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 […]
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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 […]
Wright Medical turns a $29 million profit in Q4, sales up 12.7%
Wright Medical (NSDQ:WMGI) today made good on its previously predicted 12.7% increase in fourth-quarter sales, boosted by a 29% jump in U.S. sales of its upper extremity surgical solutions for the shoulder, elbow, wrist and hand. The earnings results, reported after market close, included sales of $217.6 million for the quarter ended Dec. 31. Profits were $29.1 […]
Wright Medical shares rise on Q4, FY2017 prelims
Wright Medical (NSDQ:WMGI) today saw shares rise slightly after it announced preliminary earnings for the fourth quarter and full-year 2017 earnings results that beat The Street. The Amsterdam-based company said it expects to post fourth quarter sales of approximately $217.6 million, which tops analysts expectations of $215.1 million for the quarter. That represents growth of 12.7% […]
Wright Medical acquires surgery planning software dev IMASCAP SAS for $89m
Wright Medical (NSDQ:WMGI) said today it inked a deal to acquire shoulder replacement surgery preoperative planning software dev IMASCAP SAS in a deal worth $88.8 million (EU €75.1 million) Through the deal, Wright picked up 100% of IMASCAP’s outstanding equity on a fully diluted basis for a total of $88.8 million, consisting of $46.9 million (EU €39.7 […]
Wright Medical shares tumble on Q3 sales miss, growing losses
Shares in Wright Medical (NSDQ:WMGI) fell today after the medical device maker missed sales expectations on Wall Street with its 3rd quarter earnings results. The Netherlands-based company posted losses of $131.9 million, or $1.26 per share, on sales of $170.5 million for the 3 months ended September 30, seeing losses grow 19.7% while sales grew a […]
Wright Medical launches long-term study for Infinity total ankle
Wright Medical (NSDQ:WMGI) said today that it launched a long-term study of the Infinity total ankle replacement device it introduced three years ago. The 10-year follow-up study of 200 patients aims to evaluate survivorship and to characterize improvements in patient-reported outcomes, Memphis-based Wright said. At its June 2014 debut, the company touted Infinity as a solution […]
Wright Medical inks $90m settlement deal for metal-on-metal hip claims
Wright Medical (NSDQ:WMGI) said this week it agreed on a comprehensive settlement deal to resolve remaining metal-on-metal hip claims not previously settled, looking to pay a maximum of $89.8 million. A total of $35 million of the settlement will be funded from insurance proceeds, contingent on availability by Dec. 31, the Amsterdam-based company said. Settlement payments […]
Analyst: Hurricanes Harvey, Irma, Maria expected to have impact on med device revenue
The combination of hurricanes Harvey, Irma and Maria are expected to have at least a net 1% impact on US med device revenue for the 3rd quarter, according to a Barclay’s note to investors from analyst Matt Taylor. The disruptions from Maria could extend their impact into the 4th quarter, according to Taylor, who said […]
Wright Medical shares rise on Q2 beat
Shares in Wright Medical (NSDQ:WMGI) rose yesterday after the medical device maker beat expectations on Wall Street with its 2nd quarter earnings results. The Amsterdam-based company posted losses of $41.2 million, or 39¢ per share, on sales of $179.7 million for the 3 months ended June 25, seeing losses shrink 82.1% while sales grew 5.3% compared […]
Smith & Nephew gains as emerging markets boost Q1 results
Smith & Nephew (NYSE:SNN) shares are up today in London and New York after the British medical device giant said emerging markets drove strong 1st-quarter results. Overall sales grew 0.4% to $1.14 billion and 3% on a constant-currency basis for the 3 months ended April 1, the company said. Smith & Nephew no longer reports […]
