Endologix Inc. has resumed shipping of some of its AFX endovascular abdominal aortic aneurysm systems, after placing the devices on hold. This brought an end to a rather tumultuous week for the Irvine, Calif.-based company's stock (NASDAQ: ELGX), which plummeted as much as 27 percent upon news of the hold. However, shares of the stock slightly rebounded late last week. (See Medical Device Daily, Dec. 28, 2016.) In the second of two calls held over a four-day period, Endologix provided an update on developments in the AFX product line. Endologix noted the temporary hold stems...

HONG KONG – Chinese companies, many with improving technologies, continue to use acquisitions to expand their global market share. A case in point is Shanghai-based Microport Scientific Corp., which inked a $15 million investment in Lombard Medical Inc. (NSDQ: EVAR), of Irvine, Calif., a specialist in endovascular aneurysm repair. The investment sets the stage for a strategic partnership that gives Microport the exclusive marketing rights in China and Brazil for Lombard's Aorfix and Altura stent graft products as well as the right to manufacture the products for the China market. For Lombard, the deal has...

Allergan plc said it will buy Lifecell Corp., a company that makes regenerative medicine products for tissue reinforcement, from privately held Acelity LP for $2.9 billion in cash, a purchase partly driven by growing demand for reconstructive breast surgeries among women with breast cancer. About one in eight U.S. women will develop invasive breast cancer over the course of their lifetime, and, globally, breast cancer now represents one in four of all cancers in women, the company said, citing statistics from the nonprofit Breastcancer.org. The acquisition will add a portfolio of dermal matrix products used...

Svenska Cellulosa AB (SCA) has entered into an agreement to acquire Luxembourg, Germany-based BSN Medical Ltd. for about $2.9 billion. The Stockholm, Sweden-based company is acquiring BSN from private equity firm EQT, and the transaction is expected to close during 2Q17. The acquisition will give SCA access to the wound care market and will be fully debt funded. The BSN Medical buy comes on the heels of SCA revealing it would split into two distinct companies – a global hygiene firm and forest products company. SCA said that a distribution and listing of its hygiene...

Women's health care startup Femasys Inc. has raised $40 million in a series C round. The Suwanee, Ga.-based company will use the funding to support the further development of Fembloc, a non-surgical, permanent contraception solution. The transaction was arranged by Salem Partners, a Los Angeles-based investment bank, which also participated as a principal investor. The funding comes at the same time the private company revealed it received FDA approval to launch a prospective, multicenter, trial to evaluate the safety of the Fembloc while preventing pregnancy. Femasys said the study will enroll women who desire permanent...

Hologic Inc. is slated to sell its profitable blood screening business, which accounted for almost 20 percent of the Marlborough, Mass. company's diagnostic revenues in fiscal 2016. The price is $1.85 billion in cash, which is much richer comparatively than other recent diagnostic acquisition comps, at least one Wall Street analyst noted. The business will be going to Hologic's longstanding partner, Barcelona-based Grifols S.A., which is already responsible for marketing these blood screening products while Hologic is primarily responsible for manufacturing and R&D. Under a deal that originally dates to 1998 under predecessor companies, Grifols...

Novocure Ltd. is hoping to apply its Tumor Treating Fields (TTFields) therapy to both ovarian cancer and pancreatic cancer. During the St. Helier, Jersey Isle-based firm's research and development day, it revealed top line results from two studies that showed the effectiveness of TTFields to treat these cancer patient populations. TTFields are low-intensity alternating electric fields used to halt tumor growth. Novocure said the shape and special characteristics of rapidly dividing tumor cells make them susceptible to damage when exposed to TTFields. The company said the delivery of these fields is through a portable home...

Insulet Corp. said Horizon, its artificial pancreas, could be on the U.S. market in late 2019. Horizon is the Billerica, Mass.-based firm's first foray into continuous glucose monitoring-automated insulin delivery. If Insulet's Horizon gains FDA approval, it would go up against Dublin-based, Medtronic plc's Minimed 670G artificial pancreas, which received FDA approval in September and is set to launch in April of next year. (See Medical Device Daily, Sept. 29, 2016.) Even though Horizon will be two years behind the Minimed 670G's launch, analysts said this could be to the Insulet's benefit. "While Insulet is...

Edwards Lifesciences Corp. said its 4Q16 revenue will come in at the low end of its $750 million to $790 million guidance range, but strong developments in the company's product pipeline will give it a solid foundation long term. During its annual analyst day, the Irvine, Calif.-based company emphasized that the transcatheter aortic valve replacement (TAVR) market would be at the heart of its plans for the coming year. Analysts seemed to walk away from the event with a highly favorable perspective of the company's general direction. "While the initial reaction to the 4Q16 guidance...

After nearly 10 months of waffling on a $5.8 billion decision, Abbott Laboratories might have spotted an emergency exit from its contract to buy Alere Inc. "Alere is no longer the company Abbott agreed to buy 10 months ago," said Scott Stoffel, divisional vice president of external communications at Abbott. The company cited a series of what it called "damaging business developments" that Alere has suffered since the agreement was signed in late January. Alere lost its billing privileges for a substantial division, has suffered a permanent recall of an important product platform, has...