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Orthopedic and Dental Industry News
January 2006
In an article published in February's Arthritis and Rheumatism, researchers at the University of Pittsburgh reported on their success in using stem cells to repair cartilage. Using a rat model, researchers extracted stem cells from adult muscle tissue, retrovirally transduced... more
There has been a lot of focus over the past six months on pricing in the orthopedic device market. Two topics generating fear have been (1) HCA's purchasing practices and (2) gainsharing. This week, Melissa Davis of The Street.com wrote... more
Earnings: LifeCell reported their preliminary 4Q:05 financial results. J&J announced 4Q:05 financial information. DePuy was at $977mm for worldwide sales ($602mm U.S.), up 3% from $952mm is 4Q:04. Stryker announced 4Q:05 and full year 2005 operational results. For the quarter,... more
Johnson & Johnson began the earnings season earlier this week and disappointed investors with a rather strange phenomenon. Every one of JNJ's reporting divisions' revenue growth rates were significantly lower than their year-end growth rates. DePuy was no exception. DePuy... more
LifeCell reported that it anticipates 4Q:05 product revenues of $27 million which is a 69% increase over the 4Q:04. Product revenues were driven by an 84% increase in Alloderm sales. Orthopedic Product Revenues, which consist of GraftJacket and AlloCraft DBM... more
Medtronic, one of the nation's leading device makers, is facing continued charges of payoffs to surgeons, as written about today in the New York Times. To summarize, a lawsuit filed against the company two years ago, was brought on by... more
Back by popular demand are our Valuation Tables, providing you with valuable information on orthopedic company performances and comparative indices. It includes data from our own HealthpointCapital Medical Technology Index, Orthopedic Valuations and Comparables, and Orthopedic Index and Comparisons. Be... more
Business Update: ArthoCare established a $100 million revolving credit facility, which will be used for payments related to the Opus Medical acquisition and general corporate needs. Stryker adopted a single software suite for data management and regulatory compliance around clinical... more
Iceland-based Ossur announced the acquisition of Innovative Sports, Inc. for $38.4m. Innovative Sports is a US-based developer, manufacturer and marketer of ligament braces, primarily for the knee, but also the wrist. Last year, Innovative Sports had revenue of $19m and... more
DePuy's acquisition of Hand Innovations is significant in the orthopedic space for several reasons. First, it marks the third acquisition of the year already following both Stryker's acquisition of PlasmaSol and Kyphon's purchase of InnoSpine. We, along with several other... more
Archus Orthopedics announced today that they have closed a Series C financing, raising $35m from institutional and strategic investors. J&J's corporate VC arm, J&J Development Corp., led the round. Archus' current investors, including MPM Capital, InterWest Partners and Polaris Venture... more
The spine patent dispute du jour isn't about "555" these days: it's about "665". Today, an intellectual property lawsuit between Kyphon and Sofamor Danek filed in November of last year was unsealed (at Kyphon's request) after the two parties were... more
It has now surfaced that Sen. Charles Schumer has sent a letter to the acting head of the Food and Drug Administration, Dr. Andrew von Eschenbach calling for more oversight of the tissue transplant industry noting that he was "deeply... more
Appointment: OrthoLogic has appointed Les Taeger to the position of Senior Vice President and Chief Financial Officer. Previously, Mr. Taeger spent five years as Chief Financial Officer at Cardiotech International, and its predecessor Gish Biomedical. Clinical Update: The FDA has... more
The US District court ruled that Tenet Healthcare, the second largest US hospital chain, has reached a consolidated settlement agreement of $215 million in cash to be distributed to its shareholders within the next 10 days. The company's net cost... more
A New Jersey company, Juvent, is introducing a new way to treat osteoporosis. The product was initially developed at the State University of NY at Stony Brook, with funding from the US Army and NASA. The Juvent 1000 Dynamic Motion... more
The Company reported 4Q:05 revenues of $75 million which was a 10% increase over 4Q:04 revenues. dj Orthopedics also reported a 12% increase in 2005 revenues which totaled $286 million. Analysts were anticipating revenues of $71 million for the 4Q:05... more
Synthes announced that the FDA sent it an "approvable letter" for the ProDisc-L. The device was deemed safe and effective for treating degenerative disc disease (DDD) at a single level in the lumbar spine, from L3-S1. The FDA expects to... more
February 2010 update: This report is no longer available for purchase. Learn more here. A number of people have asked us what we wrote in our Gainsharing report. So we decided to share some of it. The impact of gainsharing... more
ReGen Biologics has decided to file for premarket notification (510(k)) for the sale of its CMI meniscus implant. In a conference call this week, the company explained its logic. ReGen had undertaken clinical studies to support an application for premarket... more
Biomet received FDA approval for the C2a-Taper Acetabular System, a ceramic-on-ceramic hip replacement system. Biomet's FDA approval follows Stryker, Wright Medical, Encore Medical, Smith & Nephew and Zimmer. President and CEO Dane A. Miller, Ph.D. stated, "We are pleased to... more
Business Update: Zimmer announced their Q4:05 conference call and webcast will be held on January 31st and will include full year 2005 sales and earnings. Stryker announced their Q4:05 conference call will be held January 26th and will cover operating... more
Kyphon announced that it had signed a definitive agreement to acquire InnoSpine, Inc., a privately held company focused on developing and marketing its proprietary technology for the treatment of low back pain as a consequence of disc degeneration. Kyphon will... more
Small Bone Innovations Inc. (SBI), a maker of orthopedic devices for the extremities, announced today that it raised $42.2m in a Series B financing. NGN Capital and 3i led the round with $12m each, and they were joined by Axiom... more
On Tuesday, Stryker announced that it had acquired PlasmaSol Corporation on December 30, 2005 for approximately $17.5 million in an upfront payment and the assumption of certain liabilities. Stryker stated that the transaction will result in a 4Q:05 charge of... more
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