Musculoskeletal News Roundup 17-Jun-10
BY LAUREN UZDIENSKI, JUNE 17, 2010
M&A
Orthopaedic Synergy closed its acquisition of Grenoble, France-based PRAXIM, a manufacturer of automated systems and software for use in total joint arthroplasty. Orthopaedic Synergy is a holding company for OMNIlife Science, Enztec and PRAXIM.
Funding
Chinese orthopedic device manufacturer Trauson announced details of a planned IPO on the Hong Kong stock exchange. The company will price 212.8 million shares at $2.38-3.57 per share, and they anticipate net proceeds of $521.4 million.
Regulatory
HyperBranch Medical Technology received the CE mark for the Adherus Spinal Sealant, a biodegradable, "water- tight" synthetic hydrogel used in dural repair.
Product Introduction and Update
MedShape Solutions received the Gold Award for their MORPHIX Suture Anchor at the Medical Device + Design Excellence Awards meeting. The company reports that the award was given based on the device's "superior design and use of a proprietary shape memory polymer," PEEK Altera.
Legal
TriMed is appealing a prior court's decision in an ongoing patent dispute with Stryker, and the matter will be assigned to a new judge. The case concerns a wrist fixation device.
Distribution
Bacterin International will provide the OsteoSponge, OsteoSelect, OsteoSponge SC, OsteoWrap, BacFast and OsteoLock line of biologics for sale to hospitals and medical practices in the Broadlane group. Broadlane serves 1,100 acute care hospitals and 50,000 non-acute care facilities. The three-year agreement was effective May 1.
Operations
Citing failed fundraising attempts and general economic conditions, Inion has filed for bankruptcy. Court-appointed administrators for the company are seeking to sell its assets.
Appointments
BONESUPPORT named Michael Baker to its Board of Directors. Mr. Baker is currently president and CEO of Pulmonx, a developer of pulmonary devices, and the former president and CEO of ArthroCare. BONESUPPORT is developing CERAMENT, a treatment for osteoporotic fractures.
TranS1 named David J. Simpson to its Board of Directors and appointed him Chairman of the Audit Committee. Previously, Mr. Simpson served as Executive Vice President, Chief Financial Officer and Secretary of Stryker and has served on the boards of Kinetic Concepts, Inc. and RTI Biologics.
