Orthofix (NSDQ:OFIX) said an audit of its books is prompting it to restate its financial results for 2011, 2012 and Q1 2013 after discovering revenues that were improperly recognized.
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MassDevice.com +3 | The top 3 med-tech stories for August 13, 2012
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
Funding: Mazor Robotics drums up $15M
Mazor Robotics (PINK:MZRTF) wants to get on a major U.S. stock exchange, saying it’s raised $15 million in a private placement to that end.
The Caesarea, Israel-based medical device company said the 2-tranche round is divided among "a group of institutional and accredited investors" led by Oracle Investment Management.
FDA OKs Renaissance robot system for brain surgery
Mazor Robotics (PINK:MZRTF) won FDA clearance extending use of its Renaissance robotic system into brain surgery, the company announced this week.
Mazor’s surgical robot clears regulatory hurdles in Korea | Regulatory Roundup
Bovie swings to 2011 black | Earnings Roundup
Ortho stocks up on strong Q2 prelims for Biomet | Earnings Roundup
Shares of orthopedic device makers are up this morning after bellwether Biomet Inc. reported preliminary sales numbers indicating 3.8% growth for its fiscal second quarter.
Robots in the OR: Mazor Robotics unveils its latest surgical robot | Regulatory Roundup
Mazor Robotics Ltd. (TASE:MZOR) unveiled its new Renaissance device, the next generation of its spinal robotic surgical guidance systems technology, which extend potential applications to more complex spine surgeries.
The new system is built on the core of the previous generation SpineAssist technology, which has been successfully used in more than 2,000 surgeries worldwide, accurately placing more than 12,000 implants, according to company officials.
Diagnostics for All lands $3 million foundation grant | Funding roundup
Diagnostics for All won a $3.0 million grant from the Bill & Melinda Gates Foundation and the United Kingdom’s Dept. for International Development.
The funding, which will be spread over two years, is designated to support the development of three low-cost tests for identifying spoiled milk and infected maize with the goal of boosting productivity on African farms, DFA said