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February 4-7 - 2012 ORS Annual Meeting
February 7-11 - American Academy of Orthopaedic Surgeons
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Feb 22 @ 8:00 AM ET - Straumann
Feb 23 @ 8:30 AM ET - Integra LifeSciences
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Wright Medical
IART pre-announces . . . China Kanghui subsidiary receives FDA clearance for hip and knee systems . . . first procedure performed with Ellipse Technologies device . . . Pioneer Surgical announces first clinical use of nanOss Bioactive 3D . . . Wright Medical launches ORTHOLOC 3Di Ankle Fracture System and the QUICKDRAW Knotless Soft Tissue Fixation System . . . Globus appoints SVP and CFO . . . Vexim appoints CEO more
ATEC, ARTC, EXAC, IART, WMGI and more announce 3Q . . . FDA clears LDR's ROI-A Oblique ALIF cage . . . ATEC, Custom Spine, Globus, K2M, Medtronic and others debut new products at NASS . . . Relievant MedSystems starts enrolling SMART trial . . . Spine Wave starts EU NuCore study more
Robert Palmisano has been named President and CEO of Wright Medical, effective September 17th. He joins Wright Medical from ev3, an endovascular device company. The press release notes that during his two-year tenure, ev3's market capitalization more than tripled, from approximately $800 million in 2008 to $2.6 billion in July 2010. more
Wright Medical is launching an operational restructuring plan to enhance profitability and rejuvenate stagnant growth. The plan includes reducing international exposure and decreasing workforce by 6%. Meanwhile, Wright has voluntarily extended its DPA by 12 months. more
The FDA received more complaints about metal-on-metal hip implants this year to date than in the preceding four years combined, according to a New York Times analysis of FDA data. more
CNMD, IART, NUVA, OFIX, RTIX, WMGI and ZMH report 2Q . . . FDA releases draft guidance on device modifications . . . Osseon launches in India . . . Carbylan Biosurgery announces results from viscosupplement study . . . Lanx comments on data at IMAST more
DJO, Tornier, TSON announce earnings . . . OsteoGeneX receives grant funds . . . BMTI introduces new Augment kit size in Canada . . . Wright Medical commences full commercial launch of the INBONE II Total Ankle . . . Orthovita notes positive vertebroplasty coverage decision . . . RTI Biologics splits Chairman, CEO roles more
Additional resignations and a letter from the U.S. Attorney's Office alleging a "material breach" of Wright Medical's Deferred Prosecution Agreement are further clouding the company's compliance issues. Wright Medical disclosed on Wednesday afternoon that three executives resigned "without good reason," a month after CEO Gary Henley resigned and SVP and CTO Frank Bono was terminated. The letter from the USAO arrived on Thursday morning, according to the company's 1Q:11 press release. more
aap, Medicrea report 1Q sales . . . Orthopaedic Synergy to raise $9.5M . . . FDA clears ATEC's Solus . . . Titan Spine receives CE mark for Endoskeleton lumbar devices . . . Emerge Medical introduces trauma line . . . Life Spine holds surgeon training . . . Mazor announces 2,000th procedure . . . CareFusion's COO resigns more
Wright Medical announced this morning that CEO Gary Henley has resigned and SVP and CTO Frank Bono has been terminated, apparently over issues related to the company's compliance program. Chairman of the Board David Stevens has been named interim President and CEO. more
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
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
EXAC, OSSUR, SNN, WMGI announce 4Q . . . Biomet receives FDA clearance for the Signature patient-specific instrumentation system . . . FDA clears Vitoss BA Bimodal Bone Graft Substitute . . . Integra launces Allograft Cancellous Sponge . . . MedShape Solutions introduces the the ExoShape CL for ACL surgeries . . . ISTO Technologies announces new spine patent . . . InteliFUSE seeks dismissal of patent infringement suit with Biomedical Enterprises . . . Federal appeals court rules against Globus in Medtronic patent dispute . . . SEC concludes ARTC investigation . . . curasan, SYK ink distribution deal more
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
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
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
Adding to the body of literature on hip resurfacing is a new level-four study published in JBJS. The paper emphasized that the best outcomes were associated with appropriate patient and implant selection, with the authors concluding from a case series that metal-on-metal resurfacing does offer long-term device survival in young, active patients. more
MDT reports F2Q:11 . . . Bacterin, Sonoma Orthopedics announce financing rounds . . . curasan AG receives Health Canada approval for Cerasorb M ORTHO . . . Medtronic launches SOVEREIGN Spinal System in Europe . . . Blue Cross Blue Shield of North Carolina releases new lumbar spinal fusion guidelines . . . Stryker supports South Carolina medtech development consortium more
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
Wright Medical Group announced yesterday that it has settled with the DOJ over their investigation into Wright's consulting practices. The company has entered into a 12-month deferred prosecution agreement (DPA) with the government, under which Wright will not face charges... more
