Cabot Medical
This article was originally published in The Gray Sheet
Executive Summary
Intends to take a charge of $8 mil. to $10 mil. in its fiscal fourth quarter related to "recent plans of the company to realign its operations to be more competitive" in the changing health care environment, the firm said Oct. 7. The charge will include reserves for potential severance packages, "reserves for product and facility rationalization, inventory and fixed asset reductions and other administrative cost reductions." The firm simultaneously announced that its Falope-Ring Band kit received FDA approval; additional information about the kit, used to perform tubal ligation sterilization procedures, will be released in the coming weeks.