Wright Medical (NSDQ:WMGI) yesterday beat the consensus for both sales and earnings with its third-quarter results and raised its outlook for the rest of 2018. The Memphis-based orthopedics firm slashed its losses by -67.8% to -$42.5 million, or -38¢ per share, on sales growth of 13.8% to $194.1 million for the three months ended Sept. […]
Wright Medical closes $435m Cartiva buy
Wright Medical (NSDQ:WMGI) said today that it closed its $435 million buyout of Cartiva and its synthetic cartilage implant for treating arthritis in the big toe. Alpharetta, Ga.-based Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won CE Mark approval in the European Union back in 2002 and is also on the market in […]
Medtech M&A remains hot: Here’s how
M&A in medtech show no signs of slowing in the fourth quarter of 2018, and companies looking to buy or sell have much to consider, according to patent attorney David Dykeman, a shareholder in the Boston office of the global law firm Greenberg Traurig. The number of medtech M&A deals soared by 50% in 2017 and […]
What you should know about today’s top trends in medtech
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 […]
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