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Orthopedic and Dental Industry News Complete Archive »

Musculoskeletal News Roundup 22-May-15 BY MATTHEW JAFFE, MAY 22, 2015

Earnings
Orthofix International reported financial results for 1Q:15. Net sales were $89.8 million in 1Q:15, slightly beating consensus estimates and representing a decrease of 7% compared to $100.0 million in 1Q:14. Gross margin for 1Q:15 increased to 78.5%, from 73.2% in 1Q:14. Adjusted EBITDA in 1Q:15 was $8.4 million compared to $14.9 million in 1Q:14. Adjusted EBITDA margin in 1Q:15 was 9.4% compared 14.9% in 1Q:14. The company's segments grew by: Biostim +2%, Biologics +7%, Extremity Fixation (9%) and Spine Fixation (28%) in 1Q:15 respectively. All growth rates are on a constant currency basis.

Victrex reported financial results for its first half 2015. The company's Invibio revenues were £25.9 million ($39.7 million) in 1H:15, representing no change on a constant currency basis compared to £26.9 million ($44.0 million) in 1H:14. Gross margin for 1H:15 was 88.4% compared to 87.7% in 1H:14 Victrex reported spine sales in 1H:15 were £19.2 million ($31.1 million), a decrease of 5% on a reported basis compared to 1H:14.

Funding
OrthoSpace Ltd. announced the completion of a financing transaction led by HealthpointCapital, LLC, which also includes existing investors Smith & Nephew and TriVentures. The proceeds from the transaction will facilitate the Company's continued market adoption, clinical study programs and entry into the emerging markets. The Company's flagship product, InSpace, is a disruptive technology for the treatment of severe rotator cuff tears. The terms of the transaction were not disclosed.

ConforMIS, Inc. filed an S-1 to raise up to $172.5 million through an initial public offering (IPO) of common shares. The price range and number of shares to be sold in the offering has not yet been determined. The company intends to use the proceeds to expand the company's manufacturing capacity, sales, research and development, clinical activities, and to fund working capital and general corporate purposes.

Regulatory
IMPLANET received FDA 510(k) clearance and CE mark certification for its 3.5mm, 4.0mm and 6mm Jazz rods, which are utilized in the treatment of adolescent scoliosis and degenerative spinal disorders in adults.

Product Introduction & Update
Emerging Implant Technologies announced the first implantation of a 3D printed, individualized cervical titanium implant. The devices is laser printed from titanium alloy powder in an open diamond pattern. It features a pore size that mimics bone structure and an osteoinductive surface texture.

Collaborations
Weigao Orthopaedic and Victrex are collaborating for Victrex to supply semi-rigid spinal rod formed from PEEK-OPTIMA for Weigao's Tulip spinal stabilization system. The polymer based rods restore lumbar stability and because of the nature of dynamic stabilization may decelerate degeneration of spinal discs at adjacent levels.

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