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Orthopedic and Dental Industry News

February 2006

Exactech Reports 4Q:05 and 2005 Financials BY JOHN CHOPACK, FEBRUARY 28, 2006

Exactech reported that 2005 revenues totaled $91 million which was an 11% increase over 2004 and in-line with analyst expectations. Revenues for the 4Q:05 increased by 10% over the 4Q:04, totaling $23 million. The Company posted $6.6 million, or $0.57... more

Encore Medical Reports 4Q:05 and 2005 Year-end Financials BY JOHN CHOPACK, FEBRUARY 27, 2006

Encore reported revenues of $75 million for the 4Q:05 which was a 10% increase over the 4Q:04 and slightly below analysts' expectations of $76 million. The 4Q:05 represented the first quarter in which comparative results for the Empi acquisition were... more

Acquisitions within the Orthopedic Industry Increase BY JOHN CHOPACK, FEBRUARY 27, 2006

dj Orthopedics announced that it had signed a definitive agreement to purchase Aircast Incorporated for $290 million in an all cash transaction. Aircast is a leading designer and manufacturer of ankle braces and vascular systems. Aircast booked $96.8 million in... more

New Report Now Available - Introductory Guide to Intellectual Property for Medical Devices BY EDITOR, FEBRUARY 24, 2006

February 2010 update: This report is no longer available for purchase. Learn more here. Dr. Gary Michelson knows his patent rights. Medtronic made him a billionaire for it. Knowing the rules of intellectual property is just as important for any... more

Free Sample Chapter: Introductory Guide to Intellectual Property for Medical Devices BY EDITOR, FEBRUARY 24, 2006

February 2010 update: This report is no longer available for purchase. Learn more here. The U.S. Patent Office Examination Process for Medical Devices This is a sample chapter from our "Introductory Guide to Intellectual Property for Medical Devices" report, available... more

Analyst Meetings during AAOS BY KAREN FEDER, FEBRUARY 23, 2006

Looking ahead to the AAOS 73rd Annual Meeting on March 22-26, 2006 taking place at the McCormick Place Convention Center in Chicago, we wanted to post the latest information on Company Analyst meetings that will be held in Chicago: -... more

Medtronic Reports 3Q:06 Financials: Earnings In-line BY JOHN CHOPACK, FEBRUARY 23, 2006

Medtronic reported that earnings totaled $670 million or $0.55 per diluted share which was in-line with analysts' expectations and represented a 22% increase over the 3Q:05. However, the Company's reported revenues for the 3Q:06, which totaled $2.77 billion was slightly... more

Orthopedic News Roundup 23-Feb-06 BY LAING RIKKERS, FEBRUARY 23, 2006

Financing: BioMimetic Therapeutics, Inc. filed a registration statement for an Initial Public Offering. Earnings: Medtronic 3Q Earnings climb 23 percent. CryoLife fourth quarter 2005 revenues increased 13% over fourth quarter 2004 Gross margins for full year 2005 increased to 53%... more

Spine Wave Announces Patient Enrollment of a Feasibility IDE Clinical Trial BY JOHN CHOPACK, FEBRUARY 21, 2006

Spine Wave announced that it has begun patient enrollment in a feasibility IDE clinical trial involving its NuCore™ Injectable Nucleus. The Company states that its device is the first injectable spinal nucleus device to be implanted into patients with an... more

CMS Proposes National Noncoverage of Charite BY DAVID KRESSEL, FEBRUARY 17, 2006

The Centers for Medicare and Medicaid Services published a Proposed Decision Memo for Lumbar Artificial Disc Replacement. Their conclusion: The Centers for Medicare and Medicaid Services (CMS) is seeking public comment on the proposed determination that the evidence is not... more

Orthopedic News Roundup 17-Feb-06 BY SHELLY ACHAIBAR, FEBRUARY 17, 2006

Financing: Spine Wave announced the completion of a new $36.5 million round of equity financing. The Series C round was led by existing investor New Enterprise Associates with new investor Foundation Medical Partners. Acologix, Inc announced the second closing of... more

Alan Milinazzo to Lead Orthofix BY JOHN MCCORMICK, FEBRUARY 16, 2006

Orthofix International, N.V. announced after the market close that Alan W. Milinazzo, the Company's Chief Operating Officer (COO), has been promoted to Group President and Chief Executive Officer (CEO) effective April 1. He will succeed Charles W. Federico, who will... more

Symmetry Reports its Numbers BY JOHN MCCORMICK, FEBRUARY 16, 2006

On Wednesday, Symmetry Medical reported its 2005 results and the Company is clearly growing. Highlights for 2005 include: revenues of $264 million which increased 28% compared to 2004 and operating income of $51 million which increased 35% compared to 2004.... more

Advanced Bio-Surfaces, Inc. (ABS) Receives First FDA Approval BY JOHN CHOPACK, FEBRUARY 15, 2006

ABS announced that it received 510(k) clearance to market its OrthoGlide Medial Knee Implant. The OrthoGlide implant is an innovative design composed of cobalt-chrome intended to replace some of the function of the cartilage which has deteriorated due to osteoarthritis.... more

