We're listening. In response to your feedback on our 2009 readership survey, we're broadening the dental coverage on our blog. You can help by letting us know what you think or directing your press releases and scientific articles to Lauren... more
Venture capital companies believe the dynamics and fundamentals and the medical technology industry haven't changed, even though the economic crisis is causing a revaluing of assets. Many VC-backed companies are expecting down rounds, particularly as midstage assets are revalued. These... more
As you might expect in times of economic uncertainty, companies are taking a hard look at their expenses and questioning what is essential and what is not. One of the areas that is under the microscope is spending on conference... more
If any spine surgeon congress serves as a litmus test on sentiment concerning new surgical technology, the Spine Arthroplatsy Society ("SAS") meeting is the one. SAS was founded nearly 10 years ago by forward thinking surgeons and technology developers seeking... more
Patients suffering crippling pain from metastatic cancer or even "benign" conditions like rheumatoid arthritis may find relief in a minimally-invasive treatment called osteoplasty. Similar to vertebroplasty, osteoplasty is the injection of bone cement into cancerous lesions in the skeleton, and... more
Yes, that ozone. The molecule that filters UV rays in the atmosphere and is a pollutant on the ground could have applications for reducing back pain, according to new studies out of Europe. Over the past five years, it is... more
The orthopedic industry convened in Las Vegas last week for what was a slightly quieter AAOS than we've seen in recent years, shadowed by worries about the economy. More than new products and deals, the tone at this year's conference... more
Earnings Artimplant reported 4Q:08 revenues of SEK 4.6 million ($0.6 million), down from SEK 5.0 million ($0.8 million) in 4Q:07. During the quarter, the company reported sales of 900 Artelon Spacers (down from 1,100 in 4Q:07) and 300 units of... more
Robin Young's Fourth Annual Stem Cell Summit was about as far removed as you could get from the grim economic headlines. Companies at the summit were presenting in the halo of a market forecast suggesting that this current $65 million... more
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
Greetings from Suzhou! Yes that Suzhou - in China. To follow the orthopedic surgeon, China was the place to be this month. While we know this formidable nation always surpasses expectations, we were truly blown away by the Chinese Orthopedic... more
Last week we attended NASS in Toronto, where we saw the launch of a number of new products as well as the release of new clinical data and the first wave of 3Q:08 earnings results. M&A M&A news was quiet... more
Three weeks ago, we attended the Olympics of spine conferences - otherwise known as Spineweek. Organized every four years, Spineweek brings together in one location the annual meetings of leading spine societies around the world. This year’s participating societies included,... more
Clinical research presented at AAOS's annual meeting included a number of large-joint studies, one of which showed that hip and knee replacement procedures will climb to 572,000 and 3.4 million, respectively, in 2030. That's 101% more hip replacements and 525%... more
As always, last week's AAOS conference brought a flurry of press releases. To recap: Acquisitions Wright Medical Group announced plans to acquire INBONE Technologies for an initial $24.0 million payment plus additional milestone payments. Product Launches Biologics ETEX launched Beta-bsm... more
2008's AAOS conference was packed with physicians and industry representatives (perhaps to make up for all those left snowbound last year?), though the tone of the meeting was a little quieter than years past. Since last year's meeting, deferred prosecution... more
Recently ArgoSpine held its 12th annual symposium, gathering top spine surgeons from around the globe to discuss the latest technologies and treatment practices. This conference focused on complications in spinal surgery, paying special attention to vascular and nervous system damage,... more
We just returned from the Greater New York Dental Meeting, held at the Jacob Javits Center in Manhattan every year, on the weekend and week following Thanksgiving. Unlike most of the dental meetings we attend, which focus heavily on dental... more
We attended the American Academy of Periodontology meeting this past week in Washington DC. Although there weren't any revolutionary introductions, we noticed a few trends from the exhibit hall. *Straumann featured its first bone level implant and the etkon system.... more
Last week, six members of our firm attended the North American Spine Society (NASS) annual meeting in Austin, TX talking to surgeons, companies and scientists about the latest technology, market and clinical developments in the spinal implant industry. We are... more
