TransEnterix Announces Common Stock Purchase Agreement by Institutional Investor, Lincoln Park Capital Fund, LLC

Posted On December 20, 2016 By OrthoSpineNews In Financial /

December 20, 2016

RESEARCH TRIANGLE PARK, N.C.–(BUSINESS WIRE)–TransEnterix, Inc. (NYSE MKT:TRXC), a medical device company that is pioneering the use of robotics to improve minimally invasive surgery, announced today that it has entered into a common stock purchase agreement (“Commitment”) with Lincoln Park Capital Fund, LLC (“Lincoln Park”), a Chicago-based institutional investor.

According to the terms and conditions of the Commitment, TransEnterix will have the right, in its sole discretion, to sell to Lincoln Park up to $25.0 million in shares of the Company’s common stock over a 36-month period. Any common stock sold to Lincoln Park will occur at a purchase price based on the Company’s prevailing market prices at the time of each sale to Lincoln Park. TransEnterix will control the timing and amount of any sales to Lincoln Park, and Lincoln Park will be obligated to make purchases in accordance with the stock purchase agreement. Proceeds will be used for general corporate purposes.

“The Company expects this Commitment to provide us with additional balance sheet strength and to help continue funding our Senhance regulatory and commercial efforts,” said Todd M. Pope, President and CEO at TransEnterix.

There are no upper limits on the price Lincoln Park may pay to purchase common stock from TransEnterix. No warrants, derivatives, financial or business covenants, or rights on future financings are associated with the Commitment, and Lincoln Park has agreed not to cause or engage in any direct or indirect short selling or hedging of the Company’s common stock. In consideration for entering into the Commitment, TransEnterix issued shares of common stock to Lincoln Park as a commitment fee and additional shares of common stock will be issued to Lincoln Park pro rata as shares of common stock are sold to Lincoln Park pursuant to the Commitment. The stock purchase agreement may be terminated by TransEnterix at any time, at its sole discretion, without any additional cost or penalty.

A more detailed description of the stock purchase agreement and the Commitment is set forth in the TransEnterix’s Current Report on Form 8-K as filed with the SEC on December 19, 2016, which the company encourages you to read.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in the described offering, nor will there be any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under securities laws of any such jurisdiction.

About TransEnterix, Inc.

TransEnterix is a medical device company that is pioneering the use of robotics to improve minimally invasive surgery by addressing the clinical and economic challenges associated with current laparoscopic and robotic options. The company is focused on the commercialization of the Senhance™ Surgical Robotic System, a multi-port robotic system that brings the advantages of robotic surgery to patients while enabling surgeons with innovative technology such as haptic feedback and eye sensing camera control. The company is also developing the SurgiBot™ System, a single-port, robotically enhanced laparoscopic surgical platform. The Senhance Surgical Robotic System has been granted a CE Mark but is not currently available for sale in the United States. For more information, visit the TransEnterix website at www.transenterix.com.

About Lincoln Park Capital Fund, LLC.

Lincoln Park is an institutional investor headquartered in Chicago, Illinois. Lincoln Park’s experienced professionals manage a portfolio of investments in public and private entities. These investments are in a wide range of companies and industries emphasizing life sciences, specialty financing, energy and technology. Lincoln Park’s investments range from multiyear financial commitments to fund growth to special situation financings to long-term strategic capital offering companies certainty, flexibility and consistency. For more information, visit www.lpcfunds.com.

