Apr. 15, 2014, 6:25 PM
- Surgical device maker ConMed (CNMD) is exploring a sale of the company, Reuters reported earlier today, after activist investors late last year took issue with its performance and corporate governance.
- The company's advisers, BoA Merrill Lynch and Greenhill, reportedly have contacted orthopedic device makers in recent weeks to gauge interest.
- CNMD has an attractive orthopedics and sports medicine business that could appeal to companies such as Zimmer Holdings (ZMH), Johnson & Johnson (JNJ), Stryker (SYK), Covidien (COV) and Medtronic (MDT).
- CNMD shares gained 7.2%, rallying from a loss before the report late in the session.
Mar. 21, 2014, 4:26 PM| Comment!
Feb. 18, 2014, 10:14 AM
- Stryker (SYK -0.1%) agrees to acquire privately-held surgical equipment company Berchtold for an enterprise value of $172M.
- Berchtold, which has operations in Germany and the U.S., generated sales of ~$125M last year; the company’s products include surgical tables, equipment booms and surgical lighting systems.
- SYK expects the transaction to be neutral to its 2014 earnings excluding acquisition, integration-related and intangible amortization charges.
Jan. 22, 2014, 4:12 PM| 1 Comment
Jan. 22, 2014, 12:10 AM
Jan. 21, 2014, 5:35 PM
Jan. 13, 2014, 5:40 PM
Dec. 31, 2013, 9:11 AM
Dec. 30, 2013, 5:11 PM
- Stryker (SYK) says it received FDA clearance for the Neptune 2 Waste Management System, which the company says minimizes risk to healthcare workers by eliminating harmful exposure to fluids and smoke in the operating room.
- Wells Fargo estimates Neptune could increase SYK's revenue growth by ~70 basis points in 2014; the firm keeps an Outperform rating on the stock.
Dec. 17, 2013, 8:12 AM
- Leerink is out with some commentary on the MedTech space.
- Investors should "focus on companies with growth acceleration and/or upside surprise potential independent of (or at least less dependent on) a macroeconomic recovery [or, alternatively,] a higher and increasing percentage of sales derived from end-markets exhibiting above-average growth," Leerink says.
- Not surprisingly, the LVAD device market gets a mention, with Heartware (HTWR) recommended by name (remember, they just snapped up CircuLite which some think can compete with SSH's C-Pulse).
- Other names mentioned by Leerink: Covidien (COV) for neurovascular and energy devices; Stryker (SYK) for neurovascular and robotics; St. Jude's Medical (STJ) and JNJ for atrial fibrillation; Intuitive Surgical (ISRG).
- Thoratec (THOR) gets an LVAD mention as well, which is interesting considering Leerink's recent commentary on the NEJM manuscript which discussed possible thrombus formation with the HeartMate II.
Nov. 25, 2013, 9:24 AM
Oct. 23, 2013, 6:39 PM
- Stryker Corp. (SYK) expects to spend between $700M and $1.13B to resolve litigation and other costs related to last year's recall of its its Rejuvenate and ABG II hip implants, nearly double its previous estimate.
- In its 10-Q filing, SYK says the ultimate total cost is still uncertain and will depend "on the number of and actual costs of patients seeking testing and treatment services, the number of and actual costs of patients requiring revision surgeries, the number of and actual costs to settle lawsuits filed against us, and the amount of third-party insurance recoveries."
Oct. 17, 2013, 4:54 PM
- Stryker's (SYK) Q3 sales rise 6.8% on a constant currency basis.
- Sales breakdown (constant currency): Reconstructive +9.2%; MedSurg +2.6%; Neurotechnology and Spine +10%.
- FY13 outlook: EPS of $4.20-4.26 on organic sales growth of 4.5-5.5%. Consensus is $4.23/share on sales of $8.99B. (PR)
- More: SYK revenue in line, profit falls short
- SYK -1.8% AH.
Oct. 17, 2013, 4:09 PM
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Oct. 16, 2013, 5:35 PM
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