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Orthopedic and Dental Industry News

August 2004

New 'Growth Factors' Mere Months from Commercialization BY ROBIN R. YOUNG CFA, AUGUST 30, 2004

On July 13/2004 a small group of researchers and businessmen presented to an FDA panel the results of 15 years of research and clinical study the net effect of which was a unanimous panel approval for a new, recombinant platelet-derived... more

Cartilage Repair Technologies Coming to Market BY ROBIN R. YOUNG CFA, AUGUST 30, 2004

Data from the largest clinical trial ever conducted on the human meniscus is starting to make its way into the FDA. The first module was submitted in early July. The next modules are being submitted over the course of 2004.... more

Wright Medical, Regeneration Technologies, LifeCell, Orthovita, MacroPore and Stellar International Slated to Join 30 Other Presenters at October Biomaterials Summit in New York BY ROBIN R. YOUNG CFA, AUGUST 23, 2004

Headlining this year's one-day Biomaterials Summit will be Wright Medical, Regeneration Technologies, LifeCell, Orthovita, MacroPore and Stellar International. All are leaders in the field and working on significant new technologies. Wright Medical, whose sales for the first half of 2004... more

Management Change at Raymedica BY ROBIN R. YOUNG CFA, AUGUST 23, 2004

Tony Phillips, the long time CEO of Raymedica has left the firm to pursue other interests. Members of Raymedica's board, specifically Kent Archibald, are now running the company. John Viscogliosi, another board member and member of the Viscogliosi Brothers investment... more

Public Company Orthopedic Revenues Rise 17% First Half 2004 BY ROBIN R. YOUNG CFA, AUGUST 23, 2004

As reported by public orthopedic companies, sales for the first half were $8.7 billion, up 17% from the prior year's $7.4 billion. This compares to sales growth in the first half of 2003 of 18%. One year earlier, in the... more

The Struggle to Reimburse Disc Arthroplasty BY ROBIN R. YOUNG CFA, AUGUST 23, 2004

Two weeks ago, the Centers for Medicare and Medicaid Services (CMS) published its most recent ruling concerning reimbursement for the $10,600 disc replacement implant (versus, by the way, $4,800 for a BAK cage). CMS ruled that disc arthroplasty products like... more

Smith & Nephew (SNN:NYSE) Reports 14% Rise in Orthopedic Revenues 21% Increase in U.S. Knee Sales BY JOHN CHOPACK, AUGUST 16, 2004

Smith & Nephew reported an 8% increase in revenues which totaled '350 million for the 2Q:04. Orthopedics was the strongest segment of SNN, increasing by 14% worldwide and 18% in the US. Growth in Endoscopy sales rebounded from flat to... more

Encore Medical (ENMC:NASDAQ) Reports Revenues Totaled $29.3 Million for the 2Q:04; Analyst were Expecting $30.4 Million BY JOHN CHOPACK, AUGUST 16, 2004

The slight miss in net revenues combined with missing analyst EPS expectations by $0.01 ($0.04 reported versus a $0.05 estimate) sent shares of ENMC downward by 23% on Monday. Encore follows Stryker, Exactech, Wright, and Zimmer who have all seen... more

Mapping the Future of Spine BY ROBIN R. YOUNG CFA, AUGUST 16, 2004

A small but select group of leading spine surgeons, entrepreneurs, venture capitalists and leading strategic spine companies met for three days last month at a remote, cell phone challenged location to debate, dissect and discuss the future of the spine... more

Zimmer Beats the Street by $0.03 in EPS and $4 Million in Revenues; Stock Sells Off 13% in Intraday Trading BY JOHN CHOPACK, AUGUST 16, 2004

It is like a broken record; another solid orthopedic earnings report and investors dump shares, again. In similar fashion to Stryker, Exactech and Wright Medical, Zimmer (NYSE: ZMH) beat analysts earnings expectations and investors reacted by selling shares. The difference... more

VITOSS' and IMBIB deliver 52% Sales growth to Orthovita BY ROBIN R. YOUNG CFA, AUGUST 16, 2004

Calcium has been good to Orthovita; particularly the nano-particle version known as beta tri calcium phosphate, sold by Orthovita under the brand name VITOSS'. VITOSS' is offered in either blocks or morsels. Compared to HA-CC blends (Hydroxyapatite and Calcium Carbonate),... more

Is Kyphon #2 Behind Sofamor Danek in terms of Spine Industry Market Power? BY ROBIN R. YOUNG CFA, AUGUST 16, 2004

On the heels of its first $50 million quarter, Rich Mott, Kyphon's CEO, predicted that his firm would post revenues between $210 and $212 million for the year ending this December. Three years ago, in 2001, Kyphon booked sales of... more

dj Orthopedics Reports Second Quarter Earnings - Announces Regentek Integration BY JOHN MCCORMICK, AUGUST 2, 2004

dj Orthopedics, Inc. (NYSE: DJO) met analysts' $0.21 second quarter earnings expectations for the second quarter of 2004 after an adjustment for a bond redemption premium. 2Q:04 revenues for DJO were $63.2 million, 33.2% higher than last year's 2Q:03 (7.2%... more

Zimmer Holdings (ZMH:NYSE) Reports 2Q:04 Earnings - Beats the Street and Sells Off BY JOHN CHOPACK, AUGUST 2, 2004

It seems that orthopedic investors have it in their mind this earnings season that unless a company crushes its numbers and guides significantly to the upside, they will dump shares. This happened to Stryker, Exactech and Wright Medical and now... more

Wall Street Disconnects Performance from Valuation in Orthopedics BY ROBIN R. YOUNG CFA, AUGUST 2, 2004

What if Ray Elliott could take a dollar and grow it to $1.30 over the course of a single year - and do it year in and year out for a decade? What if the number of customers asking for... more

Wright Medical Reports a 22% Increase in Revenues and a 34% Increase in Earnings; Stock is Off as Much as 16% on Wednesday BY JOHN CHOPACK, AUGUST 2, 2004

In a common trend this earnings season, Wright Medical reported in our opinion one of the best second quarters of 2004 in the orthopedic sector and investors congratulated the Company by dumping shares. Wright Medical is one of four large... more

The Pathos of Osteotech BY ROBIN R. YOUNG CFA, AUGUST 2, 2004

Osteotech's stock price is now down to $3.87. With 17 million shares outstanding, the company's market value is $67 million. The last time Osteotech was valued so low was in September of 2001. In 2001, Osteotech lost $4.4 million on... more

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