgeons conference in San Francisco last week.
Although the abrupt departure of Stryker CEO Steve MacMillan drew the lion’s share of attention at the AAOS event, analysts from Barclays Capital and Leerink Swann agreed that the sector’s outlook calls for low-single-digit growth.
Ortho stocks up on strong Q2 prelims for Biomet | Earnings Roundup
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
MassDevice.com +3 | Weight loss: FDA warns Lap-Band advertisers, MDT to pay $23.5M to settle kickback claims, Baxter inks $325M buyout pact with Synovis
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.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Baxter inks $325M buyout pact with Synovis | Acquisitions Roundup
Baxter International Inc. (NYSE:BAX) agreed to pony up $28 per share, or $325 million, for Synovis Life Technologies, Inc. (NSDQ:SYNO) and its lines of soft tissue repair and microsurgery products.
News of the deal sent SYNO shares up nearly 49 percent to $27.78 from yesterday’s close. BAX shares ticked up 0.3 percent to $49.93 as of about noon today.
Baxter inks $325M buyout pact with Synovis
Baxter International Inc. (NYSE:BAX) agreed to pony up $28 per share, or $325 million, for Synovis Life Technologies, Inc. (NSDQ:SYNO) and its lines of soft tissue repair and microsurgery products.
News of the deal sent SYNO shares up nearly 49 percent to $27.78 from yesterday’s close. BAX shares ticked up 0.3 percent to $49.93 as of about noon today.
Angeion reports losses in its Q3 numbers, blames CEO changes | Earnings Roundup
Angeion Corp. slipped into the red during the third quarter, reversing a $136,000 profit into an $81,000 loss for the three month period that ended on July 31, 2011.
Officials at the St. Paul, Minnesota-based cardiorespiratory diagnostic device maker blamed the reversal on legal fees and severance payouts to former CEO Philip Smith, who the company sacked after just five months on the job.
Smith was named Angeion’s CEO in November 2010, but departed after less than six months in charge.
Uroplasty beats Wall Street, closes near all-time high | Earnings Roundup
Uroplasty Inc. (NSDQ:UPI) beat Wall Street and closed near its all-time high after reporting strong top-line growth for the fourth quarter and full year today.
Cameron Health closes study enrollment for S-ICD | Research roundup
Here’s a roundup of recent clinical trial and scientific study news:
Bruker breaks annual sales record in spite of lower Q4 profits | Earnings roundup
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Synovis tissue repair technology buoys sales for 2010
Synovis Life Technologies Inc. (NASDAQ:SYNO) may not have generated many headlines this year, but the St. Paul, Minn.-based company has quietly produced a rather impressive annual performance.
This is especially the case when compared to what remains of the North Star State’s shrinking, publicly traded medical device sector.
