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Orthopedic and Dental Industry News

July 2006

Wright's Sales Growth Driven By Hip & Extremities Sectors BY HUYEN NGUYEN, JULY 31, 2006

Wright Medical Group reported 2Q:06 net sales of $87.5 million, a 6% increase over 2Q:05 (foreign currency had no material impact on sales). Net income for the quarter was $2.8 million, or a diluted EPS of $0.08, beating analysts' estimates... more

Smith & Nephew Reveals Subject of DOJ Investigation BY ARIELLA P. GOLOMB, MD, JULY 31, 2006

DOJ Investigation Smith & Nephew PLC announced this morning that an internal investigation prompted by last month's DOJ subpoena revealed that an independent orthopedic sales representative under contract to the Company sent an email on October 28, 2005 to competitors.... more

Kyphon's Growth Continues BY DAVID KRESSEL, JULY 28, 2006

Kyphon (KYPH) reported a strong 2nd Quarter this week. Quarterly revenue broke the $100m mark, and at $101m, handily beat analysts' estimates of $98.6m. Overall, revenue was up 35% compared to the year ago period, with domestic revenue up 28%... more

LifeCell Reports Record 2Q:06 Earnings, Citing Growth of AlloDerm Sales BY TODD BARTELS, JULY 28, 2006

LifeCell Corporation, a maker of regenerative human tissue products, yesterday reported record 2Q:06 financial results. Product revenues were $35.7 million for the quarter, up 60% from the $22.3 million reported in 2Q:05. Growth in product revenues can be attributed to... more

Orthopedic News Roundup 27-Jul-06 BY HUYEN NGUYEN, JULY 27, 2006

Earnings Results: Biologics: Anika Therapeutics announced 2Q:06 net sales increased 11% to $7.1 million. Product revenues grew 74% while licensing, milestone and contract revenue was down 77%. The large product sales growth was partially driven by higher demand for OrthoVisc®;... more

Zimmer Provides More Info: DOJ Investigating Price-Fixing BY ARIELLA P. GOLOMB, MD, JULY 27, 2006

In yesterday's quarterly report press release Zimmer shared more information on the nature of the recent DOJ investigations into the Orthopedics Industry. The ongoing investigation is related to a price-fixing scheme, initiated by one of Zimmer's competitors at a specific... more

Will Landis's Next Victory Be a Win For The Orthopedics Sector? BY ARIELLA P. GOLOMB, MD, JULY 26, 2006

Last Sunday, Floyd Landis won the Tour de France. Although this victory has been called into question today by doping allegations, his next big battle is going to be tackling the avascular necrosis in his right hip caused by a... more

Health Care IT: Will The Potential Be Realized? BY NICK ADAM, JULY 26, 2006

Investments in health information technology (HIT) are slowly growing as hospitals, spurred on by the possibility of cost and quality of care benefits, increasingly incorporate HIT into daily use. HIT may very well come to play a large role in... more

Anika Therapeutics Reports Strong OrthoVisc Sales Growth BY HUYEN NGUYEN, JULY 25, 2006

This morning, Anika Therapeutics reported 2Q:06 sales of $7.1 million, or an increase of 74% over 2Q:05. This large sales growth was partially driven by higher demand for OrthoVisc®, its hyaluronan viscosupplementation device. Licensing and contract revenues were down significantly... more

Stryker Reports 2Q:06 Earnings, States DOJ Probe Narrowed BY ARIELLA P. GOLOMB, MD, JULY 24, 2006

Thursday, Stryker Corporation reported its 2Q:06 operating results. Net sales increased 9.0% to $1.33 billion, slightly below analysts' expectations of $1.34 billion. Operating income rose 16% and net income more than 20%. Diluted EPS for 2Q:06 increased 20.9% to $0.52,... more

CMS To Revise Inpatient Prospective Payment System (IPPS) BY NICK ADAM, JULY 22, 2006

The Centers for Medicare & Medicaid Services (CMS) will make its final ruling on the proposed changes to the Inpatient Prospective Payment System (IPPS) on August 1st, 2006. The proposed changes, to be implemented by FY 2008, are the first... more

Orthopedic News Roundup 20-Jul-06 BY HUYEN NGUYEN, JULY 20, 2006

Appointment: AxioMed® Spine Corporation promoted James Kuras to Chief Operating Officer. Previously, he was a Senior Vice President and Chief Technology Officer of the Company. VQ OrthoCare hired Dan Johnson as Vice President of Reimbursement. Formerly, he was with Apria... more

2Q:06 Earnings Conf. Calls & Webcast BY HUYEN NGUYEN, JULY 19, 2006

Below is the table of company earnings conference calls and webcasts for the investment community (replay info. also available). Mark your calendar for next week when most companies will be reporting. Company Ticker Symbol ConferenceCall Date/Time Dial-in Number /Passcode -... more

Medtronic Settles with DOJ on Kickbacks for $40 Million BY DAVID KRESSEL, JULY 18, 2006

Medtronic announced yesterday that it has settled with the Department of Justice regarding a qui tam lawsuit related to sales and marketing practices in its Spine group, particularly kickbacks to surgeons. Qui tam lawsuits are better known as whistleblower suits.... more

