Park City, UT

3 days / 6 sessions
Current Issues in Spine

February 2-4, 2017

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December 4, 2018 OrthoSpineNews

Kalamazoo, Michigan, Dec. 04, 2018 (GLOBE NEWSWIRE) — Kalamazoo, Michigan – December 4, 2018 – Stryker Corporation (NYSE:SYK) announced that its Board of Directors has declared a quarterly dividend of $0.52 per share payable on January 31, 2019 to shareholders of record at the close of business on December 31, 2018, representing an increase of approximately 11% versus the prior year and the previous quarter.

“We continue to deliver strong financial results, and consistent with our stated capital allocation philosophy, are raising our dividend 11%,” said Kevin A. Lobo, Chairman and Chief Executive Officer.

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

Contacts

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

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


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December 4, 2018 OrthoSpineNews

December 04, 2018

NOBLESVILLE, Ind.–(BUSINESS WIRE)–Nexxt Spine LLC, a medical device company focused on designing, manufacturing, and distributing innovative spinal solutions, today announced 510(k) clearance from the U.S. Food and Drug Administration (FDA) and full commercial launch of its SAXXONY® Posterior Cervical Thoracic System—a system designed to stabilize cervical (C1 to C7) and thoracic (T1 to T3) spinal segments via posterior screw fixation in patients with degenerative disease, deformity, tumor, or trauma.

“The SAXXONY® System adds a robust posterior complement to our well received anterior cervical fixation offering as we continue to innovate and grow our fusion portfolio,” said Andy Elsbury, Nexxt Spine President.

The comprehensive offering includes standard and smooth shank screws available in a variety of diameter and length combinations, low profile cross connectors featuring multi-axis adjustability, and various configurations of offset, parallel, and axial connectors. The implant offering is complemented by streamlined instrumentation designed to ease rod placement and facilitate procedural efficiency.

In order to simplify longer complex constructs, the SAXXONY® Posterior Cervical Thoracic System has been designed to seamlessly link to the INERTIA® Pedicle Screw System with a variety of 3.5 to 5.5mm or 3.5 to 6.5mm rod-to-rod connectors and transition rods.

About Nexxt Spine

Nexxt Spine, LLC is a privately held medical device manufacturer dedicated to increasing procedural efficiency and patient outcomes through development of innovative products, manufactured on the most technologically advanced platforms, and utilizing irreproachable quality standards to treat painful and debilitating spinal pathologies. The company is growing rapidly and continues to recruit regional sales managers and independent distributors. For more information on Nexxt Spine and its products, please visit www.nexxtspine.com or email info@nexxtspine.com.

Contacts

Sarah Caito
scaito@nexxtspine.com


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December 4, 2018 OrthoSpineNews

December 04, 2018

BEDFORD, Mass.–(BUSINESS WIRE)–Anika Therapeutics, Inc. (NASDAQ: ANIK), a global, integrated orthopedic and regenerative medicines company specializing in therapeutics based on its proprietary hyaluronic acid (“HA”) technology, today announced that it has resumed global distribution of its solid HA-based treatments, including HYALOFAST, a biodegradable, HA-based cartilage repair scaffold, after a voluntary, non-safety related recall in the second quarter of 2018. Following recent regulatory approvals in Thailand, the United Arab Emirates and Colombia, HYALOFAST has a commercial footprint in approximately 15 countries.

Since May, our quality and operations teams have worked tirelessly to get us back on line to resume shipments before the end of this year, and we’ve delivered on that promise,” said Joseph Darling, President and CEO, Anika Therapeutics. “We are excited to bring the benefits of these products back to the patients who need them. HYALOFAST, in particular, is a truly remarkable advancement in the treatment of cartilage defects due to its flexible minimally-invasive means of application and adaptive fit to individual patient needs. These features have led to an overwhelmingly positive physician response to the therapy and illustrate its significant advantages over traditional microfracture surgeries and conventional scaffolds.”

HYALOFAST is a non-woven, single-step, off-the-shelf, biodegradable HA-based scaffold for hyaline-like cartilage regeneration to treat cartilage injuries and defects. To date, the Company has seen HYALOFAST used to treat more than 15,000 patients internationally and has compiled strong eight-year patient follow-up data. HYALOFAST is pending regulatory submission in the United States and its FastTRACK Phase III trial is currently enrolling patients across the U.S. and Europe.

