NuVasive officials still plan to close the spine tech company’s merger with Globus Medical in the present quarter, despite the FTC scrutiny. Along with reporting mixed second-quarter results, NuVasive CEO Chris Barry yesterday evening stuck by plans to merge with Globus Medical in the third quarter and create what would be the second-largest spine tech […]
Spine
Augmedics to acquire digital health assets from Surgalign auction
Augmedics announced today that it successfully bid for the digital health assets of Surgalign and Holo Surgical following an auction. Surgalign conducted the court-supervised marketing and sale process following its Chapter 11 bankruptcy filing in June. It conducted the auction process in accordance with bidding procedures approved by the U.S. Bankruptcy Court for the Southern […]
4-year data backs Relievant Medsystems’ Intracept ablation procedure
Relievant Medsystems announced four-year pooled data from two prospective clinical trials that support the use of its Intracept procedure. Intracept — a minimally invasive, FDA-cleared, same-day, outpatient procedure — treats chronic vertebrogenic low back pain. The procedure utilizes targeted radiofrequency energy to ablate the basivertebral nerve (BVN). This stops the nerve from transmitting pain signals […]
Relievant Medsystems unveils new tools for its ablation system
Relievant Medsystems announced today that it launched its next-generation access instruments for the Intracept procedure. Intracept — a minimally invasive, FDA-cleared, same-day, outpatient procedure — treats chronic vertebrogenic low back pain. It uses targeted radiofrequency energy to ablate the basivertebral nerve (BVN). This stops the nerve it from transmitting pain signals to the brain. The […]
Spine fusion company PainTEQ raises $35M
PainTEQ announced today that it raised $35 million in non-dilutive growth capital backed by its intellectual property (IP) portfolio. A lending vehicle managed by MVolution Partners (MVP) led the IP-backed debt financing. PainTEQ plans to use proceeds to expand the commercialization of its LinQ implantable sacroiliac (SI) joint stabilization system. Additionally, the company wants to […]
Xtant Medical closes $15M private placement
Xtant Medical (NYSE:XTNT) announced today that it closed its previously announced $15 million private placement. The company announced on Monday that it agreed with accredited investors to issue an aggregate of 20 million shares of common stock. Priced at 75¢ per share, the private placement totals gross proceeds of $15 million. After deducting fees and other estimated […]
Xtant Medical announces $15M private placement
Xtant Medical (NYSE:XTNT) announced today that it agreed to sell shares of its common stock in a private placement worth $15 million. Belgrade, Montana–based Xtant agreed with accredited investors to issue an aggregate of 20 million shares of common stock. Priced at 75¢ per share, the private placement totals gross proceeds of $15 million. The […]
ReWalk Robotics, Myomo to benefit from new proposed Medicare classifications
A new proposed rule from the Centers for Medicare and Medicaid Services (CMS) could benefit companies like ReWalk Robotics (Nasdaq:RWLK) and Myomo (NYSE:MYO). The proposed rule would establish a new regulatory definition of “brace.” In Myomo’s case, it aims to classify the L8701 and L8702 HCPCS codes as “brace.” Adding the definition of brace would […]
Former DePuy Synthes sales rep accused of defrauding Boston area hospital
Federal prosecutors claim a former DePuy Synthes sales representative defrauded an undisclosed Boston area hospital, with hundreds of thousands of dollars worth of spine products involved. According to a federal grand jury indictment announced this week in Massachusetts, Matthew Capobianco falsely represented on usage forms that more—and more expensive—Johnson & Johnson DePuy products were used […]
Augmedics closes $82.5M Series D, marks 4,000 U.S. patients treated with Xvision
Augmedics announced today that it closed a Series D financing worth $82.5 million just after recording the 4,000th U.S. patient treated with Xvision. The Xvision Spine System uses augmented reality to give surgeons “X-ray vision” during surgery. It launched new, FDA-cleared features and indications for the system in March. The system superimposes critical data onto […]
Surgalign receives Nasdaq delisting notice following bankruptcy filing
Surgalign (Nasdaq:SRGA) announced today that it received a delisting notice from the Nasdaq market after filing for Chapter 11 bankruptcy. Earlier this week, the company entered into an agreement to sell assets under a Chapter 11 bankruptcy. The asset purchase agreement enables Surgalign to sell substantially all U.S. hardware and biomaterial assets. It has a […]