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. SynCardia sets terms for $28m IPO
SynCardia Systems set the terms for its pending initial public offering, saying it plans to float 2.5 million shares at $10 to $12 apiece.
That works out to a range of $25 million to $30 million, $27.5 million at the midpoint. Tucson-based SynCardia estimated that the IPO could raise as much as $40 million when it registered last month. Read more
2. Dentsply, Sirona ink $5.6B, all-stock merger-of-equals
Dentsply International and Sirona Dental Systems said they plan to merge in an all-stock union of equals worth about $5.56 billion, creating the world’s largest dental equipment maker.
The deal calls for Sirona shareholders to receive 1.8142 XRAY shares for each SIRO share they own. At roughly $98.06 apiece, that’s about a 0.7% discount on Sirona’s $99.31 closing price. The stock slid -4.3% to $95 even in pre-market activity today; XRAY shares were down -3.4% to $52.48 before the bell today. Read more
1. Ex-St. Jude Medical VP charged with stealing $117m, trade secrets
A former vice president at St. Jude Medical, who was reportedly asked to leave Boston Scientific for making “bad purchases,” was charged with stealing $117,000 from St. Jude and taking trade secrets with him after he was fired, the Minneapolis Star Tribune reported.
Authorities in Ramsey County, Minn., charged Bryan Szweda with 5 felony counts of theft by swindle and a single felony charge of theft of trade secrets, the newspaper reported. Szweda allegedly bilked St. Jude for tickets to basketball games, concerts and for jaunts to strip clubs, according to the Star Tribune. After St. Jude in September 2014 suspended him from his job as an operations VP in its structural heart division, Szweda is accused of taking an external hard drive with thousands of purloined files, including the company’s top-secret 4-year strategic plan, according to the report. Read more
The post MassDevice.com +3 | The top 3 medtech stories for September 16, 2015 appeared first on MassDevice.
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