Orthopedic News Roundup 15-Jul-05
BY HUYEN NGUYEN, JULY 15, 2005
TheStreet.com is on the prowl again. Zimmer became the primary target for TheStreet, citing that the Company lacks innovation in product technology. According the writer, while Zimmer, Biomet and Stryker's orthopedic implants costs are high, their products are not revolutionary. Read our own feedback regarding this issue.
Raising Capital: ReGen Biologics has completed $11.8 million in private equity placement to a group of undisclosed investors, 13.9 million shares of restricted common stock was sold at the price of $0.85 per share.
Regulatory Clearance: IsoTis Biologics received 510(K) clearance for its DBM putty, Accell Connexus(TM). ArthroCare received FDA clearance for its Parallax(R) Acrylic Resin with TRACERS(R)-Ta Bone Cement Opacifier for use in vertebroplasty or kyphoplasty procedures.
Appointments: Anika Therapeutics has appointed Kevin W. Quinlan, formerly with Boston Biomedica, Inc., to CFO. BioMimetic Pharmaceuticals has hired Steven N. Hirsch as Executive Vice President of Orthopedics and Chief Operating Officer, and also has appointed Earl M. Douglas, Esq. to General Counsel. Previously, Steven Hirsh was President of European business for Smith & Nephew Orthopaedics, and Earl Douglas was General Counsel for Spinal Dynamics.
Business Update: A biomaterials company, MacroPore Biosurgery, announced a company name change to Cytori Therapeutics, Inc. It will continue to trade on the Frankfurt Exchange with the same ticker symbol (XMP.GR) and will operate as a division of Cytori. dj Orthopedics has a new world headquarter in Vista, California with total lot size of 110,000 square feet; the project is to be completed by mid-2006. Osteotech has replaced PricewaterhouseCoopers LLP with BDO Seidman, LLP as the company's new accounting firm.
Product Update: Encore Medical held its first training workshop on the Reverse(R) Shoulder Prosthesis on June 29, 2005. The Reverse(R) Shoulder Prosthesis is intended for patients who suffered from severely torn rotator cuff. A tissue regeneration company, BioSurface Engineering Technologies ("BioSet"), announced a technology agreement with EBI (a subsidiary of Biomet), to facilitate the evaluation on BioSet's synthetic growth factor peptides.
HealthpointCapital & Its Affiliates Update: This week, we announce the appointment of Ronald G. Hiscock to President & Chief Operating Officer of Alphatec Manufacturing, Inc. Alphatec is a portfolio company of HealthpointCapital; we acquired the Company in March 2005. Alphatec is one of the largest independent spinal implant companies in the world. Nexa Orthopedics has acquired the StayFuse(TM) product line from Pioneer Surgical Technology. StayFuse(TM) is intended for patients who suffered from arthritis of the foot or hand. Nexa has also signed a private label distribution agreement with OsteoBiologics ("OBI"). Under the agreement, Nexa will have the exclusive rights to some of OBI products for use in hand, foot and ankle surgery. Nexa is an extremity company, created by HealthpointCapital in 2004.
Miscellaneous: Ever thought that you could detect osteoporosis by just scanning your fingernail? Scientists from the University of Limerick, UK have found a way to make this technology cheap and accessible to the market. While I'm sitting here doing my work, I'm wondering if I my posture is anatomically correct to avoid future back pains. Dr. John J. Triano of spine-health.com provides some tips on how one can reduce back pains while sitting in office chair for a prolong periods of time.