ATEC, ARTC, BMTI, DJO, EXAC, MAKO, VITA, RTIX, SNN, SMA, TSON, WMGI report 2Q:10 . . . Bacterin closes private placement . . . Wright Medical launches the EVOLUTION Medial-Pivot Knee . . . VertiFlex enrolls 150th patient in their IDE study more
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
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
Earnings ArthroCare reported 1Q:10 revenues of $90.6 million, up 15% over the year-ago period and beating estimates by $5.0 million. Among the company's orthopedics division, sports medicine sales were $60.4 million and spine sales were $4.4 million. Net income for... more
 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
Earnings DJO reported 4Q:09 revenues of $257.2 million, up 5% over 4Q:08, with domestic rehab sales up 3% and domestic surgical implant sales up 8%. The company attributed the latter largely to "strong sales of our Reverse Shoulder Prosthesis." Net... more
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
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
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
Wright Medical announced that their Conserve Plus hip resurfacing device received long-awaited FDA approval, which the company said was supported by clinical data on over 1,300 patients with up to eight years of follow-up. The company plans to initiate surgeon... more
Earnings Anika Therapeutics reported 3Q:09 revenues of $10.1 million, representing an 18% increase over the year-ago period and missing estimates by $0.3 million. Joint Health sales, including the Orthovisc and Monovisc products, were up 31% to $6.1 million. Anika noted... more
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
Funding MedShape Solutions closed a $10 million round of equity funding from unnamed private investors. The company will use the funds to develop its portfolio of PEEK-based shape-memory devices. An Indianapolis foundation granted $7.0 million for the creation of OrthoWorx,... more
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
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
Earnings aap Implantate reported 1H:09 sales of EUR 14.7 million ($20.7 million), representing a 10% decreased from 1H:08. Adjusting for one-time income, sales were down 3%, and in the second half of 2009, the company "anticipates a recovery in demand... more
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
M&A The bankruptcy trustee for Innovative Spinal Technologies announced plans to pay creditors by selling the company's patent portfolio and other IP. The company's products include the AXIENT motion-preserving pedicle screw system; the PARAMOUNT MIS pedicle screw system; the PARAMOUNT... more
Earnings Medtronic reported FQ4:09 revenue of $3.8 billion, representing a 5% increase (constant currency) over FQ4:08 and in line with estimates. Adjusted EPS for the quarter was $0.82, also in line with estimates. Spine and biologics revenue was $881.0 million,... more
Earnings aap Implantate reported 2008 revenues of EUR 31.9 million ($45.0 million), a 14% increase over 2007 sales. Sales in the Trauma & Orthopedics division grew by 35%. Biomaterials sales increased by 4%, with the company attributing slower growth to... more
Earnings Biomet reported FQ3:09 revenues of $615 million, a 7% (constant currency) increase over FQ3:08. Among segments, recon reported growth of 7%, with hip up 10%, knee up 9%, fixation up 4% and dental down 10%, which the company attributed... more
The orthopedic industry convened in Las Vegas last week for what was a slightly quieter AAOS than we've seen in recent years, shadowed by worries about the economy. More than new products and deals, the tone at this year's conference... more
Earnings Artimplant reported 4Q:08 revenues of SEK 4.6 million ($0.6 million), down from SEK 5.0 million ($0.8 million) in 4Q:07. During the quarter, the company reported sales of 900 Artelon Spacers (down from 1,100 in 4Q:07) and 300 units of... more
Earnings Exactech reported 4Q:08 revenues of $40.3 million, representing a 22% increase over 4Q:07 and beating estimates by $0.4 million. Net income was $3.1 million, or $0.24 per share, representing a 15% increase over 4Q:07 and beating estimates by $0.04.... more
Wright Medical held their annual detailed guidance call yesterday, reiterating 4Q:08 revenue guidance in the $119 million to $122 million range. This affirms that revenue expectations will remain stable despite the macro economic climate. For the full year 2008, management... more
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
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
Earnings Cryolife reported 2Q:08 revenues of $27.2 million, up 18% over the year-ago period and beating estimates by $1.4 million. Orthopedic tissue processing revenues declined 76% to $0.3 million, as the company has discontinued that segment of the business. Net... more
Last fall, Biomet, Medtronic, Smith & Nephew, Stryker and Zimmer announced they were under investigation by the SEC for possible violations of the Foreign Corrupt Practices Act (FCPA), which is designed to prevent U.S. companies from making payments to foreign... more
