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Monday, September 04, 2017 8:08:01 AM
Both Tom Looby and Babini have been part of companies sold to Medtronic.
Babini was Divisional Sales Director at United States Surgical Corporation - which became part of Covidien - which was then purchased by Medtronic.
Looby's Given Imaging was also sold to Covidien before it became Medtronic.
Here's the history from wikipedia:
In 1998, Tyco Healthcare acquired Sherwood, Davis & Geck, a manufacturer and distributor of disposable medical products, and United States Surgical Corporation (U.S. Surgical), which provided suture and auto suture devices, along with energy-based devices, through its Valleylab brand. And, in 2000, Tyco Healthcare added respiratory and monitoring products provider Nellcor Puritan Bennett through the acquisition of Mallinckrodt Inc.
In 2007, Covidien was formed when Tyco International spun off its health care business. Since that time, Covidien has made a number of acquisitions including VNUS Medical Technologies, Aspect Medical Systems, Somanetics, ev3, BÂRRX, Newport Medical Instruments, superDimension, Oridion Systems and Given Imaging. Offshoring and focus on Low Cost Countries (LCC) resulted in several plant closures in the USA particularly a few in upper New York state.
Covidien was purchased by Medtronic in a transaction that closed in 2015.
https://en.wikipedia.org/wiki/Covidien
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I think if Ekso wanted, they could have sold majority control long ago - but instead have decided to hold onto their cards a little longer.
I don't know how many of you watch Silicon Valley, but keeping company ownership in-house is what's in style even if it's painfully, comically hard to do. It's still the only way to be hugely successful.
The last thing I'll point out is this:
Ekso is headquartered in Richmond, California
Bristol-Myers Squibb, often referred to as BMS, is an American pharmaceutical company, headquartered in New York City.
Medtronic's operational headquarters is in Fridley, Minnesota.
Intuitive Surgical is headquartered in Sunnyvale, California
Siemens is headquartered in Germany.
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