John Dineen has already found a posh new gig only a few weeks after his departure from GE Healthcare as its newpresident and CEO was announced. He will join private equity firm Clayton, Dubilier & Rice (CD&R) early next year as an operating adviser to its funds.
Stryker took an earnings hit during the third quarter, in part to repatriate $2 billion in cash for acquisitions and to establish an EU regional headquarters in Amsterdam, where it has moved some intellectual property. The IP transfer is expected to reduce its effective tax rate from an expected 22% in 2014 to 20% next year.
Boston Scientific won CE-mark approval for a new suite of MRI-friendly pacemaker products, boosting its product offerings and furthering its plan of revitalizing sales for its sluggish cardiac unit.
The number of medical device venture financings is about on pace with where it was last year, but startups are managing to pull in a bit more for each round.
The 33-year-old private vitreoretinal surgical tools company MID Labs received a $51 million cash infusion to broaden its product lines and increase its global commercialization capabilities.
Stanford seems to have found a niche in tiny wireless implants. In the latest development, the university announced that it is developing methods of beaming ultrasound to power implanted "smart chips" for the treatment of conditions like Parkinson's disease.
The acquisition of dialysis company Gambro last September continues to fuel Baxter International's sales growth as it preps to spin off its biopharma division in 2015. But despite some stop-gap measures, it's not likely that Baxter will actually be able to meet the demand for its dialysis products until additional manufacturing capacity opens up in 2016.
Agilent Technologies is closing its nuclear magnetic resonance business, as the downsizing of its research products division continues. The move is expected to cost 300 jobs over the next 12 months in Santa Clara, CA, and Yarnton, England.
A new wireless, disposable sensor can help long-term care and hospital administrators prevent bedsores. Also known as pressure ulcers, these are a pernicious problem for the U.S. healthcare system--an estimated 2.5 million patients in the U.S. get the painful sores that can result in further complications but are preventable with proper care.
Medtronic scored a victory in its ongoing patent war with Mirowski Family Ventures, as the U.S. Supreme Court passed on hearing an appeal from Mirowski over patents for implantable defibrillator devices.
ConvaTec, maker of wound, ostomy and skin care products is exploring a sale of itself for as much as $10 billion with investment banks Morgan Stanley and Goldman Sachs.
Medtronic announced that the first patients have enrolled in the pivotal trial of its its next-generation integrated insulin pump and continuous glucose monitoring system and the Predictive Low Glucose Management algorithm. Up to 84 patients will enroll in the trial at 8 centers across the U.S.
Quest Diagnostics, a medical testing services company that serves about half of all physicians and hospitals in the U.S., is investing $9.3 million into its new Tampa, FL national logistics hub.
In a regulatory win, Washington's Vesiflo got an FDA green light to market its replaceable urinary prosthesis for female adults with bladder drainage problems.
St. Jude Medical reported modest gains in third-quarter sales, supported by new products that include its CardioMEMS heart failure monitoring system.
Researchers have identified a hormone that is associated with fructose, fibroblast growth factor 21 (FGF21), which increases rapidly in the blood after fructose ingestion. High FGF21 levels in the blood are associated with obesity, insulin resistance and nonalcoholic fatty liver disease in both humans and animals.
Johnson & Johnson provided a first glimpse of what its devices and diagnostics business will look like after the divestiture of the Ortho Clinical Diagnostics business. The conglomerate gained about $1.1 billion from its sale, which closed on June 30. Excluding the operational impact, the Ortho-Clinical deal boosted sales growth figures for the device and diagnostics unit, as well as the company overall.
Amid recent efforts to rejuvenate its healthcare business, Philips is developing a diagnostic system with a Netherlands-based university medical center to improve outcomes for patients with chronic obstructive pulmonary disease.
The NIH is providing $10.8 million in grants over four years to 12 institutions toward developing computational tools to collect and analyze large-scale health data generated by mobile and wearable sensors.