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July 30-August 3 - International Spine Intervention Society

July 30-August 2 - National Association of Orthopaedic Technologists

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Jul 24 @ 8:00 AM ET - Zimmer Holdings, Inc.

Jul 24 @ 4:30 PM ET - Align Technology Inc.

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Orthopedic and Dental Industry News Complete Archive »

M&A Activity

Mariel Therapeutics to Acquire Stryker's BMP-7 Assets BY ANDREW VAHRADIAN, JULY 9, 2014

The biopharmaceutical company, Mariel Therapeutics, entered into a definitive agreement to acquire Stryker's Bone Morphogenetic Protein-7 (BMP-7) assets, intended for the potential treatment of osteoarthritis (OA), chronic kidney disease (CKD) and other organ fibrosis conditions, lupus, and obesity. BMP-7, which... more

Stryker to Acquire Small Bone Innovations for up to $375M BY ANDREW VAHRADIAN, JUNE 30, 2014

Stryker entered a definitive agreement to acquire Small Bone Innovations (SBi) in an all cash, asset purchase transaction for up to $375 million, or 7.8x LTM revenues. SBi manufactures orthopedic devices and instruments for upper and lower extremity small bone... more

Medtronic to Acquire Covidien for $42.9B BY MATTHEW JAFFE, JUNE 16, 2014

Medtronic announced that they have entered a definitive agreement to acquire Covidien in a total cash and stock transaction of $42.9 billion. Under the terms of the transaction, for each share held, a Covidien shareholder will receive $35.19 in cash... more

Medtronic Reported to be Considering an Acquisition of Smith & Nephew BY ANDREW VAHRADIAN, JUNE 5, 2014

Medtronic is reported to be considering an acquisition of Smith & Nephew. Presently, no offer is imminent as Medtronic's bid preparations are believed to be at an early stage. The transaction would impart greater leverage to Medtronic with payor and... more

Aastrom Biosciences Completes Acquisition of Sanofi's Cell Therapy & Regenerative Medicine Division BY ANDREW VAHRADIAN, JUNE 2, 2014

Aastrom Biosciences completed its acquisition of Sanofi's cell therapy & regenerative medicine (CTRM) business unit (currently operating under Genzyme A/S) for a purchase price of $6.5 million or 0.1x LTM revenues. The transaction expands Aastrom's cell therapy portfolio and provides... more

Smith & Nephew's Proposed Acquisition of ArthroCare Approved by UK Antitrust Regulatory Authority BY ANDREW VAHRADIAN, MAY 27, 2014

Smith & Nephew's proposed acquisition of ArthroCare received "unconditional clearance" from the United Kingdom's Competition & Markets Authority, after the regulatory body concluded its Phase I procedure. Subsequent to receiving clearance from the relevant authorities in the United States and... more

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

CONMED Reported to be Considering a Sales Process BY ANDREW VAHRADIAN, APRIL 16, 2014

CONMED Corporation is reported to be exploring a sales process, and has been speculated to have already reached out to other medical device companies to assess buyout interest. This decision to consider a sale comes as the company anticipates a... more

Stryker to Acquire Berchtold Holding and Pivot Medical BY ANDREW VAHRADIAN, FEBRUARY 20, 2014

Stryker entered into definitive agreements to acquire Berchtold Holding, AG, a provider of surgical infrastructure equipment, for an enterprise value of $172 million, or 1.4x LTM revenues, and Pivot Medical, a developer of hip arthroscopy products that focus on treating... more

Smith & Nephew Signs Agreement to Acquire ArthroCare BY ANDREW VAHRADIAN, FEBRUARY 4, 2014

Smith & Nephew (SNN) entered into a definitive agreement to acquire ArthroCare Corp. for $48.25 per share (20% premium) in cash, equating to a total consideration of approximately $1.7 billion and an enterprise value of $1.5 billion, or approximately 4.0x... more

Wright Medical Acquires Solana Surgical and OrthoPro for $126M BY ANDREW VAHRADIAN, FEBRUARY 3, 2014

Wright Medical announced that it has acquired Solana Surgical, a developer of extremity orthopedic products aiming to restore motion while relieving pain, and entered into a definitive agreement to acquire OrthoPro, a developer of surgical products for the Foot &... more

Integra Completes its Acquisition of Confluent Surgical BY ANDREW VAHRADIAN, JANUARY 21, 2014

Integra LifeSciences Holdings Corporation completed its acquisition of Confluent Surgical, Inc. from Covidien for $265 million or 4.1x LTM FY2012 revenues. Confluent Surgical develops dural repair, surgical sealants and adhesion barrier products which include: DuraSeal, DuraSeal Exact/Xact, VascuSeal and SprayShield.... more

Medtronic CEO Discusses the Company's Growth Vectors BY ANDREW VAHRADIAN, JANUARY 17, 2014

Medtronic Chairman & CEO, Omar Ishrak, highlighted the company's strategic initiatives at J.P. Morgan's Healthcare Conference earlier this week in San Francisco. Mr. Ishrak outlined the three growth vectors driving Medtronic's overall strategy: therapy innovation, globalization and economic value. He... more

Globus Medical to Acquire Excelsius Surgical BY ANDREW VAHRADIAN, JANUARY 9, 2014

Globus Medical entered into a definitive agreement to acquire Excelsius Surgical, a company developing a novel surgical robotic positioning platform for the spine, brain and musculoskeletal markets. The financial terms of the deal were not disclosed, however analysts estimate the... more

Henry Schein Completes Strategic Investment in Dental Implant Manufacturer BioHorizons BY EDITOR, JANUARY 2, 2014

Henry Schein, Inc., the world's largest provider of health care products and services to office-based dental, animal health and medical practitioners, announced the completion of a 60% equity investment in BioHorizons, Inc., a U.S.-based manufacturer of advanced dental implant technology... more

Partnerships & Startups Helping to Expand Med Device Industry into the Emerging Markets BY ANDREW VAHRADIAN, DECEMBER 3, 2013

The once U.S.-centric medical device industry is maturing into a more globally connected industry as a greater number of U.S. medtech manufacturers are seeking to expand into emerging markets like China, India and Israel through investments in startups or partnering... more

Wright Medical to Acquire Biotech International BY ANDREW VAHRADIAN, OCTOBER 17, 2013

Wright Medical entered into a definitive agreement to acquire Biotech International, a privately held French orthopedic extremities company, for an offer price of up to $80 million on a fully diluted basis, or 5.3x LTM (last twelve months) revenues. Under... 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

Smith & Nephew to Acquire Assets from Plato Grup BY ANDREW VAHRADIAN, JULY 11, 2013

Smith & Nephew announced an agreement to acquire certain assets related to the distribution of its orthopedic reconstruction, trauma and sports medicine products in Turkey, currently conducted through Plato Grup. The acquisition is being made through the local subsidiary of... more

Wright Medical to Divest OrthoRecon Business to MicroPort BY ANDREW VAHRADIAN, JUNE 20, 2013

Wright Medical announced it has entered a definitive agreement with MicroPort Medical, a subsidiary of MicroPort Scientific Corporation (HK: 0853), for the acquisition of Wright's OrthoRecon business at a cash purchase price of $290 million, valuing the unit at 1.1x... more

RTI Biologics to Acquire Pioneer Surgical Technology BY ANDREW VAHRADIAN, JUNE 12, 2013

RTI Biologics announced plans to acquire the outstanding stock of Pioneer Surgical Technology in an all cash transaction valued at $130 million. The deal will expand RTI's current implant portfolio into the metals and synthetics sectors, accelerate gross margin expansion,... more

Zimmer to Acquire NORMED BY ANDREW VAHRADIAN, JUNE 5, 2013

Zimmer Holdings announced its plan to acquire Tuttlingen, Germany-based NORMED Medizin-Technik GmbH, a developer of a broad range of specialized plates, screws, instruments and systems for bone reconstruction and fracture repair, fusion procedures and external fixation intended for the foot... more

Stryker Has Appetite for More Acquisitions BY ANDREW VAHRADIAN, MAY 29, 2013

At the recent Bank of America Merrill Lynch 2013 Health Care Conference, Stryker CEO Kevin Lobo discussed how highly focused M&A is the first priority of the company's capital allocation approach. In the presentation, Mr. Lobo detailed the significance of... more

Zimmer to Acquire Knee Creations BY ANDREW VAHRADIAN, MAY 2, 2013

Zimmer Holdings announced plans to acquire the business assets of Knee Creations, LLC. The company was founded in 2007 and develops surgical solutions to help cure osteoarthritis by treating defects associated with subchondral bone marrow edema (BME). The acquisition progresses... more

MAKO to Acquire Stanmore Implants' Sculptor Robotic Guidance Arm BY ANDREW VAHRADIAN, APRIL 17, 2013

MAKO Surgical announced it plans to acquire certain assets of Stanmore Implants related to its Sculptor Robotic Guidance Arm (RGA) business, and settle all patent infringement actions the company has taken against Stanmore regarding the device. Under asset purchase and... more

Medical Device Industry Recognizes Significant Gains in Total M&A Value during 2012 BY ANDREW VAHRADIAN, APRIL 2, 2013

The latest Pharmaceutical and Life Sciences Deals Insights quarterly report from PricewaterhouseCoopers (PwC) revealed a slight year-over-year decrease in transaction volume in the medtech sector, but noted that the sector's M&A market experienced its largest-ever rise in total value. PwC... more

TranS1 to buy Baxano BY JOHN MCCORMICK, MARCH 4, 2013

This morning spinal implant maker TranS1 announced that it was merging with stenosis technology company Baxano. The deal, valued at a total of $23.6 million, is paid for primarily by TranS1 issuing new stock, although TranS1 will pay $500k of... more

Samsung Looks to Move Further Into the Medical Device Marketplace BY ANDREW VAHRADIAN, JANUARY 30, 2013

With the recently announced acquisition of NeuroLogica, a maker of computed tomography (CT) machines, Samsung further reinforced its desire to make a name for itself in the medical equipment sector. Earlier this month, the head of Samsung’s consumer electronics division,... more

Investors Eye Medical Device Industry BY ANDREW VAHRADIAN, JANUARY 24, 2013

Over the course of 2012, the medical device industry saw a significant increase in the amount of capital received and the level of interest from angel and seed investors. In 2012, there were 457 medtech angel- and seed-round financings equating... more

Wright Medical to Acquire BioMimetic Therapeutics BY ANDREW VAHRADIAN, NOVEMBER 19, 2012

Wright Medical announced that it reached an agreement with BioMimetic Therapeutics to combine the businesses, in which it will potentially pay up to $380 million, or $12.97 per share, for BioMimetic in cash and stock, implying a premium range of... more

Alphatec Spine Completes Asset Acquisition of Irvine, CA-Based Phygen LLC BY EDITOR, NOVEMBER 7, 2012

Alphatec Spine, Inc., announced that it has closed its acquisition of certain assets of Phygen LLC. "We are very pleased and excited to close this important transaction and bring these two companies together. It is truly a synergistic fit and... more