Forward Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that are often difficult to predict, are beyond our control and which may cause results to differ materially from expectations and include whether the Commitment will provide the company with additional balance sheet strength as anticipated. For a discussion of the risks and uncertainties associated with TransEnterix’s business, including those related to the regulatory approval for and commercialization of our products, please review our filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K filed on March 3, 2016, our most recent periodic report on Form 10-Q, and our other filings we make with the SEC. You are cautioned not to place undue reliance on these forward looking statements, which are based on our expectations as of the date of this press release and speak only as of the origination date of this press release. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

For TransEnterix, Inc.
Investor Contact:
Mark Klausner, +1 443-213-0501
invest@transenterix.com
or
Media Contact:
(For EU) Conrad Harrington, +44 (0)20 3178 8914
or
(For US) Hannah Dunning, +1 415-618-8750
TransEnterix-SVC@sardverb.com

Providence Medical Technology Announces New Equity Financing Of $10.5 Million

Posted On December 20, 2016 By OrthoSpineNews In Financial /

WALNUT CREEK, Calif., Dec. 19, 2016 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing, cervical-fusion technology, today announced the closing of $10.5 million in new equity financing for the company. The proceeds will be used to further commercialize and expand its portfolio of cervical-fusion technology.

Providence’s family of cervical-fusion products now includes DTRAX® Spinal Systems, CAVUX™ Cervical Cages, ALLY™ Screw Systems, and BIOLOGIX™ Allograft Bone. The Company’s cervical-fusion products are provided in sterile packaging for single use and fill critical gaps in the continuum of cervical spine care.

New investor MVM Life Science Partners (“MVM”) led the financing and will join the Providence Board of Directors. Stanmore Medical Investments, Aphelion Capital, and existing private investors also participated in the round.

Dr. Bali Muralidhar, a partner at MVM said, “Providence’s unique product suite addresses key unmet needs in cervical spine fusion surgery. MVM is delighted to support the business through the next phase of growth and to be working with such a high-quality CEO and management team.”

Providence Chief Executive Officer Jeff Smith commented, “I am thrilled MVM is joining our group of supportive investors. MVM’s deep scientific expertise and success globally commercializing medical technologies make them an ideal partner for Providence.”

“We are excited by the continued growth of our business and wide adoption of our innovative, cervical-fusion technology,” said Smith. “With our expanding product offering and growing body of clinical evidence, surgeons are increasingly choosing Providence. We are so pleased that our products are resulting in positive patient outcomes and resonating with spine surgeons and hospital administrators alike.”

About MVM Life Science Partners LLP.

MVM Life Science Partners LLP, founded in 1997, is a leading global healthcare Venture Capital / Private Equity firm based in London and Boston who manages four funds totaling over US$700 million. MVM invests across the Life Sciences market including biopharmaceuticals, diagnostics, drug delivery, gene therapy, medical devices, OTC medicines, research tools and vaccines. The MVM team has broad experience across the Life Science and Venture Capital / Private Equity markets. For more information: www.mvm.com

About Providence Medical Technology, Inc.

Providence Medical Technology, Inc. is a privately-held medical device company developing innovative solutions addressing the $2 billion worldwide cervical spine market. The company is focused on commercializing the DTRAX platform of single-use, tissue-sparing instruments and CAVUX implants for cervical fusion, as well as other technologies that improve cervical spine procedures for both physicians and patients. For more information, visit www.providencemt.com.

SOURCE Providence Medical Technology, Inc.

Stryker Orthopaedics to compensate additional eligible U.S. patients who had surgery to replace their Rejuvenate Modular-Neck and/or ABG II Modular-Neck Hip Stems

Posted On December 20, 2016 By OrthoSpineNews In Financial, Recon /

Kalamazoo, Michigan – December 19, 2016 – Stryker Corporation (NYSE:SYK) announced that Howmedica Osteonics Corp. (referred to as “Stryker Orthopaedics”), a subsidiary of Stryker Corporation, and Court-appointed committees of attorneys representing Rejuvenate Modular-Neck and ABG II Modular-Neck plaintiffs in New Jersey Multicounty and Federal Multidistrict litigations reached an agreement to compensate additional eligible U.S. patients who had surgery to replace their Rejuvenate Modular-Neck hip stem and/or ABG II Modular-Neck hip stem, known as a revision surgery, prior to December 19, 2016. This follows an initial 2014 Settlement Program that covered patients who had a revision surgery prior to November 3, 2014. In that initial program, over 95% of eligible patients enrolled. Under this new agreement, additional patients are now eligible to participate and may apply for compensation.

