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Orthopedic and Dental Industry News

August 2003

After Checking Out the Payday for Centerpulse's Managers all we can say is... Make Sure Ray Elliott is on the Christmas Card List BY EDITOR, AUGUST 25, 2003

Max Link, Centerpulse’s CEO, could get severance pay of nearly five million Swiss francs ($3.53 million) if he leaves the firm within a year of Zimmer's takeover. (Centerpulse, by the way, has declared that its recommendation to shareholders to vote... more

Orthofix comes to terms with the U.S. government. BY EDITOR, AUGUST 25, 2003

Apparently “off-label” is a “no-no” if you're a U.S. military physician. Orthofix fought for a while, then settled. Last week, Orthofix decided it was better off avoiding the costs of a protracted litigation battle with the government and opted to... more

Orthovita Books a 37% Pop in Sales and 83% Gross Margins. Can Break-even be far off? BY EDITOR, AUGUST 25, 2003

For the June quarter, Orthovita reported a 37% YOY jump in sales to $3.7 million. Gross margins were a stellar 83%. But losses for the quarter came in at $2.3 million (down from the prior year's $3.0 million loss for... more

Is Biomet the bargain of the Industry? BY EDITOR, AUGUST 25, 2003

Is anyone paying attention to Biomet? With Stryker at 38x earnings, Zimmer at 31x earnings and little ol' Wright Medical (3% market share) at a whopping 48x earnings, why is Biomet at 26x? Those, by the way, are trailing 12... more

DJ Orthopedics beats estimate by 50%. Market is silent. BY EDITOR, AUGUST 11, 2003

DJ Ortho reported a sharp increase in net earnings to $2.7 million ($0.15 per share) on just a 4% rise in sales to $47 million for the June quarter. Operating margins improved significantly in the quarter reaching 15% of sales.... more

More problems at CryoLife - and it goes well beyond sales or earnings. BY EDITOR, AUGUST 11, 2003

CryoLife reported a loss of $22.3 million on sales of $15.7 million for the quarter ended June 30. Orthopedic sales, which amounted to $280,000, were less than we'd expected and appear to have been delayed from management's earlier forecasts. But... more

A Shocking Move: Smith & Nephew Drops Out of Takeover Battle for Centerpulse without a Fight BY EDITOR, AUGUST 11, 2003

To our surprise, as well as most of the analyst on Wall Street, Smith & Nephew publicly announced its decision not to up its current offer of approximately $2.5 billion in order to triumph Zimmer Holdings approximate $3.1 billion offer.... more

Spine industry revenues set to triple over the coming decade BY EDITOR, AUGUST 11, 2003

Based on the dynamic duo of demographics and technological innovation (specifically disc arthroplasty and minimally invasive surgical tools and techniques) spine industry revenues will, we estimate, rise from $2 billion currently to $7.2 billion by 2012. Who will be the... more

In a testament to second chances, InFUSE gets CMS approval for $8,900. BY EDITOR, AUGUST 4, 2003

Rejected one year ago... Medtronic came back with new data and CMS, while rejecting InFuse again using one analytical approach found another way to show that InFUSE does indeed meet the threshold requirement for receiving a new technology add-on payment.... more

SPINE Summit Scheduled for October 9th in NYC BY EDITOR, AUGUST 4, 2003

See you at the Summit!! It's been an extraordinary year for the Spine industry. CMS finally approved an add-on payment for InFUSE™. Just a few months ago Spine Solutions, a development stage company, sold to Synthes for $350 million. Link... more


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