Medical Device M&A Activity Gaining Momentum BY ANDREW VAHRADIAN, OCTOBER 16, 2012

With approximately $50 billion in excess cash currently on the books of major medical device companies, increasing domestic and international market share and attaining ownership of innovative technology through M&A has come into secular favor versus the approach of returning... more

Reuters Predicts Uptick in Medtech M&A BY LAUREN UZDIENSKI, SEPTEMBER 6, 2012

A new Reuters report predicts that medtech M&A will escalate in 2013, an uptick they attribute to the looming device tax and recent management transitions. Reuters speculates that as small companies become pressured by the 2.3% device tax, set to go into effect in January, buying opportunities could emerge for strategics. Further, recent management changes, including new CEOs at J&J and Medtronic, may have slowed M&A, which should reverse as new leaders settle into their organizations. more

Musculoskeletal News Roundup 30-Aug-12 BY LAUREN UZDIENSKI, AUGUST 30, 2012

Axial Biotech sells ScoliScore for $4.4 million ... Nextremity Solutions closes funding round ... FH Orthopedics announces FDA approval ... Osseon appoints COO 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 14-Jun-12 BY LAUREN UZDIENSKI, JUNE 14, 2012

J&J/Synthes transaction closes ... ConforMIS raises $73M ... Mazor announces Korean regulatory approval for Renaissance ... FDA clears TransCorp's SpinePort Spinal Access System ... SANUWAVE announces preclinical osteoarthritis results ... Internal Fixation System launches GoDirect sales program ... Premier awards spine contracts more

Mindray Medical to Acquire Controlling Stake in Wuhan Dragonbio Surgical Implant Co. BY LAUREN UZDIENSKI, JUNE 8, 2012

Yesterday Mindray Medical announced plans to acquire a controlling stake of Wuhan Dragonbio Surgical Implant Co., Ltd., a Chinese medical orthopedic products provider that specializes in trauma, spine, joint and other surgical products. Mindray will pay approximately $35.5 million in cash for the share in Dragonbio, which recorded $7.7 million in sales in 2011. more

Musculoskeletal News Roundup 7-June-12 BY LAUREN UZDIENSKI, JUNE 7, 2012

J&J/Synthes deal may close next week ... Mindray to acquire controlling interest in Chinese orthopedic manufacturer ... FDA clear's Medicrea's LigaPASS ... K2M launches MESA Small Suture implant ... SNN voluntarily withdraws the optional metal liner component of its R3 Acetabular System ... ISTO receives U.S. patent ... SYK close to settling DOJ investigation into OtisKnee ... SANUWAVE comments on preclinical data more

Musculoskeletal News Roundup 31-May-12 BY LAUREN UZDIENSKI, MAY 31, 2012

Globus Medical files amended S-1 ... Medtronic receives CE mark for SHILLA scoliosis system ... Zimmer launches Sidus Stem-Free Shoulder and TM Ardis Interbody System ... House and Senate pass user fee legislation ... Orthofix's Phoenix MIS and Firebird Pedicle Screw Systems to be integrated with Brainlab navigation systems ... TransCorp Spine names President and CEO more

Musculoskeletal News Roundup 17-May-12 BY LAUREN UZDIENSKI, MAY 17, 2012

aap, Corin, Mazor, TiGenix provide 1Q sales ... Regenerative Sciences raises $2M ... Regentis Biomaterials raises $10M ... Zyga raises $25M ... Axiomed receives CE mark for Freedom Cervical Disc ... Orthopaedic Implant Company launches pedicle screw system ... DOJ closes InFuse investigation ... Histogenics, Piramal announce cartilage repair data more

Royal DSM to Acquire Kensey Nash for $337 Million BY LAUREN UZDIENSKI, MAY 3, 2012

Kensey Nash has entered into a definitive agreement to be acquired by Royal DSM for $38.50 per share in cash, or about $337 million in total. The offer represents a 33% premium to yesterday's close and about a 4.0x trailing 12-month revenue multiple. more

Dental News Roundup April 2012 BY LAUREN UZDIENSKI, MAY 1, 2012

Dentsply, Nobel, Straumann announce 1Q:12 earnings ... OrthoAccel announces investment ... Sialo Technology receives CE mark ... Dentsply launches new ATLANTIS abutment for the ANKYLOS System more

Musculoskeletal News Roundup 26-Apr-12 BY LAUREN UZDIENSKI, APRIL 26, 2012

CNMD, IART, OFIX, RTIX, Synthes, ZMH report 1Q ... FDA clears LDR's ROI-C Lordotic Cervical Cage ... SNN launches HEALICOIL PK suture anchor ... SNN moving some manufacturing to China ... LDR appoints Robert McNamara CFO more

E.U. Approves J&J's Acquisition of Synthes BY LAUREN UZDIENSKI, APRIL 19, 2012

J&J's offer to divest its trauma business (with Biomet lined up to purchase the assets) has clearly allayed E.U. anti-trust concerns, as it was announced this morning that regulators have approved Johnson & Johnson's $21.3 billion purchase of Synthes. J&J estimates that the deal will close in 2Q:12, and it will mark the largest acquisition in orthopedics history. 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

Reuters: EU to Approve J&J/Synthes Acquisition BY LAUREN UZDIENSKI, MARCH 19, 2012

Reuters reports that the EU, which has been reviewing J&J's proposed acquisition of Synthes for anti-trust concerns, is close to approving the sale. This update follows an announcement last month that J&J had offered concessions, presumably involving its spine and trauma businesses, to help facilitate the deal. The EU regulatory panel has until April 26th to approve the acquisition, but a decision could come sooner. more

Musculoskeletal News Roundup 19-Jan-12 BY LAUREN UZDIENSKI, JANUARY 19, 2012

ZMH acquires Synvasive Technology ... Carticept, DiFusion announce funding rounds ... KFx announces ACL study results ... MedShape launches ExoShape Soft Tissue Fastener ... VG Innovations releases VerteLoc v2.5 ... Stryker settles OP-1 charges ... Zyga Technology appoints president and CEO more

Musculoskeletal News Roundup 15-Dec-11 BY LAUREN UZDIENSKI, DECEMBER 15, 2011

Baxter to acquire Synovis . . . FDA approves DePuy's AOX Antioxidant Polyethylene . . . EXAC launches Gibralt spinal system . . . CMS proposes industry relationships disclosure . . . Spinal Kinetics wins patent suit . . . Amp Orthopedics initiates two new studies . . . Vertiflex completes IDE enrollment . . . K2M names SVP Sales in the Americas more

Symmetry Medical to Acquire JNJ's Instrument Business BY LAUREN UZDIENSKI, DECEMBER 12, 2011

Symmetry Medical announced this morning plans to buy the surgical instrument portfolio and associated assets from J&J's Codman business. Symmetry will pay $165 million in cash for the line, which will report about $60 million in sales this year in a $1 billion worldwide market. more

Musculoskeletal News Roundup 17-Nov-11 BY LAUREN UZDIENSKI, NOVEMBER 17, 2011

Zimmer acquires ExtraOrtho and XtraFix External Fixation System . . . FDA clears X-spine's Calix PC . . . TranS1 launches lateral access fusion system . . . DFINE initiates post-market study more

EU Begins "In-Depth" Antitrust Review for JNJ, Synthes BY LAUREN UZDIENSKI, NOVEMBER 8, 2011

The European Commission announced on Friday that they would begin an "in-depth" antitrust review of JNJ's proposed acquisition of Synthes. Regulators will determine if the $21B transaction reduces competition in the EU. A particular concern is spine, since the combined companies would have about 30% of the market, just behind Medtronic. more

NuVasive to Acquire Impulse Monitoring BY LAUREN UZDIENSKI, SEPTEMBER 29, 2011

NuVasive announced plans to acquire Impulse Monitoring, a provider of intra-operative neuromonitoring services, for $80 million in cash and stock. Impulse Monitoring employs over 150 neurophysiologists, who remain in the operating room during spine procedures and function as part of the surgical team, interpreting real-time neuromonitoring data and supporting patient safety. The deal adds a service component to NuVasive's revenue stream, which has historically focused on implants. more

Integra to Acquire Ascension Orthopedics for $65M BY LAUREN UZDIENSKI, SEPTEMBER 12, 2011

Integra is expanding its extremity offering with plans to acquire Texas-based Ascension Orthopedics. Integra will buy the company for $65 million in cash, and in doing so, complement their lower extremity portfolio with new upper extremity and shoulder devices. Ascension represents Integra's first entry into the shoulder market. more

Baxter Buys Ceremed's Ostene BY LAUREN UZDIENSKI, AUGUST 23, 2011

Ceremed announced today that their Ostene hemostat, including all branding and manufacturing rights, has been sold to Baxter for an undisclosed amount. Ceremed says the divestiture will "free up assets needed to focus on bringing new products to market." more

KCI to Be Acquired for $5B BY LAUREN UZDIENSKI, JULY 13, 2011

Kinetic Concepts Inc. announced this morning that they had agreed to be taken private for $4.98 billion in a leveraged acquisition led by private equity firm Apax Partners. more

Musculoskeletal News Roundup 7-Jul-11 BY LAUREN UZDIENSKI, JULY 7, 2011

Amplitude sold to Apax France . . . ARTC sells vertebroplasty products . . . SpineVision raises $5M . . . Medtronic launches CD HORIZON Fenestrated Screw in Europe . . . RTI Biologics launches BioAdapt DBM Foam . . . DFINE study suggests lower cement leakage rate for Radiofrequency Targeted Vertebral Augmentation . . . MEDICREA to launch pilot study for GRANVIA-C cervical disc more

Dental News Roundup June 2011 BY MATTHEW JAFFE, JUNE 30, 2011

Patterson announces F4Q sales . . . Medisafe pursuing an acquisition in the dental implant industry . . . Biolase announces $9 million private placement . . . Affineti Biologics receives research funding . . . MIS Implants Technologies launches PeriZone segment . . . Panasonic releases new intraoral camera . . . Securities fraud case against Align dismissed . . . 3M ESPE and BIOMET 3i to partner on intraoral impressions system for custom abutments more

Musculoskeletal News Roundup 30-Jun-11 BY LAUREN UZDIENSKI, JUNE 30, 2011

Stryker completes Orthovita tender offer . . . ConforMIS to raise $68M . . . FDA clears Corin's highly cross-linked polyethylene liners and large diameter CoCr and BIOLOX Delta Ceramic heads . . . Aesculap launches Hydrolift Vertebral Body Replacement System . . . Cayenne Medical debuts the CrossFix II Meniscal Repair System . . . Mesoblast receives FDA clearance to begin phase II DDD study more

Dentsply Announces Agreement to Acquire Astra Tech from AstraZeneca for $1.8 Billion BY MATTHEW JAFFE, JUNE 22, 2011

Dentsply has signed a definitive agreement to acquire Astra Tech at a valuation of $1.8 billion, approximately 3.4x 2010 sales. They will finance the transaction with cash on hand, commercial paper and long-term debt and expect the deal to close before the end of 2011. more

