After a solid start to July, the medtech industry continues to experience a stock market roller coaster amid the COVID-19 pandemic. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 84.25 points at the end of last week (July 3). That total represents a 2.9% increase from […]
RTI Surgical posts losses ahead of potential OEM business sale
RTI Surgical (NSDQ:RTIX) shares dipped today on first-quarter results that fell short of the consensus forecast. The Deerfield, Ill.-based company posted losses of -$17.9 million, or -24¢ per share, on sales of $73.7 million for the three months ended March 31, 2020, for a 91% bottom-line slide on sales growth of 5.3%. Adjusted to exclude one-time […]
RTI Surgical selling OEM business for $490m
RTI Surgical (NSDQ:RTIX) announced that it entered into a definitive agreement to sell its original equipment manufacturing (OEM) business to Montagu Private Equity in a deal worth $490 million. The deal, which is expected to close in the first half of 2020, includes $480 million in cash from United Kingdom-based Montagu to RTI Surgical, plus certain […]
RTI Surgical shares rise on Q1 earnings beat
Shares in RTI Surgical (NSDQ:RTIX) are rising today after the medical device maker beat expectations on Wall street with its first quarter 2019 earnings release. The Deerfield, Ill.-based company posted losses of approximately $9.1 million, or 14¢ per share, on sales of $69.7 million for the three months ended March 31, seeing losses grow over 800% […]
RTI Surgical closes $300m Paradigm Spine buy
RTI Surgical (NSDQ:RTIX) said last week that it closed the $300 million acquisition of Paradigm Spine and its Coflex lumbar stenosis device. The cash-and-stock deal, originally announced last November, called for RTI to pay $100 million in cash and more than 10.7 million shares of its own stock worth $50 million, with the $150 million balance pegged to […]
RTI Surgical shareholders approve Paradigm Spine buy
RTI Surgical (NSDQ:RTIX) said yesterday that its shareholders approved its approximately $300 million acquisition of Paradigm Spine and its Coflex lumbar stenosis device. Alachua, Fla.-based RTI Surgical said that it expects the acquisition to close today. “We are pleased RTI’s shareholders have given their strong support for our acquisition of Paradigm Spine. With shareholder approval secured, we […]
RTI Surgical ticks up on swing to Q4 black
Shares in RTI Surgical (NSDQ:RTIX) ticked up today on the the medical device company’s report yesterday of a swing to black ink for the fourth quarter. Alachua, Fla.-based RTI posted profits of $2.1 million, or 3¢ per share, on sales of $71.2 million for the three months ended Dec. 31, 2018, compared with losses of […]
RTI Surgical wins coverage nod for Simmetry implant
RTI Surgical (NSDQ:RTIX) said today that non-profit healthcare organization HealthPartners issued a positive coverage decision covering the company’s minimally invasive sacroiliac joint fusion surgery using the Simmetry system, effective November 1. The Simmetry system is a minimally invasive surgical solution using decotrication technology, bone graft and threaded fixation to facilitate bone fusion and provide long-term pain […]
RTI Surgical puts $300m on the table for Paradigm Spine
RTI Surgical (NSDQ:RTIX) agreed to put $300 million on the table for Paradigm Spine and its Coflex lumbar stenosis device. The cash-and-stock deal calls for Alachua, Fla.-based RTI to pay $100 million in cash and more than 10.7 million shares of its own stock worth $50 million, with the $150 million balance pegged to unspecified milestones in […]
RTI Surgical ticks up on Q3 beats
RTI Surgical (NSDQ:RTIX) shares ticked up today after its third-quarter results beat the average forecast on Wall Street. Alachua, Fla.-based RTI Surgical posted profits of $2.9 million, or 4¢ per share, on sales of $69.1 million for the three months ended Sept. 30, for a bottom-line slide of -82.3% on sales growth of 3.6% compared […]
NinePoint Medical lifts Namati to the corner office | Personnel Moves – July 10, 2018
NinePoint Medical said earlier this month that it appointed Eman Namati as its new president and chief executive officer, succeeding Christopher von Jako who will remain on the company’s board of directors. Namati joined NinePoint Medical at its inception in 2010 as a technical co-founder, and operated as R&D VP for the past four years, […]
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