Say hello to MassDevice +5, a bite-sized view of the top five medtech stories of the day. This feature of MassDevice.com’s coverage highlights our 5 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.
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5. Chinese mobile Internet firm Liaison Interactive puts $20m into Dehaier Medical
Dehaier Medical Systems said today that a Chinese mobile Internet firm, Hangzhou Liaison Interactive Information Technology, took out a $20 million stake.
The $1.80-per-share deal is a 35% premium on Dehaier’s $1.33 closing price yesterday. It includes warrants for 1 million shares exercisable at $2.20 apiece and is expected to close by June 30, Dehaier said. The company said late last year that it was considering the Liaison Interactive deal. Read more
4. Teleflex’s Q1 profits surge, earnings outlook raised
Teleflex shares ticked down today despite a 17¢ earnings beat, as investors likely interpreted the Wayne, Pa.-based company’s raised earnings outlook as too tepid for the circumstances.
Teleflex posted profits of $50.7 million, or $1.04 per share, on sales of $424.9 million for the 3 months ended March 27, representing a 32.2% bottom-line gain on a -1.1% sales decline. Read more
3. Zimmer Biomet logs beat-n-raise Q1
Zimmer Biomet logged a beat-and-raise 1st quarter despite a -38.2% profit slide as sales surged 67.8% compared with Q1 2015.
The Warsaw, Ind.-based orthopedics giant posted profits of $105.9 million, or 52 per share, on sales of $1.90 billion for the 3 months ended March 31; adjusted to exclude 1-time items, earnings per share were $2 even, a full 7 ahead of the consensus expectation on Wall Street, where analysts were looking for revenues of $1.88 billion. Read more
2. Recent TAVR approvals prompt changes to Direct Flow’s Salus trial
Direct Flow Medical said today that recent FDA approvals for transcatheter aortic valve replacements prompted it to make changes to the Salus trial of its own TAVR entry.
Salus, originally aimed at enrolling 1,262 patients, is now expected to enroll a little more than half that number, 648 subjects, the company said. Santa Rosa, Calif.-based Direct Flow is also adding best practices and comparisons to TAVRs that are already on the U.S. market, which include the Sapien line from market leader Edwards Lifesciences and the Medtronic CoreValve device. Read more
1. Abbott to pay $25B for St. Jude Medical
Abbott said today that it offered to pay a 37% premium for St. Jude Medical in a $25 billion deal aimed at expanding its cardiac and neurological businesses.
Each unit in the $85-per-share deal consists of $46.75 in cash and 0.8708 ABT shares; at Abbott’s 5-day volume weighted average share price of $43.93 as of April 26, the buyout is worth about $25 billion. Read more
The post MassDevice.com +5 | The top 5 medtech stories for April 28, 2016 appeared first on MassDevice.
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