Surgical device maker Teleflex (NYSE:TFX) won an FDA nod for its Weck reusable access devices, adding to the company’s product portfolio of laparoscopic instruments that help hospitals reduce waste.
Teleflex
Teleflex gains despite 50% Q3 profit slide
Teleflex (NYSE:TFX) shares gained 2.3% yesterday, despite a 3rd-quarter profit slide of more than 50%, as investors discounted the impact of an acquisition and the sale of the medical device company’s orthopedic OEM business.
Teleflex reported profits of 21.7 million, or 52¢ per share, on sales of $368.1 million during the 3 months ended Sept. 30, for a top-line increase of 1.5%.
McKesson to pay $2B for PSS World Medical | Wall Street Beat
McKesson (NYSE:MCK) agreed to pay $29 per share for PSS World Medical (NSDQ:PSSI) and its medical supplies business in a deal worth $2.1 billion.
Teleflex closes $276M LMA buyout | Wall Street Beat
Teleflex lands FDA nod for its disposable endobronchial blocker
Global medical device company Teleflex (NYSE:TFX) received FDA clearance for its Rusch EZ-Blocker disposable endobronchial blocker.
The device is designed to imitate the bifurcation of the trachea in order to enable safer lung isolation and single-lung ventilation to help doctors reduce the risk of dislocation during surgery.
FDA clears another Teleflex Arrow catheter
Teleflex (NYSE:TFX) won FDA 510(k) clearance for the latest in its line of Arrow devices, the FlexBlock continuous peripheral nerve block catheter.
The Arrow FlexBlock works with ultrasound imaging to place the catheter, with novel ultrasound visibility, flexibility and upgraded kink resistance, according to a press release.
Teleflex expands catheter OEM business | Wall Street Beat
Medtronic: Defibrillator market is stabilizing | Wall Street Beat
Funding: Medical device companies raise $70M | Wall Street Beat
Four medical device companies reeled in more than $70 million in recent weeks, to develop technologies including a laser scalpel for minimally invasive surgeries, a peripheral vessel stapler, a thermal ablation system and a biliary stent.
Cambridge, Mass.-based OmniGuide led the charge with a $35 million round from Orbimed Advisors. OmniGuide chairman Yoel Fink told MassDevice.com in 2010 that the device uses the mirror technology he pioneered at the Mass. Institute of Technology in the 1990s.
Medical Device Companies: Medtech’s best/worst valued stocks
One way to assess stock values is to compare the stock’s share price with its asset value.
The latter is the number of shares outstanding divided into total assets. When the result is compared with share prices, it can help investors decide whether a stock is over- or under-valued.
We took a look at the asset values for 15 of the world’s largest pure-play medical device companies and then compared them with the companies’ stock price.
Medical device companies: Who’s hiring?
The economic recovery has been slow going in the U.S. as the housing market and persistently high unemployment have proven particularly stubborn.
That’s why we were surprised, after looking at the employment numbers in our MassDevice Big 100 database, to find that only 3 of the largest 15 med-tech makers wound up cutting their global workforces last year.