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
Earnings Alphatec Holdings reported consolidated revenues for 1Q:08 of $23.2 million, an increase of 19% from the year-ago period. U.S. revenues for the first quarter of 2008 were $18.6 million, an increase of 12% from the year-ago period. Asia revenues... more
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 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
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
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
Wright Medical announced late yesterday that the company received a DOJ subpoena requesting documents on any surgeon consulting and professional service agreements dating from 1998 to the present. The company said the subpoena pertained specifically to agreements relating to hip... more
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
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
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
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
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
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
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
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
Last week, we attended the Society for Biomaterials' annual conference. The event showcases the latest academic research and its broad applications across medical specialties. Roughly a third of the poster presentations focused on orthopedics, and most of the rest related... more
Earnings Stryker announced 1Q:07 earnings on Wednesday. Net income increased to $243.5 million, or $0.59 per share, beating analysts' estimates of $0.58 per share. In the comparable quarter, net income was $147.5 million, or $0.36 per share. Revenues increased 13%... more
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
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 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
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
Wright Medical Group reported 2Q:06 net sales of $87.5 million, a 6% increase over 2Q:05 (foreign currency had no material impact on sales). Net income for the quarter was $2.8 million, or a diluted EPS of $0.08, beating analysts' estimates... more
Earnings Results: Biologics: Anika Therapeutics announced 2Q:06 net sales increased 11% to $7.1 million. Product revenues grew 74% while licensing, milestone and contract revenue was down 77%. The large product sales growth was partially driven by higher demand for OrthoVisc®;... more
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
Appointment: Stryker Corp. appointed three officers to the company: Luciano Cattani, Vice President, Group President, International; Elizabeth A. Staub, Vice President of Regulatory Affairs and Quality Assurance, Stryker Corporation and Bronwen R. Taylor, Chief Compliance Officer, Stryker Corporation. Mr. Cattani... more
The first group of orthopedic companies reported their 1Q:06 this week and took in $5.3 billion so far. The total aggregated revenues for the quarter were up by 7% from $4.9 billion in 1Q:05. The industry netted $637.8 million, a... 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 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
Financing: BioMimetic Therapeutics, Inc. filed a registration statement for an Initial Public Offering. Earnings: Medtronic 3Q Earnings climb 23 percent. CryoLife fourth quarter 2005 revenues increased 13% over fourth quarter 2004 Gross margins for full year 2005 increased to 53%... more
Last night Wright (WMGI) reported slightly better than expected results, but lowered 2006 guidance dramatically. Revenue guidance dropped modestly, but EPS guidance was knocked down substantially because Wright will increase investments in R&D and sales and marketing. 2006 Guidance, and... 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 has been a busy week for many CEOs and CFOs in the orthopedic device sector. In the past two weeks orthopedic companies reported 3Q:05 sales of $4.7 billion which was a 12% increase over the 3Q:04. Net earnings for... more
Is Wall Street's shrill reaction to hip and knee implant pricing concerns overblown? Even with sophisticated econometric tools such a question is difficult to evaluate because we are dealing with an expectations driven phenomenon. So we have our doubts about... more
While Medtronic was the big winner this week, Wright Medical ("WMGI") captured more headlines with two important news items that have negatively impacted their stock price. On Wednesday, WMGI's stock price suffered a huge loss with 20% decline intraday due... more
Laurence Y. Fairey's resignation as President and CEO of Wright Medical has been accepted by the board of directors. The resignation follows Wright's recent announcement that revenues would fall $4 million shy of its previous stated guidance for the 3Q:05... more
Wright Medical announced its preliminary 3Q:05 financial results; revenues are anticipated to be $4 million lower than its previous guidance and earnings will range between $0.10 and $0.11 which well below analyst expectations of $0.17. Wright blamed its domestic biologics... more
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
