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Orthopedic and Dental Industry News Complete Archive »

Kyphon

Hospitals to Settle with Federal Government over Fraudulent Billing Scheme BY ANDREW VAHRADIAN, JULY 9, 2013

Fifty-five hospitals in 21 states will be paying a total of $34 million to the federal government in order to settle allegations that they overcharged Medicare and other government healthcare programs for kyphoplasty back procedures. The settlements were the result... 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

DOJ Investigates Kyphoplasty Claims Over Alleged Medicare Violations BY LAUREN UZDIENSKI, JULY 16, 2009

According to the Report on Medicare Compliance, the DOJ is conducting an investigation into Medicare inpatient claims for kyphoplasty at hospitals nationwide. The probe stems from a whistleblower lawsuit from two former Kyphon sales and reimbursement managers who claimed that... more

Musculoskeletal News Roundup 28-May-09 BY LAUREN UZDIENSKI, MAY 28, 2009

Regulatory Blackstone Medical received an FDA warning letter relating to the ICON Modular Spinal Fixation System, which the company voluntarily recalled in December of 2005. The FDA said Blackstone failed to adhere to its own risk management procedures and failed... more

Musculoskeletal News Roundup 20-Nov-08 BY LAUREN UZDIENSKI, NOVEMBER 20, 2008

Earnings Medtronic reported FQ2:09 revenues of $3.57 billion, up 14% (8% constant currency) over the year-ago period and missing estimates by $0.12 billion. Non-GAAP net earnings and diluted earnings per share were $758.0 million, or $0.67 per diluted share, missing... more

Musculoskeletal News Roundup 22-Oct-08 BY LAUREN UZDIENSKI, OCTOBER 22, 2008

Earnings CONMED reported 3Q:08 revenues of $179.4 million, up 9% over the year-ago period and beating estimates by $2.95 million. Arthroscopy was up 18% (17% constant currency), contributing $69.5 million to total sales. On a non-GAAP basis, diluted earnings per... 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 22-May-08 BY LAUREN UZDIENSKI, MAY 22, 2008

Earnings Medtronic reported FQ4:08 revenue of $3.86 billion, representing an 18% increase over the year-ago period and beating estimates by $0.14 billion. Currency translation had a positive impact of $160.0 million. Adjusted net earnings for the quarter were $884.0 million,... more

Musculoskeletal News Roundup 21-Feb-08 BY LAUREN UZDIENSKI, FEBRUARY 21, 2008

Earnings ArthroCare reported 4Q:07 revenues of $87.5 million, beating estimates by $1.7 million, representing a 25% increase over the year-ago period. Net income was $14.5 million, or $0.50 per diluted share, missing estimates by a penny and representing a 78%... more

Musculoskeletal News Roundup 21-Nov-07 BY LAUREN UZDIENSKI, NOVEMBER 21, 2007

Earnings Medtronic reported FQ2:08 revenue of $3.12 billion, beating estimates by $0.02 million and representing a 2% increase over the year-ago period. Net earnings for FQ2:08 were $666.0 million, or $0.58 per diluted share, beating estimates by $0.02 but down... more

Musculoskeletal News Roundup 8-Nov-07 BY LAUREN UZDIENSKI, NOVEMBER 8, 2007

Earnings Anika reported 3Q:07 product revenues of $7.28 million, up from $5.49 million in 3Q:06. The company attributed the sales growth to strong domestic and international sales of ORTHOVISC®. Net income for 3Q:07 was $1.8 million, or $0.16 per diluted... more

Medtronic and Kyphon Complete Merger BY LAUREN UZDIENSKI, NOVEMBER 2, 2007

Medtronic announced today the completion of their acqusition of Kyphon. News of the closing comes earlier than expected; at the time the merger was first announced, Medtronic anticipated a 1Q:08 closing. Stockholders will receive $71.00 per share in cash for... 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

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 20-Sept-07 BY LAUREN UZDIENSKI, SEPTEMBER 18, 2007

Earnings AOI Medical reported a 1H:07 loss of $1.8 million, increasing from a loss of $0.97 million in the comparable half. The company attributed the loss to increased expenses. They expect their product, the Balloon Assisted Management of Spine Fractures,... 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

CMS Finalizes 2008 Reimbursement Increases BY LAUREN UZDIENSKI, AUGUST 2, 2007

CMS released its final rule for the FY2008 Inpatient Prospective Payment System (IPPS). As we noted when the draft rule was announced in April, ortho payments will mostly increase next year. The rule also confirms that CMS will implement new... more

Orthopedic News Roundup 3-May-07 BY LAUREN UZDIENSKI, MAY 3, 2007

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

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

Orthopedics News Roundup 1-Feb-07 BY LAUREN UZDIENSKI, FEBRUARY 1, 2007

Earnings Kyphon Inc. announced 4Q:06 sales totaling $112.6 million, an increase of 31% over the $85.8 million in net sales reported for the 4Q:05. Net income for 4Q:06 increased 228% to $12.2 million, or $0.26 per diluted share, compared to... more