FT: Dentsply in Talks to Buy Astra Tech BY LAUREN UZDIENSKI, JUNE 21, 2011

The Financial Times broke rumors yesterday evening that Dentsply was the sole party negotiating to acquire Astra Tech. The deal is reportedly valued at about $1.8 billion. more

Musculoskeletal News Roundup 9-Jun-11 BY LAUREN UZDIENSKI, JUNE 9, 2011

Brainlab to acquire Voyant Health . . . FDA clears ARTC's Spartan 6.5 Needled Anchor . . . Mazor Robotics launches next-gen Renaissance system . . . DFINE comments on VCF study results . . . Senators request investigation of PODs . . . Arteriocyte announces army stem-cell research project more

Kensey Nash Buys Norian from Synthes BY LAUREN UZDIENSKI, MAY 24, 2011

Kensey Nash paid $22 million to acquire the assets of Synthes' Norian subsidiary. The deal includes an R&D agreement, a supply agreement and the acquisition of a manufacturing facility. The divestiture was a condition of Synthes' settlement with the government over allegations that the company facilitated unauthorized clinical studies of Norian XR, a bone graft substitute. more

Histogenics Acquires ProChon Biotech in an All-Stock Transaction BY LAUREN UZDIENSKI, MAY 18, 2011

Histogenics acquired ProChon Biotech in an all-stock exchange this week, with the companies declining to announce a dollar amount for the transaction. Both companies are developing autologous cartilage regeneration products. more

Stryker to Acquire Orthovita for $316M BY LAUREN UZDIENSKI, MAY 16, 2011

Orthovita announced this morning that the company agreed to be acquired by Stryker for $3.85 per share in cash, which represents a 58% and 67% premium to the 30-day and 60-day volume weighted average stock prices. The total deal is valued at $316 million, which the company says is the "largest single upfront payment for an orthobiologics company." more

Musculoskeletal News Roundup 28-Apr-11 BY LAUREN UZDIENSKI, APRIL 28, 2011

CNMD, IART, SYST, ZMH and more report earnings . . . FDA clears Biomet's Active Articulation E1 Dual Mobility Hip System . . . ORTHOCON receives EU, Canadian clearance to market HEMASORB . . . SI-BONE receives modification to its labeling . . . DJO Global introduces e-plus total knee replacement insert . . . Wright Medical launches FUSIONFLEX Demineralized Moldable Scaffold . . . Kuros regains certain technology rights from Baxter . . . Genzyme files two new HA infringement suits more

J&J in Talks with Synthes Over Possible Acquisition BY LAUREN UZDIENSKI, APRIL 18, 2011

Synthes has confirmed rumors that the company is in talks to be acquired by J&J, reportedly for around $20 billion. more

Align to Buy Cadent for $190M BY LAUREN UZDIENSKI, APRIL 4, 2011

Align Technology, the manufacturer of Invisalign, announced last week that they would purchase intra-oral scanner company Cadent for $190 million. Cadent offers 3-D scanning solutions and is a leader in the scanner space, which the press release says is growing... more

Musculoskeletal News Roundup 24-Mar-11 BY LAUREN UZDIENSKI, MARCH 24, 2011

China Kanghui reports earnings, announces acquisition . . . FlexFix to acquire assets from Novalign . . . Newly-formed Rachiotek to acquire Applied Spine Technologies . . . Core Essence raises $11.5M . . . LDR submits PMA for two-level Mobi-C . . . FDA clears TSON's AxiaLIF 1L+ . . . FDA approves Seikagaku's single-injection HA . . . Pioneer Surgical launches the the Streamline TL Spinal Fixation System . . . Spinal Kinetics announces 10,000th implantation of M6 Disc . . . Medtronic of Canada releases data from study on kyphoplasty in cancer patients . . . Zimmer signs Department of Defense contract more

Musculoskeletal News Roundup 17-Mar-11 BY LAUREN UZDIENSKI, MARCH 17, 2011

Biomedical Structures acquires Concordia Medical . . . Neue Magnetodyn IP to go up for auction . . . Wright Medical closes tender offer for convertible senior notes . . . K2M receives CE mark for RAVINE Lateral Access and ALEUTIAN Lateral Interbody Systems . . . Smith & Nephew files suit against former employees . . . OrthAlign comments on new clinical data . . . Misonix, Aesculap sign new distribution agreement . . . Shukla Medical licenses Kytogenics' biopolymer technology . . . Inion resumes operations . . . DePuy Spine appoints worldwide president more

Musculoskeletal News Roundup 10-Mar-11 BY LAUREN UZDIENSKI, MARCH 10, 2011

ANIK, BMTI, VITA report 4Q . . . Global Biotech to take minority position in BoneGrafix . . . ConforMIS to raise $1.8M . . . Medtronic launches ATLANTIS VISION ELITE cervical plate system . . . Wright Medical launches PRO-TOE VO . . . OFIX receives subpoena . . . Vertos announces mild clinical data . . . GenOsteo and SpineSmith to collaborate on stem cell scaffold . . . RegeneCure licenses synthetic membrane for use with stem cells . . . Bacterin now trading on NYSE Amex 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

Sanofi-Aventis to Acquire Genzyme BY LAUREN UZDIENSKI, FEBRUARY 17, 2011

After a long and very public negotiation, Genzyme has agreed to be acquired by Sanofi-Aventis for $74 per share, with the total deal valued at around $20.1 billion. more

Musculoskeletal News Roundup 3-Feb-11 BY LAUREN UZDIENSKI, FEBRUARY 3, 2011

CNMD, KNSY, RTIX report 4Q . . . Spine Wave raises $17.5M . . . Vertiflex raises $14M . . . Tornier goes public . . . BioMimetic Therapeutics gets FDA panel hearing date . . . ConforMIS knee system cleared . . . Healthcare reform found unconstitutional in Florida . . . Wright Medical expands supply agreement for GraftJacket . . . Biomet makes a donation to OREF more

Musculoskeletal News Roundup 27-Jan-11 BY LAUREN UZDIENSKI, JANUARY 27, 2011

DJO, JNJ, SYK, ZMH report 4Q;10 . . . Arthrex acquires Cardo Medical's total joint assets . . . Flex Biomedical, OrthoSensor raise funding . . . LDR submits PMA for Mobi-C . . . Medtronic launches CD HORIZON SOLERA . . . Kuros releases one-year data from KUR-111 study . . . Gary Fischetti named group chairman for DePuy subsidiaries more

SNN Denies Takeover Rumors BY LAUREN UZDIENSKI, JANUARY 14, 2011

Smith & Nephew released a brief statement on rumors of a takeover this morning, saying that the company is "not engaged in any discussions" that would lead to an acquisition. more

Musculoskeletal News Roundup 13-Jan-11 BY LAUREN UZDIENSKI, JANUARY 13, 2011

MAKO, NUVA, SYK pre-announce . . . Globus acquires Facet Solutions' assets . . . Doctors Research Group raises $7.7M . . . Wright Medical launches DARCO system in Japan . . . Zimmer introduces NexGen LPS-Flex Mobile Bearing Knee with Prolong Highly Crosslinked Polyethylene . . . FDA approves Wright Medical's IDE for the INBONE Total Ankle Replacement with Calcaneal Stem . . . China Kanghui Holdings and Consensus Orthopedics announce manufacturing and marketing agreement more

Zimmer Closes China Acquisition BY JOHN MCCORMICK, DECEMBER 21, 2010

This morning Zimmer announced that it has finalized its acquisition of China-based Beijing Montagne, a mainland company that develops large joint implants and instruments. more

Musculoskeletal News Roundup 9-Dec-10 BY LAUREN UZDIENSKI, DECEMBER 9, 2010

SBi sells shoulder assets . . . Ortho Kinematics raises $2M . . . FDA clears VITA's Vitoss Bioactive Foam-2X . . . Life Spine announces first cases with the OCTAVE Posterior Fusion System . . . WMGI initiates limited rollout of the PRO-TOE VO Hammertoe Fixation System . . . BMTI begins enrollment on Augment Rotator Cuff pilot study . . . Audax Medical licenses biomaterial from Brown University . . . NeoStem entity to bring orthopedic stem cell treatments to Shijiazhuang, China . . . EXAC resolves DOJ investigation more

Dental News Roundup November 2010 BY LAUREN UZDIENSKI, NOVEMBER 30, 2010

Sirona reports F4Q:10 . . . Nobel Biocare extends debt facility . . . Align receives FDA warning letter . . . BioMers launches SimpliClear Full orthodontic system in Singapore . . . NYT weighs in on cone-beam scanners . . . Nobel Biocare donates EUR 2.5 million to the P-I Branemark Institute Bauru in Brazil . . . Vident partners with the California Center for Advanced Dental Studies . . . BIOMET 3i launches new website for the Journal of Implant and Reconstructive Dentistry more

Report: AstraZeneca Looking to Sell Astra Tech BY LAUREN UZDIENSKI, NOVEMBER 16, 2010

Bloomberg, the Wall Street Journal and others are reporting this morning that AstraZeneca has hired JPMorgan Chase to help it sell Astra Tech, a medical device manufacturer based in Sweden. more

Stryker Acquires CMF Portfolio from Porex Corporation BY LAUREN UZDIENSKI, NOVEMBER 1, 2010

Stryker is adding to its CMF portfolio with its acquisition of privately-held Porex Surgical, which manufactures bioimplantable porous polyethylene products (PPE). Stryker says Porex Surgical, a division of Porex Corporation, will complement their current CMF offering. Terms of deal were... more

Musculoskeletal News Roundup 28-Oct-10 BY LAUREN UZDIENSKI, OCTOBER 28, 2010

IART, NUVA, OFIX, WMGI, ZMH report 3Q . . . Wright Medical acquires EZ Frame external fixator for the foot . . . ArthroCare cleared to market the Spartan PEEK Suture Implant system . . . FDA clears Medtronic's Kyphon Xpander II Inflatable Bone Tamp . . . Wright Medical launches PRO-STIM Injectable Inductive Graft . . . NUVA to appeal NeuroVision brand name verdict 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 23-Sept-10 BY LAUREN UZDIENSKI, SEPTEMBER 23, 2010

M&A Amedica acquired US Spine for an undisclosed amount. The target company manufactures a range of fusion products as well as the Facet Fixation System, which features the Facet Gun to lock the facet joint. Amedica says that with the... 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

Zimmer Expanding China Presence BY JOHN MCCORMICK, JULY 22, 2010

Zimmer's data rich earnings announcement this mornining contained an interesting nugget about their China plans. Zimmer announced that they have completed a definitive agreement to acquire Beijing Montagne Medical Device Co., Ltd. a 360-employee company that develops large joint implants... 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 17-Jun-10 BY LAUREN UZDIENSKI, JUNE 17, 2010

Orthopaedic Synergy closes acquisition of PRAXIM . . . Trauson reveals IPO details . . . HyperBranch Medical Technology receives CE mark for a spine sealant . . . TriMed and Stryker back in court over wrist fixation device . . . Bacterin signs deal with hospital purchasing group Broadlane . . . Inion files for bankruptcy . . . BONESUPPORT and TSON announce Board appointments more

