Alphatec (NSDQ:ATEC) said it closed the $80 million sale of its international operations and distribution channels to Globus Medical (NYSE:GMED) and announced a 1-for-12 reverse stock split. Carlsbad, Calif.-based Alphatec said today that Globus paid $80 million in cash for its international operations and distribution channel, and inked a 5-year senior secured credit facility for up to $30 million. Alphatec also […]
Spine
Intralink-Spine touts early safety data for Réjuve cross-linking device
Spinal device developer Intralink-Spine today released 1-month clinical results from a trial of its Réjuve system, touting early reduction of lower back pain in its 4 safety study patients. Rejuve is an injectable crosslinking device designed to mechanically strengthen and stabilize spinal discs and joints to reduce pain, according to the company’s site. “Patients experienced […]
Amedica wins expanded FDA indication for Valeo II spinal fusion devices
Amedica (NSDQ:AMDA) said yesterday it won expanded FDA clearance for additional sizes of its Valeo II lateral lumbar interbody fusion device. The Valeo II lateral lumbar fusion device is made out of proprietary medical grade silicon nitride ceramic and includes 2nd-generation instrumentation for improved patient safety, the Salt Lake City, Utah-based company said. The device […]
Globus wins patent infringement suit lodged by Flexuspine
Globus Medical (NYSE:GMED) last Friday marked a win in a patent spat with device maker Flexuspine, after a Texas federal jury cleared the company of any infringement claims after a 5-day trial. The case, filed by Texas-based Flexuspine, claimed that Globus infringed on 5 of its spinal correction device patents, but was trimmed to 3 claims […]
SeaSpine acquisition of NLT Spine could be worth $53m
SeaSpine (NSDQ:SPNE) said yesterday that it agreed to acquire Israeli firm NLT Spine in a deal that could wind up being worth $52.5 million. Kfar Saba, Israel-based NLT makes a line of minimally invasive spinal implants for lumbar fusion procedures that are designed to expand after implantation. The deal with Carlsbad, Calif.-based SeaSpine, which spun out of Integra […]
Northwestern Memorial joins InVivo Therapeutics neuro-spinal scaffold trial
InVivo Therapeutics (NSDQ:NVIV) said today that Chicago’s Northwestern Memorial Hospital is the 23rd site to join the clinical trial of its neuro-spinal scaffold. “Chicago, as with other major metropolitan areas, sees a disproportionally high number of acute, traumatic spinal cord injuries and unfortunately, with complete spinal cord injuries, trauma teams have limited tools at their disposal to […]
Mazor X unveiling triggers another $20m from Medtronic
Mazor Robotics (NSDQ:MZOR) said today that the unveiling last month of its Mazor X robot-assisted spine surgery platform triggered the 2nd step in a 3-stage equity deal with Medtronic (NYSE:MDT). Medtronic paid $20 million for a 3.4% stake in Mazor at $21.84 apiece, the trailing 20-day average for MZOR shares, the Caesarea, Israel-based company said. It’s part of a 2-stage deal […]
Spine Wave launches Velocity expandable lateral spine implant
Spine Wave said today it is launching its Velocity L expandable interbody device and XLR II lateral access system, both of which are designed for lateral surgical approaches for spinal procedures. The expandable device is designed to minimize impaction of large lateral implants into collapsed disk spaces through a slim profile which expands to the desired disc […]
Medicrea raises $22m, taps Globus Medical co-founder Kienzle
Medicrea (EPA:ALMED) said it raised a funding round worth about $22.3 million for its UniD patient-specific spinal rod technology and tapped GMEd co-founder Richard Kienzle as its new chief commercial & business development officer. New York City and Lyon, France-based Medicrea said the €20 million round consisted of about $16.8 million (€15 million) in 4-year, 6.75% […]
Synthes settles; doc, hospital cleared in Norian XR bone cement suit
Johnson & Johnson (NYSE:JNJ) subsidiary DePuy Synthes last week reportedly settled with plaintiffs shortly before a Washington state court jury cleared Dr. Jens Chapman and the University of Washington’s Harborview Medical Center in a case filed by the families of a patient who died on the operating table minutes after injection with DePuy Synthes’ Norian XR […]
InVivo Therapeutics Q2 meets the street, shares stay steady
InVivo Therapeutics (NSDQ:NVIV) shares stayed steady after the company released 2nd quarter earnings that met the street on losses per share. The Cambridge, Mass.-based company reported losses of $5.2 million, or 16¢ per share, for the 3 months ended June 30, 2016. That amounts to a 50% reduction in losses for InVivo Therapeutics compared with same […]