About Anika Therapeutics, Inc.

Anika Therapeutics, Inc. (NASDAQ: ANIK) is a global, integrated orthopedic medicines company based in Bedford, Massachusetts. Anika is committed to improving the lives of patients with degenerative orthopedic diseases and traumatic conditions with clinically meaningful therapies along the continuum of care, from palliative pain management to regenerative tissue repair. The Company has over two decades of global expertise developing, manufacturing, and commercializing more than 20 products based on its proprietary hyaluronic acid (HA) technology. Anika’s orthopedic medicine portfolio includes ORTHOVISC®MONOVISC®, and CINGAL®, which alleviate pain and restore joint function by replenishing depleted HA, and HYALOFAST, a solid HA-based scaffold to aid cartilage repair and regeneration. For more information about Anika, please visit www.anikatherapeutics.com.

Contacts

For Investor Inquiries:
Anika Therapeutics, Inc.
Sylvia Cheung, 781-457-9000
Chief Financial Officer

For Media Inquiries:
W2O Group
Sonal Vasudev, 917-523-1418
sonal@w2ogroup.com


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December 4, 2018 OrthoSpineNews

December 2, 2018 / Special to the Herald Times / By DOC WATSON

MEEKER, CO | The primary emphasis of the Nov. 27 Pioneers Medical Center board meeting was the future vision held by both staff and board in the areas of orthopedics as well as hospital expansion.

In preparation for that discussion, Development Director Margie Joy outlined PMC’s Strategic Plan for 2019–2022, elaborating on five focus areas: quality (excelling in all we do); finance (breaking even in 2020); growth (meeting the needs of local healthcare, such as orthopedics); people (being a premiere employer); and community (being a leader in public health concerns, such as tobacco, alcohol, suicide prevention, etc.). Also presented was the 2019 budget with projected revenues of $30.313 million and projected operating expenses of $26.633 million. The projected revenues are actually a 20.6 percent increase driven mainly by orthopedic surgeries. After other factors are figured in, the net projected income is $2.706 million.

The meeting then turned to the future vision. Meeker’s own Dr. Kevin Borchard—a highly acclaimed, board certified (American Academy of Orthopedic Surgeons) orthopedic surgeon—was on hand to propose the purchase of the Mako Total Knee Robotic-Arm to assist in knee surgeries. This $1 million piece of technology guarantees greater accuracy and precision in planning and performing knee replacement than manual technique. It also replaces several other surgical instruments and makes the job much easier for the surgeon and assistants.

While there are currently three locations on the Western Slope that have robotic surgery, none of them have joint fellowship-trained surgeons such as Dr. Borchard (and Dr. Dan Ward). “This, coupled with zero percent infection rate, low remission rate and short length of stay (in the hospital), would make Pioneers probably the top place on the Western Slope to get a joint replacement,” Borchard said.

This discussion then led to another need this robotic advancement and patient increase will demand, namely, building expansion. Joy elaborated on this by presenting three options. The most practical and cost effective one is option two, an approximately $7.7 million expansion that will add two operating rooms, three recovery rooms, six hospital rooms and additional clinic space.

 

READ THE REST HERE

 


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December 4, 2018 OrthoSpineNews

December 04, 2018

ST. PAUL, Minn.–(BUSINESS WIRE)–Spineology Inc., the innovator in anatomy-conserving spine surgery, announced today the appointment of two new members to its Board of Directors, Bob Paulson and Phil Soran.

Mr. Soran is a successful serial entrepreneur who has founded several technology companies and was inducted into the Minnesota Business Hall of Fame in 2016. He was co-founder, President, and CEO of XIOtech Corp., which sold to Seagate Technology for $360 million in 2000. Later, he served as President and CEO of Compellent Technologies, which went public in 2007 and was subsequently acquired by Dell Inc. for $960 million. Most recently, he co-founded Flipgrid, an educational technology company, which was purchased by Microsoft in June. He currently serves on the boards of Piper Jaffray, SPS Commerce, and Foodsby.

“Spineology is an exciting company with a great market opportunity. I look forward to finding ways to add value to this strong team,” commented Mr. Soran.

