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Orthopedic and Dental Industry News

June 2005

Healthcare Policy Conference Notes BY LAING RIKKERS, JUNE 30, 2005

Greetings from the SG Cowen and ISI Health Care Policy Conference in Washington D.C. It's been a full day covering Medicare, Medicaid, FDA, Specialty Hospital Policy and Gainsharing. We've heard from Representative Pete Stark (D-CA) and Senator Debbie Stabenow (D-MI),... more

U.S. Spinal Technologies raises $4 Million BY JOHN MCCORMICK, JUNE 29, 2005

U.S. Spinal Technologies, LLC (commonly known as U.S. Spine) announced yesterday that they have successfully raised a cumulative $4.1 million from private investors and one major financial institution. This Florida based spine start-up was founded by Doris Blake in 2003.... more

LifeCell: The Five Year Champion BY JOHN CHOPACK, JUNE 28, 2005

The allograft market has been extremely volatile during the last five years providing investors both short and long return opportunities. Five years ago the allograft soft tissue market was dominated by CryoLife which had a market capitalization of $300 million... more

CMS Approves Orthofix Application for External Fixation BY JOHN MCCORMICK, JUNE 28, 2005

This morning Orthofix announced that Centers for Medicare & Medicaid Services (CMS) approved the Company's request to modify its coding mechanisms to include specific coding for hospital procedures utilizing external fixation devices. As of October of this year, facilities will... more

Symmetry Shareholders to Sell BY JOHN MCCORMICK, JUNE 27, 2005

This morning, Symmetry Medical (NYSE: SMA), a major supplier to the industry, filed an S-1 Statement with the Securities and Exchange Commission indicating that it would like to sell 10 million shares. Only 500,000 shares would be sold in order... more

IsoTis Appoints Jim Hart to Board BY JOHN MCCORMICK, JUNE 27, 2005

At a recent shareholders' meeting IsoTis OrthoBiologics announced that it appointed James (Jim) Hart to its Board of Directors. Jim is familiar to many of you as the former CEO of Opus Medical which was sold to ArthroCare for over... more

Orthopedic News Roundup 24-Jun-05 BY HUYEN NGUYEN, JUNE 24, 2005

The New York Times covers (registration required) the obstacles facing evidence-based medicine in a cardiac-centric article that touches on orthopedics. Hospitals are pressuring device prices down, and gives a good quick treatment to the the reimbursement issue we cover... more

DOJ Attorney Speaks on Subpoenas BY SUSAN BERSON, JUNE 23, 2005

Last week I listened in on an audio conference regarding the DOJ investigations. Certain comments by Jim Sheehan, AUSA for the Eastern District of Pennsylvania were quite interesting and provide some guidance... more

Biomet Revises 4Q:05 Earnings Guidance Downward BY JOHN CHOPACK, JUNE 21, 2005

Biomet announced last evening that it was reducing its 4Q:05 earnings guidance as a consequence of hitting the low end of its previous range for 4Q:05 revenues. The Company stated that revenues totaled $503 million for the 4Q:05 which is... more

Knowing the Policies BY LAING RIKKERS, JUNE 16, 2005

We think reimbursement and regulatory issues are critical in orthopedics. On June 30th, John McCormick and I will be attending the SG Cowen and ISI Health Care Policy conference in Washington D.C. It looks like a great set of speakers... more

Senate Panel Approves Crawford as FDA Head BY JOHN MCCORMICK, JUNE 15, 2005

Lester Crawford's lengthy approval process to formally serve as FDA Commissioner took a great leap forward today when the Senate Committee on Health, Education, Labor and Pensions approved his nomination. To date, he has held the post of Acting Commissioner... more

Allograft versus Xenograft BY JOHN CHOPACK, JUNE 15, 2005

One of our readers recently posted asking for everyone's opinion on allograft and xenograft. We thought we would give you our take first and then let the readers respond. First, we should define both for all the readers: allografts are... more

