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 21-July-16 BY BLAKE MOSSY, JULY 21, 2016

EARNINGS
IMPLANET reported financial results for 2Q:16. Total revenue was €2.1 million ($2.3 million) in 2Q:16, increasing 23% compared to €1.7 million ($1.9 million) in 2Q:15. The company's Spine revenue was €2.0 million ($2.2 million) in 2Q:16, increasing 38% compared to €1.5 million ($1.6 million) in 2Q:15. Total revenues from the company's core spinal implant, JAZZ, increased 100% and 35% in the U.S. and France in 2Q:16 respectively. The company's Knee & Arthroscopy revenue was €2.2 million ($2.3 million) in 2Q:16, increasing 12% compared to €1.9 million ($2.1 million) in 2Q:15. All growth rates are on a reported basis.

Life Spine reported financial results for 2Q:16 and 1H:16. Total revenues in 2Q:16 increased by 50% compared to 2Q:12. Total revenues for 1H:16 grew by 44% compared to 1H:15. All growth rates are on a reported basis.

Medicrea reported financial results for 1H:16. Total revenue was €14.8 million ($16.4 million) in 1H:16, increasing 7% from €13.8 million ($15.3 million) in 1H:15. The company sales in the United states and France grew 8% and 20% respectively. The company has seen progress slow down in countries where they are not present directly or are currently suffering fluctuations in economic conditions, notably, Brazil. Management intends to implement various strategic initiatives in these territories to strengthen the company's commercial position. All growth rates are on a reported basis.

Safe Orthopaedics reported financial results for 2Q:16. Total adjusted revenue for 2Q:16 was €0.64 million ($0.71 million), increasing 29% from €0.50 million ($0.55 million) in 2Q:15. Total revenue from the company's operations in France and the rest of the world (ROW) increased 18% and 40% respectively. The company is in the process of expanding its international distribution network by entering into additional agreements covering Australia, New Zealand and Chile and Mexico. All growth rates are on a reported basis.

M&A
Merit Medical Systems entered into an agreement to acquire DFINE, Inc., a California-based developer of minimally invasive implant systems to treat pathologies of the vertebrae, metastatic spinal tumors, and vertebral compression fractures (VCFs). The transaction price was approximately $97.5 million, which values DFINE at 2.9x 2015 revenues of $33.4 million. Under the terms of the all-cash transaction, DFINE will become a wholly-owned subsidiary of Merit. Wells Fargo, Bank of America, HSBC and U.S. Bank all provided financing to the deal.

Zimmer Biomet acquired a 59% stake in Medtech Société Anonyme, a French-based company that develops surgical robotic technologies to assist surgeons during medico-surgical interventions. The transaction values the business at an approximate enterprise value of $123.5 million, or 9.9x LTM revenues of $12.5 million. Under the terms of the transaction, Zimmer will acquire 1,406,151 common shares from Mr. Bertin Nahum, the present CEO of Medtech, Newfund and certain other selling stockholders for €50.00 ($55.15) a share. Medtech offers its ROSA Spine robotic-assistive system, indicated for minimally invasive surgery (MIS) of the brain and spine. Zimmer plans to launch an all-cash simplified tender offer to acquire the remaining outstanding shares of Medtech for the same offer price of €50.00 ($55.15) a share in the near future.

REGULATORY
Medtronic received510(k) clearance from the FDA for its CD Horizon Fenestrated Screw Set, polymethylmethacrylate (PMMA) cement-augmented pedicle screws intended for the treatment of patients diagnosed with advanced stage tumors in the thoraric and lumbar spine. The self-curing cement is injected to the fenestrations near the end of the screw, allowing for precise cement injection, allowing immediate implant stability.

NeuroPro Spinal Jaxx received 510(k) clearance from the FDA for its Spinal Jaxs, a minimally-invasive, patient-specific expandable intervertebral spacer for spinal procedures. The spacer allows surgeons to insert as much bone graft as needed after the device has been implanted and expanded. Spinal Jaxx features a locking mechanism to prevent device collapse and titanium endplates that contract the vertebral bodies.

PRODUCT INTRODUCTION & UPDATE
DePuy Synthes Trauma launched its Variable Angle Locking Hand System, an anatomically contoured and low-profile plating system for the treatment of hand fractures and deformity correction. The technology allows for patient-specific adjustment and as the screws are tightened to the plate, they lock into place, stabilizing the fracture.

Medtronic launched its Pivox Oblique Lateral Spinal System with Lateral Plate for OLIF25 and Divergence-L Anterior/Oblique Lumbar Fusion System for OLIF51, an interbody fusion system which aims to stabilize the back by fusing two or more vertebrae with bone grafts. Oblique Lateral Interbody Fusion (OLIF) technique intends to minimize cutting the muscles and by utilizing an oblique-lateral trajectory to access multiple levels of the lumbar spine. The system gives surgeons lateral access and direct visualization while preserving the psoas muscle, disc space and anterior longitudinal ligament.

Stryker Performance Solutions launched its Episode Performance Manager (EPM), a tool that translates raw claims data, provided by Medicare, into data that helps understand cost-drivers, identify opportunities for improvement and compare performance of other hospitals participating in Medicare's Comprehensive Care for Joint Replacement (CJR) model. The tool aims to reduce hospital costs by establishing incentives and accountability, increase patient satisfaction 90 days after discharge and aligning providers and hospitals around shared goals.

CLINICAL
Extremity Medical completed initial cases for its AlignX Ankle Fusion System, intended to facilitate arthrodesis of the ankle including tibiotalocalacaneal and tibiotalar joints. The system aims to provide minimal bone preparation, strong axial compression, and rigid fixation. The initial cases received positive feedback and show advancements in biomechanical and OR efficiencies.

IlluminOss Medical completed enrollment in its Photodynamic Bone Stabilization System clinical trial for the treatment of fractures using patient-specific intramedullary implants. The trial has thirteen surgical sites and 80 patients with impending or pathologic fractures in the humerus from metastatic carcinoma. The minimally invasive procedure inserts a light-curable polymer, contained by a thin walled PET balloon catheter into the intramedullary canal to conform to the shape of the patient's specific bone, providing longitudinal strength and rotational stability.

Mazor Robotics announced clinical results using its Robotic Surgical Guidance System. The retrospective study results suggest that the use of robotic guidance in minimally invasive (MIS) approach can notably reduce procedural complications and revisions surgeries in comparison to freehand guidance.

Email this to a colleague: