The pair of companies have been working together since 2006 to develop technologies to improve ultrasound sterilization systems, according to a press release.
Shares of Varian Medical Systems (NYSE:VAR) sank in after-hours trading yesterday as Wall Street reacted to shrinking profits during the company’s 1st quarter for fiscal 2012.
The Palo Alto, Calif.-based oncology and X-ray products maker posted $625 million in sales during the three months ended Dec. 30, 2011, up 7.8% from $580 million sold in the same period in 2010.
The new CEO at Wright Medical Group Inc. (NSDQ:WMGI) will make $750,000 a year in base pay and have a shot at another $750,000 in performance bonuses, according to the terms of his deal with the orthopedic device maker.
Wright tapped Robert Palmisano, 67, to be its new chief executive earlier this week. He takes over for interim president David Stevens, who had kept watch since former CEO Gary Henley resigned suddenly after a kickbacks scandal last year.
Could the amicable deal between bitter rivals Johnson & Johnson (NYSE:JNJ) and Boston Scientific (NYSE:BSX) over Michael Mahoney leaving J&J to helm BSX signal an upcoming acquisition?
Opinions are divided on Wall Street, with at least one analyst wondering if a deal could be in the works and others casting doubt on the speculation.
Closing an agreement that’s been in the works since January, SyntheMed, Inc. (OTC:SYMD), a biomaterials company, changed its name to Pathfinder Cell Therapy, after merging with the biotechnology company.
Richard Franklin, who was President & CEO of Pathfinder, will keep his corner office and Joerg Gruber, a former director of SyntheMed will serve as chairman of the board for the newly created company.
Thermo Fisher Scientific Inc. (NYSE:TMO) closed its highly anticipated $3.6 billion acquisition of Swedish blood test maker Phadia.
The all-cash deal, which is closed yesterday, gives Thermo Fisher expanded reach in specialty diagnostics. Phadia supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests.
St. Jude Medical Inc. (NYSE:STJ) announced today that it won U.S. Food & Drug Administration clearance for its Epiducer lead delivery system for neurostimulation in treatment of chronic pain.
The clearance is the first of its kind for the U.S. The device allows physicians to place multiple neurostimulation leads and different types of leads through a single entry point, reducing the need for the multiple incisions typically required.