August 4, 2017 | Blake Mossy
Globus Medical reported financial results for 2Q:17. Total revenue was $152.4 million in 2Q:17, beating consensus estimates by 1.0% and representing an 11.0% compared to $137.5 million in 2Q:16. Adjusted EBITDA was $54.4 million and the company exhibited an adjusted EBITDA margin of 35.1% in 2Q:17. Gross margin for 2Q:17 decreased to 75.6% to 76.1% in 2Q:16. All growth rates are on a constant currency basis.
Mazor Robotics reported financial results for 2Q:17. Total revenue was $15.5 million in 2Q:17, increasing 86.7% compared to $8.3 million in 2Q:16. Revenue generated in the U.S. increased from $6.7 million in 2Q:16 to $14.1 million in 1Q:17, selling fourteen of its Mazor X systems. International non-U.S. revenue decreased from $1.6 million in 2Q:16 to $1.4 million in 2Q:17. Revenue from system kit sales, services & other was $6.3 million in 2Q:17, representing a 50% increase compared to $4.2 million in 2Q:16. Gross margin for 1Q:17 decreased to 69.4%, from 76.9% in 1Q:17. All growth rates are on a reported basis.
NuVasive reported financial results for 2Q:17. Total revenue was $260.6 million in 2Q:17, missing consensus estimates by 0.5% and representing an increase of 10.0% compared to $236.2 million in 2Q:16. Adjusted EBITDA was $68.3 million and the company exhibited an adjusted EBITDA margin of 26.2% in 2Q:17. Gross margin for 2Q:17 decreased to 74.5%, from 77.9% in 2Q:16. All growth rates are on a constant currency basis.
Globus Medical entered into an agreement to acquire KB Medical, a robotic developer based in Lausanne, Switzerland. This transaction supports the company’s commitment to accelerate, enhance and expand its product portfolio in Imaging, Navigation and Robotics.
PRODUCT INTRODUCTION & UPDATE
AlloSource launched its AlloFuse Select CM, designed to activate and support bone formation for use in spinal, neurologic, and orthopedic procedures. The system combines osteoconductive, osteoinductive and osteogenic properties to initiate and nurture bone growth. Its allograft matrix is moldable and compressible for insertion into interbody implants or placement around anatomical structures.
OrthoPediatrics launched its PediFrag, a pre-contoured pediatric-specific clavicle plate for the treatment of mid-shaft fractures. The device’s curvature was derived from studying 36 pediatric clavicle skeletons from the company’s access to the Hamann-Todd skeletal collection.
Medicrea announced the first surgery using its UNiD MIS Rod, a minimally invasive, patient-specific implant indicated for spinal procedures. The system is compatible with percutaneous and mini-open MIS applications, removing the need to modify implants intra-operatively.
OrthAlign entered into an agreement with Ortosistemas for the distribution of its products in Panama. OrthAlign is a provider of computer-assisted, handheld technologies for surgeons to receive real-time, actionable data for alignment and positioning of components in total knee, uniconylar knee, and total hip arthroplasty surgeries. The company also announced the completion of successful total knee arthroplasty cases utilizing its KneeAlign system.
K2M acquired the Expandable Spinal Implants patent portfolio for expandable interbody technology. The portfolio includes a range of TLIF, Lateral, PLIF and other procedures. K2M also announced its intentions to integrate its 3D printing technology, Lamellar 3D Titanium Technology, into the new products developed with Expandable Spinal Implants’ intellectual property.
SurGenTec received a patent from the United States Patent and Trademark Office (USPTO) for its Graftgun bone graft loading technology, a minimally invasive device designed to deliver bone graft material into bone voids, disc spaces, cages, and implants. The kit includes a universal loading device which enables surgeons to load allograft, autograft, or synthetic biologics into the gun’s delivery tube and dispense it to an orthopedic site.