New England Tech Stock Index
Boston Scientific’s way up, VC deals are way down, and Epix is down and out in today’s NewsFlash roundup. Also, News editor Rodney Brown drops by Draper Lab’s Apollo 11 anniversary party.
• Boston Scientific profits up 60%
The Natick-based manufacturer of medical devices had revenue of $2.07 billion in the second quarter of this year, up slightly from $2.02 billion in the second quarter of 2008. Net income increased to $158 million from $98 million a year earlier.
The Lexington-based company’s officials said that the company was unable to raise enough money or enter into a partnership in time and that it has entered into an Assignment for the Benefit of Creditors. The purpose of the Assignment is to conclude the company’s operations and provide for an orderly liquidation of its assets.
• New NVCA data reveals fewer Q2 VC deals, slower recovery
Numbers reported this morning by the NVCA and PricewaterhouseCoopers LLP were considerably less optimistic, showing $3.7 million invested over 612 deals. While Dow Jones analysts predicted a “rebound” in the venture investing sector, the NVCA says figures for the full year will most likely reflect a setback to 1996 and 1997 levels of $11 billion to $14 billion. (more…)
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