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Orthopedic and Dental Industry News
February 2004
The 4Q:03 conference call offered the first glimpse into how Zimmer's (NYSE:ZMH) integration of Centerpulse was progressing. Ray Elliott, CEO of the “New Zimmer”, offered some insights. Zimmer currently has “100 fulltime employees managing 250 major integration projects and 1,700... more
Interpore Cross sold $44.6 million of spinal implants (not counting bone void fill) in 2003, a 21% increase over its level in 2002. Industry-wide, we estimate spinal implant sales rose 29% to $2.8 billion in 2003. Interpore's market share, we... more
Exactech reported that 2003 revenues totaled $71.3 million, an increase of 20% over 2002. Knee sales, which now total 57.4% of sales, increased by 23% to $41.3 million during the 4Q:02. Hips had a disappointing 2003, as they increased by... more
For the just completed quarter and year, Wright Medical (NASDAQ:WMGI) reported, we believe, the best quarter and year in orthopedics. First, Wright's seven year investment in the Investigational Device Exemption (IDE) ceramic-on-ceramic clinical hip trial delivered huge dividends in 2003.... more
Smith & Nephew (SNN) reported that revenues totaled $1.9 billion during 2003 which was an 11% increase in underlying sales over 2002. Underlying orthopedic revenues increased by 16% during 2003, totaling $867 million. The Orthopedic growth of 16% was 7%... more
This past Friday, dj Orthopedics announced that it plans to publicly offer 6,000,000 shares of its common stock. This comes quickly on the heels of a recent shelf registration announcement and statement filed with the SEC. The shelf registration is... more
Last week Regeneration Technologies (RTI), the third largest supplier of allograft products, reported that sales of allograft products to Medtronic Sofamor Danek (MSD) dropped 61% in the 4th quarter to $5.1 million. MSD is Regeneration's largest customer accounting for 60%... more
Despite dj Orthopedics' (DJO) wobbly stock last week, the Company's 4th quarter earnings per share of $0.21 was slightly ahead of expectations with the full year coming in at $0.64. DJO's stellar performance comes on the heels of record revenues... more
Currently, DePuy is the only orthopedic manufacturer FDA approved to market a mobile bearing knee in the U.S. While a majority of manufacturers market their mobile knee prosthesis overseas, most have been content on waiting for the FDA to down... more
It's official. Tom Trotter, CEO of OrthoLogic (OLGC), has completed his transition of OLGC from a medical device company to a pure play orthobiologics organization. The feat took Trotter approximately three years beginning in 2001. During that time he divested... more
Last week CryoLife announced that it had sold 3.4 million shares in a private placement, raising $20 million (before expenses). With cash levels sitting at approximately $11 million as of the end of 2003 and with quarterly losses running about... more
Stryker (SYK) reported that revenues totaled $1.1 billion in 4Q:03 and $3.63 billion for the full year 2003. This represented a 21% and a 20% increase over the respective periods last year. The increase in revenues helped drive a 27%... more
ArthroCare (ARTC) reported strong year-over-year revenue growth where total 2003 revenues reached $118.9 million compared with $88.8 million in 2002. Product sales in 2003 were $114.7 compared to $85.0 million in 2002. In 2003, gross margin on product sales increased... more
It seems that rising orthopedic valuations on Wall Street are not the only voice hailing the "Decade of Orthopedics." The Wall Street Journal got into the act last Tuesday by writing a positive piece on one of the more interesting... more
Two years ago, in the 2001 year, Kyphon reported $36 million in sales. Approximately mid-way through the 2002 year, the company went public, selling 6 million shares at $15 each, netting $82 million. The underwriters tried, but failed to establish... more
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