Orthopedics News Roundup 25-Jan-07 BY LAUREN UZDIENSKI, JANUARY 25, 2007

Earnings Stryker reported a 28% increase in sales of orthopedic implants and endoscopy products for 4Q:06. The Company earned $227.9 million, or 55 cents per share, meeting analysts' estimates, compared with a profit of $178.4 million, or 43 cents per... more

Kyphon to Acquire Disc-O-Tech Assets for $240 Million BY JOHN MCCORMICK, DECEMBER 21, 2006

With a one-two punch, Kyphon is snapping up niche assets in the spine industry to expand its franchise as a leading provider of unique minimally invasive devices to spine surgeons. It's been only two weeks since Kyphon announced it's blockbuster... more

Orthopedic News Roundup 7-Dec-06 BY LAUREN UZDIENSKI, DECEMBER 7, 2006

Earnings Stryker announced this week that the Board of Directors has declared a year-end cash dividend of $0.22 per share, an increase of 100% over the $0.11 dividend declared in December 2005. The dividend is payable January 31, 2007 to... 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

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 7-Sept-06 BY HUYEN NGUYEN, SEPTEMBER 7, 2006

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

Kyphon's Growth Continues BY DAVID KRESSEL, JULY 28, 2006

Kyphon (KYPH) reported a strong 2nd Quarter this week. Quarterly revenue broke the $100m mark, and at $101m, handily beat analysts' estimates of $98.6m. Overall, revenue was up 35% compared to the year ago period, with domestic revenue up 28%... more

Orthopedic News Roundup 27-Jul-06 BY HUYEN NGUYEN, JULY 27, 2006

Earnings Results: Biologics: Anika Therapeutics announced 2Q:06 net sales increased 11% to $7.1 million. Product revenues grew 74% while licensing, milestone and contract revenue was down 77%. The large product sales growth was partially driven by higher demand for OrthoVisc®;... 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

Orthopedic News Roundup 20-Apr-06 BY HUYEN NGUYEN, APRIL 20, 2006

Many orthopedic companies will be reporting their 1Q:06 results in the next few weeks. The table below provides a listing of conference call dial-in numbers and webcasts for the investment community. How the overall orthopedic industry fared in the first... more

Medtronic Countersues Kyphon BY DAVID KRESSEL, APRIL 19, 2006

As we reported in March, Kyphon and Dr. Harvinder Sandhu filed an IP suit against Medtronic, and now Medtronic has parried with its own lawsuit. Medtronic has countersued Kyphon, claiming Kyphoplasty infringes on 3 patents relating to balloons for use... more

Orthopedic News Roundup 23-Feb-06 BY LAING RIKKERS, FEBRUARY 23, 2006

Financing: BioMimetic Therapeutics, Inc. filed a registration statement for an Initial Public Offering. Earnings: Medtronic 3Q Earnings climb 23 percent. CryoLife fourth quarter 2005 revenues increased 13% over fourth quarter 2004 Gross margins for full year 2005 increased to 53%... more

Kyphon/Sandhu Lawsuit against Medtronic Announced BY JOHN MCCORMICK, JANUARY 17, 2006

The spine patent dispute du jour isn't about "555" these days: it's about "665". Today, an intellectual property lawsuit between Kyphon and Sofamor Danek filed in November of last year was unsealed (at Kyphon's request) after the two parties were... more

Another New Year Acquisition: Kyphon Announces Acquisition of InnoSpine, Inc. BY JOHN CHOPACK, JANUARY 4, 2006

Kyphon announced that it had signed a definitive agreement to acquire InnoSpine, Inc., a privately held company focused on developing and marketing its proprietary technology for the treatment of low back pain as a consequence of disc degeneration. Kyphon will... more

More IP Litigation for Kyphon BY DAVID KRESSEL, DECEMBER 5, 2005

Kyphon is back in court. They recently filed a suit (with Dr. Harvinder Sandu) against Medtronic. The case is sealed so it is hard to know much of what the case is about, but it does indicate that the suit... more

Orthopedic News Roundup 3-Nov-05 BY HUYEN NGUYEN, NOVEMBER 3, 2005

We wrap up this quarter with aggregated earnings and sales in the public orthopedic sector of $560 million and $5 billion, respectively, as a few more companies reported this week. For 3Q:05, orthopedic sales were up by 13% ($5.0 billion... more

CMS Publishes Reimbursement Codes for Kyphoplasty BY JOHN MCCORMICK, NOVEMBER 3, 2005

Earlier this morning Kyphon (Nasdaq: KYPH) shouted from the mountaintop: CMS has posted new CPT codes for Kyphoplasty which effectively brings reimbursement to a national level. The codes include percutaneous vertebral augmentation, RVUs for additional thoracic of lumbar vertebral bodies,... more