Earnings ArthroCare Corp. reported 3Q:07 total revenues of $78.5 million, an increase of 21% over the comparable quarter. Revenues missed estimates by $0.11 million. The company reported net income of $11.1 million, or $0.39 per share, up 28% over 3Q:06... more
We attended the 5th Annual Musculoskeletal New Ventures conference this week in Memphis, home of Elvis, FedEx and Gibson Guitars. There were 190 attendees (same level as last year), including many of the orthopedic industry’s development leaders. Among them were... more
M&A With certain conditions, the FTC will allow Kyphon to proceed with its planned acquisition of Disc-O-Tech Medical Technologies and Discotech Orthopedic Technologies Inc. Kyphon was directed to sell Disc-O-Tech's Confidence product lines to address antitrust concerns. When Kyphon announced... more
M&A Orthofix acquired the rights to all of the intellectual property related to the InSWing™ interspinous process spacer. InSWing is designed to relieve pain associated with lumbar spinal stenosis and can be used in a minimally invasive surgical procedure. Orthofix... more
Calgary was the host city for this year's AOSSM conference last week, which coincided with the Stampede, the world's largest rodeo event. No Calgary citizen seemed to be working this week; all were enjoying perfect weather, pancake breakfasts and BBQ... more
Regulatory Life Spine announced 510(k) clearance for its static anterior cervical plating system Neo®-SL. The system features an integrated lock that allows bone screws to be securely fixated without any additional locking components. The FDA approved new labeling for Genzyme's... more
Nobel Biocare held its biannual World Conference in Las Vegas earlier this month. Typically, implant-focused organizations like the American Academy of Implant Dentistry typically have less than 5,000 attendees at their meetings, but Nobel hosted 10,000 in the largest implant-focused... more
We attended last week's American Academy of Cosmetic Dentistry (AACD) annual meeting. It is the leading cosmetic dentistry event of the year, with roughly 5,000 dentists in attendance. There were over 100 clinical seminars and live patient-based procedure training; some... more
Last week's Medical Device Manufacturers Association Annual Meeting in Washington, D.C. gave us an opportunity to applaud the passion and dedication that defined MDMA's past accomplishments and will carry future negotiations on regulatory, reimbusement and marketplace issues for smaller device... more
Earnings Spine Kyphon reported that worldwide revenues in 1Q:07 increased 40% to $128.1 million, which includes $18.1 million in X-STOP® Interspinous Process Decompression (IPD®) sales from the St. Francis acquisition. In the U.S., revenues increased 34% to $101.1 million, while... more
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
Last week, Cologne Germany was host to the International Dental Show (IDS). This is the world's premier dental trade show, drawing 80,000 people to the Kolnmesse, one of the world's largest convention centers, every two years. Attendees included dentists, dental... more
Earnings Biologics LifeCell reported 4Q:06 product revenues of $39.3 million, an increase of 45% over $27.0 million in 4Q:05, but missed analysts' estimates of $39.5 million. The growth was attributed to increased demand for the Company's AlloDerm® Regenerative Tissue Matrix.... more
Earnings Medtronic reported 3Q:07 (ended 1/26/07) Spinal and Navigation revenue of US $629.0 million, and the Spinal segment increased 12% over 3Q:06. Growth was attributed to the Biologics product line and the CD HORIZON® LEGACY™ family of products, which includes... more
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
Earnings Tutogen announced results for first fiscal quarter ending December 31, 2006. Total revenues increased 43% to $11.5 million, compared to $8.0 million in the comparable quarter of fiscal year 2006. U.S. revenues increased 50%, and international revenues increased 27%... more
View a list of earnings conference calls and webcasts for the publicly traded orthopedic and dental companies. more
With AAOS 2007 nearly upon us, we've summarized the analyst meetings calendar below: Wednesday, February 14, 2007 Smith & Nephew Analyst and Investor Breakfast 8:00 a.m., San Diego Marriott Hotel and Marina Zimmer Analyst Meeting 5:00 p.m., Manchester Grand Hyatt... more
Last week we attended the 9th Annual MDMA Coverage Reimbursement and Health Policy Conference in Washington D.C. As we've previously discussed, the MDMA events are a terrific opportunity for small- to medium-sized device companies to network, provide insight on topical... more
View a list of earnings conference calls and webcasts for the publicly traded orthopedic and dental companies. more
For those of you who have never attended an American Dental Association annual meeting, we wanted to provide an overview of the event based on this year's 147th Annual Session. Who was there? The event was enormous. There were close... more
