SeaSpine Reports Third Quarter 2018 Financial Results

CARLSBAD, Calif., Nov. 06, 2018 (GLOBE NEWSWIRE) — SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, announced today financial results for the quarter ended September 30, 2018.

Summary Third Quarter 2018 Financial Results and Recent Accomplishments

  • Revenue of $35.8 million, an increase of 13% year-over-year
  • U.S. revenue of $31.7 million, an increase of 12% year-over-year
    — U.S. Spinal Implants revenue of $15.0 million, a 13% increase year-over-year
    — U.S. Orthobiologics revenue of $16.7 million, a 12% increase year-over-year
  • International revenue of $4.1 million, an 18% increase year-over-year
  • Raised $54 million of net proceeds in October from an underwritten public offering of 3.7 million shares of common stock
  • Initial launch of the Regatta™ Lateral System, a comprehensive, minimally invasive lateral interbody fusion system featuring proprietary NanoMetalene technology
  • Transitioned OsteoStrand™ Plus Demineralized Bone Fibers to full commercial launch
  • Launched a line extension of our Daytona® Small Stature Pediatric Deformity System to include additional implant options for a 4.5mm rod system

“We are pleased by our third quarter results, which reflect solid revenue growth across our business,” said Keith Valentine, President and Chief Executive Officer. “With our recently strengthened balance sheet, we now have more than $55 million of cash on hand, no debt, and immediate access to additional cash from our long-term credit facility.  We are continuing to invest in the innovation and commercialization of differentiated technologies and the expansion of our global distribution footprint that has been the catalyst for our revenue growth.  We are confident that we are well positioned to continue our growth trajectory as a market share taker and to deliver cost effective procedural solutions to surgeons and hospitals to improve the quality of patient lives.”

Third Quarter 2018 Financial Results
Total revenue for the third quarter of 2018 was $35.8 million, a 13% increase compared to the same period of the prior year. Total U.S. revenue was $31.7 million, a 12% increase compared to the same period of the prior year.

Spinal Implants revenue totaled $17.3 million, a 12% increase compared to the third quarter of 2017, and was driven by growth in recently launched products, led primarily by the Shoreline and Mariner systems. Orthobiologics revenue totaled $18.5 million, a 13% increase compared to the third quarter of 2017, and was driven by growth in recently launched products, led primarily by the OsteoStrand™ Plus product, and higher sales of legacy demineralized bone matrix products.

Gross margin for the third quarter of 2018 was 60.2%, compared to 61.6% for the same period in 2017. The decrease in gross margin was consistent with management’s expectations and was due to higher spinal implant excess and obsolete inventory charges and orthobiologics manufacturing scrap rates and other inefficiencies associated with the production ramp up of recently launched products, which were partially offset by lower raw material costs for orthobiologics products manufactured at the Company’s Irvine, California facility.

Operating expenses for the third quarter of 2018 totaled $31.0 million, compared to $27.3 million for the same period of the prior year. The $3.7 million increase in operating expenses was driven primarily by higher selling and marketing expenses and from the impact of a $1.2 million non-cash gain recorded in the third quarter of 2017 related to a decrease in the fair value of NLT contingent consideration liabilities.

Net loss for the third quarter of 2018 was $9.5 million, compared to a net loss of $7.5 million for the same period of the prior year.

Cash and cash equivalents at September 30, 2018 totaled $11.8 million. The Company borrowed $3.0 million of cash under its credit facility during the third quarter of 2018 and had $7.3 million of outstanding borrowings under its credit facility as of September 30, 2018.  The Company subsequently used a portion of the proceeds raised in its October underwritten public offering of common stock to repay all of the outstanding debt.

2018 Financial Outlook
SeaSpine continues to expect full-year 2018 revenue to be in the range of $141 to $142 million, reflecting growth of 7% to 8% over full-year 2017 revenue.

Webcast and Conference Call Information
The Company’s management team will host a conference call beginning today at 1:30pm PT/4:30pm ET to discuss the financial results and recent business developments. Individuals interested in listening to the conference call may do so by dialing (877) 418-4766 for domestic callers or (614) 385-1253 for international callers, using Conference ID: 9786589.  To listen to the webcast, please visit the Investors section of the SeaSpine website at: www.seaspine.com.

The call will be archived until Friday, November 30, 2018. The audio archive can be accessed by calling (855) 859-2056 in the U.S. or (404) 537-3406 from outside the U.S. The passcode for the audio replay is 9786589.

About SeaSpine
SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal implants solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal implants portfolio consists of an extensive line of products to facilitate spinal fusion in minimally invasive surgery (MIS), complex spine, deformity and degenerative procedures. Expertise in both orthobiologic sciences and spinal implants product development allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete procedural solution to meet their fusion requirements. SeaSpine currently markets its products in the United States and in over 30 countries worldwide.

Forward-Looking Statements
SeaSpine cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that are based on the Company’s current expectations and assumptions. Such forward-looking statements include, but are not limited to, statements relating to: the Company’s ability to continue to invest in innovation and commercialization of differentiated technologies and the expansion of its global distribution footprint; the Company’s ability to continue its growth trajectory and deliver cost-effective procedural solutions; and the Company’s expectations for full-year 2018 revenue.  Among the factors that could cause or contribute to material differences between the Company’s actual results and the expectations indicated by the forward-looking statements are risks and uncertainties that include, but are not limited to: surgeons’ willingness to continue to use the Company’s existing products and to adopt its newly launched products to support expected levels of demand or pricing; the Company’s ability to continue to invest in medical education and training, product development, and/or sales and marketing initiatives at levels sufficient to drive future revenue growth; the ability of newly launched products to perform as designed and intended and to meet the needs of surgeons and patients, including as a result of the lack of clinical validation of products in limited commercial (or “alpha”) launch; the Company’s ability to attract new, high-quality distributors and potential disruption to the Company’s existing distribution network as new distributors are added; continued pricing pressure, as well as exclusion from major healthcare systems, whether as a result of unwillingness to provide required pricing or otherwise; the risk of supply shortages and the associated, potentially long-term disruption to product sales, including as a result of the Company’s dependence on PcoMed to supply products incorporating NanoMetalene technology and a limited number of third-party suppliers for other components and raw materials, or otherwise; unexpected expense and delay, including as a result of developing and supporting the launch of new products, the fact that newly launched products may require substantial additional development activities, which could introduce further expense and delay, or as a result of obtaining regulatory clearances; general economic and business conditions in the markets in which the Company does business, both in the U.S. and abroad; and other risks and uncertainties more fully described in the Company’s news releases and periodic filings with the Securities and Exchange Commission. The Company’s public filings with the Securities and Exchange Commission are available at www.sec.gov.