Earning Calls Replay Info BY HUYEN NGUYEN, AUGUST 10, 2005

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

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

Kyphon Soars BY JOHN MCCORMICK, JULY 8, 2005

Today (Friday) Kyphon, Inc. stock rose 12% after it raised its financial outlook for the second quarter of this year thanks to: - Better than expected sales in both its U.S. and international operations. - Better selling and marketing efficiencies.... more

Orthopedic News Roundup 24-Jun-05 BY HUYEN NGUYEN, JUNE 24, 2005

The New York Times covers (registration required) the obstacles facing evidence-based medicine in a cardiac-centric article that touches on orthopedics. Hospitals are pressuring device prices down, and TheStreet.com gives a good quick treatment to the the reimbursement issue we cover... 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

Kyphon Reports 2004 Results: Brief Thoughts on the Size of the VCF Market BY JOHN MCCORMICK, FEBRUARY 14, 2005

Last week, Kyphon Inc. (Nasdaq: KYPH) met or exceeded analysts' expectations and announced net sales of $62.4 million for 4Q:04, an increase of 57% over the $39.7 million in net sales reported in 4Q:03 Earnings per fully-diluted share for 4Q:04... more

Kyphon Reports Both Rising Sales and Rising Legal Activity BY ROBIN R. YOUNG CFA, NOVEMBER 3, 2004

You can always tell what managers are really thinking by the order of their comments on conference calls. For the quarter just ended (September 30/2004) Kyphon reported a 59% jump in net sales $55.8 million. Earnings soared to $6.1 million,... more

Is Kyphon #2 Behind Sofamor Danek in terms of Spine Industry Market Power? BY ROBIN R. YOUNG CFA, AUGUST 16, 2004

On the heels of its first $50 million quarter, Rich Mott, Kyphon's CEO, predicted that his firm would post revenues between $210 and $212 million for the year ending this December. Three years ago, in 2001, Kyphon booked sales of... more

FDA approves use of polymethylmethacrylate (PMMA) in spine - specifically for Vertebral Compression Fractures BY ROBIN R. YOUNG CFA, APRIL 5, 2004

Kyphon announced this morning that its application to receive FDA approval for its PMMA bone cement product, KyphX® HV-R™ Bone Cement, has been approved. This will be the first approved PMMA bone cement for use in the spine. PMMA has... more

Kyphon Sues Disc-O-Tech alleging Patent Infringement and a NEW vertebral compression fracture balloon patent is issued by U.S. Patent office - but not to Kyphon You'll never guess who's got it BY ROBIN R. YOUNG CFA, APRIL 5, 2004

It was middle of the afternoon at Kyphon's headquarters, but after 6pm Eastern Standard Time when Kyphon issued an announcement that it was suing start-up company Disc-O-Tech in both U.S. District Court and at the International Trade Commission for patent... more

First Quarter Preview - Sales +15%, Currency Affect Strong as Dollar Declined 3-4% against Euro and Yen BY ROBIN R. YOUNG CFA, APRIL 5, 2004

Orthopedic revenues for the quarter ended March 31, 2004 will, we expect, rise 15% to $5.4 billion. Considering that revenues for last year's initial quarter rose 15% to a record breaking $4.7 billion, this is very impressive. In raw dollars,... more

Kyphon Packs $131 Million of Sales in Just 12 Months: Expects $186-190 million in 2004 BY ROBIN R. YOUNG CFA, FEBRUARY 2, 2004

Two years ago, in the 2001 year, Kyphon reported $36 million in sales. Approximately mid-way through the 2002 year, the company went public, selling 6 million shares at $15 each, netting $82 million. The underwriters tried, but failed to establish... more

Kyphon has the look of a juggernaut BY EDITOR, NOVEMBER 3, 2003

KYPH, as it has each quarter since coming public, significantly outperformed both sales and earnings expectations last quarter. The numbers tell the story: $35.1 million in sales vs. $33.6 estimate and $20.7 million for the same period the year before.... more

Zimmer, Regeneration and Kyphon Leave Analysts Reeling. The others are merely excellent. BY EDITOR, JULY 28, 2003

Zimmer: There is no doubt in our mind that Zimmer is grabbing market share – quickly. It is clear that MIS at Zimmer is bigger than instruments and implants; it is really about (aside from improving patient outcomes) reimbursement. CEO... more

HealthpointCapital Initiates Research Coverage of Exactech, Inc. and Regeneration Technologies BY EDITOR, MAY 5, 2003

Last week we published our sales and earnings forecast as well as an analysis of future prospects for two companies, Exactech and Regeneration Technologies. We've posted the summary of our analysis for each company on First Call (the Thompson Financial... more

Who is listening to those earnings calls? BY EDITOR, APRIL 14, 2003

Earnings season starts this week with the Tuesday, April 15th release of DePuy/Acromed's first quarter results (as buried in JNJ's release) and continues until mid-May when Sofamor Danek's numbers for the April quarter (Medtronic, Sofamor Danek's parent, is on an... more


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