ConforMIS (NSDQ:CFMS) last week posted second quarter earnings that missed expectations on Wall Street and announced that the first procedures had been performed using its 3D designed and printed Conformis hip system implants. In its earnings release, the Billerica, Mass.-based company posted losses of $14.1 million. or 24¢ per share, on sales of $18.9 million for […]
ConforMIS shares down as Q4, FY2018 earnings show shrinking sales
Shares in ConforMIS (NSDQ:CFMS) have fallen slightly today after the medical device maker posted shrinking sales for its fourth quarter and full fiscal year 2017, despite having topped Q4 losses per share expectations on Wall Street. The Billerica, Mass.-based company posted losses of $11.9 million, or 27¢ per share, on sales of $20.5 million for the […]
ConforMIS prices $20m offering, releases prelim 2017 earnings
ConforMIS (NSDQ:CFMS) today priced an upcoming offering looking to raise $20 million after posting preliminary 2017 earnings yesterday that saw gross profits up from the previous fiscal year. In its offering, the Billerica, Mass.-based company said it is looking to sell approximately 13.3 million shares of common stock at $1.50 per share. The offering also includes a […]
ConforMIS jumps on analyst’s upgrade
ConforMIS (NSDQ:CFMS) shares closed up more than 12% yesterday after a BTIG analyst upgraded his rating on the company, which makes customized knee and hip implants. BTIG’s Ryan Zimmerman raised his rating on CFMS shares from “neutral” to”buy,” setting a price target of $4 per share. Of the 10 analysts covering the stock, six have set “buy” […]
ConforMIS picks up Broad Peak’s polishing & machining assets
ConforMIS (NSDQ:CFMS) said today it acquired the machining and polishing assets of Broad Peak Manufacturing for approximately $6.5 million. Billerica, Mass.-based ConforMIS said it will pay an initial $5.8 million in cash and an additional $750,000 in common stock in the purchase. As part of the acquisition, ConforMIS will integrate approximately 20 employees from the company, […]
Zimmer Biomet prez, CEO Dvorak unexpectedly resigns | Personnel Moves, July 12, 2017
Zimmer Biomet (NYSE:ZBH) said late yesterday its prez and CEO David Dvorak has resigned from his position at the head of the company, effective immediately, to be replaced on an interim basis by senior VP and CFO Daniel Florin until a permanent successor is named. The Warsaw, Ind.-based company said it is retaining “a leading executive search […]
ConforMIS triggers 2nd $15m tranche of $50m term loan
ConforMIS (NSDQ:CFMS) said this week it triggered the 2nd tranche on a term loan with Oxford Finance, bringing in $15 million for the company. The company originally inked a deal for the $50 million in debt financing in January. The debt financing was part of the Billerica, Mass.-based company’s strategy to fund commercialization of its custom joint […]
7 medtech stories we missed this week: June 30, 2017
From ConforMIS touting its knee replacement study to Consulting Radiologists’s new breast cancer detection tool, here are seven medtech stories we missed this week but thought were still worth mentioning. 1. Study: Low-dose CT scanning improves Ankylosing Spondylitis assessment A new study has shown that low-dose computed tomography (LD-CT) is more sensitive than X-rays for monitoring […]
FDA clears Conformis’ iTotal hip replacement
ConforMIS (NSDQ:CFMS) said today it won FDA 510(k) clearance for its primary iTotal Hip replacement system. The iTotal Hip system features the company’s iFit technology which uses single-use, custom 3D printed instruments and a limited amount of reusable instruments to deliver a customized hip replacement, the Billerica, Mass.-based company said. “Standard hip replacement surgery can be challenging, […]
ConforMIS touts head-to-head study of iTotal PS knee and Zimmer Biomet’s NexGen PS
ConforMIS (NSDQ:CFMS) said today a head-to-head study comparing its iTotal PS customized knee implant with the off-the-shelf NexGen PS implant made by Zimmer Biomet (NYSE:ZBH) showed that its device more closely replicated the natural motion of a human knee. The 31-patient study, presented at the annual meeting of the British Assn. for Surgery of the Knee last month in […]
ConforMIS raises $50 million for custom joint replacement implants
ConforMIS (NSDQ:CFMS) said today that it secured $50 million in debt financing from Oxford Finance LLC and that it has filed a shelf registration statement with the SEC. The debt financing and shelf registration are a part of the Bedford, Mass.-based company’s strategy to fund commercialization of its custom joint replacement implants. According to the 5-year […]
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