You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date when made. SeaSpine does not intend to revise or update any forward-looking statement set forth in this news release to reflect events or circumstances arising after the date hereof, except as may be required by law.

Investor Relations Contact
Lynn Pieper
(415) 937-5402
ir@seaspine.com

SEASPINE HOLDINGS CORPORATION
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2018 2017 2018 2017
Total revenue, net $ 35,834 $ 31,742 $ 105,418 $ 97,832
Cost of goods sold 14,247 12,176 40,986 39,342
Gross profit 21,587 19,566 64,432 58,490
Operating expenses:
Selling, general and administrative 27,041 23,674 76,940 71,893
Research and development 3,203 2,834 8,783 9,228
Intangible amortization 792 792 2,376 2,376
Total operating expenses 31,036 27,300 88,099 83,497
Operating loss (9,449 ) (7,734 ) (23,667 ) (25,007 )
Other (expense) income, net (190 ) 215 (327 ) 387
Loss before income taxes (9,639 ) (7,519 ) (23,994 ) (24,620 )
(Benefit) provision for income taxes (107 ) (57 ) 4 (12 )
Net loss $ (9,532 ) $ (7,462 ) $ (23,998 ) $ (24,608 )
Net loss per share, basic and diluted $ (0.65 ) $ (0.58 ) $ (1.66 ) $ (2.04 )
Weighted average shares used to compute basic and diluted net loss per share 14,750 12,815 14,477 12,079
SEASPINE HOLDINGS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEET DATA
(In thousands)
Sep 30, 2018 December 31,
(unaudited) 2017
Cash and cash equivalents $ 11,782 $ 10,788
Trade accounts receivable, net of allowances of $451 and $466 20,673 21,872
Inventories 42,942 41,721
Short-term debt
Total current liabilities 26,781 23,157
Long-term borrowings under credit facility 7,262
Total stockholders’ equity 94,214 105,653

 

CartiHeal’s Agili-C™ Implant Promotes the Regenerative Capacity of Articular Cartilage Defects in Human Cadaveric Ex-vivo Model

KFAR SABA, IsraelNov. 6, 2018 /PRNewswire/ — CartiHeal, developer of Agili-C™, a proprietary implant for the treatment of joint surface lesions, announced today the publication of a study demonstrating that the Agili-C™ implant promotes the regenerative capacity of articular cartilage defects in human cadaveric ex-vivo model. The study, published in KSSTA Journal – Knee Surgery, Sports Traumatology, Arthroscopy (01 November 2018, PP 1-12), was conducted at Rush University in Chicago by Prof. Susan Chubinskaya.

The goal of the study was to investigate the ex-vivo Mechanism Of Action of the Agili-C™ implant in the repair of full-thickness cartilage defects. In particular, it was intended to validate whether the Agili-C™ implant has the potential to stimulate cartilage in-growth through chondrocyte migration into the 3D interconnected porous structure of the scaffold, along with maintaining their viability and phenotype and the deposition of hyaline cartilage matrix.

In the study, human articular cartilage cadaveric knee and ankle specimens were collected within 24 hours from death from 14 donors, male and female. To model a chondral defect, donut-shaped cartilage explants were prepared from each tissue specimen. Cartilage explants with or without the Agili-C™ implant inside were cultured for 60 days.

The results of the study confirmed the ability of chondrocytes to migrate outside of the cadaveric cartilage explant tissue and into the porous structure of the Agili-C™ scaffold and fill its entire volume with newly formed extracellular matrix (ECM) enriched in hyaline cartilage components, such as collagen type II and aggrecan, and lacking collagen type I.

In addition, the study demonstrated the formation of a layer populated by progenitor-like cells on the articular surface of the implant. These cells were able to produce a thin layer that covered the surface of the newly formed extracellular matrix, similar to a lamina.

In the absence of a scaffold, chondrocytes did not migrate far from the tissue with probably some degree of hypertrophy.

In conclusion, the analysis of samples taken from knee and ankle joints of human donors confirmed that the Agili-C™implant induces  deposition of new extracellular matrix with similar characteristics to the native hyaline cartilage inside the entire volume of the scaffold.

About CartiHeal

CartiHeal, a privately-held medical device company with headquarters in Israel, develops proprietary implants for the treatment of cartilage and osteochondral defects in traumatic and osteoarthritic joints.

In the United States, the Agili-C™ implant is not available for sale – it is an investigational device limited for use in the IDE study.

Contact                
info@cartiheal.com
www.cartiheal.com

SOURCE CartiHeal

Related Links

https://www.cartiheal.com/

Mazor Robotics Reports Third Quarter and Nine Month 2018 Results

CAESAREA, IsraelNov. 6, 2018 /PRNewswire/ — Mazor Robotics Ltd. (TASE: MZOR) (NASDAQGM: MZOR), a pioneer and a leader in the field of robotic guidance systems, reported financial and operating results for the third quarter and nine months ended September 30, 2018.

As announced on September 20, 2018, the Company entered into a definitive merger agreement under which Medtronic will acquire all outstanding ordinary shares of Mazor for $58.50 per American Depositary Share, or $29.25(108.0 ILS. according to current exchange rate) per ordinary share, in cash, for a total of approximately $1.64 billion. The acquisition is expected to close during Medtronic’s third fiscal quarter ending Jan. 25, 2019, subject to the satisfaction of customary closing conditions including receipt of regulatory clearances and approval by Mazor’s shareholders at the Special General Meeting of Shareholders scheduled for November 19, 2018.

