Musculoskeletal News Roundup 10-June-10
BY LAUREN UZDIENSKI, JUNE 10, 2010
M&A
The Quebec Superior Court authorized the sale of BioSyntech's assets to Piramal Healthcare. Piramal will acquire assets and assume certain BioSyntech liabilities for CAN $3.9 million ($3.7 million). The sale should close within 15 business days.
Funding
According to an SEC filing, Minimus Spine raised $0.9 million of its $1.7 million equity offering from investors the company identifies primarily as spine clinicians and medical device executives. The company is developing an ozone injection technology for spinal applications.
Tornier filed for an initial public offering that could raise up to $205.0 million, which they plan to use to repay about $108.0 million in debt and potentially to fund acquisitions.
Regulatory
MiMedx Group received additional 510(k) clearance for their HydroFix Vaso Shield to cover additional thicknesses and sizes. The device is indicated for use as a cover for vessels following anterior vertebral surgeries.
Product Introduction and Update
Curexo announced that the first commercial hip replacement surgery with its next-generation ROBODOC Surgical System was performed by Dr. William Bargar in California.
Integra announced that the Vu a-POD anterior lumbar intervertebral body fusion device has been implanted in over 800 patients in the U.S. since its launch in 2009. The company says the Vu a-Pod features an internal locking mechanism to increase stability and reduce the risk of expulsion. The device also offers a large graft window.
Clinical
Wright Medical announced that rotator cuff repairs augmented with the company's Graftjacket matrix were intact in 84% of cases, while only 46% of those in the control group were intact as measured by MRI. Additionally, the study showed that patients in the Graftjacket matrix study group gained statistically superior function compared to the control group.
Appointment
Lanx appointed Michael DeMane Chairman and Chief Executive Officer. Mr. DeMane was formerly Chief Operating Officer at Medtronic, where he previously served as President of Spinal Systems President for Europe, Canada, Latin America, and Emerging Markets. Co-founder and former CEO Dr. Michael Fulton will assume the role of Chief Technology Officer.
