World Heart Corp.
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In the heat of the summer 2011, officials at World Heart Corp. were scrambling to keep a deal with HeartWare International alive.
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A skeleton crew of 6 employees at World Heart Corp. (NSDQ:WHRT) will push ahead with the development of its MiFlow heart pump despite layoffs for 77% of their colleagues, CFO Morgan Brown told MassDevice.com this morning.
World Heart Corp. (NSDQ:WHRT) said it laid off 77% of its workforce in an effort to hoard cash while it explores "various corporate strategic options."
The Salt Lake City-based heart pump maker said the layoffs of 19 full-time workers and 1 part-time employee include its chief technology officer, John Woodard, effective today, according to a regulatory filing. Employees were notified yesterday, according to the filing.
Standard & Poor’s Ratings Services downgraded Medtronic’s (NYSE:MDT) credit rating after the company reported declines for its bread-and-butter CRM and spine businesses – which together accounted for more than 50 percent of its total Q2 revenues.
CRDM revenues were up 1.6 percent to $1.27 billion for the quarter, but defibrillator sales slid 5.0 percent to $708 million.
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
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.