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Orthopedic and Dental Industry News Complete Archive »

Biomet

Zimmer to Acquire Biomet for $13.4B BY ANDREW VAHRADIAN, APRIL 24, 2014

Zimmer and Biomet announced that each of their respective Boards of Directors have approved a definitive agreement under which Zimmer will acquire Biomet in a cash and stock transaction valued at approximately $13.35 billion, including the assumption of net debt,... more

Biomet Files for Proposed IPO BY ANDREW VAHRADIAN, MARCH 7, 2014

Biomet officially announced that its parent company, LVB Acquisition, filed a registration statement with the Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock. The number of shares to be offered and the... more

Biomet Expected to Launch IPO BY ANDREW VAHRADIAN, FEBRUARY 28, 2014

Biomet, Inc. is reported to have hired Bank of America Merrill Lynch (BAML), Goldman Sachs (GS) and JPMorgan Chase & Co (JPM) to lead an initial public offering (IPO) that could take place as early as 1H:14, and raise potentially... more

Biomet to Acquire Privately-held Lanx, Inc. BY ANDREW VAHRADIAN, OCTOBER 8, 2013

Biomet announced a definitive agreement to acquire Lanx, Inc., a developer of minimally invasive devices for spinal fusion procedures. Financial details of the transaction were not disclosed. The pending deal increases Biomet's spine market share, grants Biomet greater exposure to... more

Biomet Decides Not to Spin-off 3i Dental Business BY ANDREW VAHRADIAN, APRIL 2, 2013

Biomet reported in a regulatory filing that the Board of Directors of LVB Acquisition, Inc. and Biomet have collectively decided not to proceed with a spin-off of the company’s Biomet 3i dental business. No explanation regarding the decision was provided.... more

Musculoskeletal News Roundup 6-Sept-12 BY LAUREN UZDIENSKI, SEPTEMBER 6, 2012

FDA clears aap's LOQTEQ, LDR's Avenue L Lateral Lumber Cage System ... K2M introduces SERENGETI Complex Spine Minimally Invasive Retractor System ... AmnioClear clinical data ... Biomet to distribute BONESUPPORT's CEREMENT more

Musculoskeletal News Roundup 19-Jul-12 BY LAUREN UZDIENSKI, JULY 19, 2012

Biomet, JNJ, Stryker announce earnings ... Mindray closes Dragonbio acquisition ... K2m debuts Rail 4D Technology ... Globus files amended S-1 ... MTF receives patent covering NovaBone Putty ... Expanding Orthopedics announces data presentation ... SpineGuard reports 6-month data ... Cardinal Health launches Orthopedic Solutions offering more

Dental News Roundup June 2012 BY LAUREN UZDIENSKI, JULY 2, 2012

Keystone Dental and Southern Implants merge ... Straumann completes acquisition of 49% of Neodent ... Sirona expands distribution agreement with Patterson ... Early-stage implant company Nasseo wins UC San Diego Entrepreneur Challenge ... Nobel announces management changes more

Musculoskeletal News Roundup 21-Jun-12 BY LAUREN UZDIENSKI, JUNE 21, 2012

Biomet pre-announces ... BONESUPPORT raises $10M ... Biomet announces initial closing of DePuy trauma transaction ... FDA clears KFx Medical's 5mm AppianFx Tissue Fixation Anchor ... Integra launches IPP-ON PIP Fusion System more

Biomet Weighs Dental Spin-Off BY LAUREN UZDIENSKI, JUNE 5, 2012

Biomet reported in a regulatory filing that they are beginning to "pursue strategic exploratory work" relating to a tax-free spin-off of Biomet 3i, the company's dental division. The company said they expect this effort to take several months and they would not comment further "unless and until a decision is made." more

Musculoskeletal News Roundup 12-Apr-12 BY LAUREN UZDIENSKI, APRIL 12, 2012

Biomet kicks off earnings season ... FDA approves phase I Arteriocyte study for Compartment Syndrome ... Piramal receives CE mark for BST-CarGel ... Amedica announces new biologics distribution agreements ... Advanced Biologics inks deal with GPO Premier more

Musculoskeletal News Roundup 5-Apr-12 BY LAUREN UZDIENSKI, APRIL 5, 2012

SNN acquires LifeModeler ... Cutting Edge Spine launches E-Vol System of spinal fusion devices ... Medtronic to settle shareholder lawsuit for $85M ... New BONESUPPORT CEO announces 100 Day Plan ... Blue Belt opens new Pittsburgh facility more

Biomet Offers to Buy DePuy's Trauma Business BY LAUREN UZDIENSKI, APRIL 3, 2012

Biomet announced this morning that the company has made a binding offer to acquire DePuy's worldwide trauma business for $280 million in cash. The deal comes on the heels of reports that the EU will approve J&J's $21B acquisition of Synthes and speculation that J&J offered concessions to mitigate anti-competitive concerns. more

Musculoskeletal News Roundup 29-Mar-12 BY LAUREN UZDIENSKI, MARCH 29, 2012

Mazor reports earnings .... Omni Surgical raises $27M ... Relievant Medsystems raises $30M ... FDA warning letters for Lucero Medical, Orthopedic Alliance and Spinal Solutions ... Benvenue Medical launches Blazer Vertebral Augmentation System ... Aperion Biologics completes enrollment in Z-Lig ACL study ... Benvenue Medical announces enrollment of 250th patient in KAST (Kiva System) study ... Ascendx Spine inks distribution deal in Austria, Germany and Switzerland more

Biomet Settles FCPA Allegations BY LAUREN UZDIENSKI, MARCH 27, 2012

Biomet settled a federal investigation into alleged violations of the Foreign Corrupt Practices Act (FCPA) for around $23 million. The investigation concerned $1.5 million in payments to healthcare providers in Argentina, Brazil and China that spanned the years between 2000 and 2008. more

Musculoskeletal News Roundup 9-Feb-12 BY LAUREN UZDIENSKI, FEBRUARY 9, 2012

Product launches from AAOS ... Nobel Biocare announces 4Q ... Hospitals settle Medicare fraud claims over kyphoplasty billing ... Updates on the American Joint Replacement Registry ... Stryker announces inventory management system rollout more

Musculoskeletal News Roundup 12-Jan-12 BY LAUREN UZDIENSKI, JANUARY 12, 2012

MAKO, NUVA, OFIX, SYK, TRNX pre-announce ... FDA clears Biomet's E1 humeral bearing and Comprehensive Segmental Revision System ... Ortho Kinematics receives 510(k) clearance ... Lanx announces 100th implantation of Durango ... Mazor receives EU patent ... SNN announces VISIONAIRE study ... Arthrex to market ThermoGenesis PRP, bone marrow concentrate product ... Pioneer Surgical promotes Daniel Webber to CEO more

