Financial

Shareholder are not always happy campers, but a new press release issued by one of ConMed’s institutional investors has been written in such a coruscatingly damning tone that we thought it worthy of presentation to our audience of cultured types who appreciate a bit of literary creativity. Not sure ConMed will be quite so appreciative.

A changing sales mix, the impact of the US sales tax and ongoing increased provision for potential settlement of outstanding alleged stock fraud all contributed to ArthroCare’s lower than predicted earnings. This, despite healthy top line sales growth in Q3.

Q3 revenues for Sorin are somewhat clouded by last year’s earthquake which saw supply of some of its core lines temporarily suspended. A year later and the Italian cardiac device maker is recovering nicely as revenues return to pre-disaster levels and above.

Surgical implant company RTI Surgical Inc. has announced preliminary revenue results for the third quarter that are way off prior guidance. In the same release it confirms a new agreement with Medtronic Sofamor Danek USA, Inc. to process allograft implants for use in spinal surgeries.

This time last year the news was filled with externalising ICD lead discussions, focusing to a large degree on St.Jude Medical. It seems a raft of clinical data has helped minimise the negative impact, while a healthy sales line and two exciting new acquisitions mean the company’s financial report is a positive sounding affair.

Device sales, especially in the US, were pretty weak in Q3. And when you’re J&J you’ll always have some special items on your expenses line. The net result looks a bit like a battening down of the hatches, although the business overall is showing healthy growth, fuelled by pharma.

When a company’s major shareholder goes public it has no option but to respond. Echo Therapeutics has one, big, unhappy investor so has followed replacement of its CEO with a raft of measures to prove it’s on top of its game, including sacking 33% of its workforce.

Device company Alphatec Holdings, Inc has announced that its French affiliate, Scient’x S.A.S. and its subsidiary Surgiview S.A.S. (collectively, “Scient’x”) has begun a process aimed at significantly restructuring its business operations with a view to reducing annual operating expenditures by between $2 and $6 million on an annualized basis.

InspireMD’s embolic protection stent has featured on several occasions on our pages. Newly released quarterly and year-end financials suggest it’s doing the job at sales level and anticipated clinical results should bolster future revenues.

A couple of weeks ago we were reporting that InVivo Therapeutics was having to come to terms with the FDA’s … continue reading “InVivo’s Woes Increase as Interim CFO Walks After Two Weeks”

Medtronic has posted financial results for its first quarter of fiscal year 2014, ended July 26, 2013. It’s forecasts for revenue and EPS for FY 2014 remain as stated in last year-end financials, although sales estimates were a smidge lower than anticipated by analysts.

Things are undeniably tough, in stateside medtech land. But when the environment changes those that adapt to the brave new world quickly will do best.

Biomedical technology company SetPoint Medical,developing neuromodulation therapies for inflammatory diseases, has secured $27 million in financing from its current investors along with new investors who’s names you might recognise.

Less than two years ago we were reporting the news that Apnex Medical Inc had gained CE mark approval for … continue reading “Apnex Breathes its Last”

Smith & Nephew plc has announced its results for the second quarter ended 29 June 2013 and the revenue growth … continue reading “Smith & Nephew Results Hold Up Despite Joint Pain”

Forbes has produced a compellingly straightforward editorial, aimed in part at debunking the myth that the pain of the device … continue reading “Device Tax Gets More Public Airtime”