The Settlement Agreement will help bring to a close significant Rejuvenate Modular-Neck and ABG II Modular-Neck litigation activity in the U.S. However, some lawsuits will remain and Stryker Orthopaedics will continue to defend against remaining claims. For more information about the Settlement Program, please visit strykermodularhipsettlement.com.

Based on the information that has been received to date, no additional charge to earnings is being recorded in connection with entering into the Settlement Agreement. The final outcome of this matter is dependent on many variables that are difficult to predict. The ultimate cost to entirely resolve this matter may be materially different than the amount of the current estimate. It is expected that a majority of the payments under the Settlement Agreement will be made by the end of 2017.

Settlement Program
For eligible U.S. Patients Who Had Surgery to Remove Their Rejuvenate Modular-Neck Hip Stem and/or ABG II Modular-Neck Hip Stem Prior to December 19, 2016.The Settlement Program is available to eligible United States patients who had revision surgery for reasons related to the voluntary recall of the modular-neck hip stems prior to December 19, 2016. Patients eligible for compensation under the Settlement Program should speak with their attorney, if they have one, or contact the Settlement Program claims administrator at www.strykermodularhipsettlement.com or 1-855-382-6404. Patients do not need an attorney to participate in the Settlement Program.

For U.S. Patients Who Have Not Had Surgery to Remove their Rejuvenate Modular-Neck Hip Stem and/or ABG II Modular-Neck Hip Stem Prior to December 19, 2016. The existing Broadspire program offering support for recall-related care continues to be available. Patients are encouraged to visit patients.stryker.com/modularneckstems or call 1-888-317-0200 for more information. Patients do not need an attorney to participate in the Broadspire program.

Stryker is one of the world’s leading medical technology companies and, together with our customers, we are driven to make healthcare better. The Company offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. Stryker is active in over 100 countries around the world. Please contact us for more information at www.stryker.com.

Contacts

For investor inquiries please contact:
Katherine A. Owen, Stryker Corporation, 269-385-2600 orkatherine.owen@stryker.com

For media inquiries please contact:
Yin Becker, Stryker Corporation, 269-385-2600or yin.becker@stryker.com

Investor Contacts

Katherine A. Owen
Vice President, Strategy & Investor Relations
Stryker Corporation
2825 Airview Boulevard
Kalamazoo, MI 49002
269-385-2600

Charles DeCoster IV, MSA
Associate Manager, Investor Relations & Strategy
Stryker Corporation
2825 Airview Boulevard
Kalamazoo, MI 49002
P: 269-385-2600
C: 269-532-2118
Charles.DeCoster@Stryker.com

Zimmer Biomet Announces Quarterly Dividend for Fourth Quarter of 2016

Posted On December 19, 2016 By OrthoSpineNews In Financial /

WARSAW, Ind., Dec. 19, 2016 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global leader in musculoskeletal healthcare, today announced that its Board of Directors has approved the payment of a quarterly cash dividend to stockholders for the fourth quarter of 2016.

The cash dividend of $0.24 per share will be paid on or about January 27, 2017 to stockholders of record as of the close of business on December 30, 2016. Future declarations of dividends are subject to approval of the Board of Directors and may be adjusted as business needs or market conditions change.

About Zimmer Biomet

Founded in 1927 and headquartered in Warsaw, Indiana, Zimmer Biomet is a global leader in musculoskeletal healthcare. We design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; office based technologies; spine, craniomaxillofacial and thoracic products; dental implants; and related surgical products.

We collaborate with healthcare professionals around the globe to advance the pace of innovation. Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues. Together with healthcare professionals, we help millions of people live better lives.

We have operations in more than 25 countries around the world and sell products in more than 100 countries. For more information, visit www.zimmerbiomet.com, or follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

SOURCE Zimmer Biomet Holdings, Inc.

