St. Jude Medical Inc. (NYSE: STJ) filed a pair of lawsuits accusing two of its rivals of patent infringement and stealing trade secrets.
Volcano Corp.
Volcano swings to Q4 loss despite 45 percent increase in sales
Volcano Corp. (NSDQ:VOLC) posted $71 million in sales during the fourth quarter, a 45 percent increase from the $49 million it posted during the same period last year.
However, the San Diego-based maker of intravascular therapy devices slipped into the red during the three months ended Dec. 31, 2009, posting a net loss of $12 million, compared to a $1.3 million profit for the same period in 2008.
Officials blamed the quarterly loss on $14 million worth of “in-process” R&D charges it assumed when the company acquired CardioSpectra Inc. and Novelis Inc., according to its earnings release.
Lumen Biomedical sells catheter device to Volcano Corp.
By Thomas Lee
PLYMOUTH, Minnesota – Lumen Biomedical Inc. sold one of its two clot-removing devices to boost its balance sheet as it struggles to stay afloat in a tough economy.
Volcano Corp. (NSDQ:VOLC), a San Diego-based medical device manufacturer, purchased Lumen’s Xtract thrombus aspiration catheter for an undisclosed amount. Volcano had been Xtract’s exclusive global distributor since May 2009.