Conformis (NSDQ:CFMS) and Zimmer Biomet (NYSE:ZBH) have agreed to settle all patent disputes over Conformis’ knee and hip replacement products and Zimmer’s knee, shoulder and hip replacement devices, according to an SEC filing today. The two companies have also agreed to cross-license their respective technologies, and Zimmer Biomet will pay Conformis $9.6 million by January 15, 2021, […]
Conventus Orthopedics acquires Flower Orthopedics
Conventus Orthopaedics announced today that it acquired single-use, sterile-packaged implant and instrument kit maker Flower Orthopedics. Flower Orthopedics develops the sterile FlowerCube system for eliminating expensive set processing, enabling surgical facilities to complete back-to-back cases, enhance efficiency and maximize resources, according to a news release. In addition to its fixation portfolio, Flower also drew interest […]
Nuvasive announces $400m offering
NuVasive (NSDQ:NUVA) announced that it intends to offer $400 million aggregate principal amount of convertible senior notes in a private offering. The San Diego-based spine technology company is offering the notes, due in 2023, as well as granting initial purchasers a 13-day option to purchase up to an additional $50 million in notes. According to a […]
Smith & Nephew launches unicompartmental knee system
Smith & Nephew (NYSE:SNN) today announced the launch of its new Journey II Unicompartmental Knee System. The system is a highly personalized approach to partial knee arthroplasty through a modular, two tray configuration. It works by introducing a lateral specific tibia baseplate and an increased size range for femoral components and medial tibia baseplates to optimize […]
U.K. probing Stryker-Wright Medical merger
The U.K. Competition and Markets Authority has begun an investigation into the proposed $4.7 billion merger of Stryker (NYSE:SYK) and Wright Medical (NSDQ:WMGI). Announced in November 2019, the merger would have Stryker pay $30.75 per share to acquire all of the issues and outstanding ordinary shares of Wright Medical. With outstanding convertible notes, total enterprise value is […]
Zebra Medical Vision wins FDA clearance for AI to predict osteoporosis
Zebra Medical Vision announced today that it received its fifth FDA 510(k) clearance for its Vertebral Compression Fractures (VCF) product. The Kibbutz Shefayim, Israel-based company’s latest artificial intelligence-based product automatically identifies findings suggestive of compression fractures, which enables clinicians to place patients that are at risk of osteoporosis in treatment pathways that can prevent potentially […]
Conformis slides on missed Q1 projections
Conformis (NSDQ:CFMS) shares plummeted today on first-quarter results that came up considerably short of the consensus forecast. The Billerica, Mass.-based joint replacement implants company posted losses of -$9.4 million, or -14¢ per share, on sales of $16.3 million for the three months ended March 31, 2020, for a 23.3% bottom-line slide on a sales decline of […]
Zimmer Biomet loses $509m in Q1, expects significant negative impact in Q2
Zimmer Biomet (NYSE:ZBH) today reported first-quarter results that failed to meet the consensus forecast on Wall Street, with the company warning that the COVID-19 pandemic will have a “significant negative impact” in Q2. The Warsaw, Ind.–based orthopedic device giant lost $509 million, or –$2.46 per share, on sales of $1.78 billion for the three months ended […]
Orthofix up on Street-beating Q1 earnings
Orthofix (NSDQ:OFIX) shares ticked up today on first-quarter results that topped the consensus earnings forecast, despite a decrease in revenue. The Lewisville, Texas-based orthopedic device company posted profits of $25.7 million, or $1.32 per share, on sales of $104.8 million for the three months ended March 31, 2020, multiplying its bottom line by nearly 30 […]
Smith & Nephew’s Q1 revenues take a hit amid COVID-19 pandemic
Smith & Nephew (NYSE:SNN) shares slightly ticked up today on first-quarter results that were heavily impacted by the ongoing COVID-19 pandemic. The London-based orthopedics and wound care giant posted a sales decline of 5.7%, dropping from $1.2 billion in sales this time last year to $1.1 for the quarter ended March 28, 2020. In March, the […]
NuVasive lands 2 510(k)s, launches spinal surgery device
NuVasive (NSDQ:NUVA) announced that it received FDA 510(k) clearance for its Modulus ALIF and Cohere TLIF-O offerings for thoracolumbar procedures. The San Diego-based company expanded its Advanced Materials Science (AMS) implant portfolio with the clearances, along with the commercial launch of the Modulus extreme lateral interbody fusion (XLIF) dual-sided plate. NuVasive’s Modulus anterior lumbar interbody fusion (ALIF) […]
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