Mr. Paulson has a long history of leadership in the medical device arena, having most recently served as President and CEO of NxThera, Inc., a company focused on treating prostate conditions, leading and evolving the company from concept to commercialization, culminating with the acquisition of NxThera by Boston Scientific earlier this year for up to $406 million. Prior to NxThera, Mr. Paulson was President and CEO of Restore Medical, an innovator in the treatment of snoring and sleep apnea, leading the company through a successful Initial Public Offering (IPO) and subsequent sale to Medtronic Inc. He currently serves as a board member for Veran Medical Technologies and Sun BioPharma.

“I am delighted to have the opportunity to join the Spineology board as the company continues to expand the adoption and utilization of its pioneering, anatomy-conserving technology to improve the lives of patients suffering from degenerative spinal conditions,” said Mr. Paulson.

“Bob and Phil are both accomplished business leaders and experienced board members, and we feel fortunate to have them join our Board of Directors,” said John Booth, Spineology’s Chief Executive Officer. “We think they’ll add great value to the board and we look forward to leveraging their unique skill sets as we continue to scale the business.”

About Spineology Inc.
Spineology Inc. provides innovative, anatomy-conserving spinal technologies for surgeons and their patients. Spineology surgical techniques conserve spinal bone, ligament and muscle tissue. Spineology is committed to increasing procedural efficiency, reducing surgical morbidity and accelerating patient recovery. Learn more at spineology.com.

Contacts

Spineology Inc.
John Booth, 651-256-8511
jbooth@spineology.com
or
Risdall
Dave Folkens, 651-286-6713
dave@risdall.com


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December 4, 2018 OrthoSpineNews

December 04, 2018

MEMPHIS, Tenn.–(BUSINESS WIRE)–In2Bones Global, Inc. today announced the U.S. commercial market release of the CoLink Afx® Ankle Fracture System. The system is a collection of five plate families that address traumatic fractures and osteotomies (removal of bone) of the ankle.

Anatomy specific plate options consist of Lateral Fibula, Posterior-Lateral Fibula, One-Third Tubular, Medial Tibia, and Posterior Tibia. Associated 2.7 and 3.5mm cortical screws are offered with innovative CoLink® VAL- Variable Angle Locking Technology.

The low profile anatomically, designed titanium plates are type II anodized. They provide a stronger smoother surface compared to standard color anodization used in most plates on the market. The ultra-thin plates, along with minimal prominence at the plate and screw head interface, provide additional protection against patients experiencing soft tissue irritation, which can occur with conventional trauma hardware.

“This comprehensive set allows me to fix any pattern of ankle fracture,” says Travis Hanson, MD of Houston Methodist Orthopedics and Sports Medicine.

“It has every type of plate and screw combination that I need,” he says. “The contoured design of the new CoLink® Afx System provides increased confidence that my patients will receive a plate that fits their specific anatomy. These are the most low profile plates that I have used around the ankle.”

“We’re very excited about the commercial market release of the CoLink® Afx System,” says Jon Simon, Sr. Vice President of Marketing at In2Bones. “Expanding our portfolio into the high-volume ankle fracture market with a truly best-in-class product provides tremendous growth opportunities for us heading into 2019.”

For more information about In2Bones Global, Inc. extremity products, please visit www.In2Bones.com.

About In2Bones

Headquartered in Memphis, Tennessee, In2Bones is a global designer, manufacturer and distributor of medical devices for the treatment of disorders and injuries of the upper (hand, wrist, elbow) and lower (foot and ankle) extremities. For more information, visit www.in2bones.com.

Contacts

Jon Simon | Sr. Vice President of Marketing
In2Bones USA
M: 512.739.5793 • O: 901.260.7931 • F: 844-712-6637
Email: jsimon@i2b-usa.com
https://www.linkedin.com/company/22344175/

Bob Reed
Element-R Partners
630.579.1770
bob@rurelevant.com


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December 4, 2018 OrthoSpineNews

December 03, 2018

DUBLIN–(BUSINESS WIRE)–Regulatory News:

Mainstay Medical International plc (“Mainstay” or the “Company”, Euronext Paris: MSTY.PA and Euronext Dublin: MSTY.IE), a medical device company focused on commercializing ReActiv8®, an implantable restorative neurostimulation system designed to treat an underlying cause of disabling Chronic Low Back Pain, today announces that it will participate in the 13th German Spine Congress of the Deutsche Wirbelsäulengesellschaft (DWG), taking place in Wiesbaden from December 6-8. DWG will be the first medical meeting at which pivotal clinical data from the Company’s ReActiv8-B clinical study will be discussed.

