A Medical Device Daily

Thermo Fisher Scientific (Waltham, Massachusetts) reported that its board of directors has authorized the repurchase of $500 million shares of its own common stock in the open market or in negotiated transactions through Sept. 10, 2009.

Thermo Fisher serves customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. The company serves customers through two premier brands, Thermo Scientific and Fisher Scientific.

In other financing activity, Angiotech Pharmaceuticals (Vancouver, British Columbia), a specialty pharmaceutical/medical device company, said it has extended the expiration date of its tender offer for its outstanding senior floating rate notes due 2013, and its outstanding 7.75% senior subordinated notes due 2014.

The tender offer was first disclosed in July (Medical Device Daily, July 8, 2008) and the company also extended the expiration date last month (MDD, Aug. 25, 2008).

Angiotech said the expiration date will depend on the date of its shareholders meeting, which will be called to approve an investment in its new subsidiary, Angiotech Pharmaceutical Interventions, by Ares Management and New Leaf Venture Partners, because the proceeds of the investment are needed to fund the offer. The date of the shareholders meeting has not yet been determined, the company said.

Angiotech has retained Goldman, Sachs & Co. as exclusive dealer manager for the tender offer.