Kuros Acquires Xpand to Form Orthobiologics Firm with Bone Graft Substitute

Posted On December 19, 2016 By OrthoSpineNews In Biologics, Financial /

December 19, 2016

Kuros Biosciences is to acquire Xpand Biotechnology by way of a share-swapping deal structured as an exchange of all Xpand shares for up to 2.105 million new Kuros shares. A total of 1.36 million Kuros shares will be issued immediately upon the deal closing. Another 0.74 million Kuros shares will be issued on the achievement of product approval milestones. Kuros says that if all milestones are achieved its shareholders will own about 71% of the combined company. The transaction has been approved by both firms’ boards of directors.

The combined entity will exploit two complementary technologies—Xpand’s synthetic surface science technology and Kuros’s fibrin/PTH biologics platform. The Netherlands-based Xpand Biotechnology develops products for bone repair and regeneration. A granular formulation of the firm’s bone graft substitute, MagnetOs, was approved in the EU during mid-2016 and is under FDA 510(k) review. A putty formulation of MagnetOs is also being prepared for submission in the EU for orthopedic and dental applications and for submission in the U.S. for spinal fusion applications.

Switerland-based Kuros says the acquisition will also give it an operation in the EU, and certified GMP manufacturing facilities. Kuros’s in-house pipeline is headed by lead product Neuroseal (KUR-023), a synthetic dural sealant for the prevention of cerebrospinal fluid (CSF) leakage following cranial or spinal surgery. KUR-023 is being submitted to the European regulator for CE marking, and market launch is projected for 2017. The Kuros pipeline also includes the fibrin/parathyroid hormone (PTH) bone graft KUR-111 and a fibrin/PTH bone-healing polymer candidate, KUR-113, both of which have completed Phase IIb clinical trials. KUR-113 is also being prepared for Phase II trials in spinal fusion, which are projected to start in 2018.

“Kuros and Xpand’s products are highly complementary,” commented Didier Cowling, CEO of Kuros. “As a result of the acquisition, we will have leading products in key segments of the orthobiologics field and the opportunity to build an integrated business with promising products on the market and in development.” Professor Joost de Bruijn, CEO of Xpand Biotechnology, will be joining the Kuros executive management team. He added, “we are pleased to be joining forces with Kuros. With the unique and complementary synthetic and biologic technology platforms of Kuros and Xpand, we can proceed to build a leading, commercial stage orthobiologics company.”

Kuros Biosciences was formed by the merger of Cytos Biotechnology and Kuros Biosurgery Holdings in January 2016.

Vericel Corporation Prices $17 Million Public Offering of Common Stock

Posted On December 19, 2016 By OrthoSpineNews In Financial /

CAMBRIDGE, Mass., Dec. 16, 2016 (GLOBE NEWSWIRE) — Vericel Corporation (NASDAQ:VCEL), a leading developer of expanded autologous cell therapies for the treatment of patients with serious diseases and conditions, today announced the pricing of its previously announced underwritten public offering of 6,200,000 shares of its common stock, offered at a price to the public of $2.75 per share. The gross proceeds to Vericel from this offering are expected to be approximately $17 million, before deducting the underwriting discount and other estimated offering expenses payable by Vericel. Vericel has granted the underwriter a 30-day option to purchase at the public offering price up to an aggregate of 930,000 additional shares of its common stock to cover over-allotments, if any. The offering is expected to close on or about December 21, 2016, subject to customary closing conditions. Vericel anticipates using the proceeds from the offering to support the commercialization of MACI, expand promotional efforts for Epicel, expand and optimize manufacturing and for other general corporate purposes.

Piper Jaffray & Co. is acting as the sole manager for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the Securities Exchange Commission (SEC) on June 29, 2015 and declared effective by the SEC on July 15, 2015. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement has been filed with the SEC and a final prospectus supplement for the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained by contacting Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, by telephone: (800) 747-3924 or by email: prospectus@pjc.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale is not permitted.