The rate of growth in the hip market has been somewhat lackluster since the 2Q:04. That quarter marked the first two FDA approvals for ceramic-on-ceramic hips for Stryker and Wright Medical. For the 12 months prior to the 2Q:04, Stryker... 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
About six months ago I had an individual come into my office asking about an article he had recently read in a local newspaper regarding hip resurfacing. The man was approximately 40 years old and was too young for a... more
With most of the major large joint market share leaders reporting their 1Q:05 financials, we examine the strength of the market. At first glance revenue growth of hip products seems to be slowing while knee growth accelerates. Hips We estimate... more
Wright reported 1Q:05 revenues of $82.6 million which was a 10% increase over the 1Q:04. Excluding the effect of currency, WMGI revenues increased 9%. The 10% growth in revenues was almost 3% slower than the revenue growth reported during the... 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
Wright reported both 4Q:04 and year-end 2004 financials on Thursday evening. 4Q:04 revenues totaled $77.7 million a 13% increase over 4Q:03 revenues and at the upper end of management's previous guidance of revenues of $76-$78 million. Revenues for the year... more
Wright Medical (WMGI:NASDAQ) held its annual analyst guidance call to provide management's outlook for sales, earnings and product trends for the 4Q:04, year-end 2004/2005 and 2006. The forecasts, we think, look strong: 4Q:04 - The Company has reaffirmed its October... more
Wright Medical reported a blistering 28% rate of growth for its biologics products as well as a solid 23% rate of revenue growth for its hip products. Clearly, this is a company that is gaining market share from biomaterials. Hip... more
WMGI announced that it was lowering its previous earnings per share guidance of $0.13-$0.15 to a range of $0.09-$0.11, or approximately $3.2 - $3.9 million. However, the Company maintained its current revenue projections for the 3Q:04 of $68 - $70... 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
In a common trend this earnings season, Wright Medical reported in our opinion one of the best second quarters of 2004 in the orthopedic sector and investors congratulated the Company by dumping shares. Wright Medical is one of four large... more
Device Applicant 510(k) Decision Date 1 acumed lower extremity congruent plate s acumed llc K033639 1/15/2004 2 titanium cannulated interference screw advanced biomaterial K033749 2/23/2004 3 aesculap absorbable craniofix aesculap, inc. K040080 3/31/2004 4 abc caudal and cranial extension... more
Jumping back into the fray after 4 years of semi-retirement, former Sofamor Danek and Richards senior executive, Laurence Fairey has agreed to become President and Chief Operating Officer of Wright Medical today. Laurence Fairey is one of the best regarded... more
We tabulated the five largest general orthopedic companies' financial results for the 1Q:04. The companies include Stryker, Zimmer, Biomet, Smith & Nephew and Wright Medical, each of which has a market capitalization in excess of $1 billion. Although many subscribers... more
Wright Medical (WMGI:NASDAQ) reported that revenues totaled $74.9 million during the 1Q:04 which was a 28% increase (22% on a constant currency basis) over the 1Q:03. WMGI also reported that $6.6 million of these revenues flowed through the P&L to... more
Stryker Corp. (SYK:NYSE), in similar fashion to last year, brought and introduced a majority of its operational leaders of its various operating divisions. However, a significant portion of the analyst meeting, especially Q&A, centered around Stephen MacMillan, President & COO,... more
For the just completed quarter and year, Wright Medical (NASDAQ:WMGI) reported, we believe, the best quarter and year in orthopedics. First, Wright's seven year investment in the Investigational Device Exemption (IDE) ceramic-on-ceramic clinical hip trial delivered huge dividends in 2003.... more
Guidance to 2005? This is a famously conservative management, so to guide out to 2005 is cause to sit up and take notice. What's going on at Wright medical? Strong biologics and ceramic on ceramic hip components certainly. But, we... more
At the 78th annual reunion of the Société Française de Chirurgie Orthopédique et Traumatologique (SO.F.C.O.T.) held last week in Paris, the focus was clearly on new materials - ceramics, plastics and biologics. And among the most successful new materials companies... more
For the third quarter, with three more companies yet to report, public orthopedic companies have reported that their sales grew 17.5% on a year-over-year basis. To put that into perspective, U.S. GDP grew at a 7.2% annual rate in the... more
Last week we published our sales and earnings forecast as well as an analysis of future prospects for two companies, Exactech and Regeneration Technologies. We've posted the summary of our analysis for each company on First Call (the Thompson Financial... more
Earnings season starts this week with the Tuesday, April 15th release of DePuy/Acromed's first quarter results (as buried in JNJ's release) and continues until mid-May when Sofamor Danek's numbers for the April quarter (Medtronic, Sofamor Danek's parent, is on an... more
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