Wright Medical (NSDQ:WMGI) yesterday beat the consensus for both sales and earnings with its third-quarter results and raised its outlook for the rest of 2018. The Memphis-based orthopedics firm slashed its losses by -67.8% to -$42.5 million, or -38¢ per share, on sales growth of 13.8% to $194.1 million for the three months ended Sept. […]
Wright Medical closes $435m Cartiva buy
Wright Medical (NSDQ:WMGI) said today that it closed its $435 million buyout of Cartiva and its synthetic cartilage implant for treating arthritis in the big toe. Alpharetta, Ga.-based Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won CE Mark approval in the European Union back in 2002 and is also on the market in […]
Wright Medical slides after pricing offering to back Cartiva buyout
Wright Medical (NSDQ:WMGI) shares traded down this morning after it priced an offering it plans to use to fund the $435 million buyout of Cartiva. Wright said it plans to finance the Cartiva purchase, announced yesterday morning, with an equity offering. Alpharetta, Ga.-based Cartiva makes a synthetic cartilage implant for treating arthritis in the big toe. Yesterday […]
Wright Medical puts up $435m for Cartiva
Wright Medical (NSDQ:WMGI) said today that it agreed to pay $435 million in cash to acquire Cartiva and its synthetic cartilage implant for treating arthritis in the big toe and raised its sales outlook for the rest of the year. Alpharetta, Ga.-based Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won […]
Stryker launches SonicAnchor extremity fixation anchor
Stryker (NYSE:SYK) said today that it’s launching a new fixation anchor for extremity repair surgeries, SonicAnchor, that’s designed to be liquefied by sonic energy and flow into cancellous bone. Kalamazoo, Mich.-based Stryker said the SonicAnchor device’s tip is made of a bioresorbable polylactide polymer that’s ready for stable fixation 5 seconds after application. “SonicAnchor is transforming […]
Cartiva wins PMA for big toe synthetic cartilage implant
Cartiva said today that it won pre-market approval from the FDA for an implant designed to treat arthritis in the big toe. Alpharetta, Ga.-based Cartiva said the device is the 1st synthetic cartilage implant approved for the U.S. market. It’s meant as an alternative to the standard of care, a fusion procedure using screws and plates. […]
DT Medtech acquires Hintermann foot & ankle assets
DT MedTech said it acquired the Hintermann lower extremities assets for an undisclosed amount, including the H3 total ankle replacement and revision system and the Kalix II implant designed to treat flat-foot deformities. Baltimore-based DT MedTech said the deal also includes a system for patients cobalt-chrome sensitivities, plus the instrumentation and consumables for the implants, which were developed by Dr. Beat […]
Wright Medical wins FDA nod for Salvation external fixation device
Wright Medical plans $400m debt offering
Wright Medical (NSDQ:WMGI) said today that it plans to float $400 million worth of senior debt it plans to hedge with cash convertible note hedge deals with institutional investors.
Sonoma Orthopedic raises $12 million for ankle implant
Sonoma Orthopedic Products added $12 million to its coffers, thanks to private equity shop First Analysis, saying it plans to use the proceeds to get its "flexible-to rigid" ankle implant on the U.S. market.
Conventus Orthopaedics raises $24m for arm fracture implants
Conventus Orthopaedics said it closed a Series AA round worth $24 million it plans to use to commercialize 1of its self-expanding extremities implants and advance R&D on another.
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