GlobeNewswire•January 24, 2017

Kalamazoo, Michigan – January 24, 2017 – Stryker Corporation (SYK) reported 2016 operating results for the fourth quarter and full year and 2017 outlook:

Fourth Quarter Highlights
Net sales grew 16.2% to $3.2 billion (16.8% constant currency)

Reported net earnings per diluted share decreased 2.9% to $1.34
Adjusted net earnings per diluted share⁽¹⁾ increased 14.1% to $1.78

Full Year Highlights
Net sales grew 13.9% to $11.3 billion (14.3% constant currency)

Reported net earnings per diluted share increased 15.1% to $4.35
Adjusted net earnings per diluted share⁽¹⁾ increased 13.3% to $5.80

“I am pleased with our performance in both the fourth quarter and the full year 2016,” said Kevin A. Lobo, Chairman and Chief Executive Officer. “Fourth quarter organic sales growth of 6.7% versus a strong prior year is impressive and was balanced across Orthopaedics, MedSurg and Neurotechnology and Spine. In addition, we executed well on acquisitions and delivered leveraged adjusted earnings gains. We enter 2017 with good momentum across our businesses and look forward to building on this success.”

Sales Analysis

Consolidated net sales of $3.2 billion and $11.3 billion increased 16.2% and 13.9% as reported in the quarter and full year and 16.8% and 14.3% in constant currency, as foreign currency exchange rates negatively impacted net sales by 0.6% and 0.4%. Excluding the 10.1% and 7.9% impact of acquisitions, net sales increased 6.7% and 6.4% in constant currency, including 8.2% and 7.8% from increased unit volumes partially offset by 1.5% and 1.4% in lower prices. The acquisitions of Sage Products LLC and Physio-Control International, Inc., contributed $258 million and $740 million to our consolidated net sales in the quarter and full year.

Orthopaedics net sales of $1.2 billion and $4.4 billion increased 5.3% and 4.7% as reported in the quarter and full year and 5.7% and 5.1% in constant currency, as foreign currency exchange rates negatively impacted net sales by 0.4% in both periods. Excluding the 0.4% and 0.3% impact of acquisitions, net sales increased 5.3% and 4.8% in constant currency, including 7.8% and 6.9% from increased unit volumes partially offset by 2.5% and 2.1% in lower prices.

MedSurg net sales of $1.4 billion and $4.9 billion increased 31.1% and 25.6% as reported in the quarter and full year and 32.1% and 26.3% in constant currency in the quarter and full year, as foreign currency exchange rates negatively impacted net sales by 1.0% and 0.7%. Excluding the 23.8% and 19.1% impact of acquisitions, net sales increased 8.3% and 7.2% in constant currency, including 8.9% and 7.8% from increased unit volumes partially offset by 0.6% in lower prices in both periods.

Neurotechnology and Spine net sales of $526 million and $2.0 billion increased 8.7% and 9.9% as reported in the quarter and full year and 8.6% and 9.8% in constant currency, as foreign currency exchange rates positively impacted net sales by 0.1% in both periods.  Excluding the 1.9% and 1.4% impact of acquisitions, net sales increased 6.7% and 8.4% in constant currency, including 8.1% and 9.8% from increased unit volumes partially offset by 1.4% in lower prices in both periods.

Earnings Analysis

Reported net earnings decreased 2.3% in the quarter to $510 million and increased 14.5% to $1.6 billion in the full year. Reported net earnings per diluted share decreased 2.9% in the quarter to $1.34 and increased 15.1% to $4.35 in the full year. Reported net earnings includes charges for the amortization of purchased intangible assets, restructuring-related activities, Rejuvenate and ABG II recall, acquisition and integration related activities and certain tax matters. The effect of each of these matters on reported net earnings and net earnings per diluted share appears in the reconciliation of actual results to adjusted results. Excluding the impact of these charges increases gross profit margin in the quarter from 66.1% to 66.3% and for the full year from 66.2% to 66.6% and increases operating income margin in the quarter from 20.9% to 27.7% and for the full year from 19.1% to 25.5%.

Excluding the impact of the items described above, adjusted net earnings⁽²⁾ of $675 million and $2.2 billion increased 14.2% and 12.6%, in the quarter and full year. Adjusted net earnings per diluted share⁽¹⁾ of $1.78 and $5.80 increased 14.1% and 13.3% in the quarter and full year.

