Park City, UT

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Current Issues in Spine

February 2-4, 2017

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March 3, 2017 OrthoSpineNews

MARIETTA, Ga., March 1, 2017 /PRNewswire/ — MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human placental tissue allografts and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic, and Dental sectors of healthcare, announced today that the Audit Committee of its Board of Directors has completed its investigation and found no merit regarding allegations of wrongdoing that were made by two former employees against the Company.

As previously disclosed, the Company terminated two employees in December 2016 when it was discovered that the employees were selling products for other companies, some of which were competitive with the Company’s products, in violation of their contractual and common law duties to MiMedx. Following their terminations, MiMedx filed suit against these employees, and the employees in turn filed a wrongful termination suit against MiMedx asserting various allegations. Subsequently, the former employees dismissed their lawsuit and then brought wrongful terminations claims in different venues where the Company has filed suits against them.

The Audit Committee worked closely with independent counsel to conduct an extensive investigation into the claims alleged by these former employees. The Audit Committee has completed its investigation and confirmed there is no credible evidence of any wrongdoing on behalf of members of MiMedx management. The lawsuits with these former employees are ongoing and management continues to believe that the employees’ legal claims and accompanying allegations are without merit.

The Audit Committee’s findings have been submitted to and approved by the Company’s Board of Directors. The Audit Committee’s investigation determined that the Company has appropriately recognized revenue and found no credible evidence to indicate that any changes to the Company’s previously issued financial statements are necessary in light of the former employees’ allegations.

About MiMedx

MiMedx® is an integrated developer, processor and marketer of patent protected and proprietary regenerative biomaterial products and bioimplants processed from human amniotic membrane and other human birth tissues, such as amniotic fluid, umbilical cord and placental collagen, and human skin and bone. “Innovations in Regenerative Biomaterials” is the framework behind our mission to give physicians products and tissues to help the body heal itself. We process the human amniotic membrane utilizing our proprietary PURION® Process, to produce a safe and effective implant. MiMedx proprietary processing methodology employs aseptic processing techniques in addition to terminal sterilization. MiMedx is the leading supplier of amniotic tissue, having supplied over 700,000 allografts to date for application in the Wound Care, Burn, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare.

Safe Harbor Statement

This press release includes statements that look forward in time or that express management’s beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the Company’s beliefs regarding the validity of the employees’ claims. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include the normal risks of litigation, and the risk factors detailed from time to time in the Company’s periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2016, and its most recent Form 10Q filing. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company’s disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.

SOURCE MiMedx Group, Inc.

Related Links

http://www.mimedx.com


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March 1, 2017 OrthoSpineNews

March 1, 2017

BORDEAUX, France & BOSTON–(BUSINESS WIRE)–

IMPLANET (IMPL.PA) (IMPZY) (Euronext: IMPL, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, announces that the French patent office has granted a patent protecting the JAZZ Lock® implant in France.

A major component of an innovative range of band products for spine surgery, Jazz Lock® is an implant designed to treat degenerative spine disorders, whose global market potential is estimated at over $200 million.

An unrivaled implant, thanks to its locking system requiring no rod fixation, Jazz Lock® allows surgeons to shorten and simplify the surgical procedure by removing multiple steps and implants used in traditional system: locking screws and connecting rods.

Régis Le Couedic, Implanet’s Product Development & Manufacturing Director, says: “Obtaining this patent from the French patent office is the first step in fully protecting our Jazz Lock®, and more particularly, its locking mechanism that is the first of its kind in the market. The protection of this latter element is pivotal, insofar as the majority of our future developments will incorporate this technology. We continue to be extremely rigorous regarding the protection of our current and future innovations.”

Ludovic Lastennet, CEO of Implanet, adds: “We are continuing the strict execution of our development strategy, of which the comprehensive protection of our products is a major component. We have submitted the dossier to various global intellectual property authorities, notably the United States. Since its limited launch last autumn in the United States and Europe, Implanet has sold more than 300 Jazz Lock® implants to treat degenerative spine disorders. The clinical feedback from surgeons has been excellent, including important practical aspects such as ease of use and speed of implementation.