Musculoskeletal News Roundup 10-June-10 BY LAUREN UZDIENSKI, JUNE 10, 2010

M&A The Quebec Superior Court authorized the sale of BioSyntech's assets to Piramal Healthcare. Piramal will acquire assets and assume certain BioSyntech liabilities for CAN $3.9 million ($3.7 million). The sale should close within 15 business days. Funding According to... more

Musculoskeletal News Roundup 3-Jun-10 BY LAUREN UZDIENSKI, JUNE 3, 2010

Mazor announces first German GO-LIF sales . . . OrthoDynamix launches the ArthroSteer Biter . . . Osprey Biomedical introduces the Eagle Cervical Allograft Series . . . DOJ settles with Idaho orthopedists . . . Stryker and Wright Medical settle knee infringement suit . . . Amedica awarded patent . . . AOFAS releases position paper on total ankle replacement . . . Pioneer Surgical announces NuBac data . . . RepRegen reports StronBone data . . . Medtronic to report physician payments greater than $5,000, and Steve La Neve steps down from spine & biologics more

Dental News Roundup May 2010 BY LAUREN UZDIENSKI, MAY 28, 2010

NADX's go-shop period ends . . . Smile Brands cancels its IPO . . . Sirona launches new products . . . Straumann receives award for Roxolid . . . Regenerating teeth from stem cells more

Musculoskeletal News Roundup 27-May-10 BY LAUREN UZDIENSKI, MAY 27, 2010

Medtronic announces FQ4 . . . Exactech acquires Brighton Partners, supplier of Optetrak knee material . . . VentureMD closes funding round . . . KFx cleared to market AppianFx knee products . . . X-spine receives FDA clearance for Fixcet Spinal Facet Screw System . . . Applied Spine awarded patents . . . DFine, Vertos release clinical data . . . curasan collaborates with Matricel on bone graft substitute . . . SpineGuard appoints Alan Olsen Chairman of the Board 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 8-Apr-10 BY LAUREN UZDIENSKI, APRIL 7, 2010

Earnings RSB Spine announced that 1Q:10 sales increased 25% over 4Q09. M&A Stryker closed its acquisition of assets related to Synergetics' Sonopet/Omni product line, an ultrasonic aspirator that has applications in neurosurgery. Synergetics will receive $2.5 to $3.0 million in... more

GeoDigm to Acquire National Dentex BY LAUREN UZDIENSKI, APRIL 5, 2010

national-dentex.gifNational Dentex announced this morning that it has entered into an agreement to be taken private by GDC Holdings, parent company of GeoDigm Corporation. The all-cash transaction is valued at around $99.0 million, or $17.00 per share, which represents a 70% premium on National Dentex's last close of $10.02. more

Musculoskeletal News Roundup 1-Apr-10 BY LAUREN UZDIENSKI, APRIL 1, 2010

xray_small.jpgATEC closes Scient'x acquisition . . . Anulex and Carticept Medical close funding rounds . . . OrthAlign receives 510(k) clearance for its latest KneeAlign design . . . Eden Spine receive a European patent . . . Medicare cuts loom as Congress departs for Easter recess . . . ArthroCare reports data on their Plasma Disc Decompression products more

Alphatec Spine Completes Acquisition of Scient'x Groupe SAS BY EDITOR, MARCH 29, 2010

atec%20logo.gifAlphatec Holdings, Inc., the parent company of Alphatec Spine, Inc., announced today the closing of its previously announced acquisition of Scient'x Groupe SAS, a spinal implant company headquartered in France. The combined company will be the third-largest independent spinal company with a global span of product distribution. more

Musculoskeletal News Roundup 18-Mar-10 BY LAUREN UZDIENSKI, MARCH 18, 2010

doc_xray_small.jpgANIK, ATEC report 4Q:09 . . . ATEC shareholders approve Scient'x Acquisition . . . Non Linear Technologies, Spinal Restoration close funding rounds . . . CareFusion launches kyphoplasty balloon . . . Integra launches new products for spine . . . New vertebroplasty data released more

Musculoskeletal News Roundup: AAOS Edition BY LAUREN UZDIENSKI, MARCH 11, 2010

OR_small.jpg 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 more

Musculoskeletal News Roundup 4-Mar-10 BY LAUREN UZDIENSKI, MARCH 4, 2010

knee.jpg Corin, Osteotech and Integra report 4Q . . . Baxter to acquire ApaTech for up to $330.0 million . . . Intrinsic Therapeutics closes on $18.0 million of a $20.0 million round . . . FDA schedules Orthopaedic and Rehabilitation Devices Panel meeting for Menaflex . . . Aetna and United Healthcare reverse prior policies and announce that they will cover NuVasive's XLIF . . . Congress delays Medicare pay cut more

Musculoskeletal News Roundup 25-Feb-10 BY LAUREN UZDIENSKI, FEBRUARY 25, 2010

xray_small.jpgAlphatec Spine reported 4Q:09 revenues of $36.6 million, an increase of 29% from the $28.4 million reported in 4Q:08. U.S. revenues for the quarter were $28.3 million, an increase of 29% from the $22.0 million reported for 4Q:08. U.S. revenues for the quarter were $28.3 million, an increase of 29% from the $22.0 million reported for 4Q:08. Asian revenues were $6.6 million, an increase of 38% from the $4.8 million reported for 4Q:08. European revenues in 4Q:09 were $1.7 million. more

Musculoskeletal News Roundup 11-Feb-10 BY LAUREN UZDIENSKI, FEBRUARY 11, 2010

Earnings Nobel Biocare reported 4Q:09 revenues of EUR 156.0 million ($213.6 million), flat over the year-ago period and missing estimates by EUR 5.0 million ($6.9 million.) EPS of EUR 0.21 ($0.29) missed estimates by EUR 0.05 ($0.07). The company called... 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

Anika Acquires Fidia Advanced Biopolymers for ~$34M BY LAUREN UZDIENSKI, JANUARY 4, 2010

On December 31, Anika Therapeutics announced the acquisition of Fidia Advanced Biopolymers for $17.1 million in cash and 1.9 million shares of stock, which values the deal at roughly $34.0 million. Fidia is a tissue engineering company based in Abano... more

Musculoskeletal News Roundup 17-Dec-09 BY LAUREN UZDIENSKI, DECEMBER 17, 2009

M&A Alphatec Holdings, Inc. announced that it has entered into a definitive agreement to acquire Scient'x Groupe SAS, a spinal implant company headquartered in France. The transaction is structured as an all-stock transaction such that 100% of outstanding Scient'x stock... more

Musculoskeletal News Roundup 10-Dec-09 BY LAUREN UZDIENSKI, DECEMBER 10, 2009

M&A The Yorkshire Post reported that DePuy Orthopaedics acquired Finsbury Orthopaedics. Finsbury has a range of hip, knee and small joint replacement products, including a hip resurfacing device. No details of the transaction were disclosed. Funding BioMedFlex raised $0.25 million... more

Musculoskeletal News Roundup 3-Dec-09 BY LAUREN UZDIENSKI, DECEMBER 3, 2009

M&A Stryker entered into a definitive agreement to acquire Ascent Healthcare Solutions, a medical device reprocessing company, for $525.0 million in cash. Ascent describes its operations as including the "cleaning, testing/verifying, packaging and sterilizing" or devices, as well as "remanufacturing,"... more

Stryker to Acquire Ascent Healthcare Solutions BY LAUREN UZDIENSKI, DECEMBER 1, 2009

Stryker announced yesterday that they would acquire Ascent Healthcare Solutions, a device reprocessing company, from RoundTable Healthcare Partners. Stryker will pay $525 million in cash for the company, which had about $100 million in revenues in 2008. Ascent will become... more

Musculoskeletal News Roundup 19-Nov-09 BY LAUREN UZDIENSKI, NOVEMBER 19, 2009

Earnings ArthroCare restated its earnings from 2004 through 2Q:09. The company reported total revenue for 2008 of $314.2 million, up 12% over 2007. Relative to prior-year periods, 1Q:09 revenues increased 2% to $78.8 million; 2Q:09 revenues decreased 6% to $80.8... more

Musculoskeletal News Roundup 12-Nov-09 BY LAUREN UZDIENSKI, NOVEMBER 12, 2009

Earnings Alphatec Holdings, Inc. announced record consolidated revenue of $32.7 million in 3Q:09, which represents 27% growth over 3Q:08. U.S. revenue increased 21% over the prior-year third quarter and 28% over the first nine months of 2008. International revenue was... more

Stryker Acquires OtisMed BY LAUREN UZDIENSKI, NOVEMBER 11, 2009

Stryker announced the acquisition of OtisMed, a software company that manufactures custom cutting guides for total knee replacements. Financial terms of the deal were not specifically disclosed, but Stryker simultaneously announced the acquisition of the Sonopet Ultrasonic Aspirator, and the... more

Musculoskeletal News Roundup 5-Nov-09 BY LAUREN UZDIENSKI, NOVEMBER 5, 2009

Earnings aap Implantate reported nine-month revenue of EUR 25.6 million ($37.4 million), which represents a 6% increase over the year-ago period. The company said third-quarter highlights included the signing of several IP agreements that emphasize orthopedics, trauma ad spine. Artimplant... 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 8-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 8, 2009

Earnings TranS1 pre-announced 3Q:09 revenues, saying sales for the quarter would be in the range of $6.8 to $6.9 million. This represents a 15% increase over year-ago sales, though it is below 3Q:09 guidance of $7.4 to $7.9 million. Analysts... more

Vertebron Assets Auctioned Off BY JOHN MCCORMICK, OCTOBER 7, 2009

Yesterday, Beverly Hills based Cardo Medical, Inc. announced that it had acquired the assets of Vertebron out of bankruptcy. Cardo Medical is a small, bulletin-board-traded orthopedics company that focuses on reconstructive (e.g. Align 360 Unicompartmental Knee System) and a several... more

Musculoskeletal News Roundup 1-Oct-09 BY LAUREN UZDIENSKI, OCTOBER 1, 2009

Earnings MEDICREA reported revenues of EUR 6.1 million ($8.6 million) in 1H:09, representing a 32% increase over 1H:08, which the company attributed to growth in sales from direct subsidiaries, primarily in the United States. Net loss was EUR 1.5 million... more

Musculoskeletal News Roundup 17-Sept-09 BY LAUREN UZDIENSKI, SEPTEMBER 17, 2009

M&A Integra LifeSciences acquired the assets of Innovative Spinal Technologies, Inc. (IST) for $9.25 million in cash. Last year the company recorded $2.2 million in revenues, though they ceased operations in January and went into liquidation in May. This transaction... more

Integra Acquries IST BY JOHN MCCORMICK, SEPTEMBER 14, 2009

Early this morning, Integra LifeSciences anounced that it is has acquired the assets of Innovative Spinal Technologies, Inc. (IST) for $9.25 million in cash. Although IST had a little over $2 million of revenue last year, the Company shut its... more

