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Orthopedic and Dental Industry News Complete Archive »

Musculoskeletal News Roundup 26-Apr-12 BY LAUREN UZDIENSKI, APRIL 26, 2012

Earnings
CONMED reported 1Q:12 revenues of $194.3 million, up 5% over the year-ago period and up 2% organically. Among segments, arthroscopy sales increased by 14%; powered surgical instruments increased by 1%; electrosurgery sales declined by 5%; endoscopic technologies increased by 8%; and endosurgery increased by 1%. Growth rates exclude the effects of currency. Adjusted diluted earnings per share grew by 16% to $0.43, missing estimates by a penny.

Integra LifeSciences reported 1Q:12 revenues of $196.2 million, up 9% over 1Q:11 and beating estimates by $3.7 million. Orthopedics sales increased by 19% to $86.2 million. Adjusted net income for the quarter was $20.2 million, or $0.71 per diluted share. Analysts had forecast EPS of $0.60.

Orthofix reported 1Q:12 revenues of $143.1 million, up 4% over the year-ago period and missing estimates by $0.3 million. Among segments, spine sales increased by 3%; orthopedics sales increased by 4%; and sports medicine sales increased by 10%. Growth rates exclude the effects of currency. Adjusted net income for the quarter was $13.2 million, or $0.69 per diluted share compared. EPS beat estimates by $0.03.

RTI Biologics reported 1Q:12 revenues of $43.7 million, up 8% over the year-ago period and beating estimates by $1.8 million. The company attributes sales growth to performance in their direct sports medicine and bone graft substitutes/general orthopedics (BGS/GO) businesses, as well their dental business. Sports medicine sales increased by 15%, BGS/GO sales increased by 15% and dental sales increased by 30%. EPS for the quarter was $0.04, beating estimates by a penny.

Synthes reported 1Q:12 sales of $997.5 million, up 2% over the year-ago period. North American sales declined by 2% during 1Q:12, which the company attributed to ongoing weak economic conditions and an unusually mild winter slowing trauma procedures. European sales increased by 4% during the quarter, which Synthes said was due to "innovative new products and quality service commitments" despite ongoing economic issues and the mild winter. In other markets, Asia Pacific sales increased by 9%, and ROW increased by 22%, which the company attributed to strong performances in Latin America and the first delivery of a tender order from the Middle East. Growth rates exclude the effects of currency.

Zimmer reported 1Q:12 sales of $1.1 billion, up 3% over the year-ago period and beating estimates by $4.4 million. Recon sales increased by 3%, with knee up 2%, hip up 2% and extremity up 5%. Further, dental sales declined by 2%; trauma increased by 8%; and spine declined by 6%. Growth rates exclude the effects of currency. Adjusted EPS was $1.30 for the quarter, up 9% over the year-ago period and in line with estimates.

M&A
Orthofix announced plans to divest their Breg sports medicine (bracing) division to support their focus on their spine, biologics and bone stimulation segments. Private equity firm Water Street Healthcare Partners will acquire the division for $157.5 million in cash, which is about 1.5x Breg's 2011 sales. The transaction is expected to close in 2Q:12.

German company RIEMSER Arzneimittel announced that they will acquire 49% of anwerina AG. According to the press release, anwerina focuses on metabolic bone diseases, cartilage replacement therapy and the minimally-invasive surgical treatment of vertebral compression fractures. anwerina operates in Germany, Austria and Switzerland and is based in Mannheim. RIEMSER says the deal "[strengthens] its position as an international specialty pharmaceutical company focusing on high growth potential niche segments for high medical need."

Regulatory
LDR received 510(k) clearance to market the ROI-C Lordotic Cervical Cage, a stand-alone cage that can be used with the company's VerteBRIDGEplating technology. LDR says the design of the ROI-C Lordotic Cervical Cage "provides an additional option during surgery allowing surgeons to treat patients with more varied anatomy" and may help prevent dysphagia post-operatively.

OrthoHelix Surgical Designs received 510(k) clearance to market the Mini MTP Plates for use in foot procedures. The company says the Mini MTP Plates are an extension of the Mini MaxLock Extreme Plate and Screw system, which is intended for smaller patient anatomies.

Product Introduction & Update
Smith & Nephew launched the HEALICOIL PK suture anchor, which the company says differs from traditional solid-core anchors used in rotator cuff repair in that the HEALICOIL PK eliminates the anchor's inner diameter material. The company says this design "provides significantly more thread engagement and greater pullout strength than its competitors ... even in poor-quality, osteoporotic bone."

ulrich medical USA released the Omni VBR Implant System, a titanium vertebral body replacement device intended for use in the thoracic and lumbar spine (T1-L5) to replace a collapsed, damaged or unstable vertebral body due to tumor or trauma.

Operations
Bloomberg reports that Smith & Nephew is planning to move some of its manufacturing operations to Suzhou, China from Hull, England. The transition to the Suzhou facility, which is expected to lead to the loss of at least 40 jobs in Hull, is scheduled to be completed by mid-2013.

SurgLine International announced the creation of wholly-owned subsidiary SurgLine MDC, which will "form joint-venture opportunities with spine surgeons and other orthopedic surgeons in markets around the country." These joint ventures will be focused on "achieving cost containment of surgical implants in the operating room for hospitals and acute surgery centers." These joint ventures will be structured whereby SMDC will own a minimum of 60% of each operating entity and participating surgeons will own up to 40% of the operating entity.

Appointments
LDR named Robert E. McNamara as Chief Financial Officer, effective April 23, 2012. Mr. McNamara's previous roles include CFO of Purfresh, Inc. and CFO of Accuray, Inc. Dennis Hynson, who previously held the position of CFO, will remain with the company as Senior Vice President Global Finance.

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