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. More layoffs ahead for Teleflex
Teleflex said today that it plans to lay off workers and consolidate operations as it looks to save $12 million to $16 million a year, nearly 2 years after announcing a similar plan to cut costs.
Wayne, Pa.-based Teleflex said it hopes the plan, slated to begin during the 2nd quarter, will begin delivering savings in 2017 and be mostly complete by the end of the next year. The company said it plans to relocate some plants and relocate or outsource some distribution. Read more
2. HeartWare takes another hit despite Q4, 2015 beats
HeartWare International shares took another hit today despite 4th-quarter results that topped expectations on Wall Street, as investors reacted to lower-than-expected sales volume overseas.
Fourth-quarter losses grew 1.1% to $-926,000, or -5¢ per share, for Framingham, Mass.-based HeartWare, which makes implantable heart pumps. Sales were off -7.0% to $68.1 million, compared with Q4 2014. Adjusted to exclude 1-time items, earnings per share were -53¢, a full 21¢ ahead of The Street, where analysts were looking for sales of $67.9 million. Read more
1. Brazilian authorities raid Boston Scientific’s offices
Boston Scientific said yesterday that authorities in Brazil raided its subsidiary there as part of a probe into government contracts with the medical device maker.
Marlborough, Mass.-based Boston Scientific said Brazil’s Administrative Council of Economic Defense, known as CADE, served a search warrant Dec. 1, 2015, “in furtherance of an investigation into alleged anti-competitive activity with respect to certain tender offers for government contracts.” Read more
The post MassDevice.com +3 | The top 3 medtech stories for February 25, 2016 appeared first on MassDevice.
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