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Orthopedic and Dental Industry News Complete Archive »

Valuations

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

Globus Latest IPO Update a Positive for Industry BY JOHN MCCORMICK, JULY 27, 2012

This week, Globus Medical, which is well on its way to going public, made a key amendment to its IPO filing materials that indicate a positive for the challenged spine industry. The amendment also indicates that their IPO is imminent. more

Dental News Roundup January 2011 BY LAUREN UZDIENSKI, JANUARY 31, 2011

Align announces 4Q:10 . . . The Carlyle Group acquires Integrated Dental Holdings . . . Glidewell Laboratories' Inclusive Custom abutments now compatible with Astra Tech's implant system . . . Periodontal bacteria linked to respiratory infections . . . Align, Cadent to develop software for Invisalign . . . Dentsply makes donation to NYU more

Medtech Report Shows M&A Values Increasing BY LAUREN UZDIENSKI, OCTOBER 25, 2010

A new report from Ernst & Young shows that 2010 M&A valuations in the medical technology sector are picking up from 2009. The report identifies 89 transactions valued at $16.9 billion initiated through 1H:10, which compares to 172 transactions worth $15.7 billion in all of 2009. 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

Tornier Files for IPO BY JOHN MCCORMICK, JUNE 8, 2010

Despite recent market turmoil, fast-growing extremities implant leader Tornier made a confident statement about its business outlook by filing for a $205 million initial public offering (IPO) yesterday. After a 16-month nuclear winter, healthcare IPOs came back with a vengeance... more

More Trouble for ArthroCare BY JOHN MCCORMICK, JANUARY 15, 2009

This morning ArthroCare, the well known minimally invasive sports medicine company, announced that it received a letter from the Nasdaq stock exchange that its stock is to be de-listed at the open of trading tomorrow - Friday, January 16. Although... 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

As Tensions Mount on Wall Street, Orthopedics Offers Stability BY LAUREN UZDIENSKI, SEPTEMBER 15, 2008

A handful of big headlines rocked the financial sector this weekend, sending the S&P 500 down 3% at midday and compounding months of write-offs, bailouts and mergers that created a cloud of decline within the banking industry. To recap, Lehman... more

Orthopedic Returns Still Compelling BY CHARLES CAO, APRIL 25, 2008

We've recently written a report on returns in the orthopedic industry, and we uncovered a number of positive results. The musculoskeletal medical device sector continues to present a superior risk/return profile, characterized by . . . 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

Orthopedic Investors Sitting Pretty in Economic Turmoil BY JOHN CHOPACK, JANUARY 31, 2008

By now everyone realizes that the most prominent investment banks on Wall Street are in serious turmoil over the subprime mortgage crisis. These groups continue to write off huge losses in the tens of billions of dollars and many analysts... 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

TranS1 Priced Above Range in NASDAQ Debut BY LAUREN UZDIENSKI, OCTOBER 17, 2007

Wilmington, N.C.-based spine company TranS1 began trading on the NASDAQ today following Tuesday's IPO. The stock debuted at $15 per share, above the $12-$14 per share forecasted by underwriters Lehman Brothers Holdings Inc. and Piper Jaffray, and raised a total... more

Summer Downdraft: Ortho Keeps on Ticking BY JOHN MCCORMICK, AUGUST 15, 2007

While the stock market takes a licking, ortho keeps on ticking. We have been getting a lot of questions lately about how this summer's credit meltdown and the associated stock market decline has effected orthopedic stocks. Our answer goes right... more

Orthopedic Valuations: An Update after 1Q:07 Earnings Call BY JOHN CHOPACK, MAY 9, 2007

We predicted in January 2007 that orthopedic stocks were poised for a good year. We thought we would revisit our prediction after most of the publicly traded orthopedic companies reported their 1Q:07 earnings. The table below clearly shows that the... more

Orthopedic Valuations are on the Move: 2007 Looks Promising BY JOHN CHOPACK, JANUARY 24, 2007

It is evident that orthopedic stocks are on the move. The table below clearly indicates that orthopedic valuations have remained fairly constant during the last 18 months. However, beginning approximately 30 days ago orthopedic valuations began to increase. A year... more

