Abaxis said it bought QCR & Trio Diagnostics, its distribution partner for veterinary products in the U.K. and Ireland.
The deal closed on Nov. 17, Abaxis said. Financial terms were not disclosed.
MASSDEVICE ON CALL — Veterinarian groups have joined up with medical device industry lobbyists in opposing the 2.3% medical device sales tax contained in the Affordable Care Act.
Designed to help fund healthcare reform, the tax unfairly affects veterinarians, who aren’t getting any sort of perks from ACA in terms of new patients, according to the American Veterinary Medical Assn.
The field of transcatheter mitral valve repair may move more quickly in pet populations than it does in human medicine, according to a presentation during this week’s American College of Cardiology conference in San Francisco.
Researchers are hard at work on a technology, called MitralSeal, they they hope to bring to market to treat mitral valve regurgitation in dogs.
MASSDEVICE ON CALL — Solos Endoscopy Inc. (PINK:SNDY) announced that it has launched its revamped veterinary product line of endoscopic equipment, scopes and instruments.
Veterinary endoscopy involves minimally invasive techniques for performing procedures through natural holes in the body rather than through large incisions.
The American Pet Products Assn. estimates that consumers spent more than $45 billion on pets in 2009, and more than $12 billion was on veterinary care.
IDEXX Laboratories Inc. (NSDQ:IDXX) lowered its guidance for full-year sales growth despite a second quarter that saw it boost its bottom line by 10 percent.
The Westbrook, Maine-based veterinary diagnostics maker reported net earnings of $37 million, or 62 cents per diluted share, on sales of $281 million during the three months ended June 30. That compares with net earnings of $33.7 million, or 55 cents per diluted share, on sales of $266 million during the same period last year.
IDEXX Laboratories Inc. (NSDQ:IDXX) beat its own earnings expectations during the first quarter, posting net income of $33.0 million, or 55 cents per diluted share, on sales of $268.5 million.
That’s an earnings increase of 26.7 percent for the Westbrook, Maine-based veterinary diagnostics maker, compared with the $26.1 million (43 cents per diluted share) in net income it posted during Q1 2009. Revenues for the three months ended March 31 were up 13.6 percent compared with the $236.5 million IDEXX posted during the year-ago quarter.
IDEXX Laboratories Inc. (NSDQ:IDXX) is looking to do some major renovations to its Westbrook, Maine headquarters.
The veterinary diagnostics maker said it is investing $50 million to build a 200,000-square-foot corporate administrative building, a move the company said could result in the addition of 500 new jobs. IDEXX employs about 1,600 workers at its Maine facility, according to the Portland Press Herald.
Amicas Inc. (NSDQ:AMCS) jilted its erstwhile buyer, private equity firm Thoma Bravo LLC, in favor of a higher offer from Merge Healthcare Inc. (NSDQ:MRGE) that it initially met with disdain.
IDEXX Laboratories Inc. (NSDQ:IDXX) expanded its stock buyback plan by 4 million shares, taking the total number it could repurchase to nearly 6.3 million.
The Westbrook, Maine-based veterinary diagnostics maker said its board of directors upped the repurchasing plan, which had about 2.3 million shares remaining as of Dec. 31, 2009, and that it can make buybacks of its own stock in the open market or through negotiated private deals.
IDEXX Laboratories Inc. (NSDQ:IDXX) posted fourth-quarter sales of $270.3 million for the three months ended Dec. 31, 2009, up 11.1 percent compared with $243.3 million during the same period last year. Net income rose 31.4 percent to $31 million, compared with $23.6 million during Q4 2008:
Iridex Corp. (IRIX) posted third-quarter sales of $10.4 million for the three months ended Oct. 3, down 13.2 percent compared with $12 million during the same period last year. The Mountian View, Calif.-based laser medical device maker swung to profit for the quarter, with net income fell of $646,000 compared with a net loss of $249,000 during Q3 2008:
Third Consecutive Profitable Quarter