In addition, the U.S. Food and Drug Administration (FDA) notified Mazor on November 2 that the Mazor X Stealth Edition system, which integrates Medtronic’s Stealth navigation with the Mazor X robotic guidance platform, received clearance in the U.S.  The integration of two best-in-class technologies will provide spine surgeons with 3D planning tools, robotic-guided execution, and real-time visualization in the operating room.

THIRD QUARTER 2018 FINANCIAL RESULTS ON IFRS BASIS (“GAAP”)

Revenue for the three months ended September 30, 2018 was $10.1 million compared to $18.6 million in the year-ago third quarter.  U.S. revenue was $8.8 million compared to $16.8 million in the year-ago third quarter. This decrease is mainly attributed to the lower number of systems sold in the quarter and the lower pricing terms under the distribution agreement with Medtronic, compared to mostly direct sales in the year-ago third quarter.  International revenue was $1.3 million compared to $1.8 million in the year-ago third quarter. Recurring revenue from kit sales, services and other was $6.9 million in the third quarter of 2018, compared to $7.0 million in the year-ago third quarter.

The Company’s gross margin for the three months ended September 30, 2018 was 47.3% compared to 62.3% in the year-ago third quarter.  This decrease is attributed mainly to the pricing terms with Medtronic, following the transition to the global distribution phase of the Medtronic partnership and a result of less systems sold this quarter. Total operating expenses increased to $22.3 million compared to $15.7 million in the year-ago third quarter, mainly due to $10.8 million of costs related to the merger agreement (of which $7.0 million are non-cash expenses). These costs do not include certain costs related to the merger agreement, including costs which are contingent upon closing. This increase in operating expenses is offset by lower selling and marketing expenses, following the transition to the global distribution phase of the Medtronic partnership. Operating loss was $17.5 million compared to an operating loss of $4.1 million the year-ago third quarter. Net loss for the third quarter of 2018 was $16.9 million, or $0.32 per share, compared to a net loss of $3.9 million, or $0.08 per share, for the year-ago third quarter.

Cash used in operating activities was $2.5 million compared to cash used in operating activities of $2.9 million in the year-ago third quarter. As of September 30, 2018, cash, cash equivalents and investments totaled $107.6 million.

THIRD QUARTER 2018 FINANCIAL RESULTS ON NON-GAAP BASIS

The tables below include reconciliation of the Company’s GAAP results to non-GAAP results. The reconciliation relates to non-cash expenses in the amount of $12.6 million with respect to amortization of intangible assets, to share-based payments and to costs related to the merger agreement recorded in the third quarter of 2018. On a non-GAAP basis, the net loss in the third quarter of 2018 was $4.4 million, or $0.08 per share, compared to $1.3 million, or $0.03 per share, for the year-ago third quarter.

NINE MONTHS ENDED SEPTEMBER 30, 2018 FINANCIAL RESULTS ON IFRS BASIS (“GAAP”)

For the nine months ended September 30, 2018, revenue totaled $38.8 million compared to $45.8 million for the nine months ended September 30, 2017. Gross margin for the nine months ended September 30, 2018 was 54.7% compared with 65.3% in the nine months ended September 30, 2017. This decrease is attributed mainly to the pricing terms with Medtronic following the transition to the global distribution phase of the Medtronic partnership. Total operating expenses were $44.1 million compared to $43.6 million in the year-ago nine-month period, mainly due to lower selling and marketing expenses, following the transition to the global distribution phase of the Medtronic partnership and offset by costs related to the merger agreement.  Operating loss was $22.8 million compared to an operating loss of $13.7 million in the first nine months of 2017.

Net loss for the nine months ended September 30, 2018 was $22.1 million, or $0.42 per share compared to a net loss of $12.9 million, or $0.27 per share, in the first nine months of 2017.

NINE MONTHS ENDED SEPTEMBER 30, 2018 FINANCIAL RESULTS ON NON-GAAP BASIS

On a non-GAAP basis, the net loss for the first nine months of 2018 was $5.4 million, or $0.10 per share, compared to a net loss of $7.6 million, or $0.16 per share, in the first nine months of 2017.

Use of Non-GAAP Measures

In addition to disclosing financial results calculated in accordance with generally accepted accounting principles in conformity with International Financial Reporting Standards (GAAP), this press release contains Non-GAAP financial measures for gross profit, operating expenses, operating profit (loss), net income (loss) and basic and diluted earnings (loss) per share that exclude the effects of non-cash expense of amortization of intangible assets and share-based payments and costs related to the merger agreement. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s performance that enhances management’s and investors’ ability to evaluate the Company’s net income (loss) and earnings (loss) per share and to compare them to historical net income (loss) and earnings (loss) per share.

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when operating and evaluating the Company’s business internally and therefore decided to make these non-GAAP adjustments available to investors.

About Mazor

Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary technologies and products aimed at redefining the gold standard of quality care. Mazor Robotics Guidance System enables surgeons to conduct spine and brain procedures in an accurate and secure manner. For more information, please visit www.MazorRobotics.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any statements in this release about future expectations, plans or prospects for the Company, including without limitation, statements regarding the closing of the Medtronic acquisition of Mazor, statements regarding the benefits of the Mazor X–Stealth Edition system, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions are forward-looking statements. These statements are only predictions based on Mazor’s current expectations and projections about future events. There are important factors that could cause Mazor’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, and other factors indicated in Mazor’s filings with the Securities and Exchange Commission (SEC) including those discussed under the heading “Risk Factors” in Mazor’s annual report on Form 20-F filed with the SEC on April 30, 2018 and in subsequent filings with the SEC. For more details, refer to Mazor’s SEC filings. Mazor undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

Mazor Robotics Ltd.