A distinguished faculty of physicians, each of whom has deep experience with Reactiv8, will present the clinical data and the scientific background of the therapy, and describe commercial treatment of patients in Germany:

  • Dr. Jörg Franke, Chief, Department of Orthopedics, Klinikum Magdeburg, will chair the symposium where the results from the ReActiv8-B study will be presented, and also provide his experience with ReActiv8 in Germany;
  • Dr. Chris Gilligan, Chief, Division of Pain Medicine, Department of Anaesthesiology, Perioperative and Pain Medicine Brigham & Women’s Hospital, Assistant Professor of Anaesthesia, Harvard Medical and Principal investigator of the study, will present the pivotal clinical data from the ReActiv8-B study;
  • Dr. Jan Schilling, Chief of Spine and Neurosurgery, Tabea Hospital in Hamburg, will introduce the scientific background and the underlying physiological mechanisms of this new restorative treatment for chronic low back pain; and
  • Dr. Ardeshir Ardeshiri, Chief of Spine Surgery at Klinikum Itzehoe, will present his “real world” experience with ReActiv8 in Germany via his initial series of patient outcomes.

“As Germany is our first commercial market for ReActiv8, I am excited to be unveiling the data from our ReActiv8-B clinical study to the scientific community at the German Spine Congress,” said Jason Hannon, Chief Executive Officer of Mainstay. “We believe the long-term clinical results demonstrated in the study are compelling, particularly that we are seeing more than 60% of the study patients reporting greater than 50% pain relief at one year. We look forward to discussing the results with the attending physicians, and we plan to leverage the study results in continuing to drive our commercial business in Germany and more broadly in Europe.”

“The data from the ReActiv8-B clinical study through one year, and the favourable safety profile demonstrate that ReActiv8 is a viable restorative treatment option for patients with chronic low back pain,” said Dr. Franke. “ReActiv8 has the potential to provide long-term pain relief to this patient population, which suffers from a lack of available treatment alternatives.”

The ReActiv8 B clinical study is an international, multi-center, prospective, randomized, active-controlled, blinded trial with one-way cross-over, conducted under an Investigational Device Exemption (IDE) from the U.S. Food & Drug Administration (FDA). A total of 204 patients were implanted with ReActiv8 at leading study centers in the U.S., Europe and Australia and randomized 1:1 to therapy or control 14 days after implant. The initial results from this clinical study were announced by Mainstay on November 19, 2018.

“The results from this study confirm the results we have seen in our own experience with chronic mechanical low back pain patients with ReActiv8,” said Dr. Schilling. “There is an urgent need for new, effective therapies to treat long-term, mechanical low back pain, and the data from the studies demonstrate that ReActiv8 can provide sustained pain reduction over time.”

Mainstay will hold a ReActiv8-B symposium at which the physician faculty will make their presentations. The symposium will take place on Friday, December 7 from 13:00 – 14:30 in Studio 1.2 A & B at the Rhein Main Congress Center. Seating is limited. Pre-registration is available through www.reactiv8-B.de.

The Company will also have a booth at the DWG Congress, location number 26, and Mainstay leadership and the symposium faculty will be available for further discussions throughout the conference.

About Mainstay

Mainstay is a medical device company focused on commercializing an innovative implantable restorative neurostimulation system, ReActiv8®, for people with disabling Chronic Low Back Pain (CLBP). The Company is headquartered in Dublin, Ireland. It has subsidiaries operating in Ireland, the United States, Australia, Germany and the Netherlands, and is listed on the regulated market of Euronext Paris (MSTY.PA) and the ESM of Euronext Dublin (MSTY.IE).

About the ReActiv8-B Study

The ReActiv8-B Study is an international, multi-center, prospective, randomized, sham-controlled, blinded trial with one-way crossover conducted under an Investigational Device Exemption (IDE). In summary, this means that eligible patients had baseline data collected and then following verification that the enrollment criteria were met, ReActiv8 was implanted. At the 14-day post implant follow up visit, half the patients were randomized to receive appropriately programmed stimulation (the treatment arm), and half were randomized to receive sham stimulation/low stimulation (the control arm). Information about the study can be found at https://clinicaltrials.gov/ct2/show/study/NCT02577354.