Next financial press release: 2016 annual results, on March 28, 2017

IMPLANET will participate in the following events:

  • GES (“Groupement d’étude sur la Scoliose” scoliosis study group), Strasbourg, France, March 9 to 11, 2017
  • AAOS (American Academy of Orthopedic Surgery), San Diego CA, USA, March 15 to 17, 2017

About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 48 staff and recorded 2016 sales of €7.8 million. For further information, please visit www.implanet.com.
Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.
IMPLANET is listed on Compartment C of the Euronext™ regulated market in Paris.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170228007033/en/


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February 28, 2017 OrthoSpineNews

February 28, 2017

COLLEGEVILLE, Pa.–(BUSINESS WIRE)–Synergy Biomedical, LLC, a developer of innovative bone graft products for spine and orthopedic surgery, announced today that it has received CE Mark clearance in the European Union for its next generation bone graft, BIOSPHERE PUTTY.

Originally launched in the U.S. in 2013, BIOSPHERE PUTTY is a synthetic bone graft product that utilizes a unique form of bioactive glass in combination with a moldable phospholipid carrier. Based on the Company’s patented BioSphere Technology, BIOSPHERE PUTTY has been shown in vivo to significantly improve the healing potential of bioactive glass due to its spherical particle shape and optimized, bimodal size range.

“Since its introduction, BIOSPHERE PUTTY has been very well received by surgeons due to its successful clinical use and excellent intraoperative handling,” stated Dr. Mark Borden, Ph.D., President/CEO of Synergy. “We are very pleased to receive our CE Mark and are looking forward to introducing a truly next generation, synthetic bone graft product to the European community.”

Under its cleared European indication, BIOSPHERE PUTTY is intended to be used as a bone graft material for filling bony voids or gaps of the skeletal system. This includes the use of the product for interbody and posterolateral fusion, and general bone defect filling in the extremities and pelvis. The product may be used alone or in combination with autograft or allograft.

“When it comes to selecting the best bone graft strategy for each patient, there are a wide array of options for surgeons. BIOSPHERE PUTTY is an elegant bone graft solution that is based on scientifically valid principles,” said Erik Westerlund MD, FACS, Director of the Ortho-Neuro Integrated Spine Surgery Program at St. Francis Hospital in the U.S. “It applies an advanced and refined understanding of bioactive glass to drive a purposeful cellular level response and to provide an ideal physical environment for even and predictable bone ingrowth. My clinical experience with BIOSPHERE PUTTY over the past two years has been excellent, with consistently successful long-term outcomes in a wide range of spinal applications. It is an extremely thoughtful and equally versatile bone graft solution.”

BIOSPHERE PUTTY is the first of several bone graft products being developed by Synergy Biomedical that utilize patented bioactive glass spheres that have been shown to improve the bone healing potential of bioactive glass. BIOSPHERE PUTTY provides surgeons with a moldable bone graft material that is easy to use and compatible with a variety of bone grafting techniques.

About Synergy Biomedical, LLC

Founded in 2011, Synergy Biomedical is a privately-held medical device company focused on bringing innovative biomaterial based products to the orthopaedic and spinal markets. The Company’s BioSphere Technology represents a unique approach to advancing bone graft technology, and improving bone healing and patient outcomes.

Contacts

Synergy Biomedical, LLC
Mark Borden, Ph.D.
President/CEO
484-902-8141
www.synergybiomedical.com
info@synergybiomedical.com


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February 22, 2017 OrthoSpineNews

By Michael Mezher – 21 February 2017

Sens. Johnny Isakson (R-GA) and Michael Bennett (D-CO) have introduced a bill that looks to dramatically alter the US Food and Drug Administration’s (FDA) process for inspecting device manufacturers.

Specifically, the bill calls for FDA to implement a more consistent, risk-based inspection process, as well as to improve communications with device makers regarding inspections and findings.

“The current device facility inspection process lacks transparency, predictability and consistency between facilities,” Isakson said. “This bill is designed to improve communication and consistency in the device facility inspections process, which will allow both FDA and device manufacturers to make more efficient use of resources.”

