The Medical Device Business Journal — Medical Device News & Articles | MassDevice
NuVasive (NSDQ:NUVA) is paying dearly for a $101 million judgment against it in a patent war with Medtronic (NYSE:MDT), as Wall Street investors pare nearly 14 percent from its share price today after the release of its third-quarter earnings.
Investors pounded NuVasive Inc. today, sending share prices down nearly 14 percent as of about noon, after the spine surgery company released its Wall-Street-beating third-quarter results.
Advanced Cell Technology (OTC:ACTC) appointed MIT professor and bioengineering legend Bob Langer to its board of directors, tapping him to lead its science advisory committee.
Langer has authored more than 1,100 journal articles, has more than 800 issued and pending patents and won the 2011 Warren Alpert Foundation Prize for bioengineering pioneers thanks to his work in drug delivery and tissue engineering.
PALO ALTO, Calif., Oct. 3, 2011 /PRNewswire/ — Varian Medical Systems (NYSE: VAR), today announced the promotion of several senior managers to support the company’s ongoing growth and safety initiatives.
The $10 million deal for Calypso Medical Technologies by Varian Medical Systems (NYSE:VAR) leaves a lot to be desired for Calypso’s legacy investors – namely, about $140 million.
Backers have poured more than $150 million into the Seattle-based company and its tumor-tracking technology since its 1999 inception.
Varian Medical Systems Inc., (NYSE:VAR) agreed to acquire Calypso Medical Technologies Inc. and its tumor-tracking system for $10 million in up-front cash plus undisclosed earn-outs.
Analysts at Zacks Investment Research see sunnier days ahead for the medical device sector during the second half of 2011, despite lingering economic softness and ongoing pressure on the orthopedic market.
Estimating worldwide sales of roughly $300 billion this year, the researchers peg the U.S. market’s share at about $95 billion in 2010.
MASSDEVICE WALL STREET ROUNDUP | One of Wall Street’s most notorious names raised its view of Covidien plc (NYSE:COV) today, setting a price target that’s 15 percent above yesterday’s closing price.
Although Goldman Sachs analysts stood pat on their “Buy” rating of the stock, which ended Monday at $52, they raised their price target to $60 and boosted the stock’s earnings estimate, ahead of the company’s plan to buy back up to 5 million shares of its own stock.
COV shares closed up 0.2 percent today at $52.08.
Boston Scientific Corp. (NYSE:BSX) and Varian Medical Systems Inc. (NYSE:VAR) posted recalls this month, with one company’s reports being noteworthy for timing along a growing issue in women’s health and one for frequency.
Boston Scientific’s surgical mesh recall caught attention for its coming up during ongoing FDA concerns about the side-effects of the transvaginal mesh devices in relation to their low clinical benefit.
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Endoscopic device maker Vision-Sciences Inc. (NSDQ:VSCI) announced that they had found someone to take over the corner office, naming Cynthia Ansari CEO.
Ansari steps will take over the top seat from interim CEO Warren Bielke, who has steered the company since his appointment in November, 2009, after previous CEO Ron Hadani resigned for personal reasons.
