Cooking the books doesn't pay. That's the message the U.S. Department of Justice sent with the strict sentence it got for ArthroCare executives—albeit almost a decade after the problematic bookkeeping practices began.
Smith & Nephew is targeting a serious margin ramp-up and tax rate reductions within the next few years. Maintaining its aggressive acquisition strategy is an obvious means to work toward both those goals.
Orthopedic specialist Smith & Nephew will market Blue Belt's surgical knee system in a worldwide agreement that could help breathe fresh life into Smith & Nephew's flagging knee implant revenue growth. The partnership with Smith & Nephew is the startup's first major distribution deal.
Already a global giant in medical devices, Medtronic is considering growing even larger with a possible bid for Smith & Nephew, which has been the subject of M&A talk for the past few weeks following reports Stryker would seek to buy the U.K. maker of hip and knee replacements.
A federal jury convicted the former CEO and CFO of medical device company ArthroCare on Monday. The pair used fancy accounting that falsely recorded tens of millions in revenue, according to the U.S. Department of Justice.
After rumors circulated that Stryker would lay down a bid for orthopedics rival Smith & Nephew, Stryker CEO Kevin Lobo confirmed that his company is considering a deal--even if it doesn't plan to make an offer anytime soon.
Stryker denied a Wednesday story in the Financial Times saying that it was preparing to make a bid for orthopedics rival Smith & Nephew, but cited a section of the takeover code which would allow it to make an offer within 6 months.
Smith & Nephew, the U.K. orthopedic giant, has agreed to pay $12 million to settle a shareholder lawsuit blocking its $1.7 billion acquisition of ArthroCare, according to a SEC filing.
The day after Baxter announced it will split its biopharma and medical products, an analyst is calling for U.K. devicemaker Smith & Nephew to follow suit.
Smith & Nephew and ArthroCare moved one step ahead with M&A plans with a new regulatory blessing. Federal officials granted the companies early terminiation of a waiting period for their merger, clearing one hurdle for the deal's completion, the Austin Business Journal reported.