Financial

Embattled spinal scaffold developer, InVivo Therapeutics looks like it’s got a hold of its finances as it proceeds down the rocky road through trials to ultimate approval.

Take out the $750 million settlement from Medtronic and Edwards would still be happy with a healthy sales increase over the equivalent quarter a year ago.

Sales ramped 4% compared with the equivalent period a year ago, but an increase in estimates of costs from pelvic mesh products liability cases saw S,G&A expenses ramp.

St. Jude Medical, Inc. has released sales and net earnings for the second quarter ended June 28, 2014, showing net sales up by 3% over the same period a year ago, at $1.448 billion.

Benvenue Medical, Inc. has closed out a $64 million funding round that it says will help it build its US commercial presence and generally support its growth objectives in the degenerative disc and vertebral compression fracture markets.

Medtronic and Edwards Lifesciences have buried the hatchet in their ongoing patent disputes with the former coughing up an immediate $750 million plus future amounts based on sales.

Thoratec Corporation has reported its financial results for the first quarter of 2014. International sales of the Heartmate device continue to dominate the revenue line, with 7% growth compared with the equivalent quarter a year ago.

Intuitive Surgical has posted its most recent quarterly figures and they don’t pain a very happy picture. Revenue’s 24 percent off the equivalent period a year ago at $465 million vs $611 million.

St. Jude is sounding punchy, expecting revenue gains based on a flurry of new product approvals.

Orthopaedic giant, Biomet, Inc has released its quarterly financial statements showing a consolidated net sales increase of 7.5% on a constant currency basis, compared with the equivalent period a year ago. The growth comes on the back of a similarly healthy picture a quarter ago.

It’s been stormy waters for Echo Therapeutics during 2013, a year that saw cash dwindling, shareholder angst and boardroom changes, before new money arrived and cost-cutting measures started to turn the ship around.

In what looks like a natural cleaving of its sizeable business, Baxter International says it plans to create two independent global healthcare companies, effectively separating its biopharmaceuticals and medical products.

Imaging device Specialist NinePoint Medical, Inc., has completed a $34 million Series B financing which it says will support the ongoing commercial launch of the NvisionVLE Imaging System in the U.S., as well as development of the company’s expanded product offering.

Spinal technologies company K2M, Inc., put the wheels in motion for an IPO back in January. Now the company has filed the papers which could see it raise $100 million in order to fund debt repayments and future investment to build on an already healthily growing revenue stream.

Invuity’s clever delivery of lighting to even the most awkward surgical site is clearly winning surgeon fans, the company’s sales having doubled last year. Now a new successful funding round will enable it to accelerate its activities.

Whatever PR fluff is attached to them, the numbers you see in financial press releases are mostly capable of withstanding forensic scrutiny. For that reason we’re falling back in love with them, despite their rather anodyne nature.