Category: Business News
Business related news; partners, mergers, deals and other business related news
Robert Fields, partner and managing director at Breeden Capital Management and Breeden Partners, quietly resigned from Steris Corp.'s board for personal reasons March 5.
By Mary Vanac
Robert Fields, a partner and managing director at Breeden Capital Management and Breeden Partners, quietly resigned from the Steris Corp. (NYSE:STE) board for personal reasons March 5.
Normally, the resignation of a director causes few questions. However, Fields and Richard Breeden, the former Securities and Exchange Commission chief who has since become an investment manager and shareholder activist, are a special case.
Boston, Mass.-based NMT Medical beefs up its science chops as it prepares for Closure 1 trial data analysis.
NMT Medical Inc. (NSDQ:NMTI) named a group of physicians and scientists from leading hospitals and research institutions to shore up its scientific advisory board in anticipation of the data analysis portion of a clinical trial of the company's StarFlex implant.
The Boston, Mass.-based device company, which is developing implants to treat structural heart disease through catheter-based procedures, named eight to the board, which it says will advise executives on issues related to its ongoing Closure 1 clinical trial.
The U.S. Attorney for Massachusetts issues a "civil investigative demand" for documents on Medtronics' CoreValve subsidiary and its relationship to the Lahey Clinic in a false claims investigation.
It's shaping up to be a tough day for Medtronic Inc. (NYSE:MDT), as news of a federal false claims investigation follows questions from the Food & Drug Administration about a study of one of its deep-brain stimulation devices.
The Fridley, Minn.-based medical devices monolith revealed in a March 10 securities filing that the U.S. Attorney for Massachusetts issued a "civil investigative demand" Feb. 22 for documents in a false claims probe into the relationship of its CoreValve subsidiary with the Burlington, Mass.-based Lahey Clinic, "specifically relating to cardiologists at the clinic, CoreValve Inc. ... and the Lahey Clinic, and certain employees of both [Medtronic] and the clinic, among other topics."
Salem, N.H.-based Guidewire Technologies earns a warning letter from the Food & Drug Administration for quality system violations at a manufacturing plant.
The Food & Drug Administration warned a Salem, N.H.-based maker of guidewires used in catheters that its quality systems aren't up to snuff.
Regulators made public March 10 a warning letter sent to Guidewire Technologies Inc., advising the company that they are in violation of three quality systems regulations that must be remedied.
The agency said in a Feb. 26 letter that the company is failing to test each production run to ensure the products have been sterilized and that the company's Teflon guidewire coating process has not been validated. In addition, the agency said internal quality systems haven't been audited since 2006.
Pittsburgh-based sponge safety company ClearCount Medical Solutions hired David Haffner to be its new CFO.
By Brandon Glenn
Sponge safety company ClearCount Medical Solutions hired David Haffner to be its new CFO.
Haffner, who was CFO for medical technology companies including RedPath Integrated Pathology and Renal Solutions, will oversee the day-to-day financial operations of Pittsburgh-based ClearCount and will be responsible for its financial strategy, according to a press release.
Billerica, Mass.-based scientific instrument maker Bruker Corp. snags three divisions of the Palo Alto, Calif.-based instruments company after Agilent is forced to divest the businesses to comply with European anti-trust laws.
Agilent Technologies Inc.'s (NYSE:A) embarrassment of riches turned out to be a boon for Bruker Corp. (NSDQ:BRKR) too.
The companies announced the completion of a deal to sell Billerica, Mass.-based Bruker three business units of Varian Inc. so Agilent can comply with European anti-trust laws. Agilent
acquired its Palo, Alto, Calif.-based instrument-making subsidiary in July 2009 for a reported $1.5 billion.
Taunton, Mass.-based Orthopaedic Synergy Inc. plans to acquire French robotic and computer-assisted surgery company Praxim SA for an undisclosed amount.
Orthopaedic Synergy Inc. signed a letter of intent to acquire Praxim SA of France, which makes robotic and computer-assisted surgery devices.
The Taunton, Mass.-based firm, which is the holding company for OMNIlife Science Inc. and Enztec Ltd. of New Zealand, said the deal is aimed at generating shorter product development cycles, according to a press release.
Praxim makes automated systems, software and instruments for total joint arthroplasty procedures. Based in Grenoble, France, the comany also has operations in Santa Clara, Calif., Bethlehem, Pa., Solihull, England, and in the Benelux region, according to its website.
