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. Hansen Medical slips on Morgan Stanley suspension
Shares of Hansen Medical slid after an analyst at Morgan Stanley said he would stop covering the robot-assisted surgery device maker, citing competitive issues and a capitalization problem.
“We expect Hansen to underperform our coverage and the broader market largely due to our view that Hansen’s penetration into endovascular procedures will have a much slower ramp than consensus appreciates,” Morgan Stanley analyst David Lewis wrote in a Jan. 8 note to investors. “We question the clinical utility of the technology in the endovascular space as the Magellan system does not drive a faster, better and less expensive procedure, in our view.” Read more
2. Teleflex picks up Nostix catheter placement
Teleflex said that it acquired Nostix, which makes catheter tip placement location systems, for an undisclosed amount.
Boulder, Colo.-based Nostix’s ECG-only device is designed to be an alternative to X-ray confirmation of peripherally inserted central catheters, Wayne, Pa.-based Teleflex said. Read more
1. Medtronic reveals $9B capital plan
Trading in shares of Medtronic was suspended as the medical device titan revealed its plan for spending a $9.3 billion windfall from its $50 billion acquisition of Covidien, including a $5 billion share buyback by the end of April 2018.
Fridley, Minn.-based Medtronic said it has $9.3 billion to spend as a result of the Covidien integration, and plans to use most of the rest to pay down debt as it looks to regain its A credit rating. The company committed to returning at least 50% of the $9.3 billion to shareholders, either through dividends or buybacks. Read more
The post MassDevice.com +3 | The top 3 medtech stories for January 11, 2016 appeared first on MassDevice.
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