People In Brief
This article was originally published in The Gray Sheet
Executive Summary
NMT Medical: The CEO and board chairman of the struggling structural heart device firm have each left the company and Chief Operating Officer Richard E. Davis was tapped to replace them, NMT announced Aug. 26. Frank Martin, who served as president and CEO for about a year and a half, is stepping down, as is James J. Mahoney, Jr., chairman of the board since January 2008. The company also reduced the size of its board. Davis said the firm is "considering all potential financing alternatives and will continue to evaluate our strategic options accordingly." The firm reported in June that its STARFlex patent foramen ovale closure device missed its primary endpoint in the closely watched CLOSURE I stroke/transient ischemic attack pivotal trial (1"The Gray Sheet" Aug. 2, 2010)
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Hospital spending picks up for Varian: North American orders for Varian Medical Systems' radiation oncology products were up 12% in the third quarter, ended July 2, the firm said on a July 28 earnings call. This compares to a 12% year-over-year decline in North American orders last quarter. The turnaround reflects a "large number of small orders" from hospitals, which appeared to increase spending in the quarter, according to Varian CEO Tim Guertin. Freestanding radiation treatment facilities, meanwhile, are still in recovery mode, he said. The firm's worldwide oncology orders grew 10% to $507 million. Varian's total net revenue for the quarter was $578 million, up 13%