Colfax Corp.’s DJO has made a strategic investment in Insight Medical Systems and its Augmented Reality Visualization and Information System (ARVIS) for orthopedic surgeries. DJO did not disclose the size of its investment in its news release. But Insight Medical Systems recently reported to the SEC on March 19 that it raised nearly $8 million […]
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Colfax to split to create new orthopedic device giant
Colfax (NYSE:CFX) plans to split into two publicly traded companies early next year — with businesses including DJO forming a new stand-alone orthopedic device company. The split — announced yesterday — will create a to-be-named medical device company headquartered in Wilmington, Del., with a significant presence in Dallas. Present Colfax CEO Matt Trerotol will lead […]
Federal lawsuit over Boston Sci pelvic mesh heads to trial
A federal judge in Arkansas has ruled that most counts in a pelvic mesh lawsuit against Boston Scientific can go to trial. Kortney Cline sued Boston Sci in 2014, claiming that she suffered injuries after implantation with the company’s Obtryx trans-obturator mid-urethral sling in 2009. Cline’s case was recently transferred to federal court in Arkansas […]
Zimmer Biomet wants federal court to throw out $3.55M hip implant judgment
Zimmer Biomet (NYSE:ZBH) wants either a judgment or a new trial after a federal jury’s $3.55 million award in a metal-on-metal hip implant case. The jury awarded the money to Lori Nicholson and her husband Willis in November for injuries sustained as a result of the M2A Magnum. In a brief filed Feb. 12, Zimmer Biomet claimed […]
Former Medtronic exec to lead Zimmer Biomet spinoff
Zimmer Biomet (NYSE:ZBH) announced today that Vafa Jamali will serve as the CEO of “NewCo,” the spine and dental business spinoff that Zimmer Biomet expects to close in mid-2022. A more than 25-year medtech veteran, Jamali most recently served as chief commercial officer of Rockley Photonics. Before that, he was SVP and president of Respiratory, Gastrointestinal […]
Are smart knee implants the next big thing in ortho?
Orthopedic device industry watchers think so, and Zimmer Biomet appears set to be the first out of the gate this year through a partnership with the startup Canary Medical. What do drug-eluting stents and “smart” implantable medical devices have in common? It turns out it’s a lot, at least according to Dr. Bill Hunter. The […]
BREAKING: Zimmer Biomet to spin off spine and dental businesses
Zimmer Biomet (NYSE:ZBH) — one of the world’s largest orthopedic device companies — will be a bit smaller going forward. The Warsaw, Ind.–based company announced today that it will spin off its spine and dental businesses into a new, independent, publicly-traded company called NewCo. Zimmer Biomet plans to complete the transaction by mid-2022. The businesses that […]
Edwards Lifesciences misses on earnings in Q4
Edwards Lifesciences (NYSE:EW) posted fourth-quarter earnings this evening that missed the consensus forecast on Wall Street, though the company met revenue expectations. The Irvine, Calif.–based cardio device company reported profits of $309.5 million, or 49¢ per share, on sales of $1.19 billion for the three months ended Dec. 31, 2020, for a bottom-line gain of 10.5% […]
Stryker beats the Street on earnings but misses on revenue in Q4
Stryker (NYSE:SYK) posted fourth-quarter earnings this evening that beat the consensus forecast on Wall Street, but the company missed slightly on revenue. The Kalamazoo, Mich.–based orthopedic device giant — the world’s largest — reported profits of $568 million, or $1.49 per share, on sales of $4.262 billion for the three months ended Dec. 31, 2020, for […]
The top 5 orthopedic device industry stories of 2020
The COVID-19 pandemic presented a host of challenges, but major mergers in the orthopedic device space still got done. A deadly coronavirus pandemic is certainly not a good environment for people to go in for knee and hip surgeries. But even amid a tough business climate, orthopedic device companies worked through big M&A deals, and […]
Exactech to distribute Bodycad’s Reflex Uni knee
Exactech announced today that it has signed an agreement to be the exclusive U.S. distributor of Bodycad‘s Reflex Uni knee. The Reflex Uni expands Exactech’s Truliant primary and revision knee system to include a personalized unicompartmental implant, designed to fit each person’s unique anatomy. Exactech is touting the Truliant Reflex Uni as the latest addition […]
