Musculoskeletal News Roundup 7-Apr-11
BY LAUREN UZDIENSKI, APRIL 7, 2011
Earnings
aap Implantate reported 1Q:11 sales of EUR 6.5 million ($9.2 million), up 14% over the year-ago period. The company commented that consolidation of two R&D sites has led to cost reductions and increased efficiency and noted that the Dieburg, Germany facility has become a "center of excellence" for bone cement and cementing techniques. Looking ahead, the company plans a 2Q:11 launch of its WSG fixation systems, and is in "advanced" discussions of a U.S. distribution agreement for a trauma product.
Medicrea reported 1Q:11 sales of EUR 5.2 million ($7.3 million), up 53% over the year-ago quarter. U.S. sales increased by 85% after adjusting for the effects of currency, accounting for 50% of the company's sales in the first quarter.
RSB Spine announced that 1Q:11 sales increased by 145% over 1Q:10. The company notes that this is its sixth consecutive quarter of revenue growth.
Funding
According to regulatory documents, Orthopaedic Synergy plans to raise up to $9.5 million. Orthopaedic Synergy is a holding company for OMNIlife Science, Inc., and it previously acquired PRAXIM SA, a French developer of software and instruments used for joint arthroplasty.
Regulatory
Alphatec Holdings announced that the company has received 510(k) clearance from the FDA for its Solus Anterior Lumbar Interbody Fusion (ALIF) system. The Solus ALIF device features an integrated fixation method based on intellectual property previously acquired by the Company. The patented fixation technology allows for enhanced segmental stability with a simplified surgical technique, while providing for substantial spacing to add bone graft.
Titan Spine received CE mark certification to launch its Endoskeleton lumbar interbody fusion devices in Europe, which include the Endoskeleton TA (ALIF), Endoskeleton TT (TLIF) and Endoskeleton TO (PLIF and Oblique). The devices feature a roughened titanium surface designed to promote fusion.
Product Introduction and Update
DePuy Mitek announced that they are the Mobile Health and Fitness Provider of the PGA TOUR and Champions Tour, sponsoring "state-of-the-art fitness trailers where TOUR players can focus on pre-game and post-tournament workouts, exercise and physical therapy." The sponsorship is intended to "educate golfers and fans alike on the importance of keeping their knees healthy and free of pain and to raise awareness of ORTHOVISC."
Emerge Medical is launching a line of "high-quality generic implants and instruments" for the trauma market. The company is also planning to introduce devices for the sports medicine and spine markets.
Extremity Medical announced that the first KinematX Midcarpal Joint Hemiarthroplasty procedure was performed at the Spire Wellesley Hospital in Southend, England. The company says the device is "first-of-its-kind in that it is a resurfacing of the midcarpal joint in the wrist, the joint that enables highly functional motion."
Life Spine held its first training session for the OCTAVE Posterior Fusion, AVATAR Minimally Invasive Spinal and FS3 Facet Screw systems in Las Vegas last week. The company reports that over 20 surgeons were present.
Mazor Robotics announced that its SpineAssist surgical robot completed its 2,000th surgery. The procedure was performed at the Texas Health Presbyterian Hospital Plano.
Thompson Surgical Instruments will now offer products for minimally invasive spine surgery through their new division Thompson MIS. The company says they will "combine their 28 years of experience in product development and manufacturing with the ideas of spine surgeon thought-leaders to fuse technique and technology into Thompson MIS."
Intellectual Property
Arthrex has been assigned patent 7,879,105 covering the "method and apparatus for arthroscopic joint resurfacing."
Appointments
CareFusion announced that Chief Operating Officer Dwight Winstead will leave the company on June 30. Mr. Winstead has served as COO since CareFusion separated from Cardinal Health in 2009. Chairman and CEO Kieran Gallahue, who succeeded David Schlotterbeck in February, commented, "Dwight and I agreed the timing was right to streamline the organization."
Wright Medical's Chairman of the Board David Stevens has been named interim President and CEO following Gary Henley's resignation. The Board is searching for a permanent replacement for Mr. Henley, who resigned in advance of a Board meeting about the company's ongoing compliance program.