Musculoskeletal News Roundup 10-Sept-09 BY LAUREN UZDIENSKI, SEPTEMBER 10, 2009

M&A Kapstone Medical acquired exclusive rights to Spherofix's screw-locking technology, which the company plans to incorporate into a line of spinal implants. Terms of the deal were not disclosed. Regulatory Covidien received FDA approval to market its DuraSeal spine sealant,... more

Musculoskeletal News Roundup 6-Aug-09 BY LAUREN UZDIENSKI, AUGUST 6, 2009

Earnings Alphatec Spine, Inc. announced financial results for FQ2:09. Consolidated revenues for the second quarter 2009 were $32.3 million, an increase of 35% from 2Q:08 and an increase of 5% over first quarter 2009. Adjusted EBITDA reached $2.8 million in... more

Musculoskeletal News Roundup 23-Jul-09 BY LAUREN UZDIENSKI, JULY 23, 2009

Earnings Anika Therapeutics reported 2Q:09 revenue of $9.5 million, representing a 5% increase over 2Q:08 and missing estimates by $0.4 million. The company attributed revenue growth to both the ORTHOVISC and MONOVISC product lines, which contributed $5.6 million to total... more

Synovis Life Technologies to Acquire Pegasus Biologics for $12.1 million BY LAUREN UZDIENSKI, JULY 10, 2009

Synovis Life Technologies, Inc. announced plans this week to acquire Pegasus Biologics, Inc. for $12.1 million in cash (a 1.3x revenue multiple.) Pegasus manufactures a collagen-based soft tissue scaffold as well as a wound healing device. According to the Synovis... more

Musculoskeletal News Roundup 9-Jul-09 BY LAUREN UZDIENSKI, JULY 9, 2009

Earnings Exactech announced that 2Q:09 revenues would be approximately $43.0 million, below earlier guidance and analyst expectations of approximately $45.0 million. The range for full-year 2009 revenue guidance has also been lowered to $167-$173 million. The company attributed 2Q's sales... more

A Look at the Medical Device Industry Today BY ARIELLA P. GOLOMB, MD, JUNE 3, 2009

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

Musculoskeletal News Roundup 23-Apr-09 BY LAUREN UZDIENSKI, APRIL 23, 2009

Earnings CONMED reported 1Q:09 revenues of $164.1 million, representing a 7% decrease over 1Q:08 and missing estimates by $9.5 million. Arthroscopic devices contributed $63.9 million in revenue, down 8% over 1Q:08, with the decline due largely to a 24% decrease... more

NuVasive to Acquire Cervitech for Up to $80 million BY LAUREN UZDIENSKI, APRIL 23, 2009

NuVasive announced yesterday afternoon that they would acquire NJ-based Cervitech for $47 million and up to $33 million upon the achievement of certain regulatory milestones. Up to half of these payments can be made in stock. Cervitech is developing the... more

Medtronic Talks "Disappointing" Kyphon Acqusition and Future Growth BY LAUREN UZDIENSKI, APRIL 15, 2009

In recent interviews, Medtronic CEO Bill Hawkins discussed some of the challenges associated with the company's $4.2 billion acquisition of Kyphon in 2007 as well as plans for future acquisitions. Kyphon brought innovative products and an entree into new markets,... more

Musculoskeletal News Roundup 5-Feb-09 BY LAUREN UZDIENSKI, FEBRUARY 5, 2009

Earnings CONMED Corp. reported 4Q:08 revenues of $179.2 million, down 5% versus 4Q:07 and beating estimates by $2.26 million. Non-GAAP diluted earnings per share were $0.34, down 23% from 4Q:07 and beating estimates by $0.05. The company reported 4Q:08 arthroscopy... more

Musculoskeletal News Roundup 29-Jan-09 BY LAUREN UZDIENSKI, JANUARY 29, 2009

Earnings Kensey Nash reported FQ2:09 revenues of $20.8 million, up 6% over the year-ago period and beating estimates by $0.4 million. Net income for the quarter was $5.2 million, or $0.44 per diluted share, beating estimates by $0.04 and representing... more

Musculoskeletal News Roundup 22-Jan-08 BY LAUREN UZDIENSKI, JANUARY 22, 2009

Earnings aap Implantate pre-announced 4Q:08 and full-year 2008 revenues of EUR 7.1 million ($10.0 million) and EUR 31.2 million ($44.0 million), respectively. 4Q:08 revenues declined 24% from the year-ago period, which the company attributed to "more orders from global partners"... 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

The New Rules for Public Company Acquisitions BY DAVID KRESSEL, DECEMBER 18, 2008

With stock values down so much, particularly over the past few months, we took a look at the mergers & acquisition environment. We pulled information on M&A premiums on the NASDAQ and NYSE in the recent past, given the recent... more

Musculoskeletal News Roundup 26-Nov-08 BY LAUREN UZDIENSKI, NOVEMBER 26, 2008

M&A Trading was suspended for Portland Orthopaedics on news that the company may be selling its assets. Intellectual Property BioMimetic Therapeutics has received patent No. 11/159,533 covering its PDGF technology, including Augment Bone Graft and Augment Injectable Bone Graft. The... 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 13-Nov-08 BY LAUREN UZDIENSKI, NOVEMBER 13, 2008

Earnings aap Implantate AG reported sales for the first nine months of 2008 of EUR 24.2 million ($35.0 million), up 30% from the same period last year. The company attributed the sales growth to the Traumatology & Orthopaedics division, where... more

Musculoskeletal News Roundup 30-Oct-08 BY LAUREN UZDIENSKI, OCTOBER 30, 2008

Earnings Exactech reported 3Q:08 revenues of $37.9 million, missing revenues by $0.9 million and representing an increase of 27% over the year-ago period. Among segments, knee revenue increased 16%; organic hip implant revenue increased 8%; biologic services revenue increased 12%;... 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 9-Oct-08 BY LAUREN UZDIENSKI, OCTOBER 9, 2008

M&A Life Spine, Inc. has acquired the "majority" of the intellectual property of Spinal Generations, LLC. Neither details on the acquired technology nor terms of the transaction were disclosed. Funding Harvard received a $125 million donation from Synthes Chairman Hansjorg... more

Musculoskeletal News Roundup 2-Oct-08 BY LAUREN UZDIENSKI, OCTOBER 2, 2008

M&A Arthro Kinetics announced that they are pursuing a potential asset sale. The company said this week that their current $5.0 million cash balance was not sufficient to sustain operations. Tecomet has been acquired from Cardinal Health by Charlesbank Capital... more

Musculoskeletal News Roundup 18-Sept-08 BY LAUREN UZDIENSKI, SEPTEMBER 18, 2008

M&A BoneSupport acquired Ultrazonix, the developer of an ultrasound-based treatment for alleviating pain associated with herniated discs. The product is FDA-cleared and CE-marked. Financial terms were not disclosed. Funding Formae received an investment of $0.5 million from BioAdvance, the Biotechnology... 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

Zimmer to Acquire Abbott Spine for $360 million BY LAUREN UZDIENSKI, SEPTEMBER 4, 2008

Zimmer announced plans to acquire Abbott Spine for approximately $360 million in cash (a 3.3x revenue multiple.) Zimmer says the acquisition will add innovative products to their portfolio and augment the company's R&D capabilities. Zimmer's stock was flat in midday... more

Musculoskeletal News Roundup 4-Sept-08 BY LAUREN UZDIENSKI, SEPTEMBER 4, 2008

Earnings Inion reported 2Q:08 sales of EUR 1.8 million ($2.8 million), up 34% over 2Q:07. 1H:08 sales were EUR 2.59 ($4.1 million), a 12% increase over 1H:07. Operating loss for 1H:08 was EUR 4.85 million ($7.6 million), a 20% decrease... more

Musculoskeletal News Roundup 7-Aug-08 BY LAUREN UZDIENSKI, AUGUST 7, 2008

Earnings Alphatec Spine, Inc. reported consolidated revenues for 2Q:08 of $23.9 million, an increase of 27% from the $18.8 million reported in 2Q:07. U.S. revenues for 2Q:08 were $19.4 million, an increase of 20% from the $16.2 million reported in... more

Musculoskeletal News Roundup 24-July-08 BY LAUREN UZDIENSKI, JULY 24, 2008

Earnings Anika Therapeutics reported 2Q:08 revenue of $8.38 million, representing a 32% increase over 2Q:07 but missing estimates by $0.4 million. The company attributed sales growth to the strength of the Orthovisc line. Net income for 2Q:08 was $0.81 million,... more

Theken is Taken: Integra to Buy for up to $200 Million BY LAUREN UZDIENSKI, JULY 24, 2008

Integra LifeSciences this morning announced plans to acquire the Theken family of businesses - Theken Spine, Theken Disc and Therics - for $75.0 million (2.2x 2007 revenues) plus up to $125.0 million in future performance-based payments (up to 5.9x 2007... more

Musculoskeletal News Roundup 26-Jun-08 BY LAUREN UZDIENSKI, JUNE 27, 2008

Earnings Symmetry Medical reported 1Q:08 revenue of $101.9 million, up 57% from the year-ago period. Revenue was positively affected by the recent acquisitions of TNCO, Inc., Specialty Surgical Instrumentation Inc. and DePuy Orthopaedics, Inc.'s Massachusetts manufacturing facility. Net income for... more

Musculoskeletal News Roundup 12-June-08 BY ARMELLE WIART, JUNE 12, 2008

M&A Wright Medical Group, Inc. announced that it has acquired the foot and ankle product line of A.M. Surgical, Inc. The systems purchased address the decompression and soft tissue release procedures most commonly performed by foot and ankle surgeons. The... more

Musculoskeletal News Roundup 29-May-08 BY ARMELLE WIART, MAY 29, 2008

M&A Kinetic Concepts, Inc. announced that it completed its acquisition of LifeCell Corporation. At the time of the expiration of the tender offer, 31.1 million shares of LifeCell common stock had been tendered representing approximately 90.75% of the outstanding shares... 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 15-May-08 BY LAUREN UZDIENSKI, MAY 15, 2008

Earnings aap Implantate AG announced 1Q:08 revenues of EUR 8.0 million ($12.64 million), up 36% over the year-ago period. The company attributed the growth to a 146% increase in sales in its Trauma & Orthopaedics division, which contributed EUR 3.7... more

Musculoskeletal News Roundup 8-May-08 BY LAUREN UZDIENSKI, MAY 8, 2008

Earnings Artimplant announced 1Q:08 revenues of SEK 2.1 million ($0.35 million), down from SEK 3.9 million ($0.66 million) in 1Q:07. Net loss for the quarter was SEK 6.2 million ($1.04 million), or SEK 10 ($1.68) per share, a deterioration from... more

Musculoskeletal News Roundup 10-Apr-08 BY LAUREN UZDIENSKI, APRIL 10, 2008

M&A Kinetic Concepts, Inc. announced plans to acquire LifeCell for $1.7 billion, or $51.00 per share, which represents an 18% premium over LifeCell's closing price on Friday and a 26% premium over the 90-day volume weighted average trading price. KCI... more