Orthovita to Raise $23 Million BY JOHN MCCORMICK, NOVEMBER 17, 2006

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

Orthopedic News Roundup 17-Aug-06 BY HUYEN NGUYEN, AUGUST 17, 2006

Earnings: Biologics: Tutogen reported 3Q:06 sales of $10 million and a net loss of $1.1 million, or $0.07 per fully diluted share compared to the same quarter last year. The Company would have experienced breakeven results without ~$1.1 million in... 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

1Q:06 Final Performance Summary BY HUYEN NGUYEN, MAY 25, 2006

Final results for the 26 publicly-traded orthopedic companies* in 1Q:06 showed that orthopedic sales for first quarter increased by 9.2%, as reported. Now that Medtronic has reported its spine revenues, total aggregated sales for those 26 companies came in at... more

Empirical Study: Orthopedic Returns Compelling BY JOHN MCCORMICK, MAY 17, 2006

We have posted a short .pdf paper that examines orthopedic public equity returns and risk. We have found that despite all the noise about pricing, the orthopedic medical device sector continues to present a superior risk/return profile. Of note, the... more

2006 Orthopedic Industry Forecast - Strong Growth to Continue BY EDITOR, MARCH 21, 2006

Our current forecast for the orthopedic industry projects continued long term growth of 15%. For 2006, we expect growth to be slightly below this trend, at 12%. Despite continued strength in other segments of the industry, hip and knee reconstruction... more

NuVasive Prices Public Offering BY JOHN CHOPACK, FEBRUARY 2, 2006

NuVasive announced today that its public offering of 6.7 million new shares and 796,000 secondary shares priced today at $19.25. The gross amount of the offering totaled $144 million with $129 million net proceeds going to the Company. NuVasive's initial... more

At Your Request, HealthpointCapital Reinstates our Valuation Tables BY EDITOR, JANUARY 23, 2006

Back by popular demand are our Valuation Tables, providing you with valuable information on orthopedic company performances and comparative indices. It includes data from our own HealthpointCapital Medical Technology Index, Orthopedic Valuations and Comparables, and Orthopedic Index and Comparisons. Be... more

Orthopedic News Roundup 8-Dec-05 BY HUYEN NGUYEN, DECEMBER 8, 2005

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

Orthopedic Fundamentals Remain Strong BY HUYEN NGUYEN, NOVEMBER 8, 2005

This article was co-authored by Huyen Nguyen and John McCormick. As we move into the fourth quarter earnings calendar, we look back to third quarter reported earnings with some interesting thoughts. (1) Due to natural disasters, some major orthopedic players... more

Insiders Buying Stryker's Shares (EDITORIAL) BY JOHN MCCORMICK, NOVEMBER 3, 2005

It has never been empirically proven that insider (e.g. management and director) buying of a company's stock guarantees that the stock poised to rise, but it has also never been proven to be a bad sign. That's stating the obvious.... more

Orthopedic Stocks Decline: Our Thoughts BY JOHN CHOPACK, SEPTEMBER 30, 2005

The decline in the valuations of the orthopedic stock prices has reached epic proportions. The 7 leading orthopedic companies which derive a majority of their revenues from hip and knee sales are on average 30% off their 52-Week Highs. Biomet... more

Quarterly Earnings Calendar and Dial-in Numbers BY HUYEN NGUYEN, JULY 18, 2005

Since reporting season for orthopedic companies is just around the corner, we thought we'd put together a conference call calendar for the investment community to help you better organize your work schedule. (All conference calls will be reporting 2Q:05 numbers,... more

Encore Medical (ENMC:NASDAQ) Reports 12% Sales Growth in 3Q:04 BY JOHN CHOPACK, NOVEMBER 8, 2004

Encore reported its 3Q:04 financials on Monday of last week. Revenues totaled $30.6 million which was a 12% increase over 3Q:03. Earnings totaled $0.04 (excluding certain non-recurring expenses) which was a $0.01 higher than analysts were anticipating and a significant... more

Orthofix Posts 39% revenue increase for Third Quarter BY JOHN MCCORMICK, NOVEMBER 3, 2004

Last week Orthofix (Nasdaq: OFIX) announced that revenues for 3Q:04, were $71.5 million, an increase of 39 percent over the $51.3 million reported for 3Q:03. The 2004 revenue number includes the acquired Breg revenues. The Company noted that the incremental... 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


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