BELGRADE, Mont., Jan. 18, 2017 (GLOBE NEWSWIRE) — Xtant Medical Holdings, Inc. (NYSE MKT:XTNT), a leader in the development, manufacturing and marketing of orthopedic products for domestic and international markets, today has announced the closing of a registered direct offering conducted without an underwriter or placement agent (the “Offering”).  The Offering closed on January 17, 2017 and was with certain holders of its convertible promissory notes (“Indenture Notes”) to purchase a total of 843,289 shares of its common stock.  The common stock was sold at a negotiated price of $0.5692 per share.

All of the proceeds of the Offering were applied to set off interest owed by Xtant under certain of the Indenture Notes to the purchasers of the common stock. The Company was required to make interest payments on January 15, 2017 (which were due on January 17, 2017, the immediately following business day), to the holders of the Indenture Notes, aggregating $2,040,000, of which $480,000 were satisfied by the Offering.  All expenses of the Offering will be paid by the Company from cash on hand.

If you have questions about the Offering, please contact Xtant Investor Relations by calling (877) 889-1972 or writing to investorrelations@cg.capital.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy shares of common stock, nor shall there be any sale of common stock in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Xtant Medical Holdings

Xtant Medical Holdings, Inc. (NYSE MKT:XTNT) develops, manufactures and markets class-leading regenerative medicine products and medical devices for domestic and international markets. Xtant products serve the specialized needs of orthopedic and neurological surgeons, including orthobiologics for the promotion of bone healing, implants and instrumentation for the treatment of spinal disease, tissue grafts for the treatment of orthopedic disorders, and biologics to promote healing following cranial, and foot and ankle surgeries. With core competencies in both biologic and non-biologic surgical technologies, Xtant can leverage its resources to successfully compete in global neurological and orthopedic surgery markets. For further information, please visit www.xtantmedical.com.

Important Cautions Regarding Forward-looking Statements

This press release contains certain disclosures that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to significant risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as “continue,” “efforts,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “projects,” “forecasts,” “strategy,” “will,” “goal,” “target,” “prospects,” “potential,” “optimistic,” “confident,” “likely,” “probable” or similar expressions or the negative thereof.

Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others: our ability to integrate the acquisition of X-spine Systems, Inc. and any other business combinations or acquisitions successfully; our ability to remain listed on the NYSE MKT; our ability to obtain financing on reasonable terms; our ability to increase revenue; our ability to comply with the covenants in our credit facility; our ability to maintain sufficient liquidity to fund our operations; the ability of our sales force to achieve expected results; our ability to remain competitive; government regulations; our ability to innovate and develop new products; our ability to obtain donor cadavers for our products; our ability to engage and retain qualified technical personnel and members of our management team; the availability of our facilities; government and third-party coverage and reimbursement for our products; our ability to obtain regulatory approvals; our ability to successfully integrate recent and future business combinations or acquisitions; our ability to use our net operating loss carry-forwards to offset future taxable income; our ability to deduct all or a portion of the interest payments on the notes for U.S. federal income tax purposes; our ability to service our debt; product liability claims and other litigation to which we may be subjected; product recalls and defects; timing and results of clinical studies; our ability to obtain and protect our intellectual property and proprietary rights; infringement and ownership of intellectual property; our ability to remain accredited with the American Association of Tissue Banks; influence by our management; our ability to pay dividends; our ability to issue preferred stock; and other factors.

Additional risk factors are listed in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q under the heading “Risk Factors.” You should carefully consider the trends, risks and uncertainties described in this document, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could lose all or part of your investment. The Company undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

Investor Contact
CG CAPITAL
Rich Cockrell
877.889.1972
investorrelations@cg.capital

Company Contact
Molly Mason
mmason@xtantmedical.com
Xtant Medical Holdings, Inc.

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FORT WORTH, Texas, Dec. 22, 2016 /PRNewswire/ — Fuse Medical, Inc. (OTC: FZMD) (“Fuse” or the “Company”) announced today that it closed on a capital investment from local healthcare executives Mark W. Brooks and Christopher C. Reeg.  Messrs. Brooks and Reeg bring over 50 years of combined experience in the ancillary healthcare market and have partnered in the formation and operation of multiple high-growth healthcare ventures. Mr. Reeg currently serves as the President and Founder of Maxim Surgical, a manufacturer and distributor of spinal and orthopedic implants. Mr. Brooks currently serves as Chief Executive Officer of CPM Medical Consultants, LLC, a privately-owned national distributor of medical devices and regenerative tissue.

