This evening, BioMimetic Therapeutics (BMTI) issued a press release stating it has reached a settlement with Deutsche Bank regarding BMTI's holdings of auction-rate securities (ARS). BMTI told investors on its 2Q08 conference call that it had approximately $60 million of... more
Last week global equities were up on points of light in the interbank lending markets and this week equities have been pricing in a recession. Another important market is also pricing in a recession: high yield bonds. Before we get... more
Global equity markets have breathed a collective sigh of relief last week thanks to the U.S. Treasury announcing it is recapitalizing banks and the prospect of a thaw in credit markets. Our latest observations are below. U.S. Treasury Update The... more
This article first appeared in the October 7, 2008 edition of Orthopedics This Week. Robin: John, first of all, thank you so much for agreeing to discuss this unprecedented crisis in the capital markets. From my perspective, this is an... more
Musculoskeletal stocks have performed relatively well year to date only down 14% compared to the S&P 500, which is down 25%. Despite financial uncertainty roiling the market on what seems like a daily basis, musculoskeletal stocks have displayed resiliency to... more
What do the severe dislocations seen in the credit markets mean for the orthopedic device startup looking for venture capital? Duly noting we are not a venture capital firm (we perform buyouts), our observation from afar is that the venture... more
Even in these troubled markets, there is a price for everything. On Monday, in the midst of one of the greatest credit dislocations in history, Orthofix announced that it has amended its existing credit facility. In an even more remarkable... more
Healthcare is well known to be a steadily growing segment of the US economy. According to CMS, over the past decade the industry has grown at an average of 6.5% annually, despite an economy that has faced its share of... more
On the topic of bailouts, "Manias, Panics and Crashes: A History of Financial Crises" by the immortal economic historian Charles Kindleberger is recommended reading. Readers too busy to read books while burrowing for safe investments will hopefully find this quick... more
There has been so much written on the current financial crisis that it may be hard to get a simple explanation of what started this. The goal of this blog is to answer simply what could be an infinitely complicated... more
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