Kinetic Concepts, Inc. to Acquire LifeCell for $1.7 billion BY LAUREN UZDIENSKI, APRIL 7, 2008

Kinetic Concepts, Inc. announced this morning its plans to acquire LifeCell for $1.7 billion, or $51.00 per share, which represents an 18% premium over LifeCell's closing price on Friday and a 26% premium over the 90-day volume weighted average trading... more

Musculoskeletal News Roundup 3-Apr-08 BY LAUREN UZDIENSKI, APRIL 3, 2008

Earnings aap Implantate reported 2007 revenue of EUR 28.0 million ($41.24 million), an increase of 52% over 2006. Net profit for the year was EUR 1.5 million ($2.21 million), down from EUR 1.6 million ($2.36 million) in 2006, which the... more

Musculoskeletal News Roundup 27-Mar-08 BY LAUREN UZDIENSKI, MARCH 27, 2008

Earnings DJO Inc., formerly ReAble Therapeutics, reported 4Q:07 net sales of $170.7 million, a 97% increase over 4Q:06; the growth rate was due primarily to acquisitions, including ReAble's merger with DJO. The company reported an actual net loss of $57.3... more

Musculoskeletal News Roundup 13-Mar-2008 BY LAUREN UZDIENSKI, MARCH 13, 2008

Earnings BioMimetic Therapeutics reported 4Q:07 revenues of $4.5 million, up from $1.9 million in 4Q:06 but missing analysts' estimates by $1.1 million. Revenues included $3.6 million of product sales of GEM 21S to Luitpold, $0.7 million of royalty income and... 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 28-Feb-2008 BY LAUREN UZDIENSKI, FEBRUARY 28, 2008

Earnings Artimplant reported 4Q:07 revenues of SEK 5.0 million ($0.8 million), up from SEK 1.6 million ($0.25 million) in the year-ago period. The net loss for 4Q:07 was SEK 2.1 million ($0.34 million), improved from a loss of SEK 9.5... 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

MAKO Surgical Goes Public BY JOHN MCCORMICK, FEBRUARY 17, 2008

On Thursday of last week, MAKO Surgical Corp went public. The Company, which makes robotic arms for minimally inveasive knee surgery, raised an impressive $51 million in capital selling at $10 a share. Although it lost some ground on the... more

Musculoskeletal News Roundup 14-Feb-08 BY LAUREN UZDIENSKI, FEBRUARY 14, 2008

Earnings Hanger Orthopedic Group reported 4Q:07 net sales of $170.8 million, beating estimates by $7.5 million and representing an 11% over the year-ago period. Revenue growth was attributed to an increase in same-center sales from Hanger's patient care business, an... more

Musculoskeletal News Roundup 7-Feb-08 BY LAUREN UZDIENSKI, FEBRUARY 7, 2008

Earnings Smith & Nephew announced 4Q:07 revenues of $967.0 million, beating estimates of $933.0 million and reflecting a 25% (reported) increase over 4Q:06. Adjusted earnings per share was $0.16, in line in estimates and up 10% over the year-ago period.... more

Musculoskeletal News Roundup 31-Jan-08 BY LAUREN UZDIENSKI, JANUARY 31, 2008

Earnings Kensey Nash reported FQ2:08 total revenues of $19.6 million, missing estimates by $0.05 million and up 14% over the year-ago period. Net sales of biomaterials products increased 15% to $11.5 million, which the company attributed to orthopedic sales. The... 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

Lifecore Taken Private BY DAVID KRESSEL, JANUARY 16, 2008

Lifecore announced yesterday that it has entered into definitive documentation to be acquired by affiliates of the private equity firm Warburg Pincus for $239m, implying an enterprise value of $200m. Lifecore has two business units. One sells dental implants and... more

Musculoskeletal News Roundup 10-Jan-08 BY LAUREN UZDIENSKI, JANUARY 10, 2008

M&A ArthroCare Corp. acquired DiscoCare, Inc., whom the company describes as "a third-party billing and reimbursement service provider," for $25 million in cash plus potential future milestone payments. The company says, "This acquisition will allow ArthroCare to significantly expand its... more

ArthroCare in the News Again with the Acquisition of DiscoCare BY LAUREN UZDIENSKI, JANUARY 9, 2008

Last week ArthroCare announced a $25 million deal to acquire DiscoCare, described in the press release as a "medical billing and reimbursement service provider." Specifically, DiscoCare provides reimbursement assistance to physicians using Arthrocare's plasma disc decompression (PDD) device; though it... more

Musculoskeletal News Roundup 20-Dec-07 BY LAUREN UZDIENSKI, DECEMBER 20, 2007

M&A BioMimetic announced the impending sale of its dental business and GEM 21S product to Luitpold Pharmaceuticals. Luitpold, who has been distributing the product since 2003, will pay BioMimetic $40.0 million in addition to ongoing royalty and milestone payments. The... more

BioMimetic Sells Dental Business, Reports Positive GEM OS®1 Data BY LAUREN UZDIENSKI, DECEMBER 18, 2007

There were two big announcements from BioMimetic Therapeutics this week, the first being an announcement that came yesterday on the impending sale of the dental business and the GEM 21S product to Luitpold Pharmaceuticals, which currently markets GEM 21S. BioMimetic... 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

Expanding Their Presence in Spine, Exactech Plans to Acquire Altiva BY LAUREN UZDIENSKI, DECEMBER 11, 2007

Exactech announced yesterday plans to acquire all outstanding shares of Altiva for a payment of $7.0 million in cash and Exactech common stock. The company previously announced a purchase valuation of Altiva totaling $25.0 million. Prior to the news of... more

Musculoskeletal News Roundup 29-Nov-07 BY LAUREN UZDIENSKI, NOVEMBER 29, 2007

Regulatory Amedica received FDA clearance for their Valeo™ Pedicle Screw system, a low profile and modular pedicle screw system intended for non-cervical pedicle fixation from the T1 through L5. Corin announced FDA clearance for additional sizes of its Cormet hip... more

Musculoskeletal News Roundup 15-Nov-07 BY LAUREN UZDIENSKI, NOVEMBER 15, 2007

Earnings Artimplant announced 3Q:07 revenue of SEK 2.6 million, up from SEK 0.9 million in the year-ago period. 3Q:07 net loss was SEK 3.6 million, down from SEK 10.4 in 3Q:06. Earnings per share, including a non-recurring item, amounted to... more

Regeneration Technologies and Tutogen to Merge BY DAVID KRESSEL, NOVEMBER 13, 2007

This morning Regeneration Technologies (RTI) and Tutogen announced their intent to merge. These are two of the larger players in the tissue processing business though their businesses have surprisingly little overlap. RTI has been more focused on allograft hard tissue... more

N-Spine Bought By Synthes for $75+ Million BY DAVID KRESSEL, NOVEMBER 13, 2007

Swiss orthopedics giant Synthes announced today that it is purchasing N-Spine for $30 million cash upfront, $45 million cash for certain milestones and additional undisclosed payments for reaching certain sales targets. Synthes is one of the leaders in the spine... more

DePuy to Acquire Disc-O-Tech's VCF Assets BY ARIELLA P. GOLOMB, MD, NOVEMBER 7, 2007

Back in December 2006, Kyphon announced its planned acquisition of Disc-O-Tech for up to $240 million in a multi-staged transaction. In order for Kyphon to finalize its acquisition of Disc-O-Tech, the FTC required Kyphon to divest of Disc-O-Tech's Confidence assets... 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 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

Musculosketal News Roundup 25-Oct-07 BY LAUREN UZDIENSKI, OCTOBER 25, 2007

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

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

AstraTech to Acquire Atlantis Components BY DAVID KRESSEL, OCTOBER 11, 2007

Sweden-based AstraTech, AstraZeneca's medical device subsidiary, announced it will acquire Atlantis Components for $71m. Atlantis, a Cambridge, MA-based producer of custom milled dental implant abutments, complements Astra's dental implant business by allowing Astra to offer a broader portfolio of restorative... more

Musculoskeletal News Roundup 11-Oct-07 BY LAUREN UZDIENSKI, OCTOBER 11, 2007

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

Musculoskeletal News Roundup 4-Oct-07 BY LAUREN UZDIENSKI, OCTOBER 4, 2007

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

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 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 30-Aug-07 BY LAUREN UZDIENSKI, AUGUST 30, 2007

Earnings Globus Medical announced 2Q:07 revenues of $30.2 million, an increase of 52% over the comparable quarter. The company attributes the revenue growth to the expansion of its sales and distribution footprint, product introductions in its fusion, MIS and biomaterials... more

Musculoskeletal News Roundup 23-Aug-07 BY LAUREN UZDIENSKI, AUGUST 23, 2007

Earnings aap Implantate announced 38% growth in revenues following its consolidation with Fame Medical Group. Revenues in 1H:07 totaled EUR 12.7 million. Highlights from 2Q:07 include a reported double-digit increase in international sales in the Trauma & Joint Reconstruction segment... more

Musculoskeletal News Roundup 16-Aug-07 BY LAUREN UZDIENSKI, AUGUST 16, 2007

Earnings BioMimetic Therapeutics reported a 2Q:07 net loss of $6.4 million, or $(0.35) per share, beating estimates of $(0.39) per share and improving from a net loss of $3.9 million, or $(0.42) per share, in 2Q:06. 2Q:07 Revenues were $0.5... more

Musculoskeletal News Roundup 9-Aug-07 BY LAUREN UZDIENSKI, AUGUST 9, 2007

Earnings Biologics: Orthovita reported 2Q:07 revenues of $14.85 million, beating estimates of $14.13 million and reflecting a 33% increase over 2Q:06. Sales growth was attributed to increased U.S. sales of VITOSS® FOAM and VITAGEL® products. Net loss decreased to $3.17... more

IsoTis to Merge with Integra BY ARIELLA P. GOLOMB, MD, AUGUST 7, 2007

This morning Integra LifeSciences and IsoTis announced that Integra plans on acquiring IsoTis in an all-cash transaction valued at approximately $51 million plus debt (~$6 million) assumed at closing. Isotis' 2006 revenues were $40.7 million. The $7.25 offered per share... 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

Medtronic to Acquire Kyphon BY ARIELLA P. GOLOMB, MD, JULY 27, 2007

Further solidifying its market-leading position in the spine industry, Medtronic today announced plans to acquire Kyphon for approximately $3.9 billion, excluding $320 million in payments for Kyphon's St. Francis Medical and Disc-O-Tech acquisitions. Additionally, there is a break up fee... more

DJO to sell for $1.6 Billion BY JOHN MCCORMICK, JULY 16, 2007

This morning DJO Incorporated (formerly known as DJ Orthopedics), the largest bracing company in the land, announced that it has agreed to be sold for $1.6 billion to Austin, Texas-based ReAble Theraputics, Inc. (formerly known as Encore Medical). As opposed... 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

