Top Device Companies

Covidien Of Ireland Completes Acquisition Of Somanetics Of U.S.

Covidien reports it has completed its acquisition of U.S.-based Somanetics, for an estimated $250 million. The Ireland-based company said it managed to buy, through its Covidien DE subsidiary, all outstanding shares of Somanetics. The deal gives Covidien devices used in cerebral and somatic oximetry, which produced $50 million in sales last year. The purchase is the latest for Covidien, which earlier bought ev3 for $2.6 billion. (Click here for more)

“Covidien Closes $250 Million Tender Offer For Somanetics” – Mass High Tech (7/27/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Cook Medical Recalls Tracheostomy Devices With Covidien Element

Cook Medical said it was recalling its Ciaglia Blue Rhino and Ciaglia Blue dolphin from the market because they rely on devices recalled earlier. At issue are 17 lots of Cook’s percutaneous tracheostomy devices that contain a device made by Covidien. The associated Covidien device is the Shiley tracheotomy tube, which the maker recalled in April because of problems with pilot balloons. Covidien said the devices were subject to malfunctioning. (Click here for more)

“Cook Recalls Tracheostomy Equipment” – Mass Device (7/21/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

J&J, Covidien May Set Trend With Buys Of Neurovascular Firms

Johnson & Johnson and Coviden may be setting a new trend by buying smaller firms specializing in neuroscience products. Covidien bought ev3 for $2.6 billion just a year after ev3 itself bought the smaller Chestnut Medical Technologies for $26 million. While Covidien completed its ev3 purchase, J&J said it would buy Micrus Endovascular for $480 million. An analyst guessed that Boston Scientific’s neurovascular unit might be the next acquisition target and suggested Abbott Laboratories and Medtronic might have to buy other neuro assets to stay competitive. (Click here for more)

“Covidien, J&J Getting Into People’s Heads” – Investors Business Daily (7/16/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

J&J To Buy Micrus For $480 Million In Race With Covidien, ev3

Johnson & Johnson plans to buy Micrus Endovascular and its devices for preventing stroke for $480 million. The purchase is seen as an effort by J&J to remain a strong competitor of Covidien in the neurovascular sector of the market. Covidien said the previous week it would buy ev3 for $2.6 billion to obtain the same type of products.Boston Scientific also is a significant player in the sector and could take advantage of the increased interest as it undergoes a restructuring effort. (Click here for more – a subscription may be required)

“J&J To Acquire Micrus To Bolster Stroke Lineup” – Wall Street Journal (7/13/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Of Ireland Seals $2.6 Billion Buyout of U.S.-based ev3

Covidien and ev3 have sealed their deal that calls for Covidien to pay $2.6 billion for the maker of endovascular-surgery devices. Ireland-based Covidien said it exercised its option to buy newly issued ev3 shares after it had finished buying about 87.7 percent of outstanding shares. Minnesota-based ev3 is to be merged with Covidien’s vascular-products business. (Click here for more)

“Covidien Completes $2.6 Billion Purchase Of ev3” – AP (7/12/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

ev3 Settles With Shareholders Opposed To Covidien Buyout

ev3 settled a class-action suit brought by stockholders opposed to the U.S. company’s sale to the Ireland-based Covidien. ev3 said the shareholders dropped their suit after reaching agreement with Covidien lawyers in a county court in Minnesota. The plaintiffs alleged Warburg Pincus, the controlling shareholder of ev3, had agreed to the $2.6 billion buyout offer as a way to get out of its investment in the firm. The settlement, subject to Delaware Court of Chancery approval, requires ev3 to agree to amendments to the merger arrangement. (Click here for more)

“ev3 Settles Covidien Sale Shareholder Lawsuits” -

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Launches First Of Surgical Staplers With New Technology

Covidien launched its latest version of a surgical stapler it says makes it easier for surgeons to close surgical tissue wounds. The launch of the Tri-Staple device is to be the first of several Covidien stapling devices the firm plans to develop based on the Tri-Staple state-of-the-art technology. The firm said the technology allows the stapler to close a broader range of thicknesses of tissue without requiring surgeons to change cartridges frequently. (Click here for more)

“Covidien Unveils New Surgical Stapler” – Hartford Business (6/24/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien $2.6 Billion Bid For ev3 Faces Shareholder Blocking Suit

Covidien’s bid to buy ev3 for $2.6 billion hit a snag when an ev3 shareholder filed a suit to block the sale. The suit claims the friendly takeover was arranged so the major investor and controlling shareholder of ev3 could get its investment back by taking advantage of its controls the nine-member board. The suit also seeks class-action status to include other shareholders who complain the sale was made for reasons other than for the financial merits of the offer, and would violate other laws. (Click here for more)

“Shareholder Sues To Block ev3 Sale To Covidien” – Reuters (6/22/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

ev3 Gets Expedited FDA Review Of Device For Brain Aneurysms

ev3 has won an expedited review by the FDA for its Pipeline device for treating cerebral aneurysms. The company, targeted for acquisition by Covidien, received the speeded-up review designation based on a promise the device would prove capable of improving brain aneurysms. The device consists of a wire coil delivered via catheter to the aneurysm to encourage blood to the surrounding clot. (Click here for more)

“FDA to Expedite ev3’s Pipeline” – Mass Device (6/21/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!

Covidien Negotiates $1.25 Billion Loan To Aid $2.6 Billion Buy Of ev3

Covidien is negotiating a $1.25 billion loan from Morgan Stanley to enable it to acquire ev3. The Irish buyer announced earlier it would pay $2.6 billion to buy the American device maker. Several other major U.S. and foreign lenders also are sharing in the unsecured loan to Covidien. (Click here for more)

“Covidien Taps Morgan Stanley For $1.25 Billion Loan To Buy ev3” – Finance & Commerce (Bloomberg) (6/11/10)

Medical device manufacturers facing many challenges: from the rising clout of group purchasing organizations (GPOs) to payment bundling and physicians' growing allegiance with hospitals in product price negotiations. Get all the answers now in new Medtech Insight's new 24-page Special Report: Medical Device Landscape: How regulatory changes and cost control measures are reshaping the industry. Available for purchase now!