Musculoskeletal News Roundup 28-July-17

July 28, 2017 | Blake Mossy

EARNINGS

CONMED Corporation reported financial results for 2Q:17. Total revenue was $197.2 million in 2Q:17, beating consensus estimates by 1% and representing an increase of 3% compared to $193.4 million in 2Q:16. Adjusted EBITDA was $32.3 million in 2Q:17, decreasing 1% on a reported basis from $34.2 million in 2Q:16. Adjusted EBITDA margin decreased to 16.4% in 2Q:17 from 17.7% in 2Q:16. Gross margin for 2Q:17 decreased to 53.2% from 55.4% in 2Q:16. The company's segments grew by: Orthopedic Surgery +1%, General Surgery +6%, Single-use Products +5% and Capital Products (3%) respectively in 2Q:17. All growth rates are on a constant currency basis, unless stated otherwise.

Smith & Nephew reported financial results for 2Q:17. Total revenue was $1,194 million in 2Q:17, in-line consensus estimates and compared to $1,191 million in 2Q:16. The company's segments grew at: Knee +4%, Hip (1%), Sports Medicine / Joint Repair +5%, Arthroscopic Enabling Technologies (4%), Trauma & Extremities +7% and Other Surgical +11%S respectively in 2Q:17. All growth rates are on a constant currency basis.

Stryker reported financial results for 2Q:17. Total revenue was $3.01 billion in 2Q:17, beating consensus estimates by 1% and representing an increase of 6% compared to $2.84 billion in 2Q:16. Gross margin for 1Q:17 increased to 66.1%, from 64.9% in 2Q:16. The company's segments grew by: Knees +6%, Hips +1%, Trauma & Extremities +8%, Other Orthopedics +32%, Instruments +5%, Endoscopy +14%, Medical +2%, Sustainability +10%, Spine (2%) and Neurotechnology +14% respectively in 2Q:17. International revenues increased by 6% and represented 27% of total revenue in 2Q:17. All growth rates are on a constant currency basis.

Zimmer Biomet reported financial results for 2Q:17. Total revenue was $1.95 billion in 2Q:17, in-line with consensus estimates and representing an increase of 2% compared to $1.93 billion in 2Q:16. Gross margin for 2Q:17 decreased to 72.9%, from 73.6% in 2Q:16. The company's segments grew at: Knees (1%), Hips (0%), Surgical, Sports Medicine, Foot & Ankle, Extremities & Trauma +4%, Dental (6%), Spine & CMF +33% and Other (7%) respectively in 1Q:17. Geographically, the company grew: Americas +3%, EMEA (2%) and Asia-Pacific +7% respectively in 2Q:17. All growth rates are on a constant currency basis.

REGULATORY

Anika Therapeutics received regulatory approval for its MONOVISC single injection viscosupplement in India. The system is designed for the treatment of pain associated with osteoarthritis of synovial joints.

CTL Medical received 510(k) clearance from the FDA for its MATISSE Titanium Anterior Cervical Interbody Fusion cage designed with supplemental fixation. The system is indicated to facilitate intervertebral body fusion in skeletally mature patients with degenerative disc disease (DDD) of the cervical spine

Providence Medical Technology (PMT) received regulatory approval from the Australian Therapeutics Goods Administration for DTRAX implants and instruments, use in tissue-sparing posterior cervical fusion. The TGA approval covers GL-DTRAX Spinal System, GL-DTRAX Cervical Cage-T System, GL-DTRAX Cervical Cage-B, GL-DTRAX Expandable Cage, and GL-DTRAX Bone Screw. The company’s DTRAX line of devices and instruments are deigned to increase procedural efficiency, improve clinical outcomes, minimize complications, and reduce recovery times.

Vertera Spine received 510(k) clearance from the FDA for its COALESCE interbody fusion device for use in anterior, transforaminal, posterior, and lateral lumbar interbody fusion procedures. The porous PEEK-based system behaves mechanically similar to bone under compression, is more durable than metal coatings and aims to eliminate any stress shielding effects and does not produce and imaging artifacts during fusion.

PRODUCT INTRODUCTION & UPDATE

Paragon 28 launched its JAWS Nitinol Staple system, designed for use in osteotomy, arthrodesis and fragment fixation of bone and joint of the foot and fixation of small bone fragments. The system utilizes an elastic nitinol lightweight titanium inserter and an insertion method designed to fully seat and place the staple before it is released.  

WishBone Medical launched its Exact Osteotomy System, designed for precise and repeatable osteotomies for all types of pediatric orthopedic surgery. The initial guides are specifically designed for juvenile bunion surgery and aim to aid in the correction of first metatarsalphalangeal joint deformities.

CLINICAL

4WEB Medical announced the initial surgeries using its Lateral Spine Truss System, a 3-D printed, bi-convex dome indicated to address surgical problems associated with annular implant designs for use in lateral access surgery. The system is designed to optimize load distribution to maximize endplate contact for bone formation and fusion.

DISTRIBUTION

Adhezion Biomedical entered into a distribution agreement with OsteoRemedies for the distribution of its FLORSEAL Microbial Sealant in the United States. FLORASEAL is a patented film-forming, cyanoacrylate-based microbial sealant intended to reduce the risk of skin flora contamination throughout the surgical procedure.  FLORASEAL acts as a physical barrier to microbial penetration as long as the sealant film remains intact.