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Orthopedic and Dental Industry News
October 2008
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine,... more
Earnings Exactech reported 3Q:08 revenues of $37.9 million, missing revenues by $0.9 million and representing an increase of 27% over the year-ago period. Among segments, knee revenue increased 16%; organic hip implant revenue increased 8%; biologic services revenue increased 12%;... more
Alphatec Holdings, Inc., the parent company of Alphatec Spine, Inc., a medical device company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions related to the aging spine, announced... more
This evening, BioMimetic Therapeutics (BMTI) issued a press release stating it has reached a settlement with Deutsche Bank regarding BMTI's holdings of auction-rate securities (ARS). BMTI told investors on its 2Q08 conference call that it had approximately $60 million of... more
The New York Times has joined a chorus of concern over the 510(k) process, suggesting in an article yesterday that 510(k)s are outdated (FDA device laws were passed "when devices played a much smaller role in medicine") and allow new... more
Last week global equities were up on points of light in the interbank lending markets and this week equities have been pricing in a recession. Another important market is also pricing in a recession: high yield bonds. Before we get... more
Earnings CONMED reported 3Q:08 revenues of $179.4 million, up 9% over the year-ago period and beating estimates by $2.95 million. Arthroscopy was up 18% (17% constant currency), contributing $69.5 million to total sales. On a non-GAAP basis, diluted earnings per... more
Last week we attended NASS in Toronto, where we saw the launch of a number of new products as well as the release of new clinical data and the first wave of 3Q:08 earnings results. M&A M&A news was quiet... more
Global equity markets have breathed a collective sigh of relief last week thanks to the U.S. Treasury announcing it is recapitalizing banks and the prospect of a thaw in credit markets. Our latest observations are below. U.S. Treasury Update The... more
At NASS this week, ISTO Technologies announced promising data from an animal study evaluating their NuQu cell therapy for the treatment of degenerative disc disease. NuQu is a non-invasive cell therapy derived from juvenile chondrocytes and delivered with a protein... more
Earnings Biomet reported FQ1:09 revenues of $607.0 million, up 13% (9% constant currency) over the year-ago period. Excluding special charges, adjusted operating income was $171.6 million for FQ1:09, up 12% over FQ1:08. Among segments, reconstructive reported $449.3 million in sales,... more
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a leading medical technology company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions affecting the aging spine,... more
M&A Life Spine, Inc. has acquired the "majority" of the intellectual property of Spinal Generations, LLC. Neither details on the acquired technology nor terms of the transaction were disclosed. Funding Harvard received a $125 million donation from Synthes Chairman Hansjorg... more
The FDA "de novo" classification pathway is an often overlooked but potentially valuable regulatory clearance process for device manufacturers. The pathway involves a streamlined reclassification process for devices that are low-risk but have no sufficiently equivalent (NSE) predicate (i.e. have... more
This article first appeared in the October 7, 2008 edition of Orthopedics This Week. Robin: John, first of all, thank you so much for agreeing to discuss this unprecedented crisis in the capital markets. From my perspective, this is an... more
Alphatec Holdings, Inc. (Nasdaq:ATEC), the parent company of Alphatec Spine, Inc., a leading medical technology company that designs, develops, manufactures and markets products for the surgical treatment of spine disorders, with a focus on treating conditions affecting the aging spine,... more
Musculoskeletal stocks have performed relatively well year to date only down 14% compared to the S&P 500, which is down 25%. Despite financial uncertainty roiling the market on what seems like a daily basis, musculoskeletal stocks have displayed resiliency to... more
The 510(k) clearance process as we know it - roughly 90 days of FDA review time and minimal data requirements - could become more burdensome in the next few years as the FDA responds to what's widely expected to be... more
M&A Arthro Kinetics announced that they are pursuing a potential asset sale. The company said this week that their current $5.0 million cash balance was not sufficient to sustain operations. Tecomet has been acquired from Cardinal Health by Charlesbank Capital... more
What do the severe dislocations seen in the credit markets mean for the orthopedic device startup looking for venture capital? Duly noting we are not a venture capital firm (we perform buyouts), our observation from afar is that the venture... more
Even in these troubled markets, there is a price for everything. On Monday, in the midst of one of the greatest credit dislocations in history, Orthofix announced that it has amended its existing credit facility. In an even more remarkable... more
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