Musculoskeletal News Roundup 22-Dec-11 BY LAUREN UZDIENSKI, DECEMBER 22, 2011

Biomet pre-announces . . . Oregon judge throws out SNN suture anchor ruling . . . Exactech initiates cartilage repair study . . . Spine Wave and MB Innovations announce partnership more

Musculoskeletal News Roundup 13-Oct-11 BY LAUREN UZDIENSKI, OCTOBER 13, 2011

aap Implantate pre-announces 3Q:11 ... ISTO receives CE mark for InQu ... Biomet celebrates 35th anniversary of the Oxford partial knee ... TiGenix announces Finnish distribution for ChondroCelect more

Musculoskeletal News Roundup 6-Oct-11 BY LAUREN UZDIENSKI, OCTOBER 6, 2011

Biomet announces earnings . . . OrthoPediatrics raises $20M . . . OsteoGeneX spins off OssiFi . . . Vexim prepares to launch SpineJack in India . . . IART launches new spine products . . . Ranier Technology inks distribution deal for Germany and Switzerland . . . OFIX promotes Bryan McMillan President of the Spine Global Business Unit more

Dental News Roundup September 2011 BY LAUREN UZDIENSKI, SEPTEMBER 29, 2011

Nobel Biocare launches bond issue ... Straumann may purchase own shares ... Astra Tech launches Atlantis 3D Editor ... Biomet 3i rebrands digital products under BellaTek name, launches OsseoGuard Flex membrane and new app for clinicians and patients ... Align to close NJ facility ... Straumann names Regional Head North America more

Metal-on-Metal Hip Complaints Surging: NYT Analysis BY SANDER DUNCAN, AUGUST 23, 2011

The FDA received more complaints about metal-on-metal hip implants this year to date than in the preceding four years combined, according to a New York Times analysis of FDA data. more

Musculoskeletal News Roundup 14-Apr-11 BY LAUREN UZDIENSKI, APRIL 14, 2011

FDA approves Covidien's DuraSeal Exact . . . IART announces new spine clearances . . . Lanx launches facet screw system and ALIF system . . . Tornier introduces BioFiber Surgical Mesh . . . VITA comments on positive Vitagel data . . . Stryker sues Zimmer for allegedly poaching sales force more

Biomet Announces F3Q:11 BY LAUREN UZDIENSKI, APRIL 12, 2011

Biomet announced results from their fiscal third quarter (ended February 28) this morning, and while they did not meet their goal of "sustainable above-market growth," revenues were largely stable and even demonstrated sequential improvement in trauma and spine. more

Musculoskeletal News Roundup 17-Feb-11 BY LAUREN UZDIENSKI, FEBRUARY 17, 2011

ARTC, DJO, GENZ, OFIX and Synthes report earnings . . . Sonoma raises $22 million . . . Anika provides FDA update . . . AAOS product launches . . . Medtronic announces kyphoplasty data more

Musculoskeletal News Roundup 10-Feb-11 BY LAUREN UZDIENSKI, FEBRUARY 10, 2011

EXAC, OSSUR, SNN, WMGI announce 4Q . . . Biomet receives FDA clearance for the Signature patient-specific instrumentation system . . . FDA clears Vitoss BA Bimodal Bone Graft Substitute . . . Integra launces Allograft Cancellous Sponge . . . MedShape Solutions introduces the the ExoShape CL for ACL surgeries . . . ISTO Technologies announces new spine patent . . . InteliFUSE seeks dismissal of patent infringement suit with Biomedical Enterprises . . . Federal appeals court rules against Globus in Medtronic patent dispute . . . SEC concludes ARTC investigation . . . curasan, SYK ink distribution deal more

Dental News Roundup October 2010 BY LAUREN UZDIENSKI, OCTOBER 29, 2010

Align, Straumann, Zimmer report 3Q . . . Align receives approval to market Invisalign in China . . . FDA to hold an advisory panel on dental amalgam . . . Nobel launches Replace Select TC . . . Straumann initiates controlled rollout of MembraGel more

Musculoskeletal News Roundup 14-Oct-10 BY LAUREN UZDIENSKI, OCTOBER 14, 2010

Biomet announces FQ1:11 . . . Core Essence Orthopaedics raises $1.5M . . . Medical Tracking Solutions launches iTraycer . . . 1,000th Zimmer Natural Nail Cephalomedullary Nail implanted . . . Vertiflex enrolls 200 patients in its Superion IDE study . . . Pioneer Surgical to manufacture and distribute SpineSmith's Cequence anterior cervical plate . . . Cardo Medical seeks capital . . . Pioneer Surgical to open manufacturing and distribution facility in Scotland more

Musculoskeletal News Roundup 16-Sept-10 BY LAUREN UZDIENSKI, SEPTEMBER 16, 2010

NUVA lowers guidance . . . HydroCision acquired by three VC firms; new President and CEO appointed . . . TiGenix closes seed financing round for new pharma spinoff . . . Creaspine, Ranier Technology receive CE mark clearances . . . Medtronic introduces Kyphon Cement Delivery System in Europe . . . SpineAlign Medical introduces European Observational Registry for the VerteLift System . . . Medtronic wins certain rulings in ongoing patent infringement suit brought by Synthes . . . Synthes sues Biomet, former sales rep more

Musculoskeletal News Roundup 19-Aug-10 BY LAUREN UZDIENSKI, AUGUST 19, 2010

Medtronic to acquire Osteotech . . . Stryker may buy Boston Scientific's neuromodulation unit . . . SI-Bone raises $11M . . . Aesculap received 510(k) clearance for the A-Fix Spinal System . . . Biomet responds to FDA warning letter . . . Benvenue Medical announces first U.S. use of the Blazer system for treating VCFs . . . Cytori receives patent for stem cell use in musculoskeletal applications . . . NuOrtho Surgical announces pre-clinical results . . . RTI Biologics reports "no change" to Medtronic supply agreement more

Dental News Roundup July 2010 BY LAUREN UZDIENSKI, JULY 30, 2010

Align, Biomet, Dentsply and Zimmer report dental sales . . . Astra Tech augments Atlantis patient-specific abutment line . . . Biomet 3i and Renishaw to collaborate on digital solutions . . . BIOLASE announces cost-cutting initiatives and organizational changes . . . DTI appoints Russell Olsen as Senior Vice President of Sales, Marketing and Service . . . Straumann's CFO steps down more

Musculoskeletal News Roundup 1-Jul-10 BY LAUREN UZDIENSKI, JULY 1, 2010

Biomet and RSB Spine announce revenues . . . Bacterin announces reverse merger, private placement . . . FDA begins review of BioMimetic's Augment . . . Cerapedics receives CE mark for iFactor bone graft . . . DFine signs distribution agreements for Italy and Morocco . . . Michael DeMane declines CEO, Chairman role at Lanx more

