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Stock Market & Financial Investment News

News Breaks
January 7, 2013
07:43 EDTSPNCSpectranetics purchases Upstream Peripheral Technologies for $5.5M
Spectranetics announced an agreement to purchase the assets of Upstream Peripheral Technologies, an affiliate of ARAN Research Development & Prototypes, for up-front consideration of $5.5M with additional milestone payments tied to revenue, manufacturing transfer, and other milestones specified in the asset purchase agreement. Included in the acquisition are unique technologies that expand Spectranetics' Vascular Intervention portfolio.
News For SPNC From The Last 14 Days
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November 26, 2014
15:21 EDTSPNCMedtronic acquisition of Covidien receives U.S. FTC clearance
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14:28 EDTSPNCMedtronic agrees to divest Covidien drug-coated balloon catheter business
Medtronic (MDT) has agreed to divest the drug-coated balloon catheter business of Covidien (COV) in order to settle Federal Trade Commission charges that its $42.9B acquisition of Covidien would likely be anticompetitive. Under the FTC’s proposed settlement, Medtronic will sell the drug-coated balloon catheter business to medical device company Spectranetics (SPNC), the FTC announced. According to the FTC’s complaint both Medtronic and Covidien are developing drug-coated balloon catheters to compete with C.R. Bard (BCR), which currently is the only company that supplies these products, used to treat peripheral artery disease, in the U.S. market. Medtronic and Covidien are the only companies with products in clinical trials in the Food and Drug Administration’s approval process, which makes it unlikely that other competitors could enter the market in time to counteract the effects of the merger, the FTC alleges. The Commission vote to accept the proposed consent order for public comment was 5-0. The FTC will publish the consent agreement package in the Federal Register shortly. The agreement will be subject to public comment for 30 days, beginning today and continuing through December 29, after which the Commission will decide whether to make the proposed consent order final.

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