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  • Japara ponders new year listing | Business Spectator
    is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Japara ponders new year listing Bridget Carter The Australian 20 Nov 2013 8 52 AM DataRoom Equity Capital Markets Industries Health and Pharmaceuticals The nursing home giant is considering a float that would value the group at about 500 million You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Nursing home giant Japara Holdings is planning to float on the Australian Securities Exchange early next year and is currently working closely on the move with investment bank Macquarie Group according to sources It would create a new listed aged care company with an enterprise value of about 500 million Japara is one of the largest operators in the aged care and retirement industry with 35 nursing homes and five retirement villages throughout Victoria South Australia NSW and Tasmania that are home to 2800 residents Private equity giant Blackstone was in talks to buy the business before it was recapitalised last year Japara chief executive Andrew Sudholz was not available for comment yesterday The company s plans come amid a period of consolidation in the care sector where smaller operators are being swallowed by major players and private equity groups circle assets An Asian investor is currently in due diligence to buy South Australia s Bonney Healthcare Group for a price believed to be less than 100m according to sources Bonney a family owned company has 280 beds at three facilities in South Australia at Hahndorf Klemzig and Christies Beach Craig Care which has eight nursing homes in Western Australia and Victoria has denied speculation it is for sale despite suggestions that the company was to join forces with Japara for a venture backed by an investor from Asia Meanwhile groups including KKR large Canadian pension funds such as Alberta Investment Management and private equity are also circling Macquarie Group s stake in the 550m Regis business A group from Asia is also believed to be interested in the group which has 48 nursing homes across Australia according to its website with

    Original URL path: http://www.businessspectator.com.au/news/2013/11/20/dataroom/japara-ponders-new-year-listing (2014-01-13)
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  • J&J agrees to pay settlement | Business Spectator
    Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Dow Jones Newswires In its latest multibillion dollar legal settlement Johnson Johnson has agreed to pay at least US2 5 billion to resolve thousands of lawsuits filed by patients who alleged they were injured by some of the company s artificial hips according to people familiar with the matter J J would pay 250 000 for each surgery to replace the hips in about 8 000 patients in the US according to people familiar with the matter In addition the company would set up a 475 million fund to cover the costs of extraordinary medical injuries such as strokes heart attacks or multiple surgeries to replace artificial hips the people said The sides are still negotiating the timing of J J s payments and other final terms according to the people familiar with the matter But the sides reached a tentative understanding about the broad outlines of a deal a few weeks ago one of the people said And an announcement could come soon possibly as early as Tuesday A federal judge in Toledo Ohio who must approve the settlement is scheduled to consider it later Tuesday J J has already spent an undisclosed sum to pay for surgeries replacing its ASR metal on metal hip implants in some patients The company could also face additional costs One person familiar with the settlement talks said J J would also pay off liens costing around 60 000 to 75 000 for each patient The liens were taken by government health plans like Medicare and private insurers while covering the medical costs of the patients But a second person familiar with the talks said that wouldn t be part of any announcement A deal would allow J J of New Brunswick N J to move past another set of long running legal issues On Nov 4 the company agreed to pay a total of 2 2 billion and plead guilty to a misdemeanor in a deal with federal prosecutors to settle investigations into the company s marketing of the antipsychotic Risperdal and other drugs The company still faces other sizeable litigation including more than 23 000 lawsuits involving surgical mesh products implanted in women to relieve severe discomfort in their pelvises after childbirth according to J J s quarterly securities filing And J J will still face litigation over the hips The agreement wouldn t resolve the lawsuits of patients outside the US J J faced more than 12 000 lawsuits over the hips made by its DePuy Orthopaedics unit according to a recent securities filing which didn t break down the number in the US and abroad The company has said about 37 000 patients in

    Original URL path: http://www.businessspectator.com.au/news/2013/11/20/health-and-pharmaceuticals/jj-agrees-pay-settlement (2014-01-13)
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  • Merck raises profit forecast | Business Spectator
    this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Goldman s coal shoulder The investment bank giant has sold its stake in what would be the largest coal terminal on the US west coast in the wake of its report outlining the fall of coal globally The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Merck raises profit forecast 15 Nov 2013 12 52 AM Industries Health and Pharmaceuticals German drugmaker cites benefit from rising sales cost cuts You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP German chemicals and pharmaceuticals giant Merck says it is raising its full year operating profit forecast thanks to improving sales and positive cost cutting effects Based on business performance in the third quarter of 2013 Merck is raising its forecast for operating profit for the full year despite negative currency effects the company said in a statement on Thursday Full year earnings before interest tax depreciation and amortisation EBITDA were now projected to come out at 3 2 3 25 billion A4 65 A4 73 billion Previously Merck had been pencilling in EBITDA of 3 1 3 2 billion for the whole of 2013 In addition to moderate organic sales growth the main reason for this is the accelerated implementation of savings measures Merck said In the three months to September EBITDA climbed by 10 1 per cent to 830 7 million Net profit rose to 340 million euros from 185 million a year earlier but sales declined by 3 1 per cent to 2 752 billion hit by the strong euro Print this page Related articles 20 Dec The year in charts 10 Dec Patients doctors

