Dallas-based Kimberly Clark to Sell Healthcare Unit

Kimberly Clark, the Dallas-based paper giant, will try to sell its healthcare unit, the company announced last week. The healthcare segment—which produces surgical products and medical devices—has about $1.6 billion in annual sales. While Kimberly Clark is based in Dallas, its health unit is based in Roswell, Ga. and employs about 16,000. “While K-C Health Care has been part of our company since the 1970’s, its strategic fit and growth priorities have changed over time and we now think that pursuing a spin-off makes sense for our shareholders,” Kimberly-Clark chairman and CEO Thomas J. Falk told shareholders. “This announcement is further… Full Story

Dallas Entreprenuer Risks It All on Promising Device for Diabetics

On Monday, Scott Smith quit his day job. Smith’s Socrates Health Solutions is one of 12 startups in the first class selected last month by seed accelerator Health Wildcatters. But until this week, Smith was working nights and weekends to nurture the birth of a non-invasive self-monitoring blood glucose device, while punching in every day for a Boston-based, post-acute care software firm. At 47, Smith is a serial entrepreneur, participating in five previous startups. Two were sold, one became a public company, and two failed. For the past year, the divorced father of three has leveraged his life savings for… Full Story

Former Texas Medical Device Executives Indicted

The former top two executives of an Austin medical-device company have been indicted on wire and securities fraud charges, accused of defrauding shareholders and investors out of $400 million, the Associated Press reported this week. A federal indictment accuses former ArthroCare chief executive Michael Baker and former ArthroCare finance chief Michael Gluk of conspiracy, 11 counts of wire fraud, and two of securities fraud. Baker was also charged with three counts of making false statements. The indictment accuses the pair of inflating ArthroCare’s earnings by tens of millions of dollars to falsely encourage investment from December 2005 through December 2008. The… Full Story

Innovative Surgery Aids Late-Stage AMD Patients

Helen Locklear, 75, is grateful to be able to see the flowers in her yard again. “I have a beautifully landscaped yard. I can really look at the colors of my roses and lilies. That makes me very excited,” she said. Arlington cornea surgeon Aaleya Koreishi, M.D., implanted a tiny telescope into Locklear’s right eye at Arlington Memorial Hospital in March to combat her end-stage age-related macular degeneration. Locklear said she still is getting used to the telescope’s distortion of depth perception. “My coffee cup seems to be about the same size as my hand,” she said. Koreishi, who is… Full Story