Medtronic's new Ev3 unit pays $1.3m in whistleblower suit
February 6, 2015 by Brad Perriello
The Ev3 subsidiary Medtronic acquired along with Covidien yesterday delivered good news and bad: FDA clearance for a new aneurysm treatment and a $1.25 million hit in a whistleblower lawsuit.
The U.S. Justice Dept. said Medtronic agreed to the settlement without admitting any wrongdoing. The qui tam lawsuit, filed by former sales rep Amanda Cashi, alleged that Ev3 acquisition FoxHollow Technologies urged hospitals to bill Medicare for inpatient procedures in atherectomies performed using its Silver Fox device. Read more
GPOs: Premier buys the rest of direct sourcer S2S Global
February 6, 2015 by Mark Hollmer
Premier Inc. said it paid $14.5 million for the remaining 40% of S2S Global it didn’t already own.
The North Carolina group purchasing organization snatched up 60% of S2S Global in December 2011, according to a press release. S2S runs Premier’s direct sourcing business – an alliance that has focused on reducing supply chain costs for Premier’s hospital members as well as improving product flow, pricing and quality, Premier said. Read more
CareFusion crushes it in final quarter
February 5, 2015 by Brad Perriello
CareFusion today crushed Wall Street’s expectations with what’s likely its final quarterly report before its merger with Becton Dickinson & Co.
The San Diego-based medical device company posted profit growth of 78.4% to $173 million, or 83¢ per share, on sales growth of 15.9% to $1.07 billion for the 3 months ended Dec. 31, 2014, compared with the same period in 2013. Read more
BD beats Q1 estimates, raises outlook, shares jump
February 5, 2015 by Brad Perriello
Shares of Becton Dickinson & Co. are up this morning after the medical products maker beat expectations for its fiscal 1st quarter and raised its outlook for the rest of fiscal 2015.
BD posted profits of $236 million, or $1.20 per share, on sales of $2.05 billion for the 3 months ended Dec. 31, 2014, for a bottom-line slide of 12.9% on sales growth of 1.8%. Read more
Zimmer revises Biomet bid for EU regulators
February 10, 2015 by Brad Perriello
Zimmer today said it further revised the terms of its $13.35 billion bid for Biomet in an effort to satisfy anti-trust regulators on the European Commission.
It’s the 2nd attempt by the Warsaw, Ind.-based rivals to mollify the EU about the deal, announced last April, a union that would bring together 2 of the biggest names in orthopedics. Read more
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