The final event of the MNVC was a surgeon panel, hosted by Mike Sherman, Executive-In-Residence at MB Ventures and formerly of Medtronic. The panelists were Dr. Kevin Foley of University of Tennessee, Dr. Hal Matthews of the Medical College of... more
This afternoon at the MNVC, Jeff Barnes of Oxford Bioscience Partners moderated a lively VC panel. The three panelists were Dave Stassen, Managing Partner at Split Rock Partners, Trevor Moody, General Partner at Frazier Healthcare Ventures, and Rich Ferrari, Managing... more
Greetings from the 4th annual Musculoskeletal New Ventures Conference in Memphis, Tennessee. This year's conference has a record 195 attendees (compared to 145 last year) and presentations by 23 venture-backed start-ups, one recent IPO (BioMimetic Therapeutics) and four leading device... more
With the 2006 NASS meeting winding down, we thought we'd share some highlights from Seattle. SPORT Clinical Trial Session a Tease On Wednesday, the two-hour, much-anticipated session on SPORT results focused on SPORT background information - but not the data... more
Appointment: Ranier Technology Limited has appointed John C. Moran to its Board of Directors. Previously, Mr. Moran was a President of Synthes Spine and a Director of Spine Solutions, Inc. Active Implants Corporation (AIC) has hired Richard Treharne, PhD. as... more
Below is the table of company earnings conference calls and webcasts for the investment community (replay info. also available). Mark your calendar for next week when most companies will be reporting. Company Ticker Symbol ConferenceCall Date/Time Dial-in Number /Passcode -... more
This past weekend we attended the 22nd Annual Summer Meeting of the American Orthopaedic Foot & Ankle Society in La Jolla (AOFAS). The conference ran from July 14-16, 2006 at the Hilton Torrey Pines Hotel and there were approximately 400... more
On June 14th and 15th, we attended the Medical Device Manufacturers Association (MDMA) Annual Meeting. The organization provides medical device entrepreneurs an opportunity to have their voices heard on the hill. Innovation in our industry generally comes from the smaller... more
This week, DePuy Spine and many patients were excited to hear that the Centers for Medicare and Medicaid Services (CMS) has agreed to local coverage of DePuy's Charite artificial disc for patients under 60 years of age. According to CMS,... more
Below is the table of company earnings conference calls and webcast for the investment community. We also have replay information for companies that have already reported. Make sure you remember to mark your calendar for April 26 & 27, most... more
Kevin Bozic, MD of UCSF presented the impact of Direct to Consumer Advertising (DTCA) in Orthopedics during the Health Policy Symposium at AAOS. Since the FDA issued a draft guidance for consumer directed advertisements in the late 90's, first pharmaceutical... more
One of the most informative sessions at AAOS was a section of the Health Policy Update Symposium delivered by William L. Healy, M.D. of the Lahey Clinic. Healy gave real-life examples of the complicated and delicate balance of hospital economics,... more
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
In addition to the Top Sessions we chose, we have added AAOS presentations by our Scientific Advisory Board members. Please click on the link at the bottom to view the entire list. Wednesday, March 22 10:30 AM - 12:30 PM127Changing... more
With the AAOS in Chicago fast approaching, we have put together a list of "Hot Sessions" to check out. Please click on the link at the bottom to view the entire list. Adult Reconstruction, Hip and KneeSunday, March 26, 2006... more
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
We were able to attend the 80th Annual S.O.F.C.O.T. Conference in Paris, France last week. We found the conference both informative and entertaining in catching up with previous contacts and meeting new management teams. We were surprised to see the... more
For those who are interested, we would like to update you on the company quarterly earnings calendar for Q3. Company Ticker Symbol ConferenceCall Date/Time Dial-in Number /Passcode - Webcast Replay Dial-in #Reservation Code - Archive Audio Webcast--> Comments(Replay Info Only)... more
We recently attended the 3rd annual Musculoskeletal New Ventures Conference in Memphis, hosted by MB Ventures and Memphis Bioworks. The conference brought startups, VCs, Wall Street analysts, large public company execs and other industry watchers together for two days to... more
NASS Notes The North American Spine Society's 20th Annual Meeting in Philadelphia had a mature and thoughtful character this year compared to the fever pitch of prior meetings. The theme of this year's meeting was physician responsibility with major speeches... more
