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Orthopedic and Dental Industry News Complete Archive »

Orthopedic News Roundup 14-Sept-06 BY HUYEN NGUYEN, SEPTEMBER 14, 2006

Appointment: Orthovita, Inc. has appointed Albert J. Pavucek, Jr. Vice President Corporate Controller. Mr. Pavucek was with PDI, Inc. serving as Vice President, Finance and Operations.

Awards & Recognition: Smith & Nephew plc announced that two of its products, the CALAXO Osteoconductive Interference Screw and the VERSAJET, were recognized by the Wall Street Journal's 2006 Technology Innovation Awards. BioMimetic Therapeutics, Inc. announced that a publication by Dr. Samuel E. Lynch, President & CEO, among others, will be honored by the American Academy of Periodontology (AAP) at the 92nd Annual Meeting of the American Academy of Periodontology in San Diego, CA (Sept. 16, 2006).

Clinical Update: Medtronic announced in a study published in The Journal of Bone and Joint Surgery (June 2006) that its INFUSE® Bone Graft helped patients with severe tibial trauma heal sooner and reduced the need for a follow-up bone graft to treat a delayed mending of the treated bones. Results also showed patients who received INFUSE Bone Graft also had a significantly lower rate of post-operative infection and were able to place load-bearing weight on their injured legs faster than those who did not receive INFUSE Bone Graft. Clearant, Inc. announced at the American Association of Tissue Banks (AATB) Annual Meeting in San Diego (Sept. 12, 2006) that results of a new study showed that allograft implants sterilized by the Clearant® Process achieved full recovery of range of motion at one year, equivalent to the results at 24 months for a control group of patients receiving conventional, non-sterilized tissue.

Distribution Agreement Update: Regeneration Technologies (RTI) announced it amended a prior distribution agreement with its largest distributor, Medtronic Sofamor Danek USA, Inc. (MSD), regarding domestic spinal allograft distribution. Prior contractual agreements with MSD prevented RTI from distributing its allograft spinal implants in the U.S. through other channels. According to the Company, the buyout of the exclusivity agreement cost $3 million. This is another step forward in RTI's transition from an OEM to a full-service orthopedic device manufacturing and distribution company.

Earnings: Osiris Therapeutics, Inc. reported 2Q:06 total sales of $1.7 million. The Company reported net loss of $11.6 million, or a loss of $1.27 per diluted share, compared to a loss of $3.4 million in 2Q:05. The increase in net loss from the prior year was due to expenses from the advancement of clinical programs, additional personnel and related costs to support growth, and preparation for the initial public offering (IPO). During the quarter, its Osteocel® grew 55% from the first quarter to $1.7 million. Its cash and short-term investments at the end of the quarter were $28.6 million.

Licensing & Development Agreement: Affinergy, Inc. and Synthes have entered into a multi-year development and license agreement to work exclusively on multiple product applications across the Spine, Trauma and Craniomaxillofacial markets.

Mergers & Acquisitions: BioLok International Inc. and HealthpointCapital announced that the boards of directors of both companies have unanimously approved a definitive agreement whereby HealthpointCapital will acquire BioLok for $2.15 per share in cash for a total of approximately $35 million. Holders of a majority of BioLok's shares have already agreed to tender their shares and the acquisition is expected to be completed by November 2006. Orchid Orthopedic Solutions has acquired MACDEE, Inc., a privately held provider of precision machined and molded plastic products to the Orthopedic Industry. Orchid Orthopedic is a contract manufacturing company servicing orthopedic implant companies.

Operational Update: NuVasive, Inc. announced the opening of its recently acquired 100,000 square-foot warehouse and distribution facility in Memphis, Tennessee. This location strategically places the Company near the Federal Express worldwide distribution center, enhancing the Company's efficiency and responsiveness to customers. This facility also provides ample working space for the processing of inventory and instruments.

Product Introduction & Update: Invibio® announced the launch of its ENDOLIGN™ composite, a new biocompatible carbon fiber-reinforced thermoplastic material for use in implantable load bearing medical device applications requiring blood, bone or tissue contact of more than 30 days. By combining high levels of continuous carbon fibers with a PEEK-OPTIMA® polymer matrix in the form of a pre-impregnated tape, this tape can then be molded into rods or other forms. This ENDOLIGN™ composite and process offers the first non-metallic biomaterial available for medical implants providing the high strength of metals combined with the extensive biocompatibility and imaging compatibility of polymers. Zimmer Holdings, Inc. announced it plans to launch its Universal Locking System at the upcoming Orthopaedic Trauma Association meeting in Phoenix, Arizona (Oct. 5-7, 2006). The new technology is designed to improve treatment of high energy fractures and fractures in osteoporotic patients. The Company has begun its U.S. roll-out and will follow with worldwide distribution expected to be completed later this year. The Universal Locking Plate technology was developed by Swiss Orthopaedic Solutions (SOS), a privately held Pennsylvania company. Zimmer acquired distribution rights to the technology in 2004.

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