About Vericel Corporation
Vericel develops, manufactures, and markets expanded autologous cell therapies for the treatment of patients with serious diseases and conditions. The company currently markets two cell therapy products in the United States. Carticel^® (autologous cultured chondrocytes) is an autologous chondrocyte implant for the treatment of cartilage defects in the knee in patients who have had an inadequate response to a prior arthroscopic or other surgical repair procedure. Epicel^® (cultured epidermal autografts) is a permanent skin replacement for the treatment of patients with deep dermal or full thickness burns greater than or equal to 30% of total body surface area. Vericel also plans to market MACI^® (autologous cultured chondrocytes on porcine collagen membrane), an autologous cellularized scaffold product indicated for the repair of symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults, which was recently approved by the FDA. Vericel is also developing ixmyelocel‑T, an autologous multicellular therapy intended to treat advanced heart failure due to ischemic dilated cardiomyopathy.

Cautionary Statement on Forward-Looking Statements

This press release contains “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, the proposed public offering of Vericel’s common stock. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual results to differ materially from those projected in its forward-looking statements. Meaningful factors which could cause actual results to differ, including, the satisfaction of customary closing conditions related to the proposed public offering, as well as other factors discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Vericel’s Annual Report on Form 10-K for the year ended December 31, 2015 and Vericel’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2016, which are on file with the SEC and available on the SEC’s website at www.sec.gov. In addition to the risks described above and in Vericel’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC, other unknown or unpredictable factors also could affect Vericel’s results. There can be no assurance that the actual results or developments anticipated by Vericel will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on Vericel. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

CONTACT:
Chad Rubin
The Trout Group crubin@troutgroup.com 
(646) 378-2947
or
Lee Stern
The Trout Group lstern@troutgroup.com
(646) 378-2922

Spinal Intervention: Markets for Surgical, Replacement & Neurostimulation Technologies – Research and Markets

Posted On December 16, 2016 By OrthoSpineNews In Financial, Neuro, Spine /

December 16, 2016

DUBLIN–(BUSINESS WIRE)–Research and Markets has announced the addition of the “Spinal Intervention: Markets for Surgical, Replacement and Neurostimulation Technologies” report to their offering.

The global market for spinal and neurostimulation intervention products is expected to reach $15.8 billion by 2021 from $12.6 billion in 2016, rising at a compound annual growth rate (CAGR) of 4.5% from 2016 through 2021.

The report provides an analysis of the markets for spinal and neurostimulation products, including trends and sales to 2021. It analyzes the market in terms of key product and technology areas, major manufacturers and factors influencing market growth.

Manufacturers of neurostimulation and spinal technologies are discussed and analyzed based on product types, market share and key corporate activities, including a mergers and acquisitions, strategic alliances, and research and development. In addition to neurostimulation products used for the treatment of spinal conditions, the report looks at the wider neurostimulation industry in order to provide a more comprehensive analysis of the overall market and growth opportunities for companies operating in this field.

The report also includes an in-depth analysis of new products and technologies in development, as well as the development of new products that can address a growing number of therapeutic indications.

Companies Mentioned:

Alphatec Holdings
B. Braun/Aesculap
Boston Scientific
CVRX
Depuy Synthes
Globus Medical
K2M
Livanova
Medtronic
Medtronic
Neuropace
NEVRO
Nuvasive
Orthofix International
St. Jude Medical
Stryker
Zimmer Biomet

Key Topics Covered:

1: Introduction

2: Summary – Complimentary

3: Market Overview

4: Current Market Environment

5: Spinal Implant Products And Technologies

6: Neurostimulation Products And Technologies

7: Product And Technology Pipeline

8: Industry Developments

9: Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/mwb9t2/spinal

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Orthopedic Devices, Neurology Devices

BONESUPPORT confirms election of Dr. Håkan Björklund as Chairman of the Board

Posted On December 16, 2016 By OrthoSpineNews In Biologics, Financial /

Lund, Sweden, 16 December 2016 – BONESUPPORT AB, an emerging leader in innovative injectable bioceramic bone scaffolds to treat bone voids caused by trauma, infection, disease or related surgery, announces, that Dr. Håkan Björklund has been confirmed as Chairman and that Ms. Tone Kvåle has been elected as a new Board Member. The appointments were made at an EGM held on 15 December 2016.

