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May 20-23 - Current Concepts in Joint Replacement Spring 2012
May 23-25 - 13th EFORT Congress 2012
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Orthopedic and Dental Industry News
May 2011
Astra Tech bids due next week . . . Nobel Biocare reportedly interested in Camlog . . . Align announces Cadent interoperability . . . NIH appoints director of the National Institute of Dental and Craniofacial Research . . . Straumann names CFO more
MDT announces F4Q:11 earnings . . . SYK receives 510(k) clearance for ShapeMatch Cutting Guides . . . Interventional Spine announces first use of the PerX360 System . . . Tornier launches Porous Coated Affiniti Stem for shoulder . . . Smith & Nephew signs distribution agreement with Graftys more
A retrospective review of Medtronic's Infuse study published in the Spine Journal this week showed a correlation between male patients treated with Infuse and sterility. Medtronic and the surgeon investigators in the study attributed the side effect to surgeon technique and not Infuse itself, which is why it had generally been excluded in previously published studies. more
Kensey Nash paid $22 million to acquire the assets of Synthes' Norian subsidiary. The deal includes an R&D agreement, a supply agreement and the acquisition of a manufacturing facility. The divestiture was a condition of Synthes' settlement with the government over allegations that the company facilitated unauthorized clinical studies of Norian XR, a bone graft substitute. more
Researchers at the Texas Tech University Health Sciences Center were surprised to discover that Medicare patients in rural areas were more likely to undergo a variety of surgical procedures compared with their urban counterparts. The results of the new study, published this month in the Archives of Surgery, may challenge the idea that patients in urban areas have better access to care, but questions remain unanswered about surgical outcomes, whether patients are getting surgery they don't need or the overall health of patients in rural areas. more
Integra LifeSciences acquired SeaSpine for $89 million in cash, about 1.8x the company's 2010 sales. The company says the transaction offers scale in spine and doubles Integra's distribution footprint and customer base in the U.S. spine hardware market. more
China Kanghui announces 1Q:11 earnings . . . Premia Spine acquires Impliant assets . . . Ortho Space raises $3M . . . Medtronic launches Kyphon Xpede Bone Cement . . . dr7 to collaborate with Biomet on rotator cuff repair devices more
Histogenics acquired ProChon Biotech in an all-stock exchange this week, with the companies declining to announce a dollar amount for the transaction. Both companies are developing autologous cartilage regeneration products. more
Orthovita announced this morning that the company agreed to be acquired by Stryker for $3.85 per share in cash, which represents a 58% and 67% premium to the 30-day and 60-day volume weighted average stock prices. The total deal is valued at $316 million, which the company says is the "largest single upfront payment for an orthobiologics company." more
It's been a roller coaster week for BioMimetic Therapeutics, with the stock dipping to a new 52-week low on Tuesday in response to an FDA summary of their Augment pivotal study. However, the week should end on a more positive note for the company, who received a cautious recommendation from a CDRH panel in favor of approval of Augment. more
DJO, Tornier, TSON announce earnings . . . OsteoGeneX receives grant funds . . . BMTI introduces new Augment kit size in Canada . . . Wright Medical commences full commercial launch of the INBONE II Total Ankle . . . Orthovita notes positive vertebroplasty coverage decision . . . RTI Biologics splits Chairman, CEO roles more
The FDA has ordered all manufacturers of metal-on-metal hip implants to conduct studies of the devices. Metal-on-metal hips, once accounting for one-third of all artificial hips implanted annually in the United States, have come under fire recently following reports on high failure rates and increased wear debris. more
This morning Medtronic named Bill Hawkins' successor, appointing Omar Ishrak as the company's chairman and chief executive officer. more
BioMimetic Therapeutics is facing some turbulence heading into its FDA panel meeting this week. The stock dove over 30% this morning on concerns about the Augment IDE study, detailed in the FDA's executive summary of the Augment PMA. more
Additional resignations and a letter from the U.S. Attorney's Office alleging a "material breach" of Wright Medical's Deferred Prosecution Agreement are further clouding the company's compliance issues. Wright Medical disclosed on Wednesday afternoon that three executives resigned "without good reason," a month after CEO Gary Henley resigned and SVP and CTO Frank Bono was terminated. The letter from the USAO arrived on Thursday morning, according to the company's 1Q:11 press release. more
ATEC, ANIK, ARTC, EXAC, NUVA, OFIX, SNN, WMGI and more report 1Q:11 . . . Bacterin, BioPoly and Nextremity Solutions announce funding rounds . . . TiGenix provides reimbursement updates for Belgium and the Netherlands . . . Zimmer launches UniWallis . . . Management changes at TiGenix more
When Medtronic canceled certain contracts with GPOs Novation in Premier back in March, they alleged that ending these relationships would save the company money. Now the government is worried that move will cost Medicare money, and Senate finance committee chairman Max Baucus has announced plans to investigate the company's choice to cancel what was reportedly $2 billion in contracts with Novation and Premier. more
Researchers at the University of Nebraska Medical Center and the Hospital for Special Surgery have collaborated to develop a polymer-based contrast agent that can identify inflammation that may predict implant failure in joint replacement patients. more
Last week's announcement that J&J would acquire Synthes has fueled speculation about which deals might be next as manufacturers strive to stay competitive as DePuy expands its reach. Several reports have referenced ongoing rumors that Smith & Nephew is a prime candidate to be taken private, and Zimmer and Stryker have been identified as potentially on the lookout for new transactions. Could the Synthes deal be setting the stage for a new wave of consolidation in the orthopedics industry? more
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