About Chronic Low Back Pain

One of the recognized root causes of CLBP is impaired control by the nervous system of the muscles that dynamically stabilize the spine in the low back, and an unstable spine can lead to back pain. ReActiv8 is designed to electrically stimulate the nerves responsible for contracting these muscles and thereby help to restore muscle control and improve dynamic spine stability, allowing the body to recover from CLBP.

People with CLBP usually have a greatly reduced quality of life and score significantly higher on scales for pain, disability, depression, anxiety and sleep disorders. Their pain and disability can persist despite the best available medical treatments, and only a small percentage of cases result from an identified pathological condition or anatomical defect that may be correctable with spine surgery. Their ability to work or be productive is seriously affected by the condition, and the resulting days lost from work, disability benefits and health resource utilization put a significant burden on individuals, families, communities, industry and governments.

Further information can be found at www.mainstay-medical.com

CAUTION – in the United States, ReActiv8 is limited by federal law to investigational use only.

Forward looking statements

This announcement includes statements that are, or may be deemed to be, forward looking statements. These forward looking statements can be identified by the use of forward looking terminology, including the terms “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “should”, “will”, or “explore” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward looking statements include all matters that are not historical facts. They appear throughout this announcement and include, but are not limited to, statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the data from the ReActiv8-B clinical study, the Company’s plans in relation to that data, and the Company’s results of operations, financial position, prospects, financing strategies, expectations for product design and development, regulatory applications and approvals, reimbursement arrangements, costs of sales and market penetration and other commercial performance.

By their nature, forward looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward looking statements are not guarantees of future performance, and the actual results of the Company’s operations, and the development of its main product, the markets and the industry in which the Company operates, may differ materially from those described in, or suggested by, the forward looking statements contained in this announcement. In addition, even if the Company’s results of operations, financial position and growth, and the development of its main product and the markets and the industry in which the Company operates, are consistent with the forward looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments of the Company to differ materially from those expressed or implied by the forward looking statements including, without limitation, the successful launch and commercialization of ReActiv8, the outcome of the ReActiv8-B Clinical Study, the outcome of the Company’s interactions with the FDA on a PMA application for ReActiv8, general economic and business conditions, global medical device market conditions, industry trends, competition, changes in law or regulation, changes in taxation regimes, the availability and cost of capital, the time required to commence and complete clinical trials, the time and process required to obtain regulatory approvals, currency fluctuations, changes in its business strategy, and political and economic uncertainty. The forward-looking statements herein speak only at the date of this announcement.

Contacts

PR and IR Enquiries:
Consilium Strategic Communications (international strategic communications – business and trade media)
Chris Gardner, Jessica Hodgson, Nicholas Brown
Tel: +44 203 709 5700 / +44 7921 697 654
Email: mainstaymedical@consilium-comms.com

FTI Consulting (for Ireland):
Jonathan Neilan
Tel: +353 1 765 0886
Email: jonathan.neilan@fticonsulting.com

NewCap (for France)
Julie Coulot
Tel: +33 1 44 71 20 40
Email: jcoulot@newcap.fr

AndreasBohne.Com/Kötting Consulting (for Germany)
Andreas Bohne
Tel : +49 2102 1485368
Email : abo@andreasbohne.com
Wilhelm Kötting
Tel: +49 69 75913293
Email: wkotting@gmail.com

Investor Relations:


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December 3, 2018 OrthoSpineNews

CENTER VALLEY, Pa.Dec. 3, 2018 /PRNewswire/ — Olympus, a global technology leader in designing and delivering innovative solutions for medical and surgical procedures, among other core businesses, announced today that it has been recognized with the Surgical Products’ 2018 Excellence in Surgical Products (ESP) Award, distinguishing ENDOEYE FLEX 3D and FlexDex® (3D/FlexDex) as the winner in the OR Equipment and Accessories category. This is the fifth time Olympus has been named an ESP award winner.