Ranier Technology Secures $7.3m Funding BY JOHN MCCORMICK, JUNE 14, 2005

Today Ranier Technology Limited, a UK based artificial disc manufacturer announced that it received £4 million ($7.3 million) in an institutional venture capital round. The funding was provided by FNI Venture Capital, which was a previous investor in Ranier's first... more

Interview with Mike Callahan of Invibio BY JOHN MCCORMICK, JUNE 14, 2005

Today we are publishing our recent interview with Mike Callahan Managing Director of Invibio, ltd. Many of you know Invibio as a principal supplier of PEEK polymer to the industry an increasingly important material used in orthopedic applications. Q: How... more

No Hanky Panky at FDA: Crawford Confirmation Moves Forward BY JOHN MCCORMICK, JUNE 9, 2005

An inquiry requested by Wyoming Senator Mike Enzi, concluded yesterday clearing acting Food and Drug Administration Commissioner Lester Crawford of having an extramarital affair with an agency employee. The inquiry was conducted by the inspector general of the Department of... more

Hip Resurfacing in the U.S.? BY JOHN CHOPACK, JUNE 8, 2005

About six months ago I had an individual come into my office asking about an article he had recently read in a local newspaper regarding hip resurfacing. The man was approximately 40 years old and was too young for a... more

Pegasus Biologics, Inc. Raises $10M BY JOHN MCCORMICK, JUNE 8, 2005

Billion dollar cardio investor Three Arch Partners is making further inroads into ortho with their investment in Irvine, CA based Pegasus Biologics, Inc. a developer of advanced collagen-based bioimplants. Frazier HealthCare Ventures joined Three Arch in what turned out to... more

Reimbursement Report -- Available for download BY KAREN FEDER, JUNE 8, 2005

February 2010 update: This report is no longer available for purchase. Learn more here. Reimbursement is one of those issues you might wish would go away. Bureaucratic, jargon-heavy, inefficient, not easy to learn, and mostly boring. For everyone who knows... more

The Creation of a New Orthopedic Supplier: Orchid Orthopedic Solutions, LLC BY JOHN MCCORMICK, JUNE 7, 2005

Two weeks ago a new orthopedic supplier called Orchid Orthopedic Solutions, LLC was unveiled by its private equity backer Churchill Equity Partners. This is not necessarily a start-up. In fact, Orchid is what an investment industry professional might call a... more

Wall Street Journal Profiles J&J Charite BY JOHN MCCORMICK, JUNE 7, 2005

Today the Wall Street Journal profiled J&J's Charite artificial disc. The overall tone of the article was "this may be a good thing, but...", ergo the press is raising questions once again. The familiar benefits of the disc were noted... more

About This Site BY EDITOR, JUNE 7, 2005

HealthpointCapital is a private equity firm totally focused on the musculoskeletal sector — specifically orthopedics and dental. For that reason, we have an in-house Research team, which makes us unusual among our peer group. Part of the firm's mission is... more

What's Changed on Our Site? BY EDITOR, JUNE 7, 2005

Since 2002, HealthpointCapital has written commentary about the business of orthopedics. These articles were posted on our website, but to actually read most of them you had to be a paid subscriber of our "Weekly Journal" product. We also broadcast... more

NuVasive Acquires Cervical Plate BY JOHN MCCORMICK, JUNE 6, 2005

NuVasive (nasdaqNM: NUVA) announced on Monday that they are acquiring RSB Spine's dynamic cervical plate technology and a right of first refusal for additional products developed by RSB for about $14.5 million in cash and stock. In addition, RSB will... more

Guidelines for commenters BY EDITOR, JUNE 2, 2005

Comments should be relevant to the original post, in good taste, professional in nature, and constructive. They also should be about the orthopedics industry, not about individual patient outcomes. (For community discussion of your condition, we recommend the Health Boards... more

Disclosure Policy BY EDITOR, JUNE 2, 2005

Our firm wears two hats: investor and reporter. We recognize the potential conflict there, and in the interests of honesty we are laying out our internal policy for when the two jobs bump together. 1) We don't tout companies we... more

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