Please find below a list of important orthopedic conferences for 2006 & 2007. 2006 ORTHOPEDIC CONFERENCES 2006 Date Conference & Web Link Location Dec 12 - 17 27th Annual Society of Military Orthopaedic Surgeons Annual Conference (SOMOS) Kissimmee, FL Dec... more
It's all about spine this week. With NASS in full swing in Philadelphia, many companies eagerly issued press releases during the conference. Clinical: Cervical-Stim® is a post-operative cervical brace that generates a uniformed, low-level pulsed electromagnetic field (PEMF) at the... more
It's all about spine this week. With NASS in full swing in Philadelphia, many companies eagerly issued press releases during the conference. Clinical: Cervical-Stim® is a post-operative cervical brace that generates a uniformed, low-level pulsed electromagnetic field (PEMF) at the... more
On November 1 and 2, 2005 the FDA will hold a two-day public meeting on direct-to-consumer ("DTC") advertising of prescription drugs and medical devices. The FDA is requesting comments from interested individuals and/or groups that are most affected by DTC... more
We attended the 4th Annual Emerging Technologies in Spine Surgery conference on Friday in Washington DC. The topics were: biologics, MIS, and disc replacement and other non-fusion technologies. Some points of interest: *Biologics: The first discussion within biologics was a... more
The North American Spine Society ("NASS") meeting this year is overwhelming us all with clinical and technology learning opportunities at the various sessions and meetings this year. We have taken the liberty of narrowing down the hundreds of sessions... more
Due to the recent tragedy in New Orleans, AAOS has announced a new meeting location for its 73rd annual meeting. The 2006 AAOS Annual Meeting will be held in Chicago, Illinois on March 22-26 at McCormick Place.... more
This is our final report regarding the Orthopedic Intelligence Conference conducted by Sg2. We wanted to highlight what we considered to be the most significant aspect of the conference -- gainsharing -- a hot topic that has received significant attention... more
Reflections on the Inaugural Meeting of the Sisyphean Spinal Society We were honored to attend the inaugural meeting of the Sisyphean Spinal Society ("SSS") which was held on July 14th-17th in Bermuda. SSS is a non-profit organization dedicated to research,... more
Thanks to one of our readers who reminded me that I should add international dial-in numbers to the conference calls list. Since most of the companies have already reported their earnings, I am providing you with replay information in case... more
John Cherf, M.D., a clinical advisor for Sg2, presented the top ten trends in orthopedics. This included: 1) Specialty Hospitals Resuscitated 2) Eradicating Wrong-Site Surgery 3) Medical Malpractice Reform Is Still Alive 4) Payment to On-Call Specialists 5) The COX-2... more
Stan Mendenhall, editor and publisher of Orthopedic Network News, is recognized as one of the leading providers of orthopedic data. Many people find a vast majority of his data useful, but one chart (Chart 1) has especially gained significant popularity... more
Sg2 is a consulting and education company which analyzes emerging clinical developments, technological advancements and market trends to help their clients make informed business decisions. They recently put on a one day conference as part of their Orthopedic Intelligence Program.... more
Greetings from the SG Cowen and ISI Health Care Policy Conference in Washington D.C. It's been a full day covering Medicare, Medicaid, FDA, Specialty Hospital Policy and Gainsharing. We've heard from Representative Pete Stark (D-CA) and Senator Debbie Stabenow (D-MI),... more
We think reimbursement and regulatory issues are critical in orthopedics. On June 30th, John McCormick and I will be attending the SG Cowen and ISI Health Care Policy conference in Washington D.C. It looks like a great set of speakers... more
Last week we joined the droves of neurosurgeons at AANS in New Orleans to check out papers, presentations, posters and product. Always a quiet and less populated conference compared to the annual NASS spine meeting, AANS offers a hard science... more
The 2005 American Academy of Orthopaedic Surgeon Annual Conference was unique to recent meetings. It was louder in terms of the amount of marketing, size of exhibits and mass advertising, yet it was quieter in terms of business development and,... more
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
Overwhelmed with all the education opportunities? Join the club. Good news for you, though - the HealthpointCapital research team has whittled down the program to 26 of the most controversial and best-hosted side sessions. Minimally Invasive Breaks Out Every year... more
It's here again, the annual AAOS conference. Thousands are ready to descend on Washington, D.C. the week of February 21st to learn of new surgical techniques, new products and to develop business and relationships. While it is hard to predict... more
