NuVasive Inc. (NSDQ:NUVA) could be a big gainer today after the medical device company said yesterday that it more than tripled its 3rd-quarter profits, bested Wall Street’s earnings expectations and boosted its sales and earnings outlook for the balance of 2013.
Spine
Feds say physician-owned distributors increase spine surgery costs
The cost of spinal fusion surgeries is boosted when hospitals purchase medical devices from physician-owned distributors, according to Daniel Levinson, the inspector general of the U.S Health & Human Services Dept.
The POD businesses also create the potential for conflicts of interest, according to the report, which prompted a call for increased scrutiny of PODs from 3 senators last week.
Funding: Ohio’s SpineForm lands $1.6M FDA grant
The FDA’s Orphan Products Grants Program awarded a $1.6 million grant to Ohio medical device maker SpineForm, according to an agency press release.
SpineForm was the only medical device maker among the 15 grant recipients, with about $13.4 million going mostly to hospital research programs.
Medtronic signs deals with Lombard Medical, RTI Surgical
DePuy Synthes Spine, Brainlab expand collaboration
Johnson & Johnson (NYSE:JNJ) subsidiary DePuy Synthes Spine said it’s expanding its collaboration with Brainlab on surgical navigation and imaging devices, in addition to co-marketing Brainlab’s Airo Mobile Intraoperative CT.
Frontier Medical scores distribution deal with Zimmer
Mako Surgical closes Pipeline buyout
Mako Surgical (NSDQ:MAKO) said it closed its buyout of partner Pipeline Biomedical Holdings in a cash/stock deal, ahead of its own, $1.7 billion acquisition by Stryker (NYSE:SYK).
Medtronic touts EU regulatory win, commercial launch of new cervical cage
NuVasive launches XLIF Decade implant in the U.S.
NuVasive Inc. (NSDQ:NUVA) introduced a new implant to be used with its XLIF spinal fusion procedure in the U.S., the XLIF Decade plate.
The device is designed to provide surgeons with an option for a single-approach XLIF (eXtreme Lateral Interbody Fusion), NuVasive’s alternative to traditional spinal fusion procedures.
SpinalMotion raises another $11M, taking total to nearly $26M
SpinalMotion said it’s raised another $10.5 million, taking the total raised in the funding round to $25.5 million, according to a regulatory filing.
The Mountain View, Calif.-based medical device company raised the cash in an offering of equity, debt, options and warrants to 15 unnamed investors, according to the filing.