J&J Seeking a Bigger Hold on Device Industry BY LAUREN UZDIENSKI, JUNE 12, 2007

According to an article in the latest edition of BusinessWeek, J&J's aspirations for the device space could predict a new string of acquisitions ranging from small firms to major players, with the magazine naming Boston Scientific as a potential target.... 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

SNN Completes Plus Orthopedics Acquisition, Looking For More... BY ARIELLA P. GOLOMB, MD, JUNE 4, 2007

After announcing the completion of its Plus Orthopedics acquisition last Friday, Smith & Nephew CEO Christopher O'Donnell made clear the company's aims to grow its global footprint: "We have at the moment 30 to 40 companies which are potential takeover... 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 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 12-Apr-07 BY LAUREN UZDIENSKI, APRIL 12, 2007

Earnings Vertebron announced in a press release that 1Q:07 was its most profitable quarter ever. The Company attributes the growth to a significant sales increase over the comparable quarter last year as well as a company-wide restructuring in 3Q:06. Vertebron... 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 29-Mar-07 BY LAUREN UZDIENSKI, MARCH 29, 2007

Earnings BioMimetic Therapeutics announced 4Q:06 financial results, reporting a net loss of $5.3 million or $0.34 per share and beating analysts' estimates of a loss of $0.37 per share. This compares to a net loss of $9.2 million, or $5.82... more

Orthopedic News Roundup 15-Mar-07 BY LAUREN UZDIENSKI, MARCH 14, 2007

Earnings Orthovita reported 4Q:06 revenues of $13.81 million, beating analysts' estimates of $13.76 million and reflecting 38% growth compared to $9.97 million in 4Q:05. Orthovita attributed the growth to increased U.S. sales of VITOSS® FOAM and VITAGEL®. OrthoLogic announced 2006... more

Straumann's Strategic Moves Play Out BY LAING RIKKERS, MARCH 6, 2007

Straumann, the second largest dental implant company, has been on our radar a few times this month. First, Straumann is getting press for stating its interest in buying the not-yet-for-sale Biomet 3i. 3i would give it needed scale and management... more

Orthopedics News Roundup 15-Feb-07 BY LAUREN UZDIENSKI, FEBRUARY 15, 2007

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

Tornier to Expand Extremities Franchise through Acquisition of Nexa Orthopedics BY EDITOR, FEBRUARY 12, 2007

Eden Prairie, MN - February 12, 2007 - Tornier announced today that it has signed a definitive agreement to acquire Nexa Orthopedics, a privately held, California based company that develops, manufactures, and markets medical devices for orthopedic and podiatric surgeons.... more

Zimmer Acquiring MIS Spinal Implant Company Endius BY DAVID KRESSEL, FEBRUARY 12, 2007

After the markets closed on Friday, Zimmer announced an agreement to acquire Endius, Inc., a Massachusetts-based spine company. Endius has developed a minimally invasive instrument kit, Atavi, and associated implants for spinal fusion. The Atavi comes as a cartridge the... 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

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

Israel As a Source of Life Science Innovation BY ARIELLA P. GOLOMB, MD, JANUARY 3, 2007

Kyphon's pending acquisition of Israeli-based Disc-O-Tech's Assets for $240 million is only a part of the dollar volume of Israeli technology M&A activity in 2006. The Israeli Venture Capital Research Center reported that in 2006, 76 M&A technology deals involving... more

Orthopedic News Roundup 28-Dec-06 BY LAUREN UZDIENSKI, DECEMBER 28, 2006

M&A Kyphon has signed definitive agreements to acquire all spine-related assets of Israeli company Disc-O-Tech Medical Technologies, Ltd. in a multi-stage transaction. Terms are summarized as follows: Kyphon will pay Disc-O-Tech $60 million upon execution of the definitive agreements; Kyphon... 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 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

Bids for Biomet: Due Tuesday BY JOHN MCCORMICK, DECEMBER 10, 2006

Hey buddy, can you spare $11 billion? The business news community was set alight on Sunday with a newpaper article that appeared in Britain's Telegraph indicating that Smith and Nephew is poised to submit a bid of about $11 billion... more

Encore Domestic Implant Sales Strong; Plans in Place for Medical Device Acquisition BY HUYEN NGUYEN, OCTOBER 27, 2006

Encore Medical reported 3Q:06 sales of $92.9 million, representing an increase of 27.8% over 3Q:05. Encore reported $0.01 diluted EPS ($0.05 below analysts' expectations), or a net income of $917,000 (continuing operations only). Net income was negatively impacted by expenses... 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 12-Oct-06 BY HUYEN NGUYEN, OCTOBER 12, 2006

Earnings Update: CryoLife provided an update on its 3Q:06 projected revenues, which are estimated at ~$20 million, a 22% increase over the comparable quarter of 2005. In 3Q:06, its tissue processing revenues were ~$10.3 million, an increase of 41%, and... more

Orthopedic News Roundup 14-Sept-06 BY HUYEN NGUYEN, SEPTEMBER 14, 2006

Appointment: Orthovita, Inc. has appointed Albert J. Pavucek, Jr. Vice President Corporate Controller. Mr. Pavucek was with PDI, Inc. serving as Vice President, Finance and Operations. Awards & Recognition: Smith & Nephew plc announced that two of its products, the... 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

Orthopedic News Roundup 31-Aug-06 BY HUYEN NGUYEN, AUGUST 31, 2006

Appointment: SpineVision® SA has hired Julian Mackenzie as its new Chairman and CEO. Previously, Mr. Mackenzie was with Wright Medical serving as Director General and CFO. Business Update: Donor Referral Services of North Carolina is at the center of a... more

Synthes Acquires AO Foundation's Assets; Collaboration Agreement Still in Discussion BY ARIELLA P. GOLOMB, MD, AUGUST 29, 2006

Back in March, Synthes and the Association for Osteosynthesis (AO) Foundation announced that Synthes would acquire trade names and marks and substantially all of the intellectual property from the AO Foundation for approximately CHF 1.0 billion in cash and stock.... more

Orthopedic News Roundup 24-Aug-06 BY HUYEN NGUYEN, AUGUST 24, 2006

Appointment: IsoTis OrthoBiologics has hired Gene B. Reu as Vice President of Operations. Prior to joining IsoTis, Mr. Reu served as Vice President & General Manager of Coblation Technologies with Arthrocare, Inc. Business Update: ArthroCare Corp. announced it has received... more

Tutogen Considers Zimmer's Buyout Inadequate, Quarterly Revenues Highest In Tutogen's History BY ARIELLA P. GOLOMB, MD, AUGUST 15, 2006

Late last week, Tutogen Medical Inc. rejected a bid from Zimmer Holdings, Inc. for $5-$6 per share. (Current 52 week range for the stock is between $2.50 - $6.29). Zimmer currently owns 33.2% of Tutogen's common stock, and back 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

Orthofix to Buy Blackstone Medical for $333 Million BY JOHN MCCORMICK, AUGUST 7, 2006

This morning Orthofix International, NV (NasdaqGS: OFIX) announced that it has signed an agreement to acquire independent spinal implant developer Blackstone Medical, Inc. for $333 million in cash. Blackstone revenues were $22mm in 2Q:06 and EBIT was approximately $2mm. Trailing... 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

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

Smith & Nephew Acquires Osteobiologics BY ARIELLA P. GOLOMB, MD, JULY 11, 2006

Smith & Nephew plc (SNN) announced today that it has acquired Osteobiologics (OBI) for a net consideration of $72.3m in cash, representing ~20x OBI's 2005 revenues of $3.3m. The acquisition is expected to reduce SNN's earnings by $7m in the... more

Orthopedic News Roundup 6-Jul-06 BY HUYEN NGUYEN, JULY 6, 2006

Appointments: Tutogen Medical appointed Dr. Karl Koschatzky to the position of Managing Director. Dr. Koschatzky will replace Manfred Kruger, who was Tutogen's President of International operations and Managing Director of the German subsidiary. IsoTis OrthoBiologics appointed James William (Jim) Poser,... more

Private Equity Firm to Buy Encore for $870mm BY JOHN MCCORMICK, JULY 3, 2006

After the market close on Friday, a unit of the mega-sized private equity firm Blackstone Group (not to be confused with the spine company) offered Encore Medical Corporation shareholders a 36% premium to take the company private. The enterprise valuation... more

Wall Street Journal Writes About Consolidation in Orthopedics BY DAVID KRESSEL, JUNE 7, 2006

In this morning's Wall Street Journal, an article by Jon Kamp (subscription required) covers the topic of consolidation in the orthopedic industry. In October we suggested M&A activity would increase, and in April Biomet started the speculation that large-scale consolidation... more

Orthopedic News Roundup 1-Jun-06 BY HUYEN NGUYEN, JUNE 1, 2006

Appointment: A medical imaging company ONI Medical appointed Victor Ruiz to Vice President, of the Corporate Strategy and Marketing division. Mr. Ruiz's past experience include world-famous imaging companies: GE Medical Systems and Cardinal Health Inc. Clinical Update: LDR Spine announced... 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

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

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

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

Orthopedic News Roundup 9-Mar-06 BY HUYEN NGUYEN, MARCH 9, 2006

Although management teams are preparing for AAOS, a few more companies reported earnings this week. We did a quick calculation and found that our internal Orthopedic Index PE year-to-date has stayed relatively flat at 27x. We expect that the AAOS... more

Acquisitions within the Orthopedic Industry Increase BY JOHN CHOPACK, FEBRUARY 27, 2006

dj Orthopedics announced that it had signed a definitive agreement to purchase Aircast Incorporated for $290 million in an all cash transaction. Aircast is a leading designer and manufacturer of ankle braces and vascular systems. Aircast booked $96.8 million in... more

Ossur Continues Its Acquisition Streak BY DAVID KRESSEL, JANUARY 20, 2006

Iceland-based Ossur announced the acquisition of Innovative Sports, Inc. for $38.4m. Innovative Sports is a US-based developer, manufacturer and marketer of ligament braces, primarily for the knee, but also the wrist. Last year, Innovative Sports had revenue of $19m and... more

Another Acquisition in 2006: DePuy Acquires Hand Innovations BY JOHN CHOPACK, JANUARY 19, 2006

DePuy's acquisition of Hand Innovations is significant in the orthopedic space for several reasons. First, it marks the third acquisition of the year already following both Stryker's acquisition of PlasmaSol and Kyphon's purchase of InnoSpine. We, along with several other... more

Archus Orthopedics Raises $35m BY DAVID KRESSEL, JANUARY 18, 2006

Archus Orthopedics announced today that they have closed a Series C financing, raising $35m from institutional and strategic investors. J&J's corporate VC arm, J&J Development Corp., led the round. Archus' current investors, including MPM Capital, InterWest Partners and Polaris Venture... 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

Ossur hf. Buys Innovative Medical Products BY JOHN MCCORMICK, DECEMBER 1, 2005

Iceland's Ossur hf., a global supplier of prosthetic and orthopaedic devices, announced today that it has acquired the UK bracing company Innovative Medical Products Holdings Ltd (IMP). IMP specialises in the design, sale and manufacture of knee, hip and spinal... more