    Original URL path: http://www.businessspectator.com.au/news/2013/11/15/health-and-pharmaceuticals/merck-raises-profit-forecast (2014-01-13)
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  • Novartis in $1.8bn diagnostics sale | Business Spectator
    Politics Smart Energy Latest stories Goldman s coal shoulder The investment bank giant has sold its stake in what would be the largest coal terminal on the US west coast in the wake of its report outlining the fall of coal globally The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Novartis in 1 8bn diagnostics sale 12 Nov 2013 3 52 AM Industries Health and Pharmaceuticals Swiss pharmaceuticals giant sells blood transfusion business to Spain s Grifols You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Swiss pharmaceuticals giant Novartis says it will sell its blood transfusion diagnostics unit to the Spanish firm Grifols for US1 68 billion 1 79 billion Analysts now say more divestments may be on the cards The division which last year raked in sales of US565 million joined the Novartis family in 2006 as part of the Swiss company s acquisition of US firm Chiron The sale due to be completed in the first half of 2014 comes as Novartis undergoes an in depth review of its operations following the departure of long time chairman and former chief executive Daniel Vassela The sale of the Novartis blood transfusion diagnostics unit enables us to focus more sharply on our strategic businesses while providing Grifols with a platform for global expansion Novartis chief Joseph Jimenez said in a statement on Monday The pharmaceutical industry as a whole is facing a number of significant challenges including a wave of expiring patents and deep spending cuts in many public health sectors forcing companies like Novartis to restructure and slim down Since Joerg Reinhardt took over as chairman in August analysts have been speculating over which units might be the first to go with the Vaccines and Diagnostics division and Animal Health unit among the most widely tipped Observers were quick on Monday to hail the sale of the blood transfusion test unit Novartis has stated that its businesses must have sufficient scale As this was certainly not the case with the blood transfusion business the

    Original URL path: http://www.businessspectator.com.au/news/2013/11/12/health-and-pharmaceuticals/novartis-18bn-diagnostics-sale (2014-01-13)
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  • Sounds like trouble for Cochlear | Business Spectator
    Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Goldman s coal shoulder The investment bank giant has sold its stake in what would be the largest coal terminal on the US west coast in the wake of its report outlining the fall of coal globally The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Sounds like trouble for Cochlear Kirstie Spicer 8 Nov 2013 10 24 AM 1 Industries Health and Pharmaceuticals Markets ASX Investors are betting heavily that Cochlear s fortunes will decline You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Short interest in hearing device maker Cochlear has rocketed to 16 per cent of shares outstanding Since reporting in early August the short interest in Cochlear has increased by around 75 per cent as investors take the view the company has further to slide as it battles to maintain market share in the market it once dominated Such decisive moves in the short interest in a small period of time suggest the market is expecting Cochlear s share price to slide further from here Before the annual general meeting almost a month ago short interest was at a less convincing level oscillating around 11 per cent Full year earnings guidance released at the annual general meeting didn t impress Cochlear shareholders as management tipped similar net profit to the financial year just gone consequently sending the level of short interest higher Major competitor Sonova of Switzerland reports later this month potentially moving Cochlear s share price and short interest from current levels Any guidance on market share from Sonova has the potential to put Cochlear even more out of favour with domestic investors Coca Cola Amatil is also racking up the short interest with the measure gaining nearly 20 per cent in the past month to hover around 2 6 per cent The short interest escalation coincides with the latest earnings downgrade released earlier this week While short interest in Coca Cola isn t

    Original URL path: http://www.businessspectator.com.au/article/2013/11/8/markets/sounds-trouble-cochlear (2014-01-13)
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  • Nestle sells Jenny Craig | Business Spectator
    a number of key upgrades that bring it the Window s phone platform to parity with its Android competition But does this phablet do enough to sway attention from its rivals Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Goldman s coal shoulder The investment bank giant has sold its stake in what would be the largest coal terminal on the US west coast in the wake of its report outlining the fall of coal globally The nuclear renaissance is stone cold dead There is no nuclear recovery with the industry last year flailing to stay above water in key markets and its share of global electricity continuing a seemingly inexorable decline Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Nestle sells Jenny Craig 8 Nov 2013 12 23 AM Industries Food and Beverages Health and Pharmaceuticals Nestle sells weight management company to private equity firm You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Nestle the world s biggest food and drink company says it has sold off its weight management business Jenny Craig in North America Australia New Zealand and the Pacific Islands The Vevey Switzerland based company says the business was sold to North Castle Partners a US private equity firm based in Greenwich Connecticut focused on companies that promote health wellness and active living Nestle s statement on Thursday said the Jenny Craig business in France was not part of the transaction Jenny Craig founded in 1983 had been part of Nestle s nutrition portfolio since 2006 Nestle says the new owners will take over the businesses and offer employment to Jenny Craig staff but the financial details of the deal subject to customary closing conditions will not be disclosed Print this page Related articles 13 Jan Saputo lifts WCB stake 11 Jan Murray Goulburn mulls 10 WCB bid report 10 Jan Saputo increases WCB stake again 10 Jan Cabinet wary on SPC funding