Olympus’ 3D imaging combined with FlexDex technology simplifies suturing in difficult-to-reach areas by precisely translating the surgeon’s hand, wrist and arm movements from outside the patient into corresponding movements of an end-effector inside the patient’s body. With a chip-on-tip and dual lens design, the ENDOEYE FLEX 3D video laparoscope restores natural 3D vision and depth perception during laparoscopic procedures and mimics what the human eye would see in open surgery. The 3D/FlexDex platform offers an alternative to high-cost robotics in minimal access surgery by providing the visualization and wristed instrumentation for suturing found in robotic technology, but at a fraction of the cost. Importantly, this technology can be used in any OR, at any time, on a laparoscopic platform already familiar to surgeons.

“Olympus is honored to receive this recognition from Surgical Products,” said Randy Clark, President of the Medical Systems Group at Olympus. “The Olympus 3D/FlexDex solution is an exciting addition to our portfolio. It provides both the patient and surgeon with more options compared to the alternative costs and limitations associated with robotic surgery. This allows us to stay true to our mission to drive increased quality of care, cost reductions and patient satisfaction.”

ESP Award winners are determined by magazine readers, commonly surgeons who have had hands-on experience or first-hand demonstration of the innovations being nominated. Readers voted for the companies and products they felt were most deserving by selecting those that contributed most to surgical performance, efficiency and safety.

Other Olympus products previously recognized as ESP award winners include:

  • 2017: PK AIM
  • 2016: VISERA 4K Ultra High Definition (UHD)
  • 2013: HD 3D Video Laparoscope
  • 2012: THUNDERBEAT

The Olympus 3D/FlexDex solution is showcased in the November/December issue of Surgical Products magazine as well as in the magazine eDaily newsletter.

About Surgical Products Magazine

Surgical Products is a publication for surgeons, anesthesiologists and department heads in charge of operating/emergency rooms, ICU/CCUs, infection control, OR materials management and other areas. Surgical Products has been published for 35 years, has a circulation of 55,000 and is published 10 times a year.

About Olympus Medical Systems Group

Olympus is a global technology leader, crafting innovative optical and digital solutions in medical technologies; life sciences; industrial solutions; and cameras and audio products. Throughout our nearly 100-year history, Olympus has focused on being true to society and making people’s lives healthier, safer and more fulfilling.

Our Medical Business works with health care professionals to combine our innovative capabilities in medical technology, therapeutic intervention, and precision manufacturing with their skills to deliver diagnostic, therapeutic and minimally invasive procedures to improve clinical outcomes, reduce overall costs and enhance quality of life for patients. For more information, visit medical.olympusamerica.com.

About FlexDex

FlexDex is an innovative medical device company that has developed a platform technology to provide surgeons with high performance and cost effective minimally invasive surgical instruments. The Company’s focus is to enable advanced minimally invasive procedures with greater precision and efficiency bringing the benefits of minimally invasive surgery to patients throughout the world. FlexDex was developed at the University of Michigan by co-founders Shorya Awtar, Sc.D., James Geiger, MD and Greg Bowles. This platform technology enables highly intuitive, one-to-one mapping of the surgeon’s arm and hand motions to the articulating instrument inside the patient’s body. The patented “Virtual Center™” of the FlexDex platform is a simple mechanical design that, we believe, will greatly enhance the capabilities of all Minimally Invasive Surgical (MIS) instruments. The FlexDex Needle Driver, the first instrument of the FlexDex platform, has been granted the CE mark and is available for sale in the United States and internationally. For more information visit https://flexdex.com

SOURCE Olympus Medical Systems Group

Related Links

http://medical.olympusamerica.com


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November 30, 2018 OrthoSpineNews

November 30, 2018 / John Russell

Dr. Rick C. Sasso, an Indiana spine surgeon and inventor, has won a sweeping, five-year legal battle against medical-device giant Medtronic, with a jury this week awarding him $112 million in damages.

Sasso, 58, president of Carmel-based Indiana Spine Group, had claimed that Medtronic had violated a contract by not paying royalties he was due for spinal implants and screw-implant systems he had invented and sold to the company more than a decade ago. The systems became one of the company’s largest product lines, with annual sales of more than $200 million.

Along the way, Medtronic paid Sasso more than $20 million in royalties, but he contended the company shortchanged him, breaching its obligations and acting in bad faith.

