Say hello to MassDevice +3, a bite-sized view of the top three medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
3. Abbott has lots of dry powder for medtech M&A
Abbott CEO Miles White said the company has a few irons in the fire when it comes to bolstering its flagging medical device business, which was down -6.1% during the 2nd quarter.
Despite an attempt to be “studiously evasive” when asked about mergers & acquisitions in general, White spent a good portion of the 2nd-quarter earnings call discussing Abbott’s M&A rationale and prospects. Read more
2. Alphatec reveals FDA warning letter
Alphatec revealed that it received a warning letter from the FDA over problems at a plant in its home base of Carlsbad, Calif.
The July 16 warning letter cites 8 “deficiencies” in Alphatec’s response to the FDA’s initial observations after it inspected the plant in February and March, the company said. Read more
1. Stryker more than doubles Q2 profits, raises outlook
Stryker said it more than doubled its 2nd-quarter profits and raised its sales and earnings outlook for the rest of 2015.
Kalamazoo, Mich.-based Stryker posted profits of $392 million, or $1.03 per share, on sales of $2.43 billion for the 3 months ended June 30, for a 206.3% top-line gain on sales growth of 2.9%. Read more
The post MassDevice.com +3 | The top 3 medtech stories for July 24, 2015 appeared first on MassDevice.
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