Dental News Roundup June 2010 BY LAUREN UZDIENSKI, JUNE 30, 2010

Biomet reports F4Q:10 earnings . . . Discus Dental acquires Zap Lasers . . . Euroteknika launches Universal + implant system in the U.K. . . . 20% of Britons are missing five teeth or more . . . 3M closing an Oklahoma plant used by its Espe dental products unit . . . Fibrocell Science appoints three new clinical advisors more

Musculoskeletal News Roundup 15-Apr-10 BY LAUREN UZDIENSKI, APRIL 15, 2010

Biomet kicks off earnings seasons . . . ATEC preannounces . . . Articulinx, biospace med, Osseon close funding rounds . . . ConforMIS G2 Uni receives CE mark clearance . . . EXAC's Novation hip approved for sale in Japan . . . Stryker Interventional Spine launches iVAS for VCFs . . . Cayenne Medical announces clinical results for the AperFix System more

Musculoskeletal News Roundup 7-Jan-10 BY LAUREN UZDIENSKI, JANUARY 7, 2010

Earnings Biomet reported FQ2:10 (ended November 30, 2009) revenues of $696.0 million, up 5% over the year-ago period. Recon sales increased 6% to $528.4 million, with hip up 4%, knee up 8%, dental down 8% and extremity up 27%. Additionally,... more

Musculoskeletal News Roundup 22-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 22, 2009

Earnings CONMED reported 3Q:09 sales of $175.5 million, down 2% from the year-ago period and beating estimates by $1.4 million. Arthroscopy sales were up 2% and powered instrument sales were flat. Non-GAAP diluted EPS of $0.28 beat estimates by $0.12.... more

Biomet Acquires Cartilix BY LAUREN UZDIENSKI, OCTOBER 20, 2009

Biomet has acquired the assets of Cartilix for an undisclosed sum. The target company is developing ChonDux, a new technology that uses a biological adhesive and hydrogel to fill lesions in the articular cartilage. Previous investors in the company include... more

Musculoskeletal News Roundup 15-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 15, 2009

Earnings Biomet reported FQ1:10 revenues of $630.0 million, a 7% increase over the year-ago period. Excluding dental, recon sales increased by 9%, with knee up 10%, hip up 6% and extremity up 23%. Dental decreased by 5%. All rates exclude... more

Biomet Reports Strong Sales in FQ1 BY LAUREN UZDIENSKI, OCTOBER 12, 2009

Biomet reported a strong FQ1:10 on Friday, kicking off earnings season on a positive note. For the quarter ended Aug. 31, the company reported $630 million in revenues, a 7% increase on a constant-currency basis. U.S. sales grew by 9%.... more

Muscloskeletal News Roundup 16-Jul-09 BY LAUREN UZDIENSKI, JULY 16, 2009

Earnings Biomet reported FQ4:09 sales of $639.3 million, representing a 7% increase over the year-ago period. Among segments, hip increased 9%; knee increased 11%; extremity increased 18%; dental decreased 13%; fixation increased 5%; and spine increase 18%. All growth rates... more

Biomet Kicks Off Earnings Season with Strong Results BY LAUREN UZDIENSKI, JUNE 30, 2009

Biomet pre-announced sales results on Friday for their fourth quarter and fiscal year 2009, which ended May 31, 2009. The company reported net sales of $639.0 million for FQ4:09, which represents an increase of 1% as reported and 7% when... more

Musculoskeletal News Roundup 14-May-09 BY LAUREN UZDIENSKI, MAY 14, 2009

Earnings aap Implantate reported 1Q:09 revenues of EUR 8.4 million ($11.1 million), representing a 5% increase over the year-ago period. EBITDA for the quarter declined 47% to EUR 0.05 million ($1.1 million). The company says that for the full-year 2009,... more

Early Earnings Reports Show Growth Despite Economy BY LAUREN UZDIENSKI, APRIL 16, 2009

DePuy and Biomet have kicked off 1Q earnings season on a positive note, offering a view of industry growth that may be outpacing expectations. These two companies, which together comprise more than a third of the ortho market, reported 7%... more

Musculoskeletal News Roundup 9-Apr-09 BY LAUREN UZDIENSKI, APRIL 9, 2009

Earnings Biomet reported FQ3:09 revenues of $615 million, a 7% (constant currency) increase over FQ3:08. Among segments, recon reported growth of 7%, with hip up 10%, knee up 9%, fixation up 4% and dental down 10%, which the company attributed... more

Four of Big Five Settle with DOJ; Compliance Monitors Leave BY DAVID KRESSEL, MARCH 31, 2009

Eighteen months after the Department of Justice entered into Deferred Prosecution Agreements (DPA) with Smith & Nephew, Johnson & Johnson (Depuy), Zimmer and Biomet, and a Non-Prosecution Agreement with Stryker, the DOJ has announced it has dismissed the criminal charges... more

NASS Announces More Stringent Disclosure Policy BY LAUREN UZDIENSKI, JANUARY 26, 2009

The North American Spine Society (NASS) adopted a new transparency policy requiring surgeons presenting at conferences to disclose both industry relationships and the dollar amount of any payments. Failure to disclose information could result in sanctions including suspension or expulsion... more

Musculoskeletal News Roundup 15-Jan-08 BY LAUREN UZDIENSKI, JANUARY 15, 2009

Earnings Alphatec Spine announced that, based on preliminary financial data, the company will report record consolidated quarterly revenues for 4Q:08 of approximately $28.4 million, an increase of approximately 33% over revenues from the prior year fourth quarter. For the year... more

While Some Sectors Struggle, Early 4Q Results Show Stability for Ortho BY LAUREN UZDIENSKI, JANUARY 14, 2009

Over the weekend, Slate.com posted a report on some of the reasons why the healthcare industry may be more vulnerable to a recession now than in the past. However, the article also helped to highlight the ways in which orthopedics... more

Musculoskeletal News Roundup 8-Jan-09 BY LAUREN UZDIENSKI, JANUARY 8, 2009

Earnings CONMED Corp. lowered 4Q:08 revenue projections to $176-$178 million, 9% lower than forecast and approximately 7% lower than 4Q:07. Reduced revenues were attributed to unfavorable foreign currency exchange fluctuations and lower than anticipated sales of capital equipment to hospitals.... more

Musculoskeletal News Roundup 16-Oct-08 BY LAUREN UZDIENSKI, OCTOBER 16, 2008

Earnings Biomet reported FQ1:09 revenues of $607.0 million, up 13% (9% constant currency) over the year-ago period. Excluding special charges, adjusted operating income was $171.6 million for FQ1:09, up 12% over FQ1:08. Among segments, reconstructive reported $449.3 million in sales,... more