According to the bill, inconsistencies in how inspections are conducted across FDA’s foreign and domestic offices create challenges for device makers.

“The frequency and nature of inspections of device establishments are not consistently risk-based and a comprehensive, transparent, risk-based approach to inspections would result in greater focus on more significant risks to public health while reducing the burdens on establishments with a strong track record of compliance,” the bill states.

 

READ THE REST HERE


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February 21, 2017 OrthoSpineNews

By for Zero Day – February 21, 2017

The heat is on medical device vendors, healthcare providers, and security firms to tackle the emerging problem of cyberattacks focused on the Internet of Medical Things (IoMT).

Hardly a week goes by when we don’t hear of the latest company to fall victim to hackers, but the ability to compromise medical devices may go far beyond the consequences of standard malware infections and the theft of personally identifiable information (PII).

Attacks against medical devices can occur due to social engineering and network infiltration, as well as vulnerabilities in hardware and software. The most common threats today include ransomware, man-in-the-middle (MiTM) attacks, phishing and, on occasion, physically compromising devices.

Strong networks can create a barrier between attackers and healthcare systems, but medical devices can suffer from the same vulnerabilities, exploits, outdated firmware and security flaws that plague traditional computer systems.

Medical device security hit the spotlight in 2012 when IOActive security researcher Barnaby Jack discovered transmitter security flaws which could be used to deliver lethal shocks to pacemakers. Recently, medical equipment maker St. Jude Medical was forced to patch security holes in the firm’s cardiac devices.

While medical devices may be targeted for the purposes of causing harm to individual patients or blackmail, one of the main reasons appears to be for financial gain.

In March 2016, US hospital chain MedStar’s IT infrastructure was crippled after a successful malware attack, and California’s Hollywood Presbyterian Medical Center paid attackers thousands of dollars after ransomware disrupted critical services in the same year.

Speaking to ZDNet, Jason Allaway, vice president of RES UK & Ireland, said the main threat to hospitals is ransomware due to the “devastatingly effectiveness” of attacks — and “because the consequence of losing data goes far beyond a financial cost.”

“Unlike data held by other organizations, such as those operating in finance, medical data holds a life or death value,” Allaway says. “Medical organizations can’t even give out the most basic of painkillers if their data is not fully available. […] Unless hospitals have a stringent backup policy, there is little option other than paying a ransom so that staff can continue to provide critical medical care.”

 

READ THE REST HERE


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February 17, 2017 OrthoSpineNews

The FDA has identified this as a Class I recall, the most serious type of recall. Use of these devices may cause serious injuries or death.

Recalled Product:


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February 16, 2017 OrthoSpineNews

ATLANTA, GA–(Marketwired – Feb 15, 2017) – Medovex Corp. ( NASDAQ : MDVX ), a developer of medical technology products, today announced that the Company successfully completed its final CE Mark audit meeting. The review of the Company’s DenerveX™ System was conducted February 7-9, 2017 by LNE/GMED, a French-based Notified Body firm. This audit is required to demonstrate compliance with the regulatory requirements to achieve CE Mark approval.

Patrick Kullmann, Medovex President and COO, stated, “We’re very pleased to have completed our certification audit of the DenerveX System February 7-9, 2017 at the Company’s Atlanta based offices. Our in-house development team, along with several representatives from our world-class suppliers and consultants, contributed extensively during this process due to their vast expertise in R&D, manufacturing, electro-surgery, regulatory, quality, and sterilization processes.”

Kullmann further stated, “Upon successfully completing this audit, the CE certificate would generally be expected to be issued paving the way to the future launch of the DenerveX System in the EU and other countries which accept the CE Mark.”

Previously on January 3, 2017, the Company announced it had successfully received certification of compliance for its DenerveX System from SGS S.A. a Swiss based multinational testing and certification firm. Compliance testing included electrical safety testing for US, Canada and the European Union.

Prior to that on November 3, 2016, the Company announced that it held a successful cadaver lab during NASS 2016. Medical advisory