Wright Medical (NSDQ:WMGI) said yesterday that it closed a contingent value rights agreement connected to its acquisition of BioMimetic Therapeutics. Wright agreed to pay $380 million in cash, stock and milestone payments to pick up BioMimetic and its Augment bone graft back in 2013. The FDA cleared the bone graft with indications as an alternative autograft […]
Wright Medical posts street-beating Q4, 2018 earnings
Wright Medical (NSDQ:WMGI) today posted fourth quarter and full year 2018 earnings that beat expectations on Wall Street. The Amsterdam-based company posted losses of approximately $33.8 million, or 27¢ per share, on sales of $238.1 million for the three months ended December 31, seeing a swing into red ink while sales grew 9.4% compared with the same […]
Wright Medical inks $112m refinancing deal
Wright Medical (NSDQ:WMGI) said yesterday that it inked a refinancing deal looking to exchange $112.1 million in existing 2% convertible senior notes due 2020 for $120.2 million in newly issued 1.625% senior notes due 2023. The Amsterdam-based company said that for each $1,000 principal amount of notes submitted for exchange, it will deliver $1,072.40 principal amount […]
Insulet taps former Medtronic finance exec McMillan as CFO | Personnel Moves – January 8, 2019
Insulet (NSDQ:PODD) said yesterday that it tapped former Medtronic minimally invasive therapies CFO and finance VP Wayde McMillan as its new chief financial officer, replacing Michael Levitz. The Acton, Mass.-based diabetes-focused medtech company said that McMillan will join the company in February and that Levitz will continue as an advisor for a period following the […]
Abiomed jumps on fiscal Q3 prelims, raised outlook | Wall Street Beat
Abiomed (NSDQ:ABMD) shares got a jump today from its preliminary fiscal third-quarter numbers and an improved outlook for the rest of its fiscal year. The Danvers, Mass.-based heart pump maker said it expects to post fiscal Q3 sales of roughly $200.6 million, representing a 30.3% increase over its fiscal Q3 top line. Abiomed also raised […]
Wright Medical loses bid for legal fees in Spineology patent spat
The U.S. Court of Appeals for the Federal Circuit this week shot down an appeal by Wright Medical(NSDQ:WMGI) seeking to obtain legal fees related to a patent infringement case against Spineology which was decided in Wright’s favor this summer. Wright appealed after the U.S. District Court for the District of Minnesota ruled that Wright could […]
Wright Medical’s Q3 results top forecasts
Wright Medical (NSDQ:WMGI) yesterday beat the consensus for both sales and earnings with its third-quarter results and raised its outlook for the rest of 2018. The Memphis-based orthopedics firm slashed its losses by -67.8% to -$42.5 million, or -38¢ per share, on sales growth of 13.8% to $194.1 million for the three months ended Sept. […]
Wright Medical closes $435m Cartiva buy
Wright Medical (NSDQ:WMGI) said today that it closed its $435 million buyout of Cartiva and its synthetic cartilage implant for treating arthritis in the big toe. Alpharetta, Ga.-based Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won CE Mark approval in the European Union back in 2002 and is also on the market in […]
Medtech M&A remains hot: Here’s how
M&A in medtech show no signs of slowing in the fourth quarter of 2018, and companies looking to buy or sell have much to consider, according to patent attorney David Dykeman, a shareholder in the Boston office of the global law firm Greenberg Traurig. The number of medtech M&A deals soared by 50% in 2017 and […]
What you should know about today’s top trends in medtech
Medtech’s hottest topics in M&A, intellectual property, finance and regulation will be on the agenda at DeviceTalks Boston Oct. 8-11. Patent attorney David Dykeman from the Boston office of the global law firm Greenberg Traurig will moderate the Oct. 9 hot topics panel in which the discussion will center around: · M&A trends from the perspective of […]
Wright Medical slides after pricing offering to back Cartiva buyout
Wright Medical (NSDQ:WMGI) shares traded down this morning after it priced an offering it plans to use to fund the $435 million buyout of Cartiva. Wright said it plans to finance the Cartiva purchase, announced yesterday morning, with an equity offering. Alpharetta, Ga.-based Cartiva makes a synthetic cartilage implant for treating arthritis in the big toe. Yesterday […]
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