Musculoskeletal News Roundup 11-Sept-08 BY LAUREN UZDIENSKI, SEPTEMBER 11, 2008

M&A Wright Medical Group, Inc. acquired the RAYHACK System for wrist reconstruction, which consists of "procedure-specific bone-cutting guides and fixation plates that allow precise shortening and repositioning of the radius and ulna." The system will be available in the U.S.... more

Musculoskeletal News Roundup 17-July-08 BY LAUREN UZDIENSKI, JULY 17, 2008

Earnings Biomet reported FQ4:08 revenues of $635.6 million, an increase of 16% (10% constant currency) over the year-ago period. Sales increased 10% in the U.S and 24% (11% constant currency) OUS. Recon sales increased 17% worldwide (12% constant currency) to... more

Musculoskeletal News Roundup 17-Apr-08 BY LAUREN UZDIENSKI, APRIL 17, 2008

Earnings Biomet reported FQ3:08 net sales of $603.1 million, a 14% increase over the year-ago period. Excluding the impact of foreign currency, net sales increased 10%. U.S. revenue was $351.6 million. Adjusted net income for the third quarter was $25.2... more

Musculoskeletal News Roundup 20-Mar-08 BY LAUREN UZDIENSKI, MARCH 20, 2008

Earnings Biomet announced preliminary FQ3:08 revenues of $603.1 million, an increase of 14% over the year-ago period. By segment, reconstructive device sales increased 19% worldwide and 13% in the U.S.; knee sales increased 24% worldwide and 21% in the U.S.,... more

Musculoskeletal News Roundup 6-Mar-08 BY LAUREN UZDIENSKI, MARCH 6, 2008

Earnings Anika Therapeutics reported 4Q:07 product revenue of $7.9 million, in line with estimates and up from $5.08 million for the same period last year. The revenue growth was attributed to domestic and international sales of the ORTHOVISC product line,... more

Musculoskeletal News Roundup 17-Jan-07 BY LAUREN UZDIENSKI, JANUARY 17, 2008

Earnings Biomet reported earnings for 2FQ:08 last week, with net sales up 11% to $578.1 million over the comparable quarter. Worldwide, knee sales were up 17%, and hip was up 12%. Extremity sales increased 11% and bone cements and accessories... more

Musculoskeletal News Roundup 13-Dec-07 BY LAUREN UZDIENSKI, DECEMBER 13, 2007

Earnings Tutogen reported FY07 revenues of $53.8 million, an increase of 42% over FY06. The Company reported net income of $6.8 million, or $0.36 per fully diluted share in fiscal year 2007 compared to a net loss of $0.6 million,... more

Musculoskeletal News Roundup 1-Nov-07 BY LAUREN UZDIENSKI, NOVEMBER 1, 2007

Earnings DJO reported 3Q:07 net revenues of $119.8 million, up 5.8% over 3Q:06. Excluding a 2006 revenue benefit from shipping terms and clearing of product backorders associated with Aircast, 3Q:07 revenue was up 7.6% to $121.8 million, in line with... more

Musculoskeletal News Roundup 18-Oct-07 BY LAUREN UZDIENSKI, OCTOBER 18, 2007

Earnings Biomet reported FQ1:08 sales of $552.3 million, up 9% over the comparable quarter. The company reported a net loss for the quarter of $42.9 million, down from an income of $104.4 million for FQ1:07. The company attributed the loss... more

SEC Investigates Biomet for Possible Violations of the Foreign Corrupt Practices Act BY LAUREN UZDIENSKI, OCTOBER 12, 2007

Biomet announced yesterday in a preliminary earnings release for FQ1:08 that the company was under investigation for possible violations of the Foreign Corrupt Practices Act (FCPA). The investigation was said to be informal and involve other companies in addition to... more

Musculoskeletal News Roundup 28-Sept-07 BY LAUREN UZDIENSKI, SEPTEMBER 28, 2007

Legal Federal prosecutors announced on Thursday the terms of a settlement with Zimmer, Depuy, Biomet, Smith & Nephew and Stryker following an investigation into physician compensation practices. Zimmer, Depuy, Biomet and Smith & Nephew entered into deferred prosecution agreements and... more

Musculoskeletal News Roundup 6-Sept-07 BY LAUREN UZDIENSKI, SEPTEMBER 6, 2007

Regulatory Inion Oy received FDA approval for its implant material BioRestore in dental and cranio-maxillofacial applications. The product is designed to fill bony voids or gaps in the skeleton. BioRestore is currently being reviewed by the FDA for use in... more

Biomet Shareholders Approve Private Equity Transaction BY ARIELLA P. GOLOMB, MD, SEPTEMBER 5, 2007

Yesterday afternoon Biomet announced that its acquisition by a private equity consortium was approved by the Company's shareholders at the increased price of $46.00 per share. According to a preliminary tally, 91.56% of the total shares outstanding voted in favor... more

Musculoskeletal News Roundup 2-August-07 BY LAUREN UZDIENSKI, AUGUST 2, 2007

Earnings Large Joint: Exactech announced 2Q:07 revenue of $31.6 million, beating estimates of $29.9 million and up 19% from the comparable quarter. CEO Bill Petty attributed the growth to "acceptance of our new products and continuing success of our products... more

Musculoskeletal News Roundup 12-July-07 BY LAUREN UZDIENSKI, JULY 12, 2007

M&A Biomet Inc. shareholders accepted an $11.4 billion buyout offer from a private equity consortium attempting to acquire the medical device maker. The consortium, LVB Acquisition LLC, announced Thursday that nearly 83 percent of Biomet's shares were tendered. The company... more

Orthopedic News Roundup 7-June-07 BY LAUREN UZDIENSKI, JUNE 7, 2007

M&A The private equity consortium set to acquire Biomet increased its buyout offer to $46.00 per share in cash, or an equity value of $11.4 billion. The new offer represents a 32.3% premium over the April 2006 common stock closing... more

Offer for Biomet Increased to $46.00 Per Share BY LAUREN UZDIENSKI, JUNE 7, 2007

The private equity consortium acquiring Biomet increased their buyout offer from $44.00 per share to $46.00 per share, an equity value of $11.4 billion. The $46.00 offer represents a 32.3% premium over Biomet's April 3, 2006 closing price, the trading... more

Orthopedic News Roundup 31-May-07 BY LAUREN UZDIENSKI, MAY 31, 2007

Regulatory CMS released a proposed non-coverage decision for lumbar artificial disc replacements following a review of Synthes' Pro-Disc-L. The agency found that LADR is not reasonable and necessary for Medicare recipients over 60 based on lack of relevant data and... more

