Musculoskeletal News Roundup 16-Jun-11
BY LAUREN UZDIENSKI, JUNE 16, 2011
M&A
Altor announced plans to acquire Orchid Orthopedic Solutions from Churchill Equity. The press release says that Orchid is a supplier of design and manufacturing services of implants and instruments for the orthopedic and dental markets. Financial terms were not disclosed.
Funding
Spinal Modulation completed a $30 million Series D financing. The round was led by new investor Medtronic, who was joined by existing investors DeNovo Ventures, ePlanet/DFJ, InCube Ventures, Johnson & Johnson Development Corporation, Kleiner Perkins Caufield & Byers, MedVenture Associates and Raffles Venture Partners. Proceeds from the round will be used to conduct clinical studies of the company's implantable spinal cord stimulator system both in the U.S. and internationally. The company also expects to begin marketing the system OUS in "the near future."
Regulatory
DePuy received FDA approval for the Pinnacle CoMplete Acetabular Hip System. It's the first ceramic-on-metal hip to be approved by the FDA.
Product Introduction & Update
TranS1 announced that the 10,000th U.S. patient has been treated with its AxiaLIF lower lumbar fusion technology. As for how the system has evolved since its launch, the press release notes that the second-generation AxiaLIF 1L+ device is now available, as well as a new inflatable bowel retractor, new disc space preparation tools and pedicle screws.
Vexim announced that its SpineJack range of implants for the treatment of VCFs will be expanded to include two new sizes of implants. The devices, measuring 6.5 mm and 4.2 mm in diameter, will be added to the standard 5 mm size. The company says this will "[enable] SpineJack to be used to treat almost all vertebral fractures of the spine."
Partnerships
Cayenne Medical announced a co-marketing partnership with Parametrics Medical, LLC, an allograft supplier that will provide "tailored knee ligament reconstruction options" to complement Cayenne Medical's knee ligament repair systems.
Shoulder Options and Kapstone Medical announced an exclusive partnership to "accelerate the development and commercialization of novel technologies" for shoulder indications.
Appointments
Orthofix announced that President and CEO Alan Milinazzo will resign as of August 1, though he will remain on the Board of Directors. Succeeding him will be Robert S. Vaters, the company's COO. Mr. Vaters joined Orthofix in 2008 as Executive Vice President and Chief Financial Officer and was promoted to COO earlier this year.
