Boston Scientific profits take 3rd quarter dive

Dwindling demand for pacemakers and defibrillators cut into Boston Scientific’s bottom line in the latest quarter. Profits fell 25 percent. The company announced layoffs earlier this year for some of the Twin Cities 5,000 Boston Scientific workers.
Author:
Publish date:

Dwindling demand for pacemakers and defibrillators cut into Boston Scientific’s bottom line in the latest quarter. Profits fell 25 percent. The company announced layoffs earlier this year for some of the Twin Cities 5,000 Boston Scientific workers.

Next Up

Related

Boston Scientific names next CEO

Boston Scientific has selected Johnson & Johnson executive Michael Mahoney as its new chief executive. Mahoney will replace retiring CEO Ray Elliott on Nov. 1.

Capella Education's net profit plummets 49 percent in third-quarter

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.

TCF's profits plunge in fourth quarter

CEO Bill Cooper says new rules that cap how much banks can charge retailers for debit card transactions are partly to blame for the poor numbers. He also cited start-up costs associated with a new specialty finance division.

Boston Scientific acquires Plymouth-based BridgePoint

Massachusetts-based Boston Scientific is buying medical startup BridgePoint Medical Inc., the Star Tribune reports. The small privately held firm has developed an innovative system to clear coronary arteries without bypass surgery. Terms of the deal were not disclosed.