Neoforma.com, Inc.
Business-to-business e-commerce medical device marketer goes public via $91 mil. initial public offering of 7 mil. shares at $13 each. Completed on Jan. 24, the IPO was priced higher than the $8-10 per share originally anticipated (1"The Gray Sheet" Nov. 1, p. 10). Enabling users to "efficiently" and "cost-effectively" buy and sell new and used medical products online, the Santa Clara-based Internet firm's stock trades on the Nasdaq exchange under the symbol "NEOF." Proceeds from the IPO will be used "primarily for general corporate purposes, including sales and marketing, product development and working capital," the firm says. Underwriters Merrill Lynch, Bear Stearns, Robertson Stephens and William Blair have an overallotment option for approximately 1.1 mil. additional shares
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St Jude Medical and Spire are to develop anti-bacterial heart valve sewing cuffs using Spire's Spi-Argent silver coating process. The agreement covers a variety of valve designs as well as ancillary components. The treatment is aimed at reducing the incidence of endocarditis, a rare but dangerous complication of valve transplant which has a mortality rate as high as 60%.
Nissho saw sales rise only 1% to ¥17 billion ($930 million) in the year to March 1997. The Japanese company's net income was Yen3 billion, compared with Yen1.7 billion for the previous year, reports Reuters. Nissho produces disposable medical equipment.
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Class III devices and panel-track supplements approved by US FDA’s Center for Devices and Radiological Health. Data derived from FDA.gov. Updated weekly.
AdvaMed president Scott Whitaker said the group is focused on the need for tariff stability in conversations with the Trump administration. The organization remains optimistic about other policy areas. New chairman and ResMed CEO Mick Farrell laid out his five priorities.