Dr. Björklund is Partner of Tellacq AB, a private investment firm. He joined the BONESUPPORT Board in September 2016 in conjunction with the Company’s $37 million (SEK 315 million) financing, which was led by Tellacq. Dr. Björklund has a long and successful track record in the healthcare industry, including as the former CEO of Nycomed, which he grew from a small Scandinavian company into a global business before its acquisition by Takeda in 2011. He is currently chairman of the board of Swedish Orphan Biovitrum AB and an Industry Executive at Avista Capital Partners.

Tone Kvåle joins as a Board Member and Head of the Audit Committee. She is currently Chief Financial Officer of Nordic Nanovector, an Oslo-listed biopharmaceutical company, and has more than 20 years’ biotech industry experience. Prior to joining Nordic Nanovector, she was CFO of NorDiag, Kavli Holding and Dynal Biotech, and has held senior management positions at Invitrogen, Life Technologies and ThermoFisher (US). Ms. Kvåle has a diploma in Finance & Administration from Harstad University College.

Richard Davies, CEO of BONESUPPORT, said: “I am extremely happy that Håkan has been elected Chairman and that Tone will be joining the Board. This is an exciting period for BONESUPPORT following our recent $37 million (SEK 315 million) financing. We are now focused on building further additional shareholder value by growing sales of our current CERAMENT products, generating further data highlighting the clinical and health economic benefits these products deliver and progressing our pipeline. I am confident that Håkan’s and Tone’s experience will be valuable in helping us achieve our strategic goals.”

Dr. Björklund said: “I look forward to working with the management team and the Board to deliver BONESUPPORT’s potential to become a global leader in the management and treatment of bone disease based on the unique properties of its CERAMENT platform.”

Notes to Editor

About BONESUPPORT™

BONESUPPORT has developed CERAMENT as an innovative range of radiopaque injectable osteoconductive bioceramic products that have a proven ability to heal defects by remodeling to host bone in six to twelve months. Our products are effective in treating patients with fractures and bone voids caused by trauma, infection, disease or related surgery. Our lead product, CERAMENT BONE VOID FILLER addresses important issues facing health care providers, such as avoiding hospital readmissions and revision surgery that result from failed bone healing and infection caused by residual bone voids. CERAMENT BVF is commercially available in the U.S., EU, SE Asia and the Middle East.

CERAMENT’s distinctive properties as a drug eluting material have been validated in clinical practice by CERAMENT G and CERAMENT V, the first CE-marked injectable antibiotic eluting bone graft substitutes. These products provide local sustained delivery of gentamicin and vancomycin, respectively. The local delivery feature enables an initial high concentration of antibiotics to the bone defect and then a longer sustainable dose above the minimal inhibitory concentration (MIC) to protect bone healing and promote bone remodeling.

CERAMENT G and V have demonstrated good results in patients with problematic bone infections including osteomyelitis. They are also used prophylactically in patients who are at high risk for developing infection. CERAMENT G and CERAMENT V are available in the EU.

BONESUPPORT was founded in 1999 by Prof. Lars Lidgren, an internationally respected scientist who has been the President of various musculoskeletal societies. BONESUPPORT’s mission is to bring people with bone and joint diseases back to an active life. The Company is based in Lund, Sweden. www.bonesupport.com

BONESUPPORT™ is a registered trademark.

Contact Information

Citigate Dewe Rogerson

David Dible, Andrea Bici, Mark Swallow

+44 (0)20 7282 2949/1050/2948

bonesupport@citigatedr.co.uk

Price Poised To Protect Doctors’ Interests At HHS

Posted On December 14, 2016 By OrthoSpineNews In Financial, Regulatory /

By Christina Jewett and Marisa Taylor – December 12, 2016

In picking Tom Price to be secretary of Health and Human Services, Donald Trump has chosen an orthopedic surgeon who in his congressional career, has loyally promoted the interests of the medical profession — its freedom and importantly, its financial interests.