Biomet Receives New Round of Federal Subpoenas BY ARIELLA P. GOLOMB, MD, MAY 29, 2007

Just as one DOJ investigation seemed to be coming to a close, Biomet reported late last week that the company is facing new subpoenas from federal prosecutors. The government is requesting documents from as far back as 1999 relating to... more

Star-Ledger: DOJ Settlement Could Come this Summer BY LAUREN UZDIENSKI, MAY 24, 2007

A DOJ investigation into surgeon compensation practices by Biomet, Depuy, Smith & Nephew, Stryker and Zimmer in 2005 could reach a settlement "as soon as this summer," according to the Star-Ledger's John P. Martin. Current terms of the settlement are... more

Orthopedics News Roundup 24-May-07 BY LAUREN UZDIENSKI, MAY 24, 2007

Earnings Medtronic reported FY2007 earnings of $12.3 billion, an increase of 9% over FY2006. Adjusted income was up 10% to $2.8 billion, or $2.41 per share, an increase of 15% over the previous year. For the fourth quarter, revenue was... more

Orthopedic News Roundup 15-May-07 BY LAUREN UZDIENSKI, MAY 16, 2007

Earnings BioMimetic Therapeutics reported a 1Q:07 net loss of $5.7 million or $(0.34) per share, beating estimates of $(0.37) and comparing to a net loss of $3.8 million, or $(2.22) per share, in 1Q:06. The company reported revenues of $0.25... more

Vitamin E Poly Hits The Market BY DAVID KRESSEL, MAY 14, 2007

Biomet announced it gained FDA clearance to market the first vitamin E stabilized highly crosslinked polyethylene acetabular cup liner. Using the trade name E-Poly, Biomet's product uses the antioxidant vitamin E to reduce wear of the poly liner as oxidation... more

Orthopedic News Roundup 26-Apr-07 BY LAUREN UZDIENSKI, APRIL 26, 2007

Earnings Large Joints Zimmer reported income of $233.4 million, or $0.98 per share, beating estimates of $0.93. The quarter compares to a profit of $205.6 million, or $0.82 per share in 1Q:06. Revenue rose 10% to $950.2 million from $860.4... more

Society for Biomaterials a Product Pipeline Crystal Ball BY DAVID KRESSEL, APRIL 24, 2007

Last week, we attended the Society for Biomaterials' annual conference. The event showcases the latest academic research and its broad applications across medical specialties. Roughly a third of the poster presentations focused on orthopedics, and most of the rest related... more

Orthopedic News Roundup 19-Apr-07 BY LAUREN UZDIENSKI, APRIL 19, 2007

Earnings Stryker announced 1Q:07 earnings on Wednesday. Net income increased to $243.5 million, or $0.59 per share, beating analysts' estimates of $0.58 per share. In the comparable quarter, net income was $147.5 million, or $0.36 per share. Revenues increased 13%... more

Orthopedic News Roundup 5-Apr-07 BY LAUREN UZDIENSKI, APRIL 4, 2007

Earnings aap Implantate AG announced 2006 revenues of EUR 18.5 million, up 38% from the previous year. The aap Group attributed the growth to the Biomaterials segment, where sales increased by 64% to EUR 12.2 million. Biomaterials now generates two... more

What Does Backdating Options Really Mean for Biomet? BY LAUREN UZDIENSKI, APRIL 3, 2007

Preliminary findings from an investigation into Biomet's options backdating announced last week showed a $50 million discrepancy between 1996 and 2006, and CFO Gregory D. Hartman and Exective Vice President of Administration Daniel P. Hann have both resigned. What does... more

Orthopedic News Roundup 8-Mar-07 BY LAUREN UZDIENSKI, MARCH 8, 2007

Earnings Orthofix International N.V. announced 4Q:06 revenue of $116.1 million, an increase of 45% over 4Q:05 and just missing estimates of $116.6 million. $28.1 million of 4Q:06's revenue can be attributed to the September 2006 acquisition of Blackstone Medical, Inc.... more

Biomet Hires New CEO BY DAVID KRESSEL, FEBRUARY 26, 2007

Biomet today announced that Jeffrey Binder has been hired as CEO. He will replace Daniel Hann, Biomet's former General Counsel and most recently its Interim CEO. Hann will stay with the company as EVP of Administration and a board member.... more

2007 AAOS Busy as Ever BY ELIZABETH VARLEY CAMP, FEBRUARY 21, 2007

Sunny San Diego hosted this year's AAOS meeting, and with more than 470 exhibitors wall-to-wall on the Convention Center floor, it was the biggest Academy yet. One of our cab drivers said, as we were driving away from the conference... more

Orthopedics News Roundup 8-Feb-07 BY LAUREN UZDIENSKI, FEBRUARY 8, 2007

Earnings Biologics Regeneration Technologies, Inc. reported 4Q:06 revenues of $19.1 million, down 5% from $20.1 million in 4Q:05. The Company reported net loss of $6.7 million, compared to a net lossn of $1.7 million for 4Q:05. Net loss per diluted... more

Biomet Sports Medicine to do License Deal BY JOHN MCCORMICK, FEBRUARY 5, 2007

Today Biomet Sports Medicine announced that it is doing a deal with Marc Tec LLC to acquire access to minimally invasive sports medicine and arthroscopic technologies. Marc Tec is an affiliate of Bonutti Technologies and the deal includes over 45... more

Orthopedics News Roundup 18-Jan-07 BY LAUREN UZDIENSKI, JANUARY 18, 2007

Earnings Lifecore Biomedical reported earnings for the second quarter ending December 31, 2006. Net income fell to $1.37 million, or $.10 per diluted share during the quarter from $1.39 or $.10 per diluted share, in the quarter ending December 31,... more

Orthopedic News Roundup 21-Dec-06 BY LAUREN UZDIENSKI, DECEMBER 20, 2006

M&A Biomet has agreed to a $10.9 billion buyout from a consortium of private investors, including Biomet founder and former CEO Dane Miller, the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts and the Texas Pacific Group. The consortium... more

Dane Miller to buy Biomet for $10.9 billion: 10 Months to Close BY JOHN MCCORMICK, DECEMBER 18, 2006

This morning Biomet's board of directors announced an agreement to be acquired by Dane A. Miller, the company's longtime CEO who was pushed aside in March of this year. Miller and his backers - a consortium of private equity firms... more

Orthopedic News Roundup 14-Dec-06 BY LAUREN UZDIENSKI, DECEMBER 14, 2006

Regulatory CryoLife received FDA 510(k) clearance for its ProPatch™ Soft Tissue Repair Matrix, an announcement that drove its stock up 9%. Among other applications, ProPatch can be used to reinforce tissues repaired by sutures or by suture anchors during tendon... more