Moratorium on Specialty Hospitals Continues BY DAVID KRESSEL, FEBRUARY 15, 2006

Since 2003, there has been a moratorium on new construction of physician-owned specialty hospitals. The ban was continued after its first 18 month term, and now it has been renewed for a second time. In the "Deficit Reduction" bill that... more

SG Cowen Drops Coverage of Encore Medical BY JOHN CHOPACK, FEBRUARY 14, 2006

Dhulsini de Zoysa of SG Cowen & Co discontinued coverage of Encore Medical because 80% of their revenues now come from the Company's "slower-growing Orthopedic Rehab franchise". She went on to state that "the company continues to focus on this... more

New CEO at ONI Medical Systems BY DAVID KRESSEL, FEBRUARY 13, 2006

Privately held ONI Medical Systems announced that Peter Pellerito will join as President and CEO. Peter's background is in ultrasound imaging, first at ATL, and then at GE Healthcare. At GE Healthcare he was most recently the VP and General... more

Polynovo Partnering with Medtronic BY SHELLY ACHAIBAR, FEBRUARY 13, 2006

Polynovo Biomaterials signed a partnering and licensing agreement with Medtronic for the development of a drug-eluting polymer stent to treat vascular diseases. Medtronic will hold equity in the company and pay royalties on the commercialization of the technology. PolyNovo Biomaterials... more

Medtronic Surpasses Milestone with TSRH Spinal Systems BY SHELLY ACHAIBAR, FEBRUARY 13, 2006

Medtronic announced today that the TSRH Spinal System implants have surpassed the 2.5 million mark worldwide. Medtronic in conjunction with the Scottish Rite Hospital (TSRH), one of the nation's leading pediatric centers for the treatment of orthopedic conditions, created the... more

Wright Medical's Forecast Disappoints BY DAVID KRESSEL, FEBRUARY 10, 2006

Last night Wright (WMGI) reported slightly better than expected results, but lowered 2006 guidance dramatically. Revenue guidance dropped modestly, but EPS guidance was knocked down substantially because Wright will increase investments in R&D and sales and marketing. 2006 Guidance, and... more

Smith & Nephew Reports 15% Growth in Orthopedics BY DAVID KRESSEL, FEBRUARY 10, 2006

Smith & Nephew reported results for 4Q05 and FY2005, and they were strong particularly within their Orthopedics segment. For the quarter, they saw 15% growth (ex F/X) in orthopedic sales to $1,267 million, which broke down as follows: *Knees: +12%... more

Orthopedic News Roundup 9-Feb-06 BY SHELLY ACHAIBAR, FEBRUARY 9, 2006

Appointment: Orthofix appoints two new executives, Dan Yarbrough as Director of Investor Relations and Keith Jansen as new VP of vascular business. Musculoskeletal Clinical Regulatory Advisors, LLC announced that Glenn A. Stiegman, III, has joined as Vice President, Regulatory Affairs.... more

Zimmer Wins Battle with HCA BY JOHN CHOPACK, FEBRUARY 8, 2006

Tuesday seemed to bring to an end a battle that has been brewing behind the scenes since early in the fall and began in the press a week ago. In the end, Zimmer hit HCA right between the eyes and... more

Tutogen Names New CFO BY DAVID KRESSEL, FEBRUARY 7, 2006

Tutogen Medical, a leading player in the allograft market, has named Robert Johnston to the post of CFO. Johnston joins Tutogen from Power Medical Interventions, where he was also CFO. He has been at a number of healthcare products companies... more

Orthopedic News Roundup 3-Feb-06 BY SHELLY ACHAIBAR, FEBRUARY 3, 2006

Appointment: Hanger appoints Jeff Martin as President of Subsidiary, Innovative Neurotronics, Inc. Clinical Update: Hanger Orthopedic gets FDA approval for its device targeting patients with foot drop. Study conducted with Arixtra administered the morning after orthopedic surgery prevented venous thromboembolism... more

Marketing at Academic Medical Centers under Attack BY LAING RIKKERS, FEBRUARY 2, 2006

Doctors pushed back against marketing and commercial pressures from the pharmaceutical and medical device industries last week. On January 25, the American Medical Association (JAMA) published "Health Industry Practices That Create Conflicts of Interest: A Policy Proposal for Academic Medical... more

NuVasive Prices Public Offering BY JOHN CHOPACK, FEBRUARY 2, 2006

NuVasive announced today that its public offering of 6.7 million new shares and 796,000 secondary shares priced today at $19.25. The gross amount of the offering totaled $144 million with $129 million net proceeds going to the Company. NuVasive's initial... more

Zimmer Beats the Street by $0.03 for the 4Q:05 BY JOHN CHOPACK, FEBRUARY 1, 2006

Zimmer reported adjusted earnings of $0.86 which was a 21% increase over the 4Q:04 and $0.03 higher than analyst expectations. Revenues totaled $848 million for the 4Q:05 which was a 9% increase on a constant currency basis. Hip and knee... more

Osteotech Hosts Webcast BY DAVID KRESSEL, FEBRUARY 1, 2006

This morning, Osteotech hosted a webcast to discuss its donor strategy and new product plans. It was the first major appearance by Sam Owusu-Akyaw as CEO. On the tissue donor side, there were two main points: *Their supply contract with... more


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