BioTelemetry (NSDQ:BEAT) said yesterday that it closed its $15.5 million acquisition of clinical trial imaging provider VirtualScopics (NSDQ:VSCP), approximately 6 weeks after the deal was 1st announced. The all-cash buyout of Rochester, N.Y.-based VirtualScopics included a $4.05-per-share tender for roughly 3 million VirtualScopics shares. BioTelemetry also offered $336.50 per share for the company’s Series A and […]
BioTelemetry ponies up $16m for VirtualScopics
BioTelemetry (NSDQ:BEAT) said last week that it agreed to pay about $15.5 million to acquire clinical trial imaging provider VirtualScopics (NSDQ:VSCP) with an all-cash tender offer. Terms of the deal for Rochester, N.Y.-based VirtualScopics include a $4.05-per-share tender for roughly 3 million VSCP shares. BioTelemetry, which is based in Malvern, Pa., is also due to offer $336.30 per share for VirtualScopics’ […]
Avedro CEO Muller is out | Personnel Moves
Avedro said CEO David Muller stepped down shortly after it closed a $32 million equity round last month, replaced on an interim basis by COO Brian Roberts, the former CFO at Insulet (NSDQ:PODD). Waltham-based Avedro said Muller left to “pursue other opportunities.” “On behalf of the board and all the Avedro employees, I want to thank […]
GI Dynamics swaps CEOs | Personnel Moves
Haemonetics taps outgoing Covidien CFO Dockendorff for board | Personnel Moves
Elekta’s new CEO is Nokia vet | Personnel Moves
Elekta (STO:EKTA B) said it named Niklas Savander, a former Nokia executive, as its new president & CEO. Savander is succeeding Tomas Puusepp, who will keep his seat on Stockholm-based company’s board.
IT’s Savander’s 1st venture into the medical device industry. His resume includes stints at Hewlett-Packard as well as Nokia, according to a press release.
Mela Sciences CEO resigns | Personnel Moves
Long-time Mela Sciences (NSDQ:MELA) CEO Joseph Gulfo resigned last week from his position as chief executive, president, chairman and member of the board. Gulfo had been Mela’s CEO since 2004, and company documents did not cite a reason for his resignation.
Tactile Systems touches $10M | Wall Street Beat
Tactile Systems Technology said it reeled in a $10.4 million Series B round led by Radius Ventures, with the proceeds to go toward acquiring "a leading new product" and patents for treating lymphedema, or fluid retention.
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.
Gingrich’s health consulting group goes under | Wall Street Beat
The Center for Health Transformation, a health care think tank launched by GOP presidential hopeful Newt Gingrich, filed for Chapter 7 bankruptcy this week, listing liabilities of between $1 million and $10 million that it says it can’t repay.
The organization’s assets, which it listed in court filings at between $50,000 and $100,000, will be liquidated and the business may subsequently close.
NuVasive swings to Q4, 2011 red | Earnings Roundup
NuVasive (NSDQ:NUVA) swung to red for the 4th quarter and full-year 2011, largely on the back of an $18.2 million writedown of intangible assets.
The San Diego-based spinal implant maker posted a loss of $10.0 million, or 24 cents per share, on sales of $150.2 million for the 3 months ended Dec. 31, 2012. That’s a top-line gain of 16.2% compared with Q4 2010, when NuVasive posted profits of $61.9 million, or $1.39 EPS.
