Medtech’s hottest topics in M&A, intellectual property, finance and regulation will be on the agenda at DeviceTalks Boston Oct. 8-11. Patent attorney David Dykeman from the Boston office of the global law firm Greenberg Traurig will moderate the Oct. 9 hot topics panel in which the discussion will center around: · M&A trends from the perspective of […]
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 […]
Wright Medical shares rise on Q2 earnings Beat
Shares in Wright Medical (NSDQ:WMGI) rose today in pre-market trading after the medical device maker beat expectations on Wall Street with its second quarter results. The Amsterdam-based company posted losses of $67.7 million, or 64¢ per share, on sales of $205.4 million for the three months ended July 1, seeing losses grow 64.5% while sales grew […]
Appeals court backs Wright win in Spineology spat
A federal appeals court last week upheld a win for Wright Medical (NSDQ:WMGI) in a patent infringement spat with Spineology over bone reamers. St. Paul, Minn.-based Spineology sued Wright in early 2015, alleging infringement of several claims in a patent covering an expandable reamer designed to cut chambers within bone larger than the external opening into […]
Wright Medical raises $675m in private placement
Wright Medical (NSDQ:WMGI) said today it inked a deal for $675 million in debt to be offered by a wholly-owned subsidiary. The Amsterdam-based company is offering 1.625% convertible senior notes due 2023 in the offering, which was arranged between Wright, a subsidiary and both investors and institutional buyers, according to an SEC filing. Wright Medical said […]
Wright Medical wins FDA PMA for Augment injectable bone graft
Wright Medical (NSDQ:WMGI) said today it won FDA premarket approval for its Augment injectable bone graft. The bone graft won clearance for the same indications as the Amsterdam-based company’s non-injectable Augment bone graft. The newly cleared Augment Injectable consists of both recombinant human platelet derived growth factor and a blend of Type I collagen and beta tri-calcium […]
Wright Medical’s Q1 bests estimates
Wright Medical (NSDQ:WMGI) yesterday posted first-quarter results that topped the consensus estimate on Wall Street and said it won a nearly $31 million dispute with an insurer over its recalled ProFemur hip implant. Memphis, Tenn.-based Wright slashed its losses by -56.5% to -$25.5 million, or -24¢ per share, on sales growth of 12.0% to $198.5 […]
Wright Medical, plaintiffs extend deadline for $90m metal-on-metal hip settlement
Balky insurance companies delayed a final settlement between Wright Medical (NSDQ:WMGI) and the plaintiffs in product liability lawsuits brought over its metal-on-metal hip implants, according to a regulatory filing. Last October Wright agreed to an $89.8 million deal resolving any metal-on-metal hip claims not covered by a previous, $240 million settlement. But the new agreement was contingent on a $35 […]
Wright launches Invision ankle revision, Prophecy preoperative nav systems in US
Wright Medical (NSDQ:WMGI) last week announced the US launch of its Invision total ankle revision system and Prophecy preoperative navigation planning system. The Memphis, Tenn.-based company touted the Prophecy preoperative navigation system as the first such system with patient specific instrumentation designed for ankle revision arthroplasty procedures. “Revision of a failed total ankle arthroplasty remains a […]
Wright Medical, KFx settle patent spat, ink licensing deal
KFx Medical said today it and Wright Medical (NSDQ:WMGI) agreed to dismiss patent litigation over rotator cuff repair patents between the companies and ink a licensing deal. Through the newly inked deal, Memphis, Tenn.-based Wright Medical and its affiliates will have the right to promote the use of products and techniques for knotless double row rotator cuff […]
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