    Original URL path: http://www.businessspectator.com.au/news/2013/11/8/food-and-beverages/nestle-sells-jenny-craig (2014-01-13)
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  • dorsaVi, used by football clubs, seeks $18 million in IPO | Business Spectator
    Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu dorsaVi used by football clubs seeks 18 million in IPO Brett Cole 7 Nov 2013 11 37 AM DataRoom Industries Health and Pharmaceuticals Five AFL clubs and two English Premier League clubs use dorsaVi s movement monitoring system for injury prevention and the company is seeking US FDA approval You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password dorsaVi Ltd which has developed a wireless sensor movement monitoring system for the medical and sports markets is seeking to raise 18 million in an initial public offering The IPO fully underwritten by Canaccord Genuity Australia Ltd will sell 41 25 million shares to investors at 40 cents each according to dorsaVi s prospectus dorsaVi was started in 2000 by Andrew and Dan Ronchi physiotherapists in private practice who counted an Australian Football League team as a client The brothers worked on developing a wireless sensor movement monitoring system that by 2008 had attracted an investment from Melbourne based venture capital firm Starfish Ventures Starfish will be issued with 3 75 million shares bringing dorsaVi s total number of shares to 121 25 million That gives the company which is loss making an indicative market value of 48 5 million In the 12 months to June 30 2013 dorsaVi s sales revenue was 398 607 and it made a loss from continuing operations of 1 6 million In its prospectus the company says its technology can accurately objectively and quantitatively measure movement and position of the human body in real time and in real situations Five AFL clubs including Richmond Football Club and two English Premier League clubs use dorsaVi s product for player screening and injury prevention Pads are put on the skin to collect data on motion and muscle activity at rates up to 200 times per second via a wearable wireless unit that is smaller and lighter than a mobile phone Data can be collected over 24 hours and the monitoring and analysis dorsaVi says can be applied to the workplace to prevent injury AFL team Richmond reduced its soft tissue injuries by 27 per cent in the 2012 season by using dorsaVi technology according to the prospectus dorsaVi whose chairman is Australia s greatest middle distance runner Herb Elliott employs just 13 people but plans to expand into the US and Europe It is awaiting US Food and Drug Administration approval of its product dorsaVi s IPO is the second such deal this year that has been won by investment bank Canaccord The firm is also the underwriter of a planned 30 million share

    Original URL path: http://www.businessspectator.com.au/article/2013/11/7/dataroom/dorsavi-used-football-clubs-seeks-18-million-ipo (2014-01-13)
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  • J&J to pay fraud settlement | Business Spectator
    and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu J amp J to pay fraud settlement 5 Nov 2013 5 40 AM Industries Health and Pharmaceuticals Health giant to pay steep price for allegations of drug promotions You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Global health care giant Johnson Johnson will pay more than US2 2 billion A2 3 billion to settle allegations that it fraudulently promoted drugs and used kickbacks to promote their sales In one of the largest health care fraud settlements in US history J J s criminal and civil fine covers allegations the company marketed Risperdal and other prescription drugs for uses not approved as safe and effective by the Food and Drug Administration FDA The settlement further covers kickbacks J J allegedly paid to physicians and pharmacies for prescribing and promoting those drugs the US Justice Department said on Monday The actions resulted in millions of dollars paid under Medicaid the government health insurance program for low income and disabled people causing losses to both the federal and state governments This global settlement resolves multiple investigations involving the antipsychotic drugs Risperdal and Invega as well as the heart drug Natrecor and other Johnson Johnson products Attorney General Eric Holder said in a statement The settlement also addresses allegations of conduct that recklessly put at risk the health of some of the most vulnerable members of our society including young children the elderly and the disabled J J is to pay US485 million in criminal fines and forfeiture and a total of US1 72 billion in civil settlements with the federal government and states J J unit Janssen Pharmaceuticals admitted it had promoted Risperdal for unapproved treatment of elderly dementia patients and will pay a total of US400 million including a criminal fine of US334 million and forfeiture of US66 million Janssen s guilty plea requires approval by the US district court In separately filed civil complaints the government alleged that J J and Janssen promoted Risperdal and Invega a newer antipsychotic drug to doctors and to nursing homes as a way to control behavioural disturbances in elderly dementia patients children and the mentally disabled The civil settlement also resolves allegations that J J and Janssen paid kickbacks to Omnicare the nation s largest pharmacy specialising in dispensing drugs to nursing home

    Original URL path: http://www.businessspectator.com.au/news/2013/11/5/health-and-pharmaceuticals/jj-pay-fraud-settlement (2014-01-13)
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