Category: Financial News
Financial related news
Minneapolis-based medical device monolith Medtronic registers for a $3 billion offering of its senior debt notes to drum up cash for working capital and perhaps to pay down debt.
Medtronic Inc. (NYSE:MDT) registered with the Securities & Exchange Commission for a $3 billion offering of senior debt notes in a bid to raise funds to cover its working capital needs and, perhaps, to pay down some of its debt.
The Fridley, Minn.-based medical device monolith announced the offering of $1.25 billion worth of its 3 percent senior notes, due in 2015; $1.25 billion of its 4.45 percent senior notes due in 2020; and $500 million of its 5.55 percent senior notes due in 2040.
Lawrence, Mass.-based portable dialysis maker NxStage Medical Inc. says the deal gives it some flexibility to "seize future opportunities when they arise" and amends some of the terms of a loan from Japanese distributor Asahi.
NxStage Medical Inc. (NSDQ:NXTM) took advantage of favorable interest rates to lock up some more working capital, possibly for future acquisitions.
The Lawrence, Mass.-based portable dialysis maker said it has secured a two-year revolving line of credit for $15 million with Silicon Valley Bank at an interest rate of about 6 percent annually.
NxStage said it would use the debt to "finance working capital needs as the business continues to grow and to seize future opportunities, when they arise," CFO Robert Brown, said in prepared remarks.
Portsmouth, N.H.-based IV infusion system developer Fluidnet Corp. drums up $9 million in an equity sale that CEO Jeff Carlisle says will go toward end-stage development and getting the product to market this year.
Fluidnet Corp. CEO Jeff Carlisle fairly bristles when he reads his company described as an IV infusion pump maker, as MassDevice did in the first version of this story published March 11.
His company's system is so advanced compared with current infusion systems, he says, calling it a pump is just not accurate.
"To characterize this as an infusion pump company would be so misleading. We're really taking a holistic look at the IV therapy process," Carlisle told MassDevice. "The information flow is an important as the fluid flow."
Peabody, Mass.-based imaging equipment maker Analogic Corp. sees sales of its MRI and CT equipment drop 9 percent during the second quarter and cuts 17 jobs, but doubles its bottom line.
Analogic Corp.'s (NSDQ:ALOG) largest business segment posted flat sales, with a 9 percent dip in its bread-and-butter MRI and CT equipment business offsetting stronger sales of specialized ultrasound equipment.
The Peabody, Mass.-based imaging equipment maker posted sales of $103.3 million for the three months ended Jan. 31, essentially flat compared with $102.7 million during the same period last year. Still, net income improved to $3.6 million, compared to $1.4 million for the same period last year, when the company took a $3.5 million hit to its bottom line when it laid off 145 employees, or about 9 percent of its total workforce.
Caliper Life Sciences Inc. posts fourth-quarter profits on a 3 percent uptick in revenues, beating its own guidance for the quarter.
Caliper Life Sciences Inc. (NSDQ:CALP) made progress on the path to profitability during the fourth quarter, posting net income for the first time during 2009 and beating its previous revenue guidance by $1 million.
The Hopkinton, Mass.-based lab equipment and services provider posted revenues of $37.7 million during the three months ended Dec. 31, 2009, up 2.6 percent compared with $36.7 million during the same period in 2008. That's about $1 million more than predicted; in January, the company said it expected to post $36.7 million in sale for the quarter.
The board of directors of Synovis Life Technologies authorizes a share repurchasing program for 1 million shares of the company's stock.
By Brandon Glenn
Device maker Synovis Life Technologies Inc. said its board of directors authorized the company to repurchase up to 1 million shares of its common stock.
Synovis’ board gave it plenty of leeway for the buyback. There’s no expiration date and no minimum purchase amount, according to a statement from the company.
The company seeks to buy back shares because it believes its stock is undervalued, according to CEO Richard Kramp.
Final enrollment in HeartWare International's "bridge-to-transplant" trial results in big restricted stock awards for CEO Douglas Godshall and other executives.
Another milestone, another payday for executives at HeartWare International Inc. (NSDQ:HTWR) — although the taxman needed to take his cut too.
When the 140th, and final, patient enrolled in HeartWare's "bridge-to-transplant" trial late last month, the event triggered financial windfalls for top management at the Framingham, Mass.-based firm. Under performance rights plans adopted by the HeartWare board in 2007 and 2008, executives received restricted stock awards worth between $100,000 and nearly $1.3 million, depending on their position on the corporate ladder. But the awards also created sizable tax liabilities for the seven individuals, prompting them in recent days to sell off a portion of their holdings to cover the cost of taxes on their newfound wealth.