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

(U.S. Dollars in thousands, except per share data)

(UNAUDITED)

Nine months period

Three months period

ended September 30,

ended September 30,

2018

2017

2018

2017

Revenue

$

38,835

$

45,798

$

10,090

$

18,624

Cost of revenue

$

17,587

$

15,895

$

5,315

$

7,020

Gross profit

$

21,248

$

29,903

$

4,775

$

11,604

Operating expenses:

Research and development, 
net

$

8,695

$

5,692

$

3,626

$

1,658

Selling and marketing

$

17,944

$

32,638

$

5,656

$

12,429

General and administrative

$

6,618

$

5,310

$

2,176

$

1,653

Other operating expenses (*)

$

10,800

$

$

10,800

$

Total operating cost and 
expenses

$

44,057

$

43,640

$

22,258

$

15,740

Loss from operations

$

(22,809)

$

(13,737)

$

(17,483)

$

(4,136)

Financing income, net

$

750

$

631

$

541

$

188

Loss before taxes on 
income

$

(22,059)

$

(13,106)

$

(16,942)

$

(3,948)

Income tax expense 
(benefit)

$

2

$

(250)

$

1

$

Net loss

$

(22,061)

$

(12,856)

$

(16,943)

$

(3,948)

Net loss per share – Basic 
and diluted

$

(0.42)

$

(0.27)

$

(0.32)

$

(0.08)

Weighted average common 
shares outstanding – Basic 
and diluted

52,673

48,334

52,938

49,011

(*) Merger agreement related expenses  

Mazor RoboticsLtd.

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AS OF

(U.S. Dollars in thousands)

September 30,

December 31,

2018

2017

(Unaudited)

(Audited)

Current assets

Cash and cash equivalents

$

36,532

$

46,376

Short-term investments

70,074

56,708

Trade receivables

9,479

5,460

Other current assets

3,930

2,054

Inventory

7,259

7,864

Total current assets

127,274

118,462

Non-current assets

Long-term investments

968

5,171

Property and equipment, net

4,597

4,323

Intangible assets, net

1,676

1,925

Other non-current assets

852

1,115

Total non-current assets

8,093

12,534

Total assets

$

135,367

$

130,996

Current liabilities

Trade payables

$

4,116

$

3,474

Deferred revenue

8,195

3,471

Other current liabilities

10,882

9,874

Total current liabilities

23,193

16,819

Non-current liabilities

Employee benefits

433

414

Total non-current liabilities

433

414

Total liabilities

23,626

17,233

 Equity

Share capital

139

136

Share premium

235,939

225,678

Amounts allocated to warrants

9,629

9,629

Capital reserve for share-based 
payments transactions

20,255

10,480

Foreign currency translation reserve

2,119

2,119

Accumulated loss

(156,340)

(134,279)

Total equity

111,741

113,763

Total liabilities and equity

$

135,367

$

130,996

 

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Medicrea to Attend the 9th Annual Craig-Hallum Alpha Select Conference

November 05, 2018

LYON & NEW YORK–(BUSINESS WIRE)–The Medicrea Group (Euronext Growth Paris: FR0004178572-ALMED ; OTCQX Best Market – MRNTY & MRNTF), pioneering the transformation of spinal surgery through Artificial Intelligence, predictive modeling and patient specific implants with its UNiD™ ASI (Adaptive Spine Intelligence) proprietary software platform, services and technologies, announced today that the company will host one-on-one investor meetings during the 9th Annual Craig-Hallum Alpha Select Conference at the Sheraton New York Times Square Hotel on Thursday, November 15, 2018.

For more information on the conference or to schedule a one-on-one meeting, please contact your Craig-Hallum representative.

About Medicrea (www.medicrea.com)

Through the lens of predictive medicine, Medicrea leverages its proprietary software analysis tools with big data and machine learning technologies supported by an expansive collection of clinical and scientific data. The Company is well-placed to streamline the efficiency of spinal care, reduce procedural complications and limit time spent in the operating room.

Operating in a $10 billion marketplace, Medicrea is a Small and Medium sized Enterprise (SME) with 200 employees worldwide, which includes 50 who are based in the U.S. The Company has an ultra-modern manufacturing facility in Lyon, France housing the development and production of 3D- printed titanium patient-specific implants.

For further information, please visit: Medicrea.com.

Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572
Ticker: ALMED
LEI: 969500BR1CPTYMTJBA37

Medicrea is traded on
OTCQX Best Market
Tickers: MRNTY & MRNTF

Contacts

Medicrea
Denys SOURNAC
Founder, Chairman and CEO
dsournac@medicrea.com
Fabrice KILFIGER
Chief Financial Officer
fkilfiger@medicrea.com
Tel: +33 (0)4 72 01 87 87

MiMedx To Present Clinical And Scientific Studies At Desert Foot Conference

MARIETTA, Ga.Nov. 6, 2018 /PRNewswire/ — MiMedx Group, Inc. (NASDAQ: MDXG), a leading developer and marketer of regenerative and therapeutic biologics, today announced that five poster abstracts reporting on the Company’s EpiFix® dehydrated Human Amnion/Chorion Membrane (dHACM) allograft and EpiCord® dehydrated human umbilical cord (dHUC) allograft will be presented at the Desert Foot 15th Annual Multi-Disciplinary Limb Salvage Conference in Phoenix, Arizona. The conference begins Wednesday, November 7, 2018, and concludes on Saturday, November 10, 2018.

MiMedx will sponsor a symposium entitled, “Clinical Efficacy of EpiFix and AmnioFix dehydrated human amnion/chorion membrane allografts in Surgical and Wound Care Applications” on Wednesday, November 7th in the Phoenix Ballroom main lecture hall. The symposium faculty and presenters include Ray Ortega, MD, MiMedx Medical Director, and Jeremy Lim, PhD, Senior R&D Engineer at MiMedx.

