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Orthopedic and Dental Industry News

October 2009

Musculoskeletal News Roundup 29-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 30, 2009

Earnings Anika Therapeutics reported 3Q:09 revenues of $10.1 million, representing an 18% increase over the year-ago period and missing estimates by $0.3 million. Joint Health sales, including the Orthovisc and Monovisc products, were up 31% to $6.1 million. Anika noted... more

Alphatec Spine to Host Investor Community Breakfast During the North American Spine Society Annual Meeting BY EDITOR, OCTOBER 30, 2009

Alphatec Holdings, Inc. (Nasdaq:ATEC - News), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the... more

Stryker Biotech Indicted Over OP-1 Marketing BY LAUREN UZDIENSKI, OCTOBER 28, 2009

Stryker Biotech is facing a federal indictment after a long investigation into its sales of OP-1 (BMP-7), which was approved by the FDA under an HDE. An HDE stipulates that a device will be used in less than 4,000 patients... more

House Healthcare Reform Bill to Include Device Tax; Senate Rumored to Lower Fees BY LAUREN UZDIENSKI, OCTOBER 27, 2009

Few details have been released from the House's healthcare overhaul legislation, but yesterday the Wall Street Journal reported that the House would offset reform costs by charging an excise tax on medical devices. The tax would be expected to raise... more

Mazor Surgical Technologies Raises $13M in Public Offering BY LAUREN UZDIENSKI, OCTOBER 26, 2009

Israel-based Mazor Surgical Technologies has raised NIS 48 million ($13 million) in shares and warrants in a public offering that closed this week. Total proceeds include funding from an institutional offering to Yorkville Advisors LLC, which was announced last week... more

Physicians Fail to Disclose $4 Million in Industry Payments BY LAUREN UZDIENSKI, OCTOBER 23, 2009

The New England Journal of Medicine published a report earlier this month self-disclosure of industry payments among orthopedists. The study population was physicians presenting or serving as committee or board members during the 2008 AAOS annual meeting, where about 21%... more

Musculoskeletal News Roundup 22-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 22, 2009

Earnings CONMED reported 3Q:09 sales of $175.5 million, down 2% from the year-ago period and beating estimates by $1.4 million. Arthroscopy sales were up 2% and powered instrument sales were flat. Non-GAAP diluted EPS of $0.28 beat estimates by $0.12.... more

Biomet Acquires Cartilix BY LAUREN UZDIENSKI, OCTOBER 20, 2009

Biomet has acquired the assets of Cartilix for an undisclosed sum. The target company is developing ChonDux, a new technology that uses a biological adhesive and hydrogel to fill lesions in the articular cartilage. Previous investors in the company include... more

Senate Bill would Block Medicare Pay Cuts to Doctors BY LAUREN UZDIENSKI, OCTOBER 19, 2009

Sen. Debbie Stabenow (D-Mich.) introduced a bill last week that would block a 21% cut to physicians' Medicare pay. For the past several years, Congress has passed a one-year patch on scheduled pay cuts; the Stabenow bill would be a... more

NASS Responds to NEJM Vertebroplasty Studies BY LAUREN UZDIENSKI, OCTOBER 16, 2009

In August, the New England Journal of Medicine published two studies challenging the efficacy of vertebroplasty, results that came much to the surprise of both physicians and the industry. These studies were unique in that they were randomized, controlled and... more

Musculoskeletal News Roundup 15-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 15, 2009

Earnings Biomet reported FQ1:10 revenues of $630.0 million, a 7% increase over the year-ago period. Excluding dental, recon sales increased by 9%, with knee up 10%, hip up 6% and extremity up 23%. Dental decreased by 5%. All rates exclude... more

BMTI Study Shows Non-Inferiority for Augment Bone Graft BY LAUREN UZDIENSKI, OCTOBER 14, 2009

Yesterday BioMimetic Therapeutics released positive results from its North American pivotal study of Augment bone graft, the company's fully-synthetic, PDGF-derived PMA candidate. On a modified intent-to-treat basis, Augment achieved its primary endpoint of non-inferiority to autograft in attaining foot and... more

Senate Finance Committee Panel Votes in Favor of Baucus Plan BY LAUREN UZDIENSKI, OCTOBER 13, 2009

A Senate Finance Committee panel voted 14-9 today in favor of healthcare reform legislation. Senator Olympia Snowe was the only Republican on the panel to support the bill, which will proceed to a chamber-wide floor debate later this month. While... more

Biomet Reports Strong Sales in FQ1 BY LAUREN UZDIENSKI, OCTOBER 12, 2009

Biomet reported a strong FQ1:10 on Friday, kicking off earnings season on a positive note. For the quarter ended Aug. 31, the company reported $630 million in revenues, a 7% increase on a constant-currency basis. U.S. sales grew by 9%.... more

Musculoskeletal News Roundup 8-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 8, 2009

Earnings TranS1 pre-announced 3Q:09 revenues, saying sales for the quarter would be in the range of $6.8 to $6.9 million. This represents a 15% increase over year-ago sales, though it is below 3Q:09 guidance of $7.4 to $7.9 million. Analysts... more

ChrondroCelect Receives First-of-Its-Kind EU Market Clearance BY LAUREN UZDIENSKI, OCTOBER 8, 2009

TiGenix announced that ChondroCelect, its ACI treatment for cartilage regeneration, has been cleared by the European Commission for sale on the EU market. This is the first product to be approved in the EU as an advanced therapy medicinal product,... more

Vertebron Assets Auctioned Off BY JOHN MCCORMICK, OCTOBER 7, 2009

Yesterday, Beverly Hills based Cardo Medical, Inc. announced that it had acquired the assets of Vertebron out of bankruptcy. Cardo Medical is a small, bulletin-board-traded orthopedics company that focuses on reconstructive (e.g. Align 360 Unicompartmental Knee System) and a several... more

Device Fee Negotiations Continue as AdvaMed Counter-offers BY LAUREN UZDIENSKI, OCTOBER 5, 2009

The Wall Street Journal reported this morning that AdvaMed made a $15 billion counter-offer to reduce the impact of Sen. Max Baucus' healthcare reform bill on the device industry. The Senator reportedly said the offer was too low, and the... more

Musculoskeletal News Roundup 1-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 1, 2009

Earnings MEDICREA reported revenues of EUR 6.1 million ($8.6 million) in 1H:09, representing a 32% increase over 1H:08, which the company attributed to growth in sales from direct subsidiaries, primarily in the United States. Net loss was EUR 1.5 million... more

Scient’x Announces Strategic Alliance In Dynamic Fusion with Allegheny General Hospital BY EDITOR, OCTOBER 1, 2009

GUYANCOURT, France & PITTSBURGH--(BUSINESS WIRE)--Scient’x Group S.A.S. (Scient’x), the worldwide leader in providing dynamic solutions for both fusion and non-fusion* procedures for the spine, today announced a strategic alliance with Allegheny General Hospital (AGH) in Pittsburgh, PA that will include... more

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