Mr. Brooks acquired 5,000,000 shares of the Company’s common stock for a purchase price of $400,000, and Mr. Reeg acquired 4,000,000 shares of the Company’s common stock for a purchase price of $320,000. The 9,000,000 shares acquired by Messrs. Brooks and Reeg represent in the aggregate approximately 57% of the Company’s outstanding common stock after the closing.

In connection with the closing of the investment, effective December 19, 2016, the Company’s Board of Directors has appointed Mr. Brooks as Chairman of the Board and Mr. Reeg as Chief Executive Officer of the Company. Christopher C. Pratt, D.O. resigned from his position as Chief Executive Officer, and Robert H. Donehew resigned from his positions as Chairman of the Board and Chief Operating Officer.

Also in connection with the closing, Mr. Brooks, Mr. Reeg, Dr. Pratt and Mr. Donehew entered into a Voting Agreement with the Company pursuant which they have agreed to cause the size of the Company’s Board of Directors to be increased to five members and, for a period of six months, to cause three persons designated by Mr. Brooks and Mr. Reeg and two persons designated by Dr. Pratt and Mr. Donehew to be elected as directors of the Company. Mr. Brooks and Mr. Reeg have designated themselves and William E. McLaughlin, III for election, and each of them has been elected as a director effective December 19, 2016, and Dr. Pratt and Mr. Donehew will continue to serve as directors.  Rusty Shelton and Randall Dei have resigned from the Company’s Board of Directors.

Mr. McLaughlin is a Certified Public Accountant licensed in the State of Texas and has over 25 years of experience in accounting and financial reporting positions for private and large public companies traded on the NYSE and NASDAQ, in addition to “Big-Four” public accounting. Mr. McLaughlin currently serves as Chief Financial Officer of CPM Medical Consultants, LLC.  Mr. McLaughlin will not be employed by the Company and satisfies the requirements for independent directors and audit committee financial experts, and he will lead the Company’s efforts to establish an Audit Committee.

Dr. Pratt commented, “We are thrilled Mark and Chris have selected Fuse as their long-term strategic platform. They bring added healthcare and financial expertise to our Board of Directors and management team. This is a relationship that will drive success and longevity for Fuse. The Company’s Board of Directors view their significant investment in Fuse as a vote of confidence in our business and our long-term growth prospects, and we look forward to working together to grow and shape our product distribution portfolio.”

“Although the Fuse Board will miss Rusty Shelton and Randall Dei, they have been an instrumental part of developing the Fuse story and we are grateful for their fine contributions,” Mr. Donehew added.

About Fuse Medical, Inc.
Fuse is a national distributor and provider of surgical implants and regenerative tissue for the orthopedic and spine markets and offers a full-line product portfolio. The Company is committed to delivering the highest quality and most cost efficient products to hospitals, surgical centers, physicians and other medical providers across a broad continuum of care. For more information about Fuse, please visit: www.fusemedical.com.

Forward Looking Statements
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Forward-looking statements are based on current beliefs and expectations and involve certain assumptions or estimates that involve various risks and uncertainties, such as financial market conditions and the other risks discussed in detail in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 and other subsequent filings with the Securities and Exchange Commission. Readers should not place undue reliance on any such forward-looking statements, which are made only as of the date hereof. Fuse has no duty, and assumes no obligation, to update forward-looking statements as a result of new information, future events or changes in the Company’s expectations.

Contact:
Fuse Medical, Inc.
1300 Summit Avenue, Suite 670
Fort Worth, Texas 76102
(817) 439-7025 Office

SOURCE Fuse Medical, Inc.

Related Links

http://www.fusemedical.com

December 23, 2016

PLAINSBORO, N.J., Dec. 22, 2016 (GLOBE NEWSWIRE) — Integra LifeSciences Holdings Corporation (NASDAQ:IART) today announced that its stockholders approved a two-for-one stock split and an increase from 60 million to 240 million authorized shares of the Company’s common stock at a special meeting of stockholders held on Wednesday, December 21, 2016.

Holders of record, as of the close of markets on December 21, 2016, will be entitled to receive one additional share of common stock for each share held.  The shares are expected to be distributed on January 3, 2017.  The adjusted stock price is expected to be reflected on the NASDAQ stock market on January 4, 2017.