Dr. Ortega, a former Army Special Forces Officer (Green Beret) and Medical Corps plastic surgeon, will review two recent EpiFix and EpiCord multicenter DFU randomized control trial (RCTs) studies.  The first is entitled: “A Confirmatory Study on the Efficacy of Dehydrated Human Amnion/Chorion Membrane (EpiFix®) Allograft in the Management of Diabetic Foot Ulcers: A Prospective, Multicenter, Randomized, Controlled Study of 110 Patients from 14 Wound Clinics.” The second is: “A multicentre prospective randomised controlled comparative parallel study of dehydrated human umbilical cord (EpiCord) allograft for the treatment of diabetic foot ulcers.”

Dr. Lim will provide an overview of the MiMedx research study published in the Journal of Biomedical Materials Research that evaluated dHUC and its biological properties. It was the first published characterization of dHUC tissue.

During a sponsored hands-on workshop on November 8David Kyle, DPM, will present “Application Techniques and Therapeutic Approaches Using EpiFix, EpiCord & AmnioFix Allografts for Wound Healing and Surgical Procedures”. MiMedx will also sponsor a workshop during the Amputation/ Limb Salvage Continuum of Care Skills course on November 10.

The five poster abstracts will report on MiMedx EpiFix and EpiCord allografts, as follows:

  1. William Tettelbach, MD; Shawn Cazzell, DPM; Alexander M. Reyzelman, DPM; Felix Sigal, DPM; Joseph M. Caporusso, DPM; Patrick S. Agnew, DPM: A Prospective, Multicenter, Randomized, Controlled Study Confirming the Efficacy of Dehydrated Human Amnion/Chorion Membrane Allograft in the Management of Diabetic Foot Ulcers
  2. William Tettelbach, MD; Shawn Cazzell, DPM; Felix Sigal, DPM; Joseph M. Caporusso, DPM; Patrick S. Agnew, DPM; Jason Hanft, DPM; Cyaandi Dove, DPM: A Multicenter Prospective Randomized Controlled Comparative Parallel Study of Dehydrated Human Umbilical Cord Allograft for the Treatment of Diabetic Foot Ulcers  
  3. Brandon Brooks, DPM PGY-3; Kevin Pham, DPM PGY-4; Bradley Brooks, DO PGY-2; Brady Brooks, MSII; James Henry, MSII; Charles Kean, DPM; Terria Madison, DPM: Intraoperative Use of Umbilical Cord Allograft in Achilles Tendon Surgery for Postoperative Pain Reduction in Diabetics: A Case Series
  4. Brandon Brooks, DPM PGY-3; Bradley Brooks, DO PGY-2; Brady Brooks, MSII; Richa Patel, DPM PGY-2; Anubha Oberoi, DPM PGY-1; Charles Kean, DPM: Concurrent Use of Cyclical Pressure Topical Wound Oxygen Therapy & Umbilical Cord Allograft in a Diabetic with a Pressure Ulceration of the Right Posterior Leg with Exposed Achilles Tendon: A Case Study
  5. Jeremy J. Lim, PhD; Jennifer Lei, PhD;  Jenn D. BullardAnna M. Fallon, PhD; Michelle MasseeThomas J. Koob, PhD: Evaluation of Dehydrated Human Umbilical Cord Biological Properties for Wound Care and Soft Tissue Healing

About MiMedx

MiMedx® is a leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. The Company processes the human placental tissue utilizing its proprietary PURION® process methodology, among other processes, to produce allografts by employing aseptic processing techniques in addition to terminal sterilization. MiMedx has supplied over 1.3 million allografts to date. For additional information, please visit www.mimedx.com.

SOURCE MiMedx Group, Inc.

Related Links

http://www.mimedx.com

Rapid Company Growth Prompts joimax® Inc. to Move Its US Headquarters to a New, Larger State-of-the-Art Facility

November 05, 2018

IRVINE, Calif.–(BUSINESS WIRE)–joimax®, the Germany-based market leader of technologies and training methods for full-endoscopic minimally invasive spinal surgery, announces the move of its US headquarters to a new 26,000-square-foot facility in Irvine, California, beginning November 5, 2018.

“With the move to the new building, the steadily growing need for endoscopic procedures among patients and physician communities can now be efficiently met,” states Wolfgang Ries, Founder and CEO of the joimax® Group. “Growth requires space — the continued demand in the US market creates a major opportunity which joimax® Inc. is addressing with the expansion of its US organization.”

The new office is located at 140 Technology Drive, Suite 150 in the city of Irvine and includes a brand new training and education center. The center offers a demonstration and wet lab training room displaying all joimax® systems and products, as well as a big audience room for didactics presentations. The first workshop will be held at the center November 30 – December 1, 2018.

In addition, the new facility will handle all corporate and business functions. Over the next year, joimax® Inc. will add more clinical support, marketing, and sales personnel in order to face the fast growing demand for endoscopic spine procedures.

About joimax®

Founded in Karlsruhe, Germany, in 2001, joimax® is the leading developer and marketer of complete systems for full-endoscopic and minimally invasive spinal surgery. With the Endoscopic Surgical Systems TESSYS®(transforaminal), iLESSYS® (interlaminar) and CESSYS® (cervical) for decompression procedures, MultiZYTE®for facet and sacroiliac joint pain treatment and EndoLIF® and Percusys® for minimally invasive endoscopically assisted stabilizations, established systems are provided, addressing a whole range of indications.

In procedures for herniated disc, stenosis, pain therapy or spinal stabilization treatment, surgeons utilize joimax®technologies to operate through small incisions under local or full anesthesia, via tissue and muscle-sparing corridors and through natural openings in the spinal canal, e.g. the intervertebral foramen, the so called “Kambin triangle.”

Contacts

Press Contact Germany:
joimax® GmbH
Sabine Jarosch
sabine.jarosch@joimax.com
0049 721 25514 0
or
Press Contact USA :
joimax® Inc.
Melissa Brumley
melissa.brumley@joimaxusa.com
001 949 859 3472

(Photo: Business Wire)

EOS imaging Leadership Transition to Strengthen U.S. Strategy

November 05, 2018

PARIS–(BUSINESS WIRE)–Regulatory News:

EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible PEA – PME), the pioneer of orthopedic medical imaging 2D / 3D, announces the change of its leadership effective January 1, 2019.