Orthopedic News Roundup 2-Nov-06 BY HUYEN NGUYEN, NOVEMBER 3, 2006

Earnings Biologics: Orthovita reported 3Q:06 product sales came in at $11 million, up 32% compared to 3Q:05. Net loss for the quarter was $3.7 million, or a loss of $0.07 per share. The Company beat analysts' EPS estimates by $0.02,... more

SNN Issued a Statement Re: BMET Acquisition Rumors BY HUYEN NGUYEN, NOVEMBER 2, 2006

This morning Smith & Nephew issued a statement confirming speculations that it has been speaking with Biomet. The Company stated that it, "it has held very preliminary talks with the US medical devices company, Biomet Inc. No agreement has been... more

Renewed Talk of Biomet Merger BY ARIELLA P. GOLOMB, MD, OCTOBER 24, 2006

Reuters reported that takeover speculation from the ft.com/alphaville website and trading desks were fueling bullish options trading of Biomet shares. The merger is speculated to involve a "larger company or possibly a private equity bid." Smith & Nephew has been... more

Orthopedic News Roundup 19-Oct-06 BY HUYEN NGUYEN, OCTOBER 19, 2006

Earnings Dental: Lifecore Biomedical announced that 1Q:07 net sales increased 12% to $15 million. Net income for the quarter was $1.1 million, representing a year-over-year increase of 9%. The Company was in-line with analysts' estimates and reported earnings of $0.08... more

Orthopedic News Roundup 21-Sept-06 BY HUYEN NGUYEN, SEPTEMBER 21, 2006

Earnings: Biomet reported its 1Q:07 earnings totaled $0.44 per share (excluding the adoption of the share-based payment) which was $0.01 more than what analysts were expecting. Revenues increased by 5% to $508 million (foreign currency had a $3 million favorable... more

Orthopedic News Roundup 17-Aug-06 BY HUYEN NGUYEN, AUGUST 17, 2006

Earnings: Biologics: Tutogen reported 3Q:06 sales of $10 million and a net loss of $1.1 million, or $0.07 per fully diluted share compared to the same quarter last year. The Company would have experienced breakeven results without ~$1.1 million in... more

Orthopedic News Roundup 10-Aug-06 BY HUYEN NGUYEN, AUGUST 10, 2006

Earnings: Biologics: Orthovita reported 2Q:06 product sales came in at $11.2 million, up 32% compared to 2Q:05. On a non-GAAP basis net loss for the quarter was $5.1 million, or a loss of $0.10 per share. The Company did not... more

Orthopedic News Roundup 3-Aug-06 BY HUYEN NGUYEN, AUGUST 3, 2006

Earnings: Biologics: IsoTis OrthoBiologics reported 2Q:06 revenue of $10.8 million, up 43% compared to $7.5 million in 2Q:05. Its U.S. division grew 22%, while international revenues grew 39%. The Company has three distribution channels: U.S. independent agents, international distributors and... more

Medical Device Space Breathes Sigh of Relief as CMS Issues Inpatient Reimbursement Revisions BY TODD BARTELS, AUGUST 3, 2006

As we have previously discussed in several posts, since April the Center for Medicare and Medicaid Services (CMS) has planned to release new Inpatient Prospective Payment System (IPPS) regulations for FY 2007. Late Tuesday CMS issued this much-anticipated IPPS rule,... more

Orthopedic News Roundup 12-Jul-06 BY HUYEN NGUYEN, JULY 12, 2006

Appointment: Biomet, Inc. appointed Charles E. Niemier as President of EBI's operations following the resignation of its former president, Bart J. Doedens, M.D. Mr. Niemier has been a member of the senior management team and Board of Directors for more... more

More Change at Biomet BY JOHN CHOPACK, JULY 12, 2006

It has been quite a year for Biomet and it doesn't seem be settling down. The Company announced on Wednesday that it had named Charles Niemier as President of its EBI Spine Division. Mr. Niemier will replace Bart Doedens who... more

Smith & Nephew Receives DOJ Subpoena BY ARIELLA P. GOLOMB, MD, JUNE 30, 2006

Smith & Nephew announced today that it had received a subpoena from the U.S. Department of Justice, Antitrust Division, for documents relating to possible antitrust issues over the manufacture and sale of orthopedic implant devices, joining its peers Zimmer, Biomet,... more

Orthopedic News Roundup 29-Jun-06 BY HUYEN NGUYEN, JUNE 29, 2006

Appointment: Spine Wave announced that it has elected Ron Pickard to its Board of Directors. In addition to his role on the Board, Mr. Pickard will be actively involved in key projects including the development and commercialization of Spine Wave's... more

Biomet Reports In-line 4Q:06 BY JOHN CHOPACK, JUNE 29, 2006

BMET reported its 4Q:06 (May fiscal year) financials this week. Earnings totaled $0.46 per share excluding non-recurring items which was in-line with analyst estimates. Revenues increased 7%, as reported, and 10% on a constant currency basis to $540 million which... more

Biomet Also Receives Subpoena BY JOHN MCCORMICK, JUNE 26, 2006

This morning, Biomet announced that it has a subpoena from the Department of Justice, Antitrust Division, requesting documents regarding possible violations of federal criminal law, including possible violations of the antitrust laws, relating to the manufacture and sale of orthopedic... more

Class III Continues for Bone Growth Stimulation BY LAING RIKKERS, JUNE 9, 2006

On Friday, June 2, the FDA's Orthopedic and Rehabilitation Devices Panel met to discuss the RS Medical petition to reclassify noninvasive bone growth stimulators from Class III to Class II. In a 4-2 vote, the panel recommended leaving the bone... more

1Q:06 Final Performance Summary BY HUYEN NGUYEN, MAY 25, 2006

Final results for the 26 publicly-traded orthopedic companies* in 1Q:06 showed that orthopedic sales for first quarter increased by 9.2%, as reported. Now that Medtronic has reported its spine revenues, total aggregated sales for those 26 companies came in at... more

Orthopedic News Roundup 4-May-06 BY HUYEN NGUYEN, MAY 4, 2006

Appointment: Scient'x USA appointed Tracy Brown as Vice President of Sales. Mr. Brown was formerly with Microtek Medical and Stryker Spine, both in the area of marketing and sales. Scient'x, SA is a HealthpointCapital portfolio company. Clinical Update: At the... more

1Q:06 Preliminary Earnings Summary BY HUYEN NGUYEN, APRIL 27, 2006

The first group of orthopedic companies reported their 1Q:06 this week and took in $5.3 billion so far. The total aggregated revenues for the quarter were up by 7% from $4.9 billion in 1Q:05. The industry netted $637.8 million, a... more

