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May 20-23 - Current Concepts in Joint Replacement Spring 2012
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Orthopedic and Dental Industry News
March 2004
Orthofix International N.V. (NASDAQ NM:OFIX) announced a shift in its Board structure on Friday where Jim Gero, a member of the OFIX Board of Directors since 1997, will become its new Chairman of the Board. He will replace Robert Gaines-Cooper... more
We think it's true. Of course, Medtronic isn't saying anything outside of its well crafted public comments, but our informal content analysis of surgeon and sales commentary have us betting that Sofamor Danek has, indeed, crossed the $1 million per... more
NuVasive, the San Diego based spinal implant company whose sales and losses for 2003 were $22.7 million and $10.1 million, respectively, has filed its registration statement to sell common stock and, with some luck and a large amount of perseverance,... more
Phase III clinical trial data for JNJ's Charite artificial lumbar disc was presented last week at the AANS/CNS conference in San Diego. This equivalency study compared patients having the Charite with patients with the BAK Intervertebral body cage (see table... more
Stryker Corp. (SYK:NYSE), in similar fashion to last year, brought and introduced a majority of its operational leaders of its various operating divisions. However, a significant portion of the analyst meeting, especially Q&A, centered around Stephen MacMillan, President & COO,... more
After two disappointing quarters, Regeneration Technology's (NASDAQ NM:RTIX) message at AAOS was that the distribution system had to change in order to become more effective and that the company's new product pipeline had to grow. Roger Rose, RTI's VP of... more
The 2004 American Academy of Orthopedic Surgeons hit with the speed and intensity of a tornado. It wasn't a destructive tornado but rather a whirlwind of innovative technology and merger activity. Biomet (BMET:NASDAQ) couldn't wait for the official Academy to... more
Encore (ENMC) management reported revenues of $27.9 million and $108.1 million during the 4Q:03 and 2003, respectively. This represented a 6% and a 13% increase over 4Q:02 and 2002 revenues. In our opinion, the most important revenue turn around during... more
The last remaining, full line public spinal implant company is gone. This morning Biomet agreed to pay $280 million or 3.6x 2004 revenues (36x expected 2004 EBITDA) for Interpore Cross. This transaction, assuming it is completed, will vault Biomet into... more
On Thursday, Orthofix (OFIX) announced revenues of $203.7 million for the year ended December 31, 2003, an increase of 15% over the prior year. Interestingly, over a quarter of the incremental revenue can be attributed to the US dollar decline. ... more
The Acid Test for early stage Medical Device companies is profitability, before obtaining FDA approval for the core product. It's an almost impossible feat, yet a couple companies have accomplished this over the years; Vascular Solutions almost seven years ago.;... more
Integra Life Sciences (IART), which reported a 58% jump in revenues to $185 million for the year ended December 31st, 2003, was downgraded by W.R. Hambrecht this past week. We have known IART CEO Stu Essig for quite a while... more
Allograft tissue processing revenues may be down ($30.8 million in 2003 vs. $55.4 million in 2002) but with BioGlue revenues up 33% to reach $27.8 million and an infusion of $20 million in cash, CryoLife's management had a definite spring... more
Last Tuesday, dj Orthopedics (DJO) closed its offering of 7,500,000 shares at $19 per share where the Company sold 3,162,500 primary shares in the offering and selling stockholders separately sold 5,462,500 shares. After the bankers took their fees, DJO netted... more
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