The Board of Directors, in agreement with Marie Meynadier, Chief Executive Officer of EOS imaging, has decided to change the leadership of the company to strengthen the company’s presence in the United States, its largest market, and expand its shareholder base.

The Board has unanimously appointed Mike Lobinsky, who joined the company in August 2017 as President North America, to the position of Chief Executive Officer effective January 1, 2019. Marie Meynadier will continue as Chief Executive Officer of EOS Imaging until December 31, 2018 and thereafter retains a position on the Board of Directors. Also being considered is Mike Lobinsky’s nomination to Director of EOS imaging at a subsequent Shareholder General Meeting.

Mike Lobinsky has over twenty years’ experience in the medtech industry with senior management roles in sales, marketing, operations and business development in the fields of Orthopedic Robotics, Navigation, Imaging and Implants. He has held leadership positions at Smith and Nephew, Brainlab, Blue Belt Technologies, Stryker and most recently contributed to the acquisition of Blue Belt by S&N prior to joining EOS in 2018.

Marie Meynadier, Chief Executive Officer of EOS Imaging, said, “I have enjoyed working with Mike for over a year. His leadership and knowledge of the industry, combined with his fine understanding of corporate culture, are excellent assets for EOS imaging and I have complete confidence in his ability to continue and accelerate the development of the company. Our North American market is considerable, and Mike will be able to develop it without denying our European roots, relying on the talented management team present in Paris, particularly Eric Maulavé, Chief Operating Officer, to continue to drive global growth. It was an honor and a great pleasure to serve the company and to develop it since its foundation. I am most grateful to the men and women within our staff, to our Directors, shareholders and clinical partners, who contributed to this development over these last years. Our teams can be proud of the work accomplished, and I have full confidence that they will continue to build our success under Mike’s leadership.

Gérard Hascoet, Chairman of the Board of Directors of EOS Imaging, commented: “Marie’s vision, her energy and her remarkable managerial talent have brought EOS imaging to a stage of excellence and a unique international reputation. Marie has given the company access today to an acceleration opportunity in the United States, which is a new step. She has managed to attract a management team capable of taking up this new challenge and ensure a successful succession. It is rare to be able to apprehend the future in such optimism.

Mike Lobinsky, President North America, EOS Imaging, added: “I am very grateful to Marie and the Board members for their trust and pleased to accept the CEO position. Few companies have accomplished what EOS has and these achievements have established a strong foundation for further development. The potential of our entire solution is outstanding, and I am confident in our ability to translate this into growth and value in the short, medium, and long terms.”

Valérie Worrall also joins the company as Chief Financial Officer. Valérie Worrall has more than twenty years of experience in leadership finance roles and as the CFO within business units in the healthcare industry. She has held positions in South East Asia, the United States, Switzerland, the UK, and France. She most recently was CFO of Balt, a medical device company.

ABOUT EOS IMAGING

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI

EOS imaging designs, develops and markets EOS®, a major innovative medical imaging solution dedicated to osteoarticular pathologies and orthopedics combining equipment and services and targeting a $2B per year market opportunity. EOS imaging is currently present in 33 countries, including the United States under FDA agreement, Japan, China and the European Union under CE labelling, through the over 280 installed EOS® platforms representing more than one million patient exams every year. Revenues were €37.1M in 2017, e.g. a +32% CAGR over 2012-2017.

For more information, please visit www.eos-imaging.com.

EOS imaging has been selected to integrate the EnterNext © PEA – PME 150 index, composed of 150 French, listed companies on the Euronext markets in Paris.

Contacts

EOS imaging
Valérie Worrall, +33 (0)1 55 25 60 60
CFO
investors@eos-imaging.com
or
Investor Relations (US)
The Ruth Group
Matt Picciano / Emma Poalillo, 646-536-7008 / 7024
EOS-imagingIR@theruthgroup.com
or
Press Relations (US)
The Ruth Group
Kirsten Thomas, 508-280-6592
kthomas@theruthgroup.com

Shoulder Innovations Announces FDA 510(k) Clearance For Shoulder Technology

Conformis Reports Third Quarter 2018 Financial Results and Updates Fiscal Year 2018 Guidance

BILLERICA, Mass., Oct. 31, 2018 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS), a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell patient specific joint replacement implants designed to fit each patient’s unique anatomy, announced today financial results for the third quarter ended September 30, 2018.

Q3 Summary

  • Total revenue of $29.0 million, up 57% year-over-year on a reported and constant currency basis, including a royalty settlement of $10.5 million
  • Product revenue of $18.3 million, up 1% year-over-year on a reported and constant currency basis
    • U.S. product revenue of $16.3 million, up 5% year-over-year
    • Rest of World product revenue of $2.1 million, down 22% year-over-year on a reported basis and 23% year-over-year on a constant currency basis
  • Royalty revenue of $10.7 million, including the royalty settlement of $10.5 million
  • Gross margin of 68%, an increase of 2,800 basis points year-over-year, or 50%, an increase of 1,000 basis points year-over-year excluding the $10.5 million royalty settlement

“Our US growth of 5% represents a meaningful step-up in performance year-over-year. However, US sales in the fourth quarter are anticipated to be lower than previously expected, and we are taking steps to improve performance in 2019. We continue to face headwinds in our OUS business due to reimbursement challenges,” said Mark Augusti, President and Chief Executive Officer of Conformis, Inc. “Our continued gross margin expansion gives us increasing confidence that the margin improvements we have shown in previous quarters should be sustainable and we are continuing to focus on achieving operational efficiency.”