A conservative representing Georgia’s 6th District, Price sponsored a 2015 bill that would restrict efforts to reduce doctor payments for medical services. He cosponsored another 2011 bill that would have limited reports used by hospitals and regulators to perform background checks used to screen doctors before hiring them.

A fierce critic of Obamacare, Price has tried to block efforts by Medicare to scale back payments for expensive chemotherapy and to limit large payments for hip and knee replacements. He also has taken the lead in trying to impose federal controls on medical malpractice suits.

Most of Price’s proposals stalled in Congress, but he now stands a better chance of implementing his ideas with a powerful cabinet position and a Republican-controlled White House and Congress.

“Instead of having a secretary for the people, you have a secretary for the medical profession,” said Max Mehlman, a law professor at Case Western University, who specializes in medical malpractice and reviewed Price’s proposal.

The American Medical Association, the doctors’ professional group whose members are among Price’s top campaign supporters, says he brings a unique perspective to the job of HHS secretary, a role traditionally filled by foundation executives, career politicians, social scientists, lawyers and public health experts.

The most recent physician to hold the position was Dr. Louis Sullivan who served under George H.W. Bush and was the founding president of Morehouse School of Medicine, as well as an expert on health care in minority populations.

“As a lawmaker, Dr. Price has had the valuable ability to see how legislation and regulation would affect patients and their physicians,” Dr. Patrice Harris, chair of the AMA board of trustees, said in a statement to Kaiser Health News.

READ THE REST HERE

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Arthrex Victorious in Patent Infringement Lawsuit Against Smith & Nephew

Posted On December 14, 2016 By OrthoSpineNews In Financial, Regulatory /

NAPLES, FL – December 12, 2016 – On Friday, December 9, 2016, a jury in the United States Eastern District of Texas upheld the importance of Arthrex Inc.’s innovation, issuing a verdict that Smith & Nephew, Inc. and Arthrocare, Corp. have been willfully infringing two of Arthrex’s patents on their knotless and cross-support technology. Today, a judgment was entered confirming this verdict and granting Arthrex Inc. more than $17 million in damages.

The jury found every variation and size of Smith & Nephew and Arthrocare’s HEALICOIL™ Suture Anchors, TWINFIX™ Ultra Suture Anchors, TWINFIX™ PK FT and SPYROMITE Suture Anchors, Titan Ti Suture Implants, SpeedFix Suture Implants, SPEEDSCREW™ Suture Implants, SPEEDLOCK™ Knotless Implants, SPEEDLOCK™ Hip Knotless Implants, Spartan Suture Anchors, BIORAPTOR Knotless Suture Anchors, FOOTPRINT PK Suture Anchors, FOOTPRINT Ultra, LabraLock™ P Knotless and MULTIFIX™ Knotless, all infringe an Arthrex Patent.

Arthrex will seek an injunction prohibiting Smith & Nephew and ArthroCare from further manufacturing or selling the infringing devices in the United States and will also seek enhanced damages and attorney fees as allowed by statute.

“Since its foundation, Arthrex has been committed to the mission of helping surgeons treat their patients better, and we are very appreciative for the extraordinary efforts of our trial team and the sound judgment of the jurors of East Texas which have helped Arthrex continue this mission and protect its innovative technology,” said John Schmieding, Senior Vice President, General Counsel at Arthrex.

The Arthrex patents involved are U.S. Patent No. 9,179,907, invented by Dr. Stephen S. Burkhart, Peter J. Dreyfuss and Dr. Neal S. ElAttrache and U.S. Patent No. 8,821,541, invented by Peter J. Dreyfuss and William C. Benavitz.

Arthrex, headquartered in Naples, FL, is a global leader in orthopaedic product development and medical education for orthopaedic surgeons. More than 10,000 products for arthroscopic and minimally invasive orthopaedic surgical procedures have been developed by Arthrex and are currently marketed worldwide. For more information, visit www.arthrex.com.

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Financial

Contacts

Contacts

Category: Corporate Press Releases