Is Biomet Really for Sale? BY HUYEN NGUYEN, APRIL 7, 2006

Biomet was founded twenty-nine years ago with a superb management team including Dane Miller, Ph.D. Dr. Miller became the iconic figure of Biomet and has led the Company on a very successful run with a current market capitalization of $9.5... more

Orthopedic News Roundup 6-Apr-06 BY HUYEN NGUYEN, APRIL 6, 2006

The announcement of Biomet hiring investment bank Morgan Stanley, sent its stock price up 11% in one day. With news of Dane Miller resigning and the Company hiring a banker, there were many speculations suggesting Biomet is for sale. However,... more

Orthopedic News Roundup 30-Mar-06 BY HUYEN NGUYEN, MARCH 30, 2006

Dane Miller of Biomet called it quits a week after releasing its 3Q:06 earnings report. Last week, the Company reported earnings per share (EPS) of $0.43 which was in line with Street's estimate but did not meet analysts' expectation for... more

Dane Miller to Retire BY JOHN MCCORMICK, MARCH 27, 2006

This morning, legendary orthopedic CEO, Dane A. Miller, Ph.D., Biomet's President and Chief Executive Officer and co-founder, announced his decision to retire. He will remain a Director and serve as a consultant. The Biomet Board has appointed Senior Vice President... more

Orthopedic News Roundup 23-Mar-06 BY HUYEN NGUYEN, MARCH 23, 2006

This week at HealthpointCapital, we compiled a brief synopsis of the 2006 Orthopedic Industry, projecting that total revenue in 2006 will grow by 12% for the year. Appointment: Two notable extremities companies named their new CEOs this week: Wright Medical... more

Analyst Meetings during AAOS BY KAREN FEDER, FEBRUARY 23, 2006

Looking ahead to the AAOS 73rd Annual Meeting on March 22-26, 2006 taking place at the McCormick Place Convention Center in Chicago, we wanted to post the latest information on Company Analyst meetings that will be held in Chicago: -... more

Biomet Gets FDA Approval BY SHELLY ACHAIBAR, JANUARY 6, 2006

Biomet received FDA approval for the C2a-Taper Acetabular System, a ceramic-on-ceramic hip replacement system. Biomet's FDA approval follows Stryker, Wright Medical, Encore Medical, Smith & Nephew and Zimmer. President and CEO Dane A. Miller, Ph.D. stated, "We are pleased to... more

Biomet Reports its 2Q:06 Financials; Misses Analyst Expectations by $0.02 BY JOHN CHOPACK, DECEMBER 22, 2005

Biomet reported that earnings-per-diluted share (EPS) totaled $0.41 for the 2Q:06 which was $0.02 below the $0.43 analyst's were forecasting. Revenues for the quarter increased by 8% and totaled $494.7 million which was slightly below analyst estimates of $503.5 million.... more

Orthopedic News Roundup 1-Dec-05 BY HUYEN NGUYEN, DECEMBER 1, 2005

Appointment: OrthoSoft announced that Max Link has joined its Boards of Directors. With over 25 years of experience, Mr. Link is a very well-recognized individual in the medical device and pharmaceutical industry. He was CEO and Chairman of Centerpulse when... more

Update on Surgeons' Subpoenas (DOJ Investigations) BY SUSAN BERSON, NOVEMBER 9, 2005

[Editor's note: We welcome attorney Susan Berson of Mintz, Levin as a guest blogger. See her profile here.] Earlier this year, the government announced investigations of several device manufacturers charging that the manufacturers were offering inappropriate incentives to referring physicians... more

Implant Pricing: Not Black and White (EDITORIAL) BY JOHN MCCORMICK, OCTOBER 21, 2005

Is Wall Street's shrill reaction to hip and knee implant pricing concerns overblown? Even with sophisticated econometric tools such a question is difficult to evaluate because we are dealing with an expectations driven phenomenon. So we have our doubts about... more

Orthopedic News Roundup 06-Oct-05 BY HUYEN NGUYEN, OCTOBER 6, 2005

While Medtronic was the big winner this week, Wright Medical ("WMGI") captured more headlines with two important news items that have negatively impacted their stock price. On Wednesday, WMGI's stock price suffered a huge loss with 20% decline intraday due... more

Orthopedic Stocks Decline: Our Thoughts BY JOHN CHOPACK, SEPTEMBER 30, 2005

The decline in the valuations of the orthopedic stock prices has reached epic proportions. The 7 leading orthopedic companies which derive a majority of their revenues from hip and knee sales are on average 30% off their 52-Week Highs. Biomet... more

Novel Products to Rejuvenate Hip Market Growth BY JOHN CHOPACK, SEPTEMBER 21, 2005

The rate of growth in the hip market has been somewhat lackluster since the 2Q:04. That quarter marked the first two FDA approvals for ceramic-on-ceramic hips for Stryker and Wright Medical. For the 12 months prior to the 2Q:04, Stryker... more

Orthopedic News Roundup 01-Sept-05 BY HUYEN NGUYEN, SEPTEMBER 1, 2005

This week, we decided to post the Orthopedic News Roundup for Thursday, instead of Friday due to the upcoming holiday. Clearly the biggest headline this week is the announcement of a take-over bid by Musculoskeletal Transplant Foundation ("MTF") for Osteotech... more

Orthopedic News Roundup 29-Jul-05 BY HUYEN NGUYEN, JULY 29, 2005

Earnings: Please refer to the table (below) for individual company sales and earnings. It's all about earnings this week... Biologics: Clearly, the big winner this week is LifeCell Corp. who reported strong earnings on Monday stock was up 24% at... more

AOSSM 2005: A Sports Medicine Trip Report BY JOHN MCCORMICK, JULY 15, 2005

Perhaps the most startling innovation of this years AOSSM sports medicine conference was a palm pilot kiosk where surgeons and exhibitors could beam the entire conference program and floorplan into their cellphones and PDAs in about 30 seconds. Immediately addicted,... more

Orthopedic News Roundup 1-Jul-05 BY HUYEN NGUYEN, JULY 1, 2005

Anika Therapeutics got hit earlier this week due to First Albany downgrading the stock from buy to neutral; stock dropped 13% at the close. Meanwhile, Biomet reported its 4Q:05 and FY ends: spinal revenues increased by 27% and 34%, respectively.... more

Biomet Revises 4Q:05 Earnings Guidance Downward BY JOHN CHOPACK, JUNE 21, 2005

Biomet announced last evening that it was reducing its 4Q:05 earnings guidance as a consequence of hitting the low end of its previous range for 4Q:05 revenues. The Company stated that revenues totaled $503 million for the 4Q:05 which is... more

Hip Resurfacing in the U.S.? BY JOHN CHOPACK, JUNE 8, 2005

About six months ago I had an individual come into my office asking about an article he had recently read in a local newspaper regarding hip resurfacing. The man was approximately 40 years old and was too young for a... more

