MassDevice Archives - Page 191 of 587 - Medical Design Sourcing

Thermo Fisher board authorizes $4B share repurchase

Thermo Fisher Scientific (NYSE: TMO) announced that its board of directors has authorized the repurchase of $4 billion of shares of its common stock.

The repurchases, announced Nov. 10, could take place in the open market or in negotiated transactions. The board’s authorization has no expiration date.

During its Q3 earnings call last month, Thermo Fisher officials announced they were increasing the company’s full-year revenue guidance by $650 million to $43.8 billion, which would represent 12% growth. In addition, they upped the life science research and diagnostic tech company’s adjusted EPS guidance by 8¢ to $23.01 per share.

For the first nine months of 2022, the company earned nearly $5.4 billion, or $13.62 per share, off $33.5 billion in revenue. The results represented a bottom-line decline of 11% on sales growth of 17%.

Still, the TMO shares are down from a peak over the summer — a performance that mirrors the overall mark…

Olympus applauds CMS move to expand access to colonoscopies

Olympus says CMS recently took a significant step forward to boost colorectal cancer care in the U.S.

CMS, on Nov. 1, announced that it will eliminate Medicare cost-sharing for a follow-up colonoscopy after an at-home stool test returns a positive result. Defining such colonoscopies as preventative services means that Medicare beneficiaries will no longer have out-of-pocket costs for both tests.

Medicare has also reduced the minimum age for colorectal cancer screening from 50 to 45 years.

“These rule changes represent a significant step toward improving colorectal cancer care and expanding access to preventive screenings,” said Paul Skodny, executive director of Global Health Economics & Market Access at Olympus Corp. of America.

“The American Society for Gastrointestinal Endoscopy (ASGE) considers colonoscopy the gold standard for screening, but the procedure may not be readily available to everyone. That’s why it̵…

Could breath power a brain stimulator?

[Image from UConn]Researchers at the University of Connecticut recently shared their development of a new method for charging brain stimulators.

A report in Cell Reports Physical Sciences last month highlighted a charging method using a person’s own breathing movements. This could alleviate the issues caused by the surgery required each time an implantable deep brain stimluator’s batteries need changing.

Most pacemaker batteries last for seven to 10 years, according to the UConn researchers. However, most DBS batteries typically require charging every two to three years. This happens because of their high energy consumption. But, the UConn DBS development never needs its batteries changed.

UConn chemists Esraa Elsanadidy, Islam Mosa, James Rusling and collaborators developed this platform.

Instead of using a battery, the device converts the motion of the user’s chest as they breathe into electricity. The chest wall, with every breat…

Dentsply Sirona stock dips on Q3 misses, lowered guidance

Dentsply Sirona (Nasdaq:XRAY) shares took a slight hit today on third-quarter results that came up shy of the consensus forecast.

The Charlotte, North Carolina-based dental equipment and supplies maker posted losses of $1.1 billion in the quarter. That amounts to $5.01 per share on sales of $947 million for the three months ended Sept. 30, 2022.

Dentsply Sirona reported a massive bottom-line slide into the red on a sales decline of 8.9%. In addition, it recorded a non-cash charge for “the impairment of goodwill and intangible assets” worth $1.1 billion. The company attributed this to macroeconomic factors resulting from weakened global demand and higher cost of capital.

Additionally, it felt the effects of unfavorable foreign currency impacts and increased raw material, supply chain and service costs. These contributed to reduced revenue expectations and lowered expectations for future cash flows.

Adjusted to exclude one-time items, ea…

Study supports Tandem t:slim X2 insulin pump for type 2 diabetes

Image from Tandem Diabetes

Tandem Diabetes Care (Nasdaq:TNDM) announced that a study of adults with type 2 diabetes supported its automated insulin delivery system.

The study evaluated adults with type 2 diabetes using the t:slim X2 insulin pump with Control-IQ technology. Patients achieved improvement in all clinical endpoints with the technology, which currently does not hold approval for type 2 diabetes.

Data demonstrated safety during six weeks of use. It also presented substantial improvements in time in range and mean glucose related to a reduction in hyperglycemia. Tandem reported no increase in continuous glucose monitor (CGM)-measured hypoglycemia.

Both users of multiple daily injections (MDI) and basal insulin-only showed similar levels of improvement. According to a news release, participants indicated a high level of satisfaction with the Tandem system.

Get the full story at our sister site, Drug Delivery Bu…

Stryker unveils new operating room model

The “OR of the Future.” [Image courtesy of Stryker]Stryker (NYSE:SYK) announced today that it unveiled its “OR of the Future” model operating room at its Flower Mound, Texas facility.

The Kalamazoo, Michigan-based company aims to provide a one-of-a-kind interactive OR experience. It allows customers to conceptualize new OR design and technology.

Stryker constructed the model with patient safety and OR uptime in mind, according to a news release. It enhances protection against infection and increases cleanability, the company said. Stryker also employed intelligent technology and time-efficiency components in its OR model.

“Some of the challenges hospitals face in maximizing safety and uptime of their ORs are very complex and require new thinking about design, workflow and future-proofing,” said Tommy Van Galder, VP and GM of Stryker’s communications business. “We’ve learned a lot from our 30 years of OR …

Titan Medical to seek share consolidation to keep Nasdaq listing

Titan Medical (Nasdaq: TMDI; TSX: TMD) said today that it will hold a virtual shareholders meeting on Jan. 12, 2023 to seek approval for a share consolidation plan.

