As hospitals brace for another surge in COVID-19, medical device companies have to worry about more than temporary reductions in elective surgeries. Hospitals struggling to account for every dollar are beginning to push for new ways to select and pay for new medical technology, particularly large capital items like robotic surgery systems, according to […]
Globus Medical
Globus acquires StelKast for $28.4m
Globus Medical (NYSE:GMED) has acquired most of the assets of privately held orthopedics manufacturer StelKast for $24.1 million. The purchase price could increase by $4.3 million if certain product and sales milestones are met, including a robot-assisted system for joint reconstruction expected to launch in late 2020. McMurray, Penn.-based StelKast designs, manufactures and distributes implants […]
Intersect ENT lures Hologic’s West for CEO | Personnel Moves, June 28, 2019
Intersect ENT (NSDQ:XENT) yesterday named Hologic (NSDQ:HOLX) executive Tom West to be its new president & CEO effective July 22. West, who has been president of Hologic’s diagnostics solutions division since October 2014, is a Johnson & Johnson (NYSE:JNJ) veteran, Menlo Park, Calif.-based Intersect ENT said. The company in May tapped lead director Kieran Gallahue to […]
7 companies using robot-assisted surgery to transform orthopedics
It seems as if every orthopedic device company is getting involved in robot-assisted surgery — rolling out robots to assist surgeons operating on the knee, hip, shoulder or spine. Two events in recent years especially signaled that robots were coming into their own in the space: Stryker spent $1.7 billion for Mako Surgical in order […]
Is the orthopedic device space in the midst of a robot revolution?
Stryker’s success with its Mako robot-assisted surgery platform has other orthopedic device companies hastening to enter the space. The big question is whether long-term outcomes will justify the expensive technology. More than five years after spending $1.7 billion to acquire Mako Surgical, Stryker is leading the way bringing robot-assisted surgery to the orthopedic space. The […]
Globus Medical misses consensus on Q1 results
Globus Medical (NYSE:GMED) posted first-quarter results today that missed the consensus forecast on Wall Street, but expects higher earnings by the end of the year. The Audubon, Penn.-based company reported profits of $33.2 million, or 33¢ per share, on sales of $183 million for three months ended March 31, for a bottom-line loss of 16% on […]
Globus Medical launches Fortify VA corpectomy spacer system
Globus Medical (NYSE:GMED) said yesterday that it launched the Fortify VA variable angle corpectomy solution. The newly launched Fortify VA is an expandable corpectomy spacer designed to improve anatomical fit using an anterior cervical approach or an approach from the thoracolumbar spine, the Audobon, Penn.-based company said. The Fortify VA provides up to 16° of angulation […]
Cantel Medical taps ex-Cardinal Health COO Fotiades for CEO | Personnel Moves, March 5, 2019
Cantel Medical taps ex-Cardinal Health vet for CEO Cantel Medical (NYSE:CMD) said today that it named former Cardinal Health (NYSE:CAH) COO George Fotiades to be its new president & CEO, replacing Jorgen Hansen effective immediately. Fotiades will retain his seat on Cantel’s board, the Little Falls, N.J.-based company said. “On behalf of the board, I am very […]
Globus Medical lands Anthem coverage win for Secure-C spinal implant
Globus Medical (NYSE:GMED) last week said it won a coverage decision for its Secure-C cervical spine implant from health insurance giant Anthem (NYSE:ANTM). Audubon, Pa.-based Globus said the decision means the device is covered by the major third-party payers in all 50 states. Anthem has more than 73 million lives under its coverage umbrella, according to Globus. The Secure-C […]
Globus Medical gains on Street-beating prelims | Wall Street Beat
Globus Medical (NYSE:GMED) shares closed up yesterday after the orthopedics company reported preliminary fourth-quarter and 2018 sales numbers that beat the consensus forecast on Wall Street. Audubon, Pa.-based Globus said it expects to post Q4 revenues of $195.5 million and full-year sales of $712.5 million; analysts on The Street were looking for quarterly sales of $188.2 million and […]
Analyst downgrades pressure medtech stocks
Several medical device companies took hits yesterday after analysts on Wall Street downgraded their stocks, on a day when the major market indices each closed up a hair, and even medtech firms that enjoyed upgrades came under pressure. Globus Medical (NYSE:GMED) suffered the most after Morgan Stanley analyst David Lewis cut his rating on the stock from […]