A six-person jury in Marshall County Circuit Court returned the verdict in favor of Sasso on Wednesday, wrapping up a nearly month-long trial.

Medtronic—based in suburban Minneapolis with operations in Warsaw, Indiana—had acknowledged that Sasso played a role in inventing several products. But the company argued Sasso was seeking payment “far in excess of the value of his contributions.”

In a regulatory filing Thursday, the company said it has “strong arguments to appeal the verdict” and will file post-trial motions with appellate courts.

But Sasso’s attorney, Frederick Emhardt of Plews Shadley Racher & Braun, said the jury—which included two science teachers–spoke loudly with their verdict, sifting through a complicated set of facts and circumstances.

“After a month of evidence, they learned much about spine surgery and the business of medical device sales and the need to honor contractual commitments, even if they were made by persons no longer with a company,” he said in an email. “In a period of six hours, they unanimously rendered a verdict awarding to a dollar what Dr. Sasso requested—$112,452,269. The jury system is a bedrock of our way of life. It worked exactly the way intended by our founders.”

Inventive surgeon

For more than a decade, Sasso appeared to have a model business relationship with Medtronic, one of the nation’s largest makers of spinal devices.

Court papers show Sasso considered himself a key member of the invention and engineering team at Medtronic. In one filing, he pointed out that he “attended several retreats with executives and engineers of Medtronic Spine and other inventors/surgeons like himself.” He added that he “contributed know-how and technical information to all phases of Medtronic Spine’s product designs.”

In addition to being an inventor, Sasso “is a world-class—and that’s not exaggeration—spine surgeon,” Plymouth-based attorney Jere L. Humphrey, who served as local counsel in the case, told the Pilot News in Plymouth, Indiana, where the trial was held. “He goes all over the world and gives instructions on how to do spine surgery.”

Sasso in recent weeks did not respond to several requests from IBJ to comment on the dispute. But in voluminous court filings and interviews with other outlets over the years, a picture emerges of a focused surgeon interested in finding new ways to do things.

He grew up in Warsaw, a city nicknamed the orthopedic capital of the world for the prevalence of medical-device companies focusing on the spine and joints. Sasso’s father was a veterinarian, and as a boy, Sasso wanted to become one too. He was accepted into Purdue University, but on his father’s advice, he changed his sights to human medicine and entered Wabash University, according to a 2007 profile story in the college magazine.

After getting his bachelor’s degree in 1982, Sasso entered the Indiana University School of Medicine, and later did his residency in orthopedic surgery at the University of Texas Medical School in Houston.

During a fellowship at Northwestern University in Chicago, Sasso noticed that surgeons had a difficult time tending certain spinal fractures and were still using primitive methods, such as wires, rods and big hooks.

“Nothing made sense,” Sasso told Wabash magazine. “Nothing worked. I’m training with these world experts and they say, ‘Oh yeah, this is the way we do things.’ I think, ‘This is the most ridiculous way.’”

So he soon began experimenting with a new system of his own. In 1994, Sasso and an engineer, Dan Justin, filed a patent application for a spine-implant device, involving screws and rods that would provide stability in the upper neck.

Around the same time, Sasso formed a start-up company, See LLC, with his brother and father-in-law, to manage his intellectual property. He and Justin were issued a patent in 1997.

They initially had trouble getting medical device companies interested in the invention because there were no similar surgical systems on the market, according to court papers filed by Sasso.

But Sasso finally had a breakthrough after being introduced to Robert Compton, an Indiana venture capitalist who was president of Sofamor Danek Group, a maker of spinal instruments based in Memphis, Tennessee, that had operations in Warsaw.

Compton is well-known in Indiana as one of the early financial backers of the email-marketing firm ExactTarget, which was cofounded by Sasso’s brothers-in-law, Scott Dorsey and Chris Baggott. See LLC transferred its intellectual property rights to Sofamor Danek in return for $100,000 in cash, 1,500 shares of stock, and royalties.

Just a year later, Sofamor Danek Group was acquired by Medtronic for $3.3 billion, and in the ensuing years, Sasso entered into several agreements with Medtronic for a series of medical devices related to spinal stabilization.


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November 30, 2018 OrthoSpineNews

November 30, 2018

DUBLIN–(BUSINESS WIRE)–The “Global Hip & Knee Reconstruction Devices Market Analysis & Trends – Industry Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.