The surgical robotics company described share consolidation as the last option to regain compliance with Nasdaq’s $1 a share minimum bid price requirement and retain its listing.

Titan Medical has until Dec. 26 to demonstrate that TMDI shares can trade over $1 apiece for at least 10 consecutive business days. After that, TMDI shares are subject to a delisting after Titan Medical exhausts its appeals process.

TMDI shares were down more than 2% to 44¢ apiece in morning trading today.

“We believe that a consolidation is in the best interests of shareholders, including for the purposes of regaining compliance with Nasdaq listing requirements,” CEO Cary G. Vance said in a news release.

“A continued Nasdaq listing provides numerous benefits to the company, incl…

Stereotaxis stock up on new orders, progress on next-gen robot

Stereotaxis’ headquarters in St. Louis include an operating room with a Genesis RMN system for demonstration and training purposes. [Image courtesy of Stereotaxis]Stereotaxis (NYSE:STXS) today reported third-quarter results that missed on revenue. However, investors reacted positively to a list of positive news from the surgical robotics company.

St. Louis–based Stereotaxis lost $5.3 million, or 7¢ per share, off $7.7 million in revenue for the quarter ended Sept. 30, 2022. It lost $5.0 million, or 7¢ per share, off $9.1 million in revenue in Q3 2021.

Wall Street analysts had expected $8.2 million in revenue.

However, much of the news was positive for Stereotaxis, which provides surgical robotics that incorporate magnets for minimally invasive endovascular intervention. (It’s included in MassDevice’s list of robotic surgery companies you need to know.)

“Stereotaxis continues to demonstrate robust commercial and technological progres…

GE offering $8.25 billion in notes to help finance GE HealthCare spinoff

GE (NYSE:GE) announced today that it is offering $8.25 billion in senior notes in connection with its planned spinoff of GE HealthCare.

The spinoff remains on track to take place during the first week of January 2023.

It’s common for companies spinning out of larger parents to start out with debt. For example, spine and dental tech company ZimVie (Nasdaq:ZIMV) started out with $500 million in debt when it spun out of Zimmer Biomet (NYSE:ZBH) early this year.

GE said the notes will be senior unsecured obligations of GE HealthCare and will enable GE to pay down existing debt. Just on Nov. 8, GE announced a tender offer to buy up to $7 billion in its debt securities. After that, it expected new GE HealthCare debt securities to pay down its outstanding debt over time.

The new stand-alone medtech giant intends to maintain a strong investment-grade credit rating.

In a Form 10 registration statement filed with the SEC last month, GE said that GE H…

Steris sticks by EPS guidance amid additional currency headwinds

Steris (NYSE: STE) reported mixed third-quarter results, but it held the line on EPS guidance amid additional foreign currency headwinds.

The provider of sterilization services and other infection prevention tech lost $315.2 million, or $3.15 per share, off $1.20 billion in revenue for the quarter ended Sept. 30, 2022. Steris swung to a loss versus Q3 2021, when it earned $69.8 million, or 69¢ per share. Revenue was up 0.3%.

Adjusted to exclude one-time items, Steris had earnings per share of $1.99. The result was a penny ahead of The Street, where analysts expected EPS of 98¢. However, revenue was slightly down from analysts’ $1.22 billion prediction.

Some supply chain relief for Steris

“We are pleased with our operational performance in the quarter, which reflected solid constant currency organic revenue growth in a challenging environment,” CEO Dan Carestio said in a news release out yesterday evening.

“As anticipated, we saw some relief …

NuVasive reports mixed Q3 results, reduces guidance

NuVasive (Nasdaq:NUVA) reported third-quarter results that beat on EPS but missed on revenue, reducing its guidance amid macroeconomic headwinds.

Investors reacted to yesterday evening’s news by sending NUVA shares down more than 1% to 36.84 apiece in morning trading today. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was up more than 3%.

The San Diego–based spine tech company lost $1.98 million, or 4¢ per share, off revenue of $295.3 million for the quarter ended Sept. 30, 2022. Its losses were much reduced from the $21.64 million, or 42¢ per share, it lost in Q3 2021. In addition, revenue was up 9%.

Adjusted to exclude one-time items, NuVasive had EPS of 54¢. The 54¢ was in-line with Wall Street expectations. However, analysts on average had expected $298.75 million in revenue.

“The strategic investments we’ve made in product and technology innovation are delivering con…

BD beats The Street in Q4 as Medical revenue grows nearly 6%

BD (NYSE: BDX) today reported fourth-quarter results that beat Wall Street expectations. However, its 2023 guidance is less than expected.

The Franklin Lakes, N.J.–based medtech giant earned $287 million, or 92¢ per share, off $4.76 billion in revenue during the quarter ended Sept. 30, 2022. The results represent a bottom-line gain of 8.6% on a top-line cut of 1.8%.

Adjusted to exclude one-time items, BD had an EPS of $2.75. That’s a penny ahead of The Street, where analysts expected EPS of $2.74 on revenue of $4.72 billion.

BD Life Sciences revenue was down 15.9% year-over-year to $1.29 billion in Q4 amid declines in COVID-19 testing revenue. BD Medical, however, was up 5.8% to $2.38 billion amid strong worldwide growth in catheters and vascular care sales.

BD Interventional was up 2.4% to $1.10 billion.

“Fiscal 2022 was another outstanding year with impactful results that confirm the effectiveness of our BD 2025 strategy,̶…