Boston Scientific announced that it has entered into a definitive agreement to acquire Vertiflex, a privately-held company which has developed and commercialized the Superion Indirect Decompression System, a minimally-invasive device used to improve physical function and reduce pain in patients with lumbar spinal stenosis, or LSS. The procedure is expected to reach $60M in sales in 2019. The transaction consists of $465M in upfront cash and additional payments contingent on commercial milestones for the next three years. The Superion System, pproved by the FDA in 2015 for patients with moderate degenerative LSS, creates space between the spinous processes of the vertebrae. The creation of this space reduces pressure on the nerves and can thereby improve patient mobility and relieve pain, numbness and cramping in the legs. This procedure is a treatment option for patients who have not responded positively to first-line therapies, such as oral pain medication and steroid injections, but do not have severe enough symptoms to require spinal fusion or laminectomy. The transaction is expected to be immaterial to adjusted earnings per share in 2019 and 2020, and accretive thereafter. On a GAAP basis, the transaction is expected to be less accretive, or more dilutive as the case may be, due to amortization expense and acquisition-related net charges. The acquisition is projected to close late in Q2, subject to customary closing conditions.
https://thefly.com/landingPageNews.php?id=2906555
Thursday, May 9, 2019
Varian Medical in cooperation agreement with Shandong Cancer Hospital
Varian announced it has signed a strategic cooperation framework agreement with Shandong Cancer Hospital in China, for proton therapy clinical application and research. In addition to the clinical application and research agreement, Varian has been selected via a public tender to equip the new multi-room Proton Clinical Research Center of Shandong Cancer Hospital in China with the ProBeam proton therapy system. Varian will also install its Aria oncology information management system and Eclipse treatment planning software. The company will book the order for the equipment and software in Q3.
https://thefly.com/landingPageNews.php?id=2906561
https://thefly.com/landingPageNews.php?id=2906561
Tivity Health price target raised to $33 from $29 at Piper Jaffray
Piper Jaffray analyst Sean Wieland raised his price target for Tivity Health to $33 from $29 saying the company reported upside to both revenue and profitability, “despite several headwinds.” This is an early indicator that its new consumer marketing strategies are working, Wieland tells investors in a post-earnings research note. The analyst reiterates an Overweight rating on Tivity Health.
Nektar update at ASCO likely to be positive, says Piper Jaffray
Piper Jaffray analyst Tyler Van Buren keeps an Overweight rating on Nektar Therapeutics with a $100 price target followign the company’s Q1 results. The analyst looks forward to the melanoma Pivot-02 cohort update at the American Society of Clinical Oncology meeting. He believes the update is likely to be positive.
Subscribe to:
Posts (Atom)