Smith & Nephew (NYSE:SNN) today announces that it has agreed to acquire Ceterix Orthopaedics and its NovoStitch Pro knee repair device. The deal calls for the British orthopedics and wound care giant to put up $50 million in up-front cash, with another $55 million due over the next five years, pegged to financial performance. Fremont, Calif.-based […]
Wright Medical loses bid for legal fees in Spineology patent spat
The U.S. Court of Appeals for the Federal Circuit this week shot down an appeal by Wright Medical(NSDQ:WMGI) seeking to obtain legal fees related to a patent infringement case against Spineology which was decided in Wright’s favor this summer. Wright appealed after the U.S. District Court for the District of Minnesota ruled that Wright could […]
Early stage ortho company Edge Surgical raises $4m
Early stage medical device company Edge Surgical said on Wednesday that it raised $4 million in a Series A round of financing, with funds slated to support increased manufacturing, marketing and sales of its EDG Ortho 65mm device. The Chicago-based company said that the Series A round also included $3 million raised plus a convertible […]
Conformis to lay of 10% of workforce
ConforMIS (NSDQ:CFMS) said yesterday that it plans to lay off about 10% of its workforce as it aims to put black ink in the ledger in 2021. Billerica, Mass.-based ConforMIS, which makes customized knee and hip implants, had 350 employees as of Feb. 28, according to a regulatory filing. The cuts are expected to cost about […]
Report: J&J willing to pay more than $400m to settle Pinnacle hip cases
Johnson & Johnson (NYSE:JNJ) is willing to put more than $400 million on the table to settle consumer allegations that its Pinnacle line of metal-on-metal hips were defective and caused problems including metal poisoning, according to a new report from Bloomberg. Officials at the New Brunswick, N.J.-based company agreed to payments of approximately $125,000 per case […]
In2Bones intros ‘see-through’ implant for flat feet
Orthopedic surgical device developer In2Bones announced the global launch of its “see-through” PitStop implant for children and adults with flat feet. One of the most common foot deformities, flat-foot often starts during adolescence and continues into adulthood. In2Bones (Memphis, Tenn.) developed the PitStop subtalar implant to restore the stability of a patient’s arch during the walking […]
Nexxt Spine launches Saxxony posterior cervical spine system
Nexxt Spine has received FDA 510(k) clearance and has commercially launched its Saxxony Posterior Cervical Thoracic System. The system is designed to stabilize cervical (C1 to C7) and thoracic (T1 to T3) spinal segments through posterior screw fixation. “The Saxxony System adds a robust posterior complement to our well received anterior cervical fixation offering as […]
OrthoPediatrics announces pricing of common stock offering
OrthoPediatrics (NSDQ:KIDS) said today it will price an underwritten follow-on public offering of 1.5 million shares of its common stock at $27 per share. The company said it plans to use the proceeds of offering to invest in implant and instrument sets for consignment to its customers, fund research and development activities, expand its sales and […]
Bruin Biometrics lands second SBIR award for ortho device
Bruin Biometrics (BBI) said it has won a $1.4 million Small Business Innovation Research (SBIR) Phase II program award from The National Institute of Arthritis and the musculoskeletal and skin division of the National Institutes of Health. BBI (Los Angeles) uses biometric sensor technology to aid clinicians in the early detection and monitoring of chronic, […]
Doc inventor wins $113m in royalties spat with Medtronic
A state court jury in Indiana last week reportedly awarded a $112 million decision to a local spine surgeon turned medical device inventor in his five-year royalties dispute with Medtronic (NYSE:MDT). Dr. Rick Sasso sued Medtronic in 2013, alleging that the world’s largest medical device maker shorted him on their royalties deal for the Vertex […]
Wishbone Medical picks up pediatric device maker Response Ortho
WishBone Medical said this week that it acquired Turkish pediatric fixation device maker Response Ortho for an undisclosed amount. Istanbul-based Response’s portfolio includes 30 pediatric orthopedic systems; WishBone had eight before the acquisition, the Warsaw, Ind.-based company said. Eighteen of the Response Ortho products are cleared or approved for the U.S. market. Wishbone said it’s opursuing […]
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