Biomet (BMET:NASDAQ) Reports 3Q:05 Results; Knee Revenues Increase 31% BY JOHN CHOPACK, MARCH 28, 2005

Biomet reported an 18% increase in net sales which totaled $482 million during the 3Q:05. The company also reported earnings, excluding any one-time costs associated with its recent Interpore Cross or Biomet Merck acquisitions, totaled $0.40 per diluted share which... more

4Q:04 Orthopedic Wrap-up BY JOHN CHOPACK, MARCH 14, 2005

We have aggregated the 4Q:04 and 3Q:04 reported revenues (includes the effects of foreign currency) for 16 public orthopedic companies. Although we would have liked to use revenue growth rates which excluded foreign currency, a majority of the companies report... more

2005 AAOS Analyst Meeting Reviews BY JOHN CHOPACK, MARCH 1, 2005

This year we attended Smith & Nephew's, Biomet's, Stryker's, and Encore Medical's analyst meetings. All were very professional and well attended. Here are our notes from each: Smith & Nephew Overview: Although Smith & Nephew posted the best large joint... more

Direct-to-Consumer Advertising Takes Hold in Orthopedics | EDITORIAL | BY JOHN CHOPACK, JANUARY 24, 2005

Direct-to-consumer advertising has become the most powerful means of marketing pharmaceuticals over the last decade. For years we have seen these strange advertisements which typically only mention the name of a drug and the manufacturer, but withhold any information regarding... more

Biomet (BMET:NASDAQ) Reports 2Q:05 Adjusted Earnings of $0.38 which is In-line with Analyst's Expectations. BY JOHN CHOPACK, DECEMBER 20, 2004

BMET reported adjusted earnings-per-share of $0.38 during the 2Q:05 which was a 19% increase over the 2Q:04. The adjusted earnings do not include certain non-recurring costs associated with the acquisition of Merck KGaA's interest in Biomet Merck and the acquisition... more

The 3Q:04 Earnings Season is Half-way Completed for Large Joint Manufacturers: Any Trends? BY JOHN CHOPACK, OCTOBER 25, 2004

Three of the seven leading large joint orthopedic manufacturers have reported their 3Q:04 financials. So far, market growth rates on a constant currency basis remain in-line with the growth rates reported by industry leaders DePuy, Biomet and Stryker in the... more

Biomet (BMET: NASDAQ) Beats Analyst's 1Q:05 Earnings Expectation by $0.01 Per Share BY JOHN CHOPACK, SEPTEMBER 20, 2004

BMET reported adjusted earnings of $0.36 which excluded the acquisition of Biomet Merck joint venture and Interpore International. This was an increase of 20% over the 1Q:04 and $0.01 better than consensus estimates. However, BMET's revenues of $438 million, which... more

Biomet (BMET:NASDAQ) Beats the Street by $0.01 in EPSand $16 Million in Revenues BY JOHN CHOPACK, JULY 12, 2004

Biomet announced that revenues totaled $447 million for the 4Q:04 and $1.6 billion in 2004 representing a 19% and 16% increase, respectively. Adjusted earnings (for the acquisitions of Merck Joint Venture and Interpore Cross) per share totaled $0.37 for the... more

Good-Bye Interpore Cross BY ROBIN R. YOUNG CFA, JUNE 21, 2004

20 years ago, Interpore brought to market coral based bone void fill. The coral, which remains in abundant supply, came from some distant south pacific atoll. But what really turned the money key initially, and later the interest of shareholders,... more

A Review of the Five Largest Orthopedic Companies' 1Q:04 Financial Results BY JOHN CHOPACK, MAY 17, 2004

We tabulated the five largest general orthopedic companies' financial results for the 1Q:04. The companies include Stryker, Zimmer, Biomet, Smith & Nephew and Wright Medical, each of which has a market capitalization in excess of $1 billion. Although many subscribers... more

The 2004 AAOS Whirlwind BY JOHN CHOPACK, MARCH 22, 2004

The 2004 American Academy of Orthopedic Surgeons hit with the speed and intensity of a tornado. It wasn't a destructive tornado but rather a whirlwind of innovative technology and merger activity. Biomet (BMET:NASDAQ) couldn't wait for the official Academy to... more

Bye-Bye Interpore Cross BY ROBIN R. YOUNG CFA, MARCH 8, 2004

The last remaining, full line public spinal implant company is gone. This morning Biomet agreed to pay $280 million or 3.6x 2004 revenues (36x expected 2004 EBITDA) for Interpore Cross. This transaction, assuming it is completed, will vault Biomet into... more

Interpore's 2003 Spine Sales +21%, but Weak Biologics Undermine Full Year Results BY ROBIN R. YOUNG CFA, FEBRUARY 23, 2004

Interpore Cross sold $44.6 million of spinal implants (not counting bone void fill) in 2003, a 21% increase over its level in 2002. Industry-wide, we estimate spinal implant sales rose 29% to $2.8 billion in 2003. Interpore's market share, we... more

Biomet Reports 14% Sales Increase BY EDITOR, DECEMBER 22, 2003

Biomet (BMET:NASDAQ) reported its 2Q:04 financials on Thursday. As a consequence of not reporting financials based on a calendar fiscal year, BMET is the earliest to report their quarter. Therefore, both analysts and orthopedic investors pay close attention to BMET... more

Orthopedics Growing 2.5x Faster than U.S. GDP BY EDITOR, NOVEMBER 3, 2003

For the third quarter, with three more companies yet to report, public orthopedic companies have reported that their sales grew 17.5% on a year-over-year basis. To put that into perspective, U.S. GDP grew at a 7.2% annual rate in the... more

Biomet's Announcement Offers 3rd Quarter Preview BY EDITOR, SEPTEMBER 22, 2003

What makes the Orthopedic Industry's current renaissance so interesting is not only how unexpected it is, but how unexpectedly broad and deep it is. Unlike the cardiovascular industry, which is riding the drug coated stent phenomenon, orthopedic revenues are bubbling... more

Is Biomet the bargain of the Industry? BY EDITOR, AUGUST 25, 2003

Is anyone paying attention to Biomet? With Stryker at 38x earnings, Zimmer at 31x earnings and little ol' Wright Medical (3% market share) at a whopping 48x earnings, why is Biomet at 26x? Those, by the way, are trailing 12... more

It's going to be a great Quarter, Year and Decade BY EDITOR, JULY 14, 2003

Despite being asked by the Merrill analyst to comment on the prospects for the Next Gen product (manufactured by Zimmer... oops, she meant Next Generation), Biomet's CEO, Dane Miller, was his usual wry self as he announced that overall sales... more


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