This is a copy of the key note address I presented at last week's InSpine conference in Dallas. That conference, which was organized by Sharon O'Reilly's excellent MedTech Insights group and co-sponsored by Dr. Stephen Hochschuler's Texas Back Institute and... more
The word in the aisles at NASS was that two private companies were "hot": Globus Medical and K2. But one company was "lava hot". Blackstone Medical. Now the largest private spinal implant company in the industry at $50 million in... more
NASS Notes
BY ROBIN R. YOUNG CFA
The largest conference of spinal surgeons and the companies that supply them is the North American Spine Society conference. This year's soiree in Chicago seemed smaller than prior years. At first we thought it was due to the recent M&A... more
Since its introduction, more than 91 million prescriptions for VIOXX have been written in the United States for patients with arthritis pain in either the hip or knee. If one were to include all the prescription Cox-2 inhibitor drugs like... more
It's conference season. Between now and the end of the year there is essentially one conference per week featuring orthopedic companies. One can only wonder who is managing the store while these CEOs and CFOs are out slinging PowerPoint Presentations.... more
Biomaterials are a disruptive technology platform. Consider the effect of titanium implants on stainless steel. Better yet, consider the effect of ceramics today on titanium. Ceramics represent an incremental $2,000 - $4,000 in revenue per implant over titanium and an... more
It's been an extraordinary year for companies that employ or supply biomaterials. Sales are now running at a rate of $6 million per day and will, we believe, accelerate in 2005 with a new generation of growth factors, cartilage repair... more
Over 2,000 scientists and entrepreneurs from 43 countries converged on Sydney, Australia last week to advance the extraordinary science and practice of biomaterials. Over 2,000 papers and posters were submitted representing some of the finest biomaterials science in the world.... more
By Wednesday the most popular document circulating the floor of AANS was a crossword puzzle followed by USA Today's sports section. Compared to AAOS (which was like Times Square), AANS was a monastic retreat; for the exhibitors. For surgeons it... more
Phase III clinical trial data for JNJ's Charite artificial lumbar disc was presented last week at the AANS/CNS conference in San Diego. This equivalency study compared patients having the Charite with patients with the BAK Intervertebral body cage (see table... more
Stryker Corp. (SYK:NYSE), in similar fashion to last year, brought and introduced a majority of its operational leaders of its various operating divisions. However, a significant portion of the analyst meeting, especially Q&A, centered around Stephen MacMillan, President & COO,... more
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
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
At the 78th annual reunion of the Société Française de Chirurgie Orthopédique et Traumatologique (SO.F.C.O.T.) held last week in Paris, the focus was clearly on new materials - ceramics, plastics and biologics. And among the most successful new materials companies... more
The North American Spine Society is the premier conference for the fastest growing sector of orthopedics. History was being made almost daily at this year's NASS Conference as scientists, surgeons and other participants wrestled with major therapeutic issues. This industry... more
All that was missing was mud and rain. We even had the crowds and chemical enhancements (basically caffeine). Certainly from the organizers perspective, crowded halls and rooms (standing room only usually) were mighty gratifying. From the attendees standpoint... we needed... more
Presenting at our October 9th Spine Summit will be, in no particular order: The most innovative supplier of hemostatic products for the spine that no one has heard of. The best surgical assist (a semi-robot) for spine surgeons we've ever... more
Based on the dynamic duo of demographics and technological innovation (specifically disc arthroplasty and minimally invasive surgical tools and techniques) spine industry revenues will, we estimate, rise from $2 billion currently to $7.2 billion by 2012. Who will be the... more
See you at the Summit!! It's been an extraordinary year for the Spine industry. CMS finally approved an add-on payment for InFUSE™. Just a few months ago Spine Solutions, a development stage company, sold to Synthes for $350 million. Link... more
Complete Archive
The latest news from AAOS! VITA and MAKO report 4Q09 . . . ETEX receives 510(k) . . . DePuy, Integra, Medtronic, Smith & Nephew and more announce product launches . . . SEC Drops Wright Medical Investigation . . . BioMimetic Therapeutics shares study results . . . Long-term use of bisphosphonates may increase fracture risk . . . NeoStem wins research grant 