CRM: Boston Scientific's gain is St. Jude Medical's loss
March 20, 2015 by Brad Perriello
FDA approval this week of the Emblem S-ICD made by Boston Scientific puts the company in place to take market share in the cardiac rhythm management space from rivals St. Jude Medical and Medtronic, Wells Fargo analysts said.
Revenues from St. Jude’s CardioMEMS device, which that company is counting on, won’t be enough to offset the share losses from Boston’s Emblem device, the analysts wrote in a note to investors. Read more
Abiomed soars to new all-time high on FDA nod
March 24, 2015 by Brad Perriello
News that Abiomed yesterday won pre-market approval from the FDA for its flagship Impella 2.5 heart pump sent the company’s stock soaring to an all-time high of $74.70 per share today.
ABMD shares closed up 18.0% at $72.48 on the news. The stock is up some 94% this year. Read more
Philips mulls 2016 IPO for lighting biz as bidding war heats up
March 20, 2015 by Brad Perriello
Royal Philips yesterday said it’s considering an initial public offering next year for its legacy lighting business, even as it reviews bids from private equity shops and a new suitor from Asia.
“The separation is currently intended to be effectuated through an initial public offering, but other options will continue to be reviewed,” the Dutch conglomerate said. A shareholders meeting is scheduled for May 7. Read more
SteadyMed prices $40m IPO well under range
March 20, 2015 by Mark Hollmer
SteadyMed Therapeutics pulled the trigger on its IPO today, pricing the $40 million offering well under range and seeing its share price drop nearly 3% in mid-day trading.
The developer of hypertension and pain treatments given with a discrete, patented drug-delivery device offered 4.7 million shares at $8.50 each. Last week Israel- and California-based SteadyMed said it planned to float the stock at $12 to $14 apiece, which at the midpoint would have fetched $55 million. Read more
Report: Becton Dickinson to shed assets after CareFusion buy
March 25, 2015 by Brad Perriello
Becton Dickinson & Co. is reportedly preparing to shed its respiratory devices business now that has the $12.4 billion acquisition of CareFusion under its belt.
Franklin Lakes, N.J.-based BD is working with advisors to plan the divestiture, having deferred the sale until the CareFusion buyout closed last week, according to Bloomberg. Read more
The post CRM: BSX’s gain is STJ’s loss | Medtech Wall Street news for the week of March 23, 2015 appeared first on MassDevice.