DePuy (JNJ) Reports 2Q:06 Earnings BY ARIELLA P. GOLOMB, MD, JULY 18, 2006

Today Johnson & Johnson announced record sales of $13.4 billion for 2Q:06, an increase of 4.7% compared to 2Q:05, and slightly higher than analysts' $13.13 billion expectations. DePuy, Inc., one of the overall family of J&J companies, experienced a reported... more

Controversy over Potential Kickbacks to Hospital Execs BY TODD BARTELS, JULY 18, 2006

An article in yesterday's New York Times provides a useful summation of the kickback controversy surrounding the Healthcare Research and Development Institute, or H.R.D.I., a for-profit consulting firm owned by about three dozen hospital executives that advises pharmaceutical, medical device,... more

AOFAS Annual Meeting Highlights BY ARIELLA P. GOLOMB, MD, JULY 17, 2006

This past weekend we attended the 22nd Annual Summer Meeting of the American Orthopaedic Foot & Ankle Society in La Jolla (AOFAS). The conference ran from July 14-16, 2006 at the Hilton Torrey Pines Hotel and there were approximately 400... more

Medical Device Reprocessing Debate BY NICK ADAM, JULY 12, 2006

Recently, the debate between Third-Party Reprocessors (TPRs) and Original Equipment Manufacturers (OEMs) has spread to the legislature of the state of Massachusetts. A proposed bill, Senate No. 2433, would require: -A patient to provide written consent prior to undergoing a... more

Orthopedic News Roundup 12-Jul-06 BY HUYEN NGUYEN, JULY 12, 2006

Appointment: Biomet, Inc. appointed Charles E. Niemier as President of EBI's operations following the resignation of its former president, Bart J. Doedens, M.D. Mr. Niemier has been a member of the senior management team and Board of Directors for more... more

More Change at Biomet BY JOHN CHOPACK, JULY 12, 2006

It has been quite a year for Biomet and it doesn't seem be settling down. The Company announced on Wednesday that it had named Charles Niemier as President of its EBI Spine Division. Mr. Niemier will replace Bart Doedens who... more

AdvaMed Code of Ethics Adherents Get New Logo BY DAVID KRESSEL, JULY 11, 2006

Late last month, AdvaMed created a logo licensing program for the AdvaMed Code of Ethics. For $300 per year, companies can license this logo which shows they have signed and comply with the Code. In particular, the logo can be... more

Smith & Nephew Acquires Osteobiologics BY ARIELLA P. GOLOMB, MD, JULY 11, 2006

Smith & Nephew plc (SNN) announced today that it has acquired Osteobiologics (OBI) for a net consideration of $72.3m in cash, representing ~20x OBI's 2005 revenues of $3.3m. The acquisition is expected to reduce SNN's earnings by $7m in the... more

FDA Grants IDE For Medtronic's DIAM(TM) Spinal Stabilization System BY ARIELLA P. GOLOMB, MD, JULY 10, 2006

Medtronic, Inc. announced today that the FDA granted an investigational device exemption (IDE) to the DIAM(TM) Spinal Stabilization System for use in a clinical safety and effectiveness study. The DIAM System will be measured against posterior lumbar interbody fusion, the... more

Tutogen Reports 2Q:06 Financials BY HUYEN NGUYEN, JULY 7, 2006

Tutogen Medical ("TTG") reported 2Q:06 (ending March 31, 2006) revenue increased 21% during the 2Q:06 to $9.1 million and net income for the quarter totaled $22,000 compared to a net loss of $1.1 million last year. During the quarter, TTG's... more

India's New Medical Device Regulations And Proposed Price Controls BY ARIELLA P. GOLOMB, MD, JULY 7, 2006

In-Pharma reported on Tuesday, that new Central Drugs Standard Control Organization (CDSCO) guidelines came into effect on June 29, 2006. These guidelines will regulate the import, manufacture and sale of sterile devices in India, including bone cements and orthopedic... more

Orthopedic News Roundup 6-Jul-06 BY HUYEN NGUYEN, JULY 6, 2006

Appointments: Tutogen Medical appointed Dr. Karl Koschatzky to the position of Managing Director. Dr. Koschatzky will replace Manfred Kruger, who was Tutogen's President of International operations and Managing Director of the German subsidiary. IsoTis OrthoBiologics appointed James William (Jim) Poser,... more

Zimmer Gains FDA Approval For Ceramic Hip BY ARIELLA P. GOLOMB, MD, JULY 6, 2006

Zimmer announced today that it received FDA approval of its Premarket Approval Application (PMA) to market the Trilogy AB® Ceramic-on-Ceramic Acetabular System. Zimmer originally submitted its request for approval to market the Trilogy AB products in December 2004. The product... more

Applauding Non-Profit Orthopedic Organizations BY NICK ADAM, JULY 5, 2006

We applaud the work of the non-profit orthopedic organizations bringing aid and modern orthopedic surgery to developing nations. Earlier this year one such organization, CURE International, was awarded the AFYA East Africa Award for Excellence and Innovation in Child Healthcare. more

Private Equity Firm to Buy Encore for $870mm BY JOHN MCCORMICK, JULY 3, 2006

After the market close on Friday, a unit of the mega-sized private equity firm Blackstone Group (not to be confused with the spine company) offered Encore Medical Corporation shareholders a 36% premium to take the company private. The enterprise valuation... more

Complete Archive