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 […]
Ceterix Orthopaedics said yesterday it won expanded FDA 510(k) clearance for its NovoStitch Pro meniscal repair system, clearing the system for use with a size 0 suture cartridge. The Fremont, Calif.-based company’s NovoStitch Pro system is designed to allow surgeons to place stitches arthroscopically in tight joint compartments to treat meniscal tears that had previously […]
Ceterix Orthopaedics said today it won FDA clearance for its next-gen NovoStitch Pro meniscal repair system. The Fremont, Calif.-based company said the newly cleared device is designed to allow surgeons to place stitches arthroscopically in tight joint compartments to treat meniscal tears that had previously been unrepairable. “This FDA clearance is another important milestone in our […]
Novartis pharma head Epstein steps away, most recent loss in string of top-level turnovers Novartis (NYSE:NVS) is facing an upheaval in its top management, seeing 7 departures over the last 5 months as shares fell 25% since last July. Last week, Novartis pharmaceuticals head David Epstein quit as his division was split up. Earlier in the month, U.S. […]
Ceterix Orthopaedics said today it won FDA 510(k) clearance for its NovoStitch Plus meniscal repair system designed for patients with meniscal tearing. The device is a next-generation version of the company’s NovoStitch, designed to treat a variety of different meniscal tears, the Menlo Park, Calif.-based company said. “The main difference is the NovoStitch Plus has […]
Venture capital firm New Enterprise Associates said today it picked up ex-Medtronic (NYSE:MDT) executive veep Dr. Stephen Oesterle as a venture partner for the firm. Prior to being an executive veep for the medical giant, Oesterle served as senior veep of medicine and technology, and served as a member of the executive committee for 14 years, […]
Ceterix Orthopaedics said last week that it took out a $35 million term loan with CRG it plans to use to advance its NovoStitch suture passing device for surgeries to repair torn menisces in the knee.
Menlo Park, Calif.-based Ceterix said the NovoStitch device is designed to help surgeons place sutures in patterns that used to require open procedures or weren’t possible at all.
California-based Ceterix Orthopaedics plans to boost its marketing efforts with the help of $18 million in new financing.
The company hopes to widen the reach of its surgical tools, which help physicians place stitches in hard-to-reach places while protecting other tissue. Ceterix’s technology is currently in use by more than 100 physicians in the U.S., according to a company statement.
Ceterix Orthopaedics landed $19.5 million from 5 investers, according to a regulatory filing.
The Menlo Park, Calif-based surgical tools maker said it plans to raise an additional $1.10 million, Medcity News reported.