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Orthopedic and Dental Industry News
October 2005
Ten days ago California's Blue Cross and Blue Shield met and, based on the available evidence, decided they would not cover artificial disc replacements at this time. Some interesting technical discussions are posted here: Blue Cross Blue Shield April 2005... more
It has been a busy week for many CEOs and CFOs in the orthopedic device sector. In the past two weeks orthopedic companies reported 3Q:05 sales of $4.7 billion which was a 12% increase over the 3Q:04. Net earnings for... more
The latest issue of Health Affairs contains a troubling study for the surgeon-owned hospital industry. Jean Mitchell, a professor of public policy at Georgetown University, took an in-depth, quantitative look at heart doctors and hospitals in Arizona. In particular, she... more
Medtronic, Guidant and St. Jude Medical said they each received subpoenas from the U.S. Attorney in Massachusetts related to their heart devices. Medtronic also stated that the subpoenas sought documents related to people in a position to recommend purchase of... more
Our recent analysis of orthopedic M&A activity between 1997 and 2005 provided some interesting results. First, the number of orthopedic transactions has significantly increased during 2004 and 2005. Between 1997 and 2003 there were approximately 7 acquisitions per year. It... more
Industry Veteran Promoted After Four Months of Successful Corporate Expansion CARLSBAD, California, October 24, 2005 /PRNewswire/-- Alphatec Spine, Inc. ("Alphatec") today announced the promotion of Ronald G. Hiscock to President and Chief Executive Officer. Mr. Hiscock was hired in June... more
For those who are interested, we would like to update you on the company quarterly earnings calendar for Q3. Company Ticker Symbol ConferenceCall Date/Time Dial-in Number /Passcode - Webcast Replay Dial-in #Reservation Code - Archive Audio Webcast--> Comments(Replay Info Only)... more
By Joane H. Goodroe President and CEO Goodroe Healthcare Solutions, LLC [Editor's note: We welcome consultant Joane H. Goodroe as a guest blogger. See her profile here.] On Friday, October 7th, the House Ways and Means Subcommittee on Health held... more
Only two months ago NuVasive, Inc. acquired the NeoDisc cervical disc nucleus technology from Pearsalls and just this morning NuVasive announced that it has filed an IDE for the device. Back when they bought the NeoDisc, they said this was... more
Is Wall Street's shrill reaction to hip and knee implant pricing concerns overblown? Even with sophisticated econometric tools such a question is difficult to evaluate because we are dealing with an expectations driven phenomenon. So we have our doubts about... more
Another cloud is on the horizon for lumbar artificial discs. This time, injury lawyers Bagolie Friedman announced in the wee hours of this morning that it has formed the International Charite Artificial Disc Practice Group based on their belief there... more
Some orthopedic stocks declined as two of the big five ortho-companies reported their 3Q:05 earnings this week. Stryker Corp. and DePuy (division of JNJ) both reported top line sales growing at 14%. On Tuesday, Stryker reported below street's estimates by... more
Last week, we had the good fortune of catching up with Dr. Edward Benzel, Chairman of the Cleveland Clinic Spine Institute. We spent a few minutes with him at this year's Congress of Neurological Surgeons in Boston. At The Cleveland... more
Stryker released its 3Q:05 earnings report after the close of trading today. The Company reported revenues of $1,172 million which was a 14% increase over the 3Q:04. Adjusted earnings-per-share (diluted) totaled $0.40 which was a 21% increase over the 3Q:04,... more
Last night Osteotech, Inc. (Nasdaq: OSTE) communicated that Musculoskeletal Transplant Foundation ("MTF") has withdrawn its $6.25 a share bid. Today many shareholders voted with their feet and the stock has dropped by $1 a share to $3.88 (or over 20%).... more
Regeneration Technologies, Inc. (RTI) (Nasdaq: RTIX), the highly reputable allograft industry leader, said this morning that it issued a voluntary recall of allograft implants that have been processed from donor tissue received from Biomedical Tissue Services. RTIX attributed this to... more
The allograft industry was scrutinized recently due to the highly publicized case of Biomedical Tissue Services (BTS). The company is being investigated by the Brooklyn district attorney's office for operating a scam to profit from body parts. The first company... more
We attended the Congress of Neurological Surgeons' 55th Annual Meeting in Boston this year. The meeting was refreshingly scientific and the theme was education. In concert with our learning experience at the conference, we have summarized 21 selected clinical papers... more
We recently attended the 3rd annual Musculoskeletal New Ventures Conference in Memphis, hosted by MB Ventures and Memphis Bioworks. The conference brought startups, VCs, Wall Street analysts, large public company execs and other industry watchers together for two days to... more
In the wake of an FDA, NYPD and Brooklyn district attorney's investigation into Biomedical Tissue Services, Lifecell has recalled and halted sales of all tissue from BTS. BTS's CEO is under investigation for illegally harvesting tissue from cadavers at a... more
This morning, the Congressional Subcommittee on Health with be conducting a hearing on gainsharing. Speaking at the hearing as a witness, will be one our guest bloggers, Joane Goodroe. In preparation for the hearing, AdvaMed (an industry group) funded a... more
While Medtronic was the big winner this week, Wright Medical ("WMGI") captured more headlines with two important news items that have negatively impacted their stock price. On Wednesday, WMGI's stock price suffered a huge loss with 20% decline intraday due... more
NASS Notes The North American Spine Society's 20th Annual Meeting in Philadelphia had a mature and thoughtful character this year compared to the fever pitch of prior meetings. The theme of this year's meeting was physician responsibility with major speeches... more
Laurence Y. Fairey's resignation as President and CEO of Wright Medical has been accepted by the board of directors. The resignation follows Wright's recent announcement that revenues would fall $4 million shy of its previous stated guidance for the 3Q:05... more
One of the leaders in this emerging meniscus repair market is ReGen Biologics. We recently had a chance to do a catch up with Gary Bisbee, CEO of ReGen Biologics who we interviewed last year. Disclosure: Individual members of HealthpointCapital,... more
Wright Medical announced its preliminary 3Q:05 financial results; revenues are anticipated to be $4 million lower than its previous guidance and earnings will range between $0.10 and $0.11 which well below analyst expectations of $0.17. Wright blamed its domestic biologics... more
The fate of specialty hospitals is an important topic for the orthopedic and cardiology industry because so many U.S. specialty hospitals are either orthopedic or cardiology-focused and their economic survival depends upon favorable reimbursement. On September 30th, we participated with... more
Please find below a list of important orthopedic conferences for 2006 & 2007. 2006 ORTHOPEDIC CONFERENCES 2006 Date Conference & Web Link Location Dec 12 - 17 27th Annual Society of Military Orthopaedic Surgeons Annual Conference (SOMOS) Kissimmee, FL Dec... more
By Kelli Hallas Vice President of Field Reimbursement Services Emerson Consultants, Inc. [Editor's note: We welcome consultant Kelli Hallas as a guest blogger. See a profile of Emerson Consultants, Inc. here.] Last month CMS issued a National draft non-coverage decision... more
On Friday, Orthofix announced that its Novamedix unit will receive $75 million as a settlement of its long running patent dispute Kinetic Concepts Inc. (KCI). The case was filed by Novamedix in 1992 and relates to KCI's PlexiPulse line of... more
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