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
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
Earnings Anika reported 3Q:07 product revenues of $7.28 million, up from $5.49 million in 3Q:06. The company attributed the sales growth to strong domestic and international sales of ORTHOVISC®. Net income for 3Q:07 was $1.8 million, or $0.16 per diluted... more
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
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
Earnings Biologics Integra LifeSciences announced 1Q:07 revenues of $123.0 million, beating estimates of $119.25 million and reflecting a 60% increase over 1Q:06. Net income for the quarter was $9.07 million, or $0.33 per share, meeting analysts' estimates. President and CEO... more
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
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
Earnings Medtronic reported 3Q:07 (ended 1/26/07) Spinal and Navigation revenue of US $629.0 million, and the Spinal segment increased 12% over 3Q:06. Growth was attributed to the Biologics product line and the CD HORIZON® LEGACY™ family of products, which includes... more
Orthovita announced that Joe Paiva will be appointed as Chief Business Officer. Mr. Paiva has been with the Company since 1997 holding the title of Chief Financial Officer. As Chief Business Officer, Mr. Paiva will be responsible for strategic planning,... more
Orthovita announced this morning that they would apply for 510(k) approval for their Cortoss® Bone Augmentation Material, scrapping a bid for PMA approval. Cortoss is not available in the U.S., but the product has a CE mark in Europe. Applied... more
Earnings Stryker announced this week that the Board of Directors has declared a year-end cash dividend of $0.22 per share, an increase of 100% over the $0.11 dividend declared in December 2005. The dividend is payable January 31, 2007 to... more
Earnings ORTHOsoft reported 3Q:06 revenues of CAN $3.8 million (US $3.3 million), up 59% from CAN $2.4 million (US $2.1 million) in 3Q:05. ORTHOsoft manufactures computer aided orthopedic surgery devices, and they attribute the 3Q:06 growth to increased navigation systems... more
This morning Orthovita announced that it hopes to do a 7.7 million share offering at $3.25 a share in order to raise approximately $23 million net of fees. At least $9 million of the proceeds is expected to be used... more
Earnings Biologics: Orthovita reported 3Q:06 product sales came in at $11 million, up 32% compared to 3Q:05. Net loss for the quarter was $3.7 million, or a loss of $0.07 per share. The Company beat analysts' EPS estimates by $0.02,... more
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
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
Orthovita announced that it has obtained pre-market approval (PMA) from the FDA to market its VITAGEL(TM) surgical hemostat manufactured on-site at its Malvern, Pennsylvania facility. Orthovita has been distributing VITAGEL since the first quarter of 2005 through a distribution agreement... more
To update from previous blog, twenty of twenty-four orthopedic companies reported revenues and earnings for the period of January 1, 2006 to April 1, 2006. Excluding Inion, Osteotech, RTI (Regeneration Technologies) and Tutogen, which have not reported yet, total orthopedic... more
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
This morning Orthovita announced that the FDA has approved its request to modify it's CORTOSS study design. The prospective randomized controlled multi-center IDE study is underway in the U.S. and is designed to demonstrate that CORTOSS is safe and effective... more
This week at HealthpointCapital, we compiled a brief synopsis of the 2006 Orthopedic Industry, projecting that total revenue in 2006 will grow by 12% for the year. Appointment: Two notable extremities companies named their new CEOs this week: Wright Medical... more
In the past 24 hours, two public orthopedics companies have made announcements regarding fundraising. First, Orthovita (VITA) announced the completion of a $13m PIPE (Private Investment in Public Equity). It was primarily sold to Magnetar Capital, and issued at $3/share,... more
Due to last week's Merrill Lynch investor conference (subscription may be required), investors have regained confidence in the orthopedic sector after the industry faced some hurdles within the past few months. In our HealthpointCapital Weekly Valuation Index, P/E (price-to-earnings) jumped... more
It's all about spine this week. With NASS in full swing in Philadelphia, many companies eagerly issued press releases during the conference. Clinical: Cervical-Stim® is a post-operative cervical brace that generates a uniformed, low-level pulsed electromagnetic field (PEMF) at the... more
It's all about spine this week. With NASS in full swing in Philadelphia, many companies eagerly issued press releases during the conference. Clinical: Cervical-Stim® is a post-operative cervical brace that generates a uniformed, low-level pulsed electromagnetic field (PEMF) at the... more
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
Thanks to one of our readers who reminded me that I should add international dial-in numbers to the conference calls list. Since most of the companies have already reported their earnings, I am providing you with replay information in case... more
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
We have aggregated the 4Q:04 and 3Q:04 reported revenues (includes the effects of foreign currency) for 16 public orthopedic companies. Although we would have liked to use revenue growth rates which excluded foreign currency, a majority of the companies report... more
A biomaterial company, Orthovita, Inc. (Nasdaq: VITA), reported 4Q:04 and FY2004 financial results with product revenues increased to 62% and 59%, respectively. Despite its consistent 60% top-line growth in Q3 & Q4, VITA failed to meet the street estimate of... more
Headlining this year's one-day Biomaterials Summit will be Wright Medical, Regeneration Technologies, LifeCell, Orthovita, MacroPore and Stellar International. All are leaders in the field and working on significant new technologies. Wright Medical, whose sales for the first half of 2004... more
Calcium has been good to Orthovita; particularly the nano-particle version known as beta tri calcium phosphate, sold by Orthovita under the brand name VITOSS'. VITOSS' is offered in either blocks or morsels. Compared to HA-CC blends (Hydroxyapatite and Calcium Carbonate),... more
Cash and hemostats stop two kinds of bleeding. Last week, Orthovita (VITA) added both in an important and impressive deal with AngioTech. This deal will bring a new product to its growing arsenal of biomaterials, as well as a whopping... more
VITOSS sales rocketed in the quarter, beating our expectations and demonstrating that Orthovita is becoming one of the premier calcium based suppliers in orthopedics. VITOSS (a resorbable beta tri-calcium material) sales reached an estimated $4.5 million (the actual number included... more
Orthovita announced this week that it had been granted a patent covering 14 claims related to its ALIQUOT™ Micro Delivery System. ALIQUOT™ is a minimally invasive system to deliver the company's innovative and very interesting new product CORTOSS – which... more
For the June quarter, Orthovita reported a 37% YOY jump in sales to $3.7 million. Gross margins were a stellar 83%. But losses for the quarter came in at $2.3 million (down from the prior year's $3.0 million loss for... more
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