The Global Hip & Knee Reconstruction Devices Market is poised to grow strong during the forecast period 2017 to 2027.

Some of the prominent trends that the market is witnessing include rising gap between hospital costs and reimbursements, computer-assisted total hip replacement surgery is one of the hottest revolutions and latest technological developments of hip & knee reconstruction devices.

This industry report analyzes the market estimates and forecasts of all the given segments on global as well as regional levels presented in the research scope. The study provides historical market data for 2015, 2016 revenue estimations are presented for 2017 and forecasts from 2018 till 2027.

The study focuses on market trends, leading players, supply chain trends, technological innovations, key developments, and future strategies. With comprehensive market assessment across the major geographies such as North America, Europe, Asia Pacific, Middle East, Latin America and Rest of the world the report is a valuable asset for the existing players, new entrants and the future investors.

The study presents detailed market analysis with inputs derived from industry professionals across the value chain. A special focus has been made on 23 countries such as U.S., Canada, Mexico, U.K., Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, South Africa, etc.

The market data is gathered from extensive primary interviews and secondary research. The market size is calculated based on the revenue generated through sales from all the given segments and sub segments in the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

Report Highlights

  • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
  • Market forecasts till 2027, using estimated market values as the base numbers
  • Key market trends across the business segments, Regions and Countries
  • Key developments and strategies observed in the market
  • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
  • In-depth company profiles of key players and upcoming prominent players
  • Growth prospects among the emerging nations through 2027
  • Market opportunities and recommendations for new investments

Key Topics Covered

1 Market Outline

1.1 Research Methodology

1.1.1 Research Approach & Sources

1.2 Market Trends

1.3 Regulatory Factors

1.4 Product Analysis

1.5 Strategic Benchmarking

1.6 Opportunity Analysis

2 Executive Summary

3 Market Overview

3.1 Current Trends

3.1.1 Rising gap between hospital costs and reimbursements

3.1.2 Computer-assisted total hip replacement surgery is one of the hottest revolutions

3.1.3 Latest Technological Developments of Hip & Knee Reconstruction Devices

3.1.4 Growth Opportunities/Investment Opportunities

3.2 Drivers

3.3 Constraints

3.4 Industry Attractiveness

3.4.1 Bargaining power of suppliers

3.4.2 Bargaining power of buyers

3.4.3 Threat of substitutes

3.4.4 Threat of new entrants

3.4.5 Competitive rivalry

4 Hip & Knee Reconstruction Devices Market, By Product

4.1 Knee Reconstruction Devices

4.1.1 Partial Knee Reconstruction Devices

4.1.2 Primary Cemented Knee Reconstruction Devices

4.1.3 Revision Knee Reconstruction Devices

4.1.4 Primary Knee Reconstruction Devices

4.1.5 Primary Cementless Knee Reconstruction Devices

4.2 Hip Reconstruction Devices

4.2.1 Partial Hip Reconstruction Devices

4.2.2 Hip Resurfacing Devices

4.2.3 Primary Hip Reconstruction Devices

4.2.4 Revision Hip Reconstruction Devices

5 Hip & Knee Reconstruction Devices Market, By Geography

5.1 North America

5.2 Europe

5.3 Asia Pacific

5.4 Middle East

5.5 Latin America

5.6 Rest of the World (RoW)

6 Key Player Activities

6.1 Acquisitions & Mergers

6.2 Agreements, Partnerships, Collaborations and Joint Ventures

6.3 Product Launch & Expansions

6.4 Other Activities

7 Leading Companies

7.1 Stryker Corporation

7.2 Corentec

7.3 Zimmer Biomet

7.4 Smith & Nephew PLC

7.5 Arthrex, Inc.

7.6 United Orthopedics Corporation

7.7 Baumer S.A.

7.8 Beijing Chunlizhengda Medical Instruments Co. Ltd.

7.9 DJO Global

7.10 Exactech, Inc.

7.11 Tornier, Inc

7.12 Allegra Orthopaedics Limited

7.13 Corin Group PLC

7.14 Japan MDM, Inc.

7.15 DePuy Synthes

For more information about this report visit https://www.researchandmarkets.com/research/2rknvs/global_hip_and?w=4

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Related Topics: Orthopedic Devices