About Integra LifeSciences
Integra LifeSciences Holdings Corporation, a world leader in medical technology, is dedicated to limiting uncertainty for clinicians, so they can concentrate on providing the best patient care. Integra offers innovative solutions, including leading plastic and regenerative technologies, in specialty surgical solutions, orthopedics and tissue technologies. For more information, please visit www.integralife.com.

Statements made at the upcoming conferences may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ from predicted results. Forward-looking factors that may be discussed include, but are not limited to, future financial performance, new product development, governmental approvals, market potential and resulting sales as well as potential therapeutic applications, and additional acquisitions. These risks and uncertainties include market conditions and other factors beyond the Company’s control and the economic, competitive, governmental, technological and other factors identified under the heading “Risk Factors” included in item 1A of Integra’s Annual Report on Form 10-K for the year ended December 31, 2015 and information contained in subsequent filings with the Securities and Exchange Commission could affect actual results. These forward-looking statements are made only as the date thereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Integra LifeSciences Holdings Corporation

Investor Relations:

Angela Steinway
(609) 936-2268
angela.steinway@integralife.com   

Michael Beaulieu
(609) 750-2827
michael.beaulieu@integralife.com

By CHRISTINA JEWETT – DEC. 20, 2016

Five years ago, Dr. Ira Kirschenbaum, an orthopedic surgeon in the Bronx who replaces more than 200 knees each year, would have considered it crazy to send a patient home the same day as a knee replacement operation.

And yet there he was this year, as the patient, home after a few hours. A physician friend pierced his skin at 8 a.m. at a Seattle-area surgery center. By lunch, Dr. Kirschenbaum was resting at his friend’s home, with no pain and a new knee.

“I’m amazed at how well I’m doing,” Dr. Kirschenbaum, 59, said recently in a phone interview, nine weeks after the operation.

What felt to Dr. Kirschenbaum like a bold experiment may soon become far more standard. Medicare, which spends several billions of dollars a year on knee replacements for its beneficiaries — generally Americans 65 and older — is contemplating whether it will help pay for knee replacement surgery outside the hospital, in either free-standing surgery centers or outpatient facilities.

The issue is sowing deep discord in the medical world, and the debate is as much about money as medicine. Some physicians are concerned that moving the surgery out of hospitals will land vulnerable patients in the emergency room with uncontrolled pain, blood clots or other complications.

But proponents of the change say it can give patients more choice and potentially better care, as well as save Medicare hundreds of millions of dollars. Already, an “overwhelming majority” of commenters said they want to allow the operations out of hospitals, according to recent rule-making documents.

The final decision, which could come within a year, would also act as a test of sorts for Donald J. Trump and his new administration. They will weigh whether to limit government controls, as Mr. Trump has often suggested, or to bend to pressure from hospitals and doctors, many of whom oppose the change.

“I think the question will come down to two things,” said David Muhlestein, senior director for research at Leavitt Partners, a leading health consulting firm. “It’s the balance of trying to reduce regulations and let the market function — and the competing interest of vested parties.”

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By Tom Haroldson | Special to MLive

PORTAGE, MI – Stryker Corp. plans to build a $130-million corporate campus on nearly 300 acres in Portage, creating an estimated 105 new jobs over three years.

The proposal for Stryker’s medical instruments division involves 485,000 square feet of facilities that will include a customer experience center, functioning showroom, state-of-the-art research and development lab and a bio-skills lab for research and new product development. It will also include ffice space for sales, marketing and support functions.

The new campus will be built on 288 acres of land zoned industrial and bordered by Portage Road, East Milham Avenue and Ramona Avenue that Stryker purchased in October from Pfizer Inc. for $8.5 million, according to city documents.

The land is undeveloped and is near other Stryker facilities on Portage, Sprinkle and Romence roads. The company’s world headquarters is on Airview Road, just up Portage Road from the project property.

The Michigan Economic Development Corp. announced the project Tuesday, Dec. 20 in a press release. The agency’s Michigan Strategic Fund Board approved a $1 million grant for the project. The money will be primarily used to offset recruiting and training costs.

Stryker is expected to ask the city of Portage for a tax break in February and Kalamazoo County for brownfield redevelopment assistance.

City officials, who have known of the project for weeks, are elated.

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