Conference Calendar

March 14-18 - American Association of Orthopaedic Medicine Annual Meeting 2017

March 14-December 31 - Canaccord Genuity Musculoskeletal Conference

Complete Calendar »

Earnings Calendar

No Upcoming Events Scheduled
Complete Calendar »

Read our research via:
email art

Weekly Email

rss art

RSS



app icon

iPhone

app store icon

Kindle



Orthopedic and Dental Industry News Complete Archive »

Musculoskeletal News Roundup 18-Feb-10 BY LAUREN UZDIENSKI, FEBRUARY 18, 2010

Earnings
DJO reported 4Q:09 revenues of $257.2 million, up 5% over 4Q:08, with domestic rehab sales up 3% and domestic surgical implant sales up 8%. The company attributed the latter largely to "strong sales of our Reverse Shoulder Prosthesis." Net loss for the quarter was $11.7 million, improved from a net loss of $38.4 million in 4Q:08. The loss was attributed to "non-recurring charges and other adjustments related to the DJO merger and certain other smaller acquisitions."

Orthofix reported 4Q:09 revenues of $144.0 million, up 7% over the year-ago period and beating estimates by $4.0 million. Spine sales increased by 13%, with spinal stimulation up 12% and implants and biologics up 15%. Additionally, orthopedic sales increased by 4%, and sports medicine sales were down by 6%. All growth rates exclude the effects of currency. Adjusted EPS for the quarter was $0.53, up 33% over 4Q:08 and beating estimates by $0.03.

Straumann reported 4Q:09 revenues of CHF 184.0 million ($171.7 million), down 1% over the year-ago period and missing estimates by CHF 4.0 million ($3.7 million). The company said that in 2009, low consumer confidence, rising unemployment and credit restrictions resulted in a 6% contraction of the overall dental implant market. The company does not release quarterly earnings data, though full-year net profit declined 19% to CHR 146.4 million ($136.1 million), missing estimates by CHF $5.6 million ($5.4 million.)

Synthes reported 4Q:09 revenues of $890.3 million, up 5% over the year-ago period and missing estimates by $21.5 million. By geography, North American sales increased 4%; Europe increased by 7%; Asia Pacific increased by 12% and ROW declined by 9%. All growth rates exclude the effects of currency. President and CEO Michael Orsinger said the company was "not satisfied" with top-line growth in 4Q:09, but that the sales growth rate was increasing in early 2010. He added that goals for 2010 included keeping the "innovation cycle high" and increasing sales-force effectiveness.

Wright Medical announced 4Q:09 revenues of $129.9 million, representing a 5% increase over 4Q:08 and beating estimates by $4.5 million. Among segments, hip increased by 3%; knee increased by 3%; extremity increased by 20% and biologics decreased by 3%. All growth rates exclude the effects of currency. Adjusted net income in 4Q:09 was $10.8 million, or $0.27 per share, down from $12.6 million, or $0.31 per share, in 4Q:08. Analysts had forecast EPS of $0.19.

Funding
Bacterin closed a $3.0 million private placement led by Middlebury Securities, LLC. Proceeds will be used to pay down debt, to "expand the company's sales and marketing effort" and for working capital.

Regulatory
BioMimetic Therapeutics submitted the clinical data module of its PMA application for Augment Bone Graft, which is the final component of the company's submission. The company submitted the pre-clinical pharmacology/toxicology and quality/manufacturing modules in 2009. The next step for the company is an FDA advisory panel, which is expected to be scheduled sometime later this year.

Kensey Nash received CE mark clearance for their Cartilage Repair Device, which the company describes as a biphasic, bioresorbable scaffold designed to regenerate hyaline cartilage. The device consists of a synthetic porous matrix that contains the company's proprietary collagen technology as well as beta-tricalcium phosphate.

Intellectual Property
Xylos Corporation received a U.S. patent covering "oxidation of biosynthesized cellulose using periodate," which the company will apply to the development of resorbable forms of its biocellulose-based material.

Clincal
Ranier initiated its Europe-based study of CAdisc- L at two centers, with three more centers to follow, with the intention of receiving CE mark clearance later this year. The CAdisc-L is made from polyurethane and is "designed to restore the full natural motion of the spine, to share the high loads encountered in the lumbar spine with adjacent tissues and to reduce patients’ pain."

Legal
A federal jury in Texas ordered Arthrex to pay Smith & Nephew $4.7 million in damages after determining that the Arthrex RetroButton infringed a patent covering Smith & Nephew's Endobutton, an ACL graft fixation device. Smith & Nephew will pursue an injunction to stop Arthrex from selling RetroButton. Arthex plans to appeal the ruling.

Distribution
curasan announced that they would sell their Cerasorb M Ortho synthetic bone graft substitute in the U.S. through a Massachusetts-based subsidiary. Cerasorb consists of a beta-tricalcium phosphate.

Stematix entered into a 10-year exclusive agreement with Buenos Aires-based Laboratorios Bago for the distribution of Stematix' orthopedic and cellular products, which are derived from adult stem cells. Per the agreement, the companies may also partner on clinical trials and product development. No financial terms were disclosed.

Operations
NovaBone relocated operations to "expanded and upgraded facilities" to meet increasing demand.

Appointments
SI-BONE, Inc. appointed Drs. Frank M. Phillips, Paul A. Anderson and Federico P. Girardi to their Medical Advisory Board. The company is developing a minimally-invasive surgical device to treat sacroiliac joint dysfunction.

Email this to a colleague: