April 7, 2017 | Blake Mossy
IBS Investment Bank entered into an agreement to acquire a minority stake in The Progressive Orthopaedic Company, a manufacturer of implantable medical devices. For its less expensive generic implant portfolio, the company bases its systems off of time-tested designs that have been on the marketplace for decades, and therefore have an abundance of clinical data vetting the technology. The company is intending to launch products for the spine, trauma, biologics and sports medicine segments, and the capital raised from IBS, will help Progressive commercialize these new generic lines.
Amedica delayed its Form 10-K filing and has not yet completed certain financial information necessary for an accurate and full completion of its Annual Report. The company expects to file its Form 10-K with 15 calendar days of the prescribed due date.
PRODUCT INTRODUCTION & UPDATE
Aesculap Implant Systems announced a warranty program on its Plasmapore XP surface enhancing technology portfolio indicated for spinal fusion. The warranty offers participating facilities a device delamination or the generation of impaction debris or a CT or MRI artifact caused by the device that impedes a physician’s ability to visualize adjacent anatomy. The company also launched its TSpaceXP interbody system, which is treated with the PlasmaporeXP surface enhancement.
Alphatec Spine announced that the Company has launched its new Battalion Lateral System with the Alphatec Squadron Lateral Retractor, and successfully completed initial patient surgeries including degenerative, multilevel and L4/L5 spinal segment cases. With the launch of the Battalion Lateral System, the Company is well positioned to begin to compete in the $500M U.S. Lateral market.
CellRight Technologies launched its Matrix OI Cortical Fibers, an in vivo verified osteoinductive matrix, an addition to the company’s portfolio of regenerative human derived osteobiologics, is indicated for the treatment of surgically create or traumatic skeletal defects. The system is comprised of human bone and is available freeze-dried with a shelf life of five years. Once hydrated, the product can be delivered through a syringe and open cannula for minimally invasive procedures.
MicroPort Orthopedics launched its EVOLUTION Revision Tibial System and EVOLUTION BioFoam Tibia indicated for improved satisfaction in total knee replacement patients. The Evolution Revision Tibial System aims to address fixation issues caused by poor bone, while maintains kinematic benefits of its Medial-Pivot design. The Evolution BioFoam Tibia completes the company’s Evolution Medial-Pivot Cementless System.
Medovex entered into a distribution agreement with Technology Consult Berlin (TCB) for its Denervex system throughout Germany. Under the terms of the agreement, TCB will provide sales, marketing and distribution services. The system is designed to provide pain relief associated with the facet joint.
Spineway entered into a distribution agreement with an Australian distributor for the sale of its implants and instruments in Oceania. Under the terms of the agreement, the distributor, based in Sydney, will sell Spineway’s Mont-Blanc, TwinPeaks, Kili, Ayers Rock and Blue Mountain lines, all of which are used for the treatment of severe spinal column disorders.
CyMedica Orthopedics announced the enrollment of the first patient in a clinical trial evaluating the effectiveness of its vive neuro-muscular muscle activation/patient engagement system in post-operative primary total knee arthroplasty rehabilitation and the of care costs. The system aims to address the issues associated with patients’ lack of quadriceps strength after knee surgery.
SI-BONE announced that its iFuse Implant System has been implanted in over 25,000 procedures worldwide since its launch in 2009. The system has established a coverage policy from the Healthcare Service Corporation (HCSC) for Blue Cross Blue Shield participants in Texas, Illinois, Montana, New Mexico and Oklahoma. The company also announced tits 50th peer-reviewed iFuse paper, which is a pooled analysis of 423 patients from three prospective multi-center clinical trials.
Alphatec Spine announced the addition of two new sales executives with proven track records in the spine industry, naming James (Jim) Duffy as Area Vice President, U.S. Sales, South, and Greg Rhinehart as Area Vice President, U.S. Sales, East. Drawing on their deep commercial spine experience, Messrs. Duffy and Rhinehart will be responsible for expanding the Company’s presence in the Southern and Eastern United States, respectively, including continuing to build dedicated sales agent relationships, targeting new customer and market opportunities, and providing service and support for existing surgeon customers.