Orthopedic News Roundup 17-Nov-05 BY HUYEN NGUYEN, NOVEMBER 17, 2005

Regulatory Update: Osteobiologics received FDA clearance on its OsteoChondral Transplant (OCT) Comprehensive System Instruments. The system is intended for the treatment of osteochondral (cartilage) defects in the knee. BioSyntech received an approval from Health Canada, Therapeutic Products Directorate, Medical Devices... more

Encore Medical to Buy Compex Technologies for $109 Million BY JOHN MCCORMICK, NOVEMBER 14, 2005

Encore Medical Corp. (nasdaq: ENMC) announced this morning that it is expanding its presence in the pain management business with the acquisition of Compex Technologies Inc. (nasdaq: CMPX)in an all-stock transaction valued at $109 million. Under the terms of the... more

BMS Considering Medtech Acquisition BY DAVID KRESSEL, NOVEMBER 10, 2005

At an industry summit on November 8th, Bristol-Myers Squibb's CEO Peter Dolan said he was interested in diversifying into other areas of healthcare, particularly medical devices. This is ironic because just five years ago BMS spun off its medical device... more

Will the Increase in Pricing Pressure on Non-Innovative Products Create More Acquisitive Orthopedic Companies? BY JOHN CHOPACK, OCTOBER 25, 2005

Our recent analysis of orthopedic M&A activity between 1997 and 2005 provided some interesting results. First, the number of orthopedic transactions has significantly increased during 2004 and 2005. Between 1997 and 2003 there were approximately 7 acquisitions per year. It... more

MTF Withdraws Bid for Osteotech BY JOHN MCCORMICK, OCTOBER 18, 2005

Last night Osteotech, Inc. (Nasdaq: OSTE) communicated that Musculoskeletal Transplant Foundation ("MTF") has withdrawn its $6.25 a share bid. Today many shareholders voted with their feet and the stock has dropped by $1 a share to $3.88 (or over 20%).... more

Orthopedic News Roundup 13-Oct-05 BY HUYEN NGUYEN, OCTOBER 13, 2005

The allograft industry was scrutinized recently due to the highly publicized case of Biomedical Tissue Services (BTS). The company is being investigated by the Brooklyn district attorney's office for operating a scam to profit from body parts. The first company... more

Alphatec Spine Announces Acquisition of Cortek BY EDITOR, SEPTEMBER 13, 2005

Allograft business gives independent spinal implant company a complete product line. CARLSBAD, California, September 13, 2005 /PRNewswire/ -- Alphatec Spine, Inc., ("Alphatec") one of the largest independent spinal implant companies, announced today the purchase of all assets of Cortek, Inc.,... 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

Osteotech: Hostile to Shareholders? BY JOHN MCCORMICK, AUGUST 30, 2005

As many of you now know, the venerable (and world's largest) non-profit tissue bank Musculoskeletal Transplant Foundation (MTF) announced on Monday that is had proposed to acquire all of the outstanding common stock of Osteotech, Inc. (Nasdaq: OSTE) for $6.25... more

More NuVasive Acquisition Activity BY JOHN MCCORMICK, AUGUST 19, 2005

NuVasive has been acquiring non-fusion technologies faster than we can write about them. The most recent announcement this week was the acquisition of dynamic stabilization technology from River Bend, LLC for 51,308 shares of NuVasive common stock or about $1... more

ArthoCare buys Applied Therapeutics for $10mm BY JOHN MCCORMICK, AUGUST 19, 2005

On Wednesday afternoon, Arthrocare (nasdaq:ARTC) announced that it has purchased substantially all of the assets and certain liabilities of Applied Therapeutics Inc. for $10 million in cash. The deal also includes a payment contigent on Applied Therapeutics' revenue from Feb.... more

Paragon Medical Gets $25mm BY JOHN MCCORMICK, AUGUST 17, 2005

The meat and potatoes orthopedic supply chain is heating up with consolidation activity due to backing from the industrial private equity community. Back in June, we noted that a new roll-up of industry suppliers called Orchid was created. Even last... more

Orthopedic News Roundup 12-Aug-2005 BY HUYEN NGUYEN, AUGUST 12, 2005

This week we completed the orthopedic reporting calendar as a few more companies reported earnings, starting with Synthes, the number #1 trauma company worldwide. Synthes reported 20% growth in both top and bottom line for 1H:05. Consolidated sales reported at... more

Acquisitions Heating up in Bracing BY JOHN MCCORMICK, AUGUST 11, 2005

The traditionally steady-as-she-goes bracing sector has been heating up with some M&A activity lately. Two weeks ago, Ossur annouced it was buying Royce Medical and, in the last five days, we have two new events to consider: (i) dj Orthopedics... more

Notes on NuVasive's Acquisition of NeoDisc™ BY JOHN MCCORMICK, AUGUST 11, 2005

Late last week, NuVasive, Inc. announced the acquisition of the NeoDisc™ (download product brochure) technology and assets from Pearsalls Limited, a UK medical product developer that has a core competence in surgical suture material. The transaction requires a closing payment... more

Orthopedic News Roundup 5-Aug-05 BY HUYEN NGUYEN, AUGUST 5, 2005

This week we finish off the first half of 2005 reporting season with 17 orthopedic companies* released their financial numbers. In 2Q:05, in an aggregated total, orthopedic revenues increased 16% ($3.8 billion vs. $3.2 billion) and a 25% increased in... more

Innovative Spinal Technologies Raises $39 Million BY JOHN MCCORMICK, AUGUST 3, 2005

Innovative Spinal Technologies, Inc. (IST), the Texas Back Institute affiliate that develops of spine products, intellectual property and services, announced yesterday that it has closed a $39 million Series B financing. IST is is clearly making the leap from incubator... 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

Mr. Theken buys Therics BY JOHN MCCORMICK, JULY 4, 2005

On Friday of last week, Tredegar Corporation announced that it sold the assets of Therics, Inc. to a new company controlled and managed by Randall R. Theken (not the actual Theken Spine company itself). The new stand-alone company will simply... more

The Creation of a New Orthopedic Supplier: Orchid Orthopedic Solutions, LLC BY JOHN MCCORMICK, JUNE 7, 2005

Two weeks ago a new orthopedic supplier called Orchid Orthopedic Solutions, LLC was unveiled by its private equity backer Churchill Equity Partners. This is not necessarily a start-up. In fact, Orchid is what an investment industry professional might call a... more

Medtronic and Michelson Finally Settle for $1.35 billion BY JOHN MCCORMICK, APRIL 25, 2005

The four year spine patent dispute between Dr. Gary Michelson and Medtronic, Inc. came to a mind-boggling conclusion on Friday when Medtronic announced that it would settle for a cool $1.35 billion - the largest one-time intellectual property award in... more

Genzyme Acquires Verigen AG BY JOHN MCCORMICK, FEBRUARY 14, 2005

On Tuesday of last week, Genzyme Corporation (Nasdaq: GENZ) announced another foray into the world of cartilage repair with the acquisition of Germany's Verigen AG. Founded only in 1999, Verigen has been selling a proprietary cell therapy system for cartilage... more

Reflections on the Aircast Acquisition BY JOHN MCCORMICK, NOVEMBER 22, 2004

Two weeks ago, Aircast announced that it will be acquired by $1.3 billion private equity fund Tailwind Capital Partners. By all measures, the deal looks and feels like a plain vanilla leveraged buyout. A substantial amount of debt is being... more

Silipos Finally Finds a Home with Langer BY JOHN MCCORMICK, SEPTEMBER 27, 2004

Last week Langer (NASDAQ: GAIT) announced that it inked a deal to acquire Silipos, Inc. Silipos, which operates out of New York City and Niagara Falls, NY, manufactures gel-based products that have orthopedic and prosthetic applications such as heel cups,... 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

The Integra Eye for the Low-Cost Buy BY ROBIN R. YOUNG CFA, MARCH 1, 2004

Integra Life Sciences (IART), which reported a 58% jump in revenues to $185 million for the year ended December 31st, 2003, was downgraded by W.R. Hambrecht this past week. We have known IART CEO Stu Essig for quite a while... more

Is the IPO Market Back? BY ROBIN R. YOUNG CFA, JANUARY 12, 2004

Capital markets aren't rational. Otherwise, they'd have longer memories. A year ago, when Zimmer was trading at $40.01, DJ Orthopedics was at $3.66, Encore was at $3.20 and LifeCell was at $2.89, you couldn't buy an orthopedic or medical device... more

Zimmer Acquires Implex for $108 million BY EDITOR, DECEMBER 1, 2003

Was anyone surprised? Since late 2000, Zimmer had an exclusive distribution alliance agreement with Implex. The agreement concerned Implex's unique metal foam (our word) that offered the surgeon a metal implant with a dramatically higher amount of porosity than traditional... more

After Checking Out the Payday for Centerpulse's Managers all we can say is... Make Sure Ray Elliott is on the Christmas Card List BY EDITOR, AUGUST 25, 2003

Max Link, Centerpulse’s CEO, could get severance pay of nearly five million Swiss francs ($3.53 million) if he leaves the firm within a year of Zimmer's takeover. (Centerpulse, by the way, has declared that its recommendation to shareholders to vote... more

It's the World Series of Orthopedic Poker BY EDITOR, JUNE 16, 2003

On Tuesday of this week, Zimmer's offer becomes official. We think Smith and Nephew will call Zimmer and raise. To stay in, Zimmer will likely have to throw more chips in the pot. Of course, we don't quite know what's... more

Orthopedic Urge to Merge Strongest Since 1998. How long will it continue? BY EDITOR, JUNE 9, 2003

Abbot's offer last week of up to $210 million for Spinal Concepts brings the announced number of transactions this year to 5 and the amount to be spent to $2.7 billion. If we include what is likely to be a... more

Countdown to Zimmer's Offer BY EDITOR, JUNE 9, 2003

It's 8 days and counting. There's been quite a bit of maneuvering on both sides but until Zimmer's offer is official on June 17th, 2003, nothing of substance can happen. This is patently obvious on the Centerpulse website which gives... more

The Battle for the Hearts and Minds of Centerpulse Shareholders BY EDITOR, JUNE 2, 2003

Smith and Nephew (SNN) appeared to be gaining ground last week against Zimmer's strong bid to acquire Swiss based Centerpulse as the Financial Times of London published a series of stories that called into question the stability of Zimmer's offer.... more

Industry Chatter About Zimmer / Supartz, the SNN Ace we forgot last week BY EDITOR, MAY 27, 2003

We collected a variety of comments this past week about Zimmer's counter bid for Centerpulse. Some came over the email transom, others from phone interviews. The sources included CEOs, surgeons, hospital administrators, VPs of marketing, Zimmer distributors, Centerpulse distributors and... more

$325 million for disc arthroplasty, again. BY EDITOR, MAY 12, 2003

This week the DePuy division of Johnson and Johnson reached an agreement to purchase the Link Spine Group of Bramford, CT, a unit of the Waldemar LINK GmbH company, Hamburg, Germany for $325 million plus future payments. Link Spine Group's... more


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