Three months ended September 30, Increase/(decrease)
($, in thousands) 2018 2017  $ Change % Change % Change
(as reported) (constant currency)
United States $ 16,271 $ 15,519 $ 752 5 % 5 %
Rest of world 2,061 2,657 (596 ) (22 )% (23 )%
Product revenue 18,332 18,176 156 1 % 1 %
Royalty revenue 10,652 249 10,403 4,178 % 4,178 %
Total revenue $ 28,984 $ 18,425 $ 10,559 57 % 57 %

Third Quarter 2018 Financial Results

Total revenue for the three-month period ended September 30, 2018 increased $10.6 million to $29.0 million, or 57% year-over-year on a reported and constant currency basis. Total revenue in the third quarter of 2018 and 2017 includes royalty revenue of $10.7 million and $0.2 million, respectively, related to patent license agreements.  The increase in royalty revenue in the third quarter of 2018 compared to the same quarter in the prior year is primarily due to the royalty settlement of $10.5 million due from Smith & Nephew.

Product revenue increased $0.2 million to $18.3 million, or 1% year-over-year on a reported and constant currency basis. U.S. product revenue increased $0.8 million to $16.3 million, or 5% year-over-year, and Rest of World product revenue decreased $0.6 million to $2.1 million, or 22% year-over-year on a reported basis and 23% on a constant currency basis.  Product revenue from sales of iTotal PS increased $0.8 million to $6.1 million or 15% year-over-year on a reported and constant currency basis.  Product revenue from sales of iTotal CR, iDuo and iUni decreased $0.9 million to $12.0 million, or 7% year-over-year on a reported and constant currency basis.  The decrease in product revenue was primarily in attributable to reimbursement challenges in Germany. Conformis hip system sales in the third quarter of 2018 was $0.2 million in the U.S.

Total gross profit increased $12.4 million to $19.7 million, or 68% of revenue, in the third quarter of 2018, compared to $7.3 million, or 40% of revenue, in the third quarter of 2017. This 2,800 basis point increase in gross margin year-over-year was driven primarily by the $10.5 million royalty settlement, which contributed 1,800 basis points of the increase, and by cost reductions as a result of vertical integration and manufacturing efficiencies.

Total operating expenses increased $6.0 million to $26.2 million, or 30% year-over-year. This increase in expenses was driven primarily by an increase in general and administrative expense due to the non-cash write-off of $1.9 million of unused manufacturing equipment and a non-cash write-off of $6.7 million related to impairment of goodwill due to the Company’s market capitalization and cash flow position. These expenses were partially offset by $2.8 million of reductions in patent litigation expense, business insurance expense, personnel costs and other administrative expenses.

Net loss was $7.4 million, or $0.12 per basic share, in the third quarter of 2018, compared to a net loss of $12.5 million, or $0.29 per basic share, for the same period last year. Net loss in the third quarter of 2018 included foreign currency exchange expense of $272,000 compared to foreign currency exchange income of $1.1 million in the same period last year.  Net loss per basic share calculations assume weighted average basic shares outstanding of 60.2 million for the third quarter of 2018, compared to 43.5 million for the same period last year.

As of September 30, 2018, cash and cash equivalents and investments totaled $36.9 million, which does not include the $10.5 million royalty settlement payment received in October, compared to $45.2 million as of December 31, 2017.

2018 Financial Guidance

For the full year 2018, the Company expects total revenue in a range of $88.6 million to $89.1 million. Excluding the $10.5 million royalty settlement, the Company expects total revenue in a range of $78.1 million to $78.6 million. This is updated from previous guidance in a range of $79.6 million to $83.6 million.  The Company’s 2018 revenue guidance assumes the following:

  • Product revenue in a range of $77.5 million to $78.0 million, representing year-over-year increase of 1% on a reported basis and flat on a constant currency basis.  This is updated from previous guidance in a range of $79.0 million to $83.0 million, representing year-over-year growth of 2% to 8% on a reported basis and 2% to 7% on a constant currency basis.
  • Royalty revenue of approximately $11.1 million, including the $10.5 million royalty settlement. This is updated from previous guidance of approximately $0.6 million related to ongoing patent license royalty payments.
  • Excluding the $10.5 million royalty settlement, we believe we will finish the year ahead of our total gross margin guidance of 44 to 46% and well ahead of our 2017 gross margin of 37%.

Note on Non-GAAP Financial Measures

In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), the Company provides certain information regarding the Company’s financial results or projected financial results on a non-GAAP “constant currency basis.” This information estimates the impact of changes in foreign currency rates on the translation of the Company’s current or projected future period financial results as compared to the applicable comparable period. This impact is derived by taking the adjusted current or projected local currency results and translating them into U.S. dollars based upon the foreign currency exchange rates for the applicable comparable period. It does not include any other effect of changes in foreign currency rates on the Company’s results or business. Non-GAAP information is not a substitute for, and is not superior to, information presented on a GAAP basis.

Conference Call

As previously announced, Conformis will conduct a webcast today at 4:30 PM Eastern Time. Management will discuss financial results and strategic matters. The webcast will be live at https://edge.media-server.com/m6/p/7axt74hp and at the investor relations section of the company’s website at ir.conformis.com.

The online archive of the webcast will be available on the company’s website for 30 days.

About Conformis, Inc.

Conformis is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that are individually sized and shaped, or customized, to fit each patient’s unique anatomy. Conformis offers a broad line of customized knee and hip implants and customized pre-sterilized, single-use instruments delivered in a single package to the hospital. In clinical studies, Conformis iTotal CR knee replacement system demonstrated superior clinical outcomes, including better function and greater patient satisfaction, compared to traditional, off-the-shelf implants.  Conformis owns or exclusively in-licenses issued patents and pending patent applications that cover customized implants and customized patient-specific instrumentation for all major joints.

For more information, visit www.conformis.com. To receive future releases in e-mail alerts, sign up at http://ir.conformis.com/.

