Biomet said today that it closed the acquisition of spinal device maker Lanx Inc.
When the deal was announced early last month, Biomet said it would expand its spine offering with Lanx’s Timberline and Aspen spinal fusion systems. The deal was originally expected to close by Nov. 29.
Biomet said it’s agreed to acquire spinal implant maker Lanx Inc. for an undisclosed amount as it revealed a swing to fiscal 1st-quarter black.
The Warsaw, Ind.-based orthopedics giant said the deal will expand its spine offering with Lanx’s Timberline and Aspen spinal fusion systems.
NuVasive Inc. (NSDQ:NUVA) can review documents covering Lanx Inc.‘s contacts with current and former NUVA employees it alleges were poached by Lanx.
NuVasive Inc. (NSDQ:NUVA) opened another front in its ongoing war with rival Lanx Inc., accusing 3 former sales reps of defecting to Lanx and taking trade secrets with them.
Medical device company Lanx Inc. lost a bid to have 1 of at least 2 breach-of-contract lawsuits filed against it by competitor NuVasive (NSDQ:NUVA) thrown out.
Following his abrupt resignation from the corner office at Stryker Corp. (NYSE:SYK), Stephen MacMillan also stepped down from the Texas Instruments board of directors.
MacMillan had been on the board since 2008. No reason was given for his departure in regulatory filings.
Eric Bouvier took over the corner office at BG Medicine (NSDQ:BGMD) yesterday as president & CEO of the Waltham, Mass.-based diagnostics developer.
Prior to joining BG, Bouvier, 51, headed the Immunoassay business at global diagnostics company BioMérieux. He also held the role of president & CEO of BioMérieux’s U.S. subsidiary bioMerieux Inc.
Nevro Corp., an early stage company that makes a spinal cord stimulator for chronic pain, has raised $58 million to continue development of its flagship product and prepare for a possible U.S. launch.
The Menlo Park, Calif.-based company said the funding round was led by Johnson & Johnson Development Corp. (NYSE: JNJ), along with existing investors Aberdare Ventures, Accuitive Medical Ventures, Bay City Capital, Mayo Clinic, MPM Capital and Three Arch Partners.
Michael DeMane quit his new job as chairman and CEO of Lanx Inc.
The former Medtronic Inc. (NYSE:MDT) COO took over the top spot at the privately held Bloomfield, Colo.-based spinal surgery device maker June 21.
The company said he will assist the company as a consultant while co-founder Dr. Jeffrey Thramann will remain chairman of the board.
A Lanx spokesperson said DeMane changed his mind about taking the job, but declined to further elaborate.
By Thomas Lee
Michael DeMane joined Lanx Inc. as chairman and CEO. The former chief operating officer at Medtronic Inc. (NYSE:MDT) was once thought to be a top candidate to lead the firm.
Lanx, based in Broomfield, Colorado, makes devices for spinal surgeries. Investors include Chicago Growth Partners, Goldman Sachs Private Equity Opportunities Fund, Noro-Moseley Partners and Oakwood Medical Investors.
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