Musculoskeletal News Roundup 24-Dec-08
BY LAUREN UZDIENSKI, DECEMBER 23, 2008
M&A
Medtronic completed its minority investment in Shandong Weigao Group. As a result of the investment, Medtronic now holds a 15 percent equity stake in Weigao. Medtronic purchased its 15 percent equity interest in Weigao for approximately HK$1.7 billion (or US$221 million) through a special class of Weigao shares listed on the Hong Kong Stock Exchange.
Regulatory
Orthofix announced a filing with the SEC opposing Ramius Capital's previous filing requesting a special shareholders meeting to replace certain members of Orthofix's Board of Directors. In their statement, Orthofix "[reaffirmed] the Board of Directors' commitment to the Company's strategic plan and the Blackstone spine business."
ReGen Biologics received FDA 510(k) clearance for its collagen meniscus implant, Menaflex, which is indicated for use in surgical procedures for the reinforcement and repair of soft tissue injuries of the medial meniscus.
Appointments
Following the resignation of the CFO and other officers, ArthroCare announced several management promotions. James L. Pacek has been promoted to the position of Senior Vice President, Strategic Business Units; Sten I. Dahlborg has been promoted to the position of President, International; Richard W. Rew, II has been promoted to the position of Senior Vice President and General Counsel; Michael N. Moehring has been promoted to the position of Vice President and General Manager, Spine Businesses; and Brian T. Simmons has been promoted to the position of Vice President, Finance and Chief Accounting Officer.