Cautionary Statement Regarding Forward-Looking Statements

Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated timing of our product launches, and our financial position and results, total revenue, product revenue, gross margin, operations, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including whether our cash resources will be sufficient to fund our continuing operations for the periods anticipated; risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations; and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

CONTACT:
Investor contact
Oksana Bradley
ir@conformis.com
(781) 374-5598

CONFORMIS, INC. AND SUBSIDIARIES
Consolidated Statements of Operations
(unaudited)
(in thousands, except share and per share data)
Three Months Ended September 30,
2018 2017
Revenue
Product $ 18,332 $ 18,176
Royalty 10,652 249
Total revenue 28,984 18,425
Cost of revenue 9,265 11,111
Gross profit 19,719 7,314
Operating expenses
Sales and marketing 9,053 8,741
Research and development 3,867 4,081
General and administrative 6,582 7,402
Goodwill impairment 6,731
Total operating expenses 26,233 20,224
Loss from operations (6,514 ) (12,910 )
Other income and expenses
Interest income 164 137
Interest expense (788 ) (718 )
Foreign currency exchange transaction (loss) income (272 ) 1,099
Total other (expenses) income, net (896 ) 518
Loss before income taxes (7,410 ) (12,392 )
Income tax provision 27 80
Net loss $ (7,437 ) $ (12,472 )
Net loss per share
Basic and diluted $ (0.12 ) $ (0.29 )
Weighted average common shares outstanding
Basic and diluted 60,225,504 43,468,559
CONFORMIS, INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(in thousands, except share and per share data)
September 30, 2018 December 31, 2017
Assets  (unaudited)
Current Assets
Cash and cash equivalents $ 21,685 $ 18,348
Investments 15,248 26,880
Accounts receivable, net 11,664 13,200
Royalty receivable 10,634
Inventories 10,059 9,184
Prepaid expenses and other current assets 1,830 2,246
Total current assets 71,120 69,858
Property and equipment, net 14,582 16,514
Other Assets
Restricted cash 462 462
Intangible assets, net 134 210
Goodwill 6,731
Other long-term assets 23 23
Total assets $ 86,321 $ 93,798
Liabilities and stockholder’s equity
Current liabilities
Accounts payable $ 4,457 $ 4,891
Accrued expenses 7,997 7,720
Deferred revenue 305
Total current liabilities 12,454 12,916
Other long-term liabilities 627 651
Deferred tax liabilities 36 37
Deferred revenue 4,014
Long-term debt, less debt issuance costs 29,749 29,667
Total liabilities 42,866 47,285
Commitments and contingencies
Stockholders’ equity
Preferred stock, $0.00001 par value:
Authorized: 5,000,000 shares authorized at September 30, 2018 and December 31, 2017; no shares issued and outstanding as of September 30, 2018 and December 31, 2017
Common stock, $0.00001 par value:
Authorized: 200,000,000 shares authorized at September 30, 2018 and December 31, 2017; 63,638,018 and 45,528,519 shares issued and outstanding at September 30, 2018 and December 31, 2017, respectively 1
Additional paid-in capital 511,249 486,570
Accumulated deficit (465,797 ) (436,821 )
Accumulated other comprehensive loss (1,998 ) (3,236 )
Total stockholders’ equity 43,455 46,513
Total liabilities and stockholders’ equity $ 86,321 $ 93,798

 

OsteoRemedies® Announces the First FDA Cleared Dual-Antibiotic Spacer and Bone Cement with Gentamicin and Vancomycin

MEMPHIS, Tenn.Nov. 1, 2018 /PRNewswire/ — OsteoRemedies®, LLC, a company focused on providing simple solutions to complex disorders, is pleased to announce the launch of the REMEDY SPECTRUM™️ GV Hip Spacer System and SPECTRUM™️ GV Bone Cement.  Building on its portfolio consisting of the only pre-made modular spacer system with Gentamicin for Hip, Knee and Shoulders, the REMEDY SPECTRUM™️ GV Hip System will provide surgeons with the first ever broad-spectrum treatment option with both Gentamicin and Vancomycin.

“We are very proud to have the first FDA cleared dual-antibiotic spacer system and bone cement offering,” stated Chris Hughes, President and Chief Executive Officer of OsteoRemedies®.  “Since we started the company in 2013, our commitment to the growing problem of treating joint infections has been our mission.  The amount of science, testing and clinical data supporting this launch is unparalleled in our space.  The addition of the SPECTRUM™️ GV portfolio, further enhances our vision for providing simple solutions for complex disorders for revision infection remedies and achieving a market leadership position in our niche.

The launch of the SPECTRUM™️ GV system will begin November 1- 4 at the American Academy of Hip and Knee Surgeons (AAHKS) in Dallas, Texas where OsteoRemedies® will be exhibiting at Booth # 308.  In addition to the introduction of SPECTRUM™, OsteoRemedies® will also be showcasing the newly launched REMEDY® Acetabular Cup Spacer, which in conjunction with the REMEDY® Hip System, provides the only Pre-formed all PMMA hip spacer option on the market. The existing portfolio will also be displayed, including the REMEDY® Modular Hip, Knee and Shoulder Spacer, OSTEOBOOST®️ RBK and FLORASEAL®️ Microbial Sealant along with UNITE® Antibiotic Bone Cement.

About OsteoRemedies®, LLC 
OsteoRemedies provides simple solutions to complex musculoskeletal disorders.  Their first introduction was the REMEDY® Spacer System. This was the first available modular system for hip, knee and shoulder two-stage infection revision arthroplasty.  The REMEDY® Spacer System and REMEDY SPECTRUM™️ GV Hip Spacers are indicated for temporary use (maximum 180 days) as an adjunct to total joint replacement in skeletally mature patients undergoing a two-stage procedure due to a septic process and where gentamicin or gentamicin and vancomycin are the most appropriate antibiotics based on the susceptibility pattern of the infecting micro-organisms.  SPECTRUM™ GV Bone Cement is indicated for use with the REMEDY SPECTRUM™ GV Hip Spacer System.  Other product offerings include OSTEOBOOST®️ RBK and FLORASEAL®️ Microbial Sealant and UNITE®️ AB Bone Cement.

The Company’s web site for news releases and other information is http://www.osteoremedies.com.

Contact 
Eric Stookey 
info@osteoremedies.com

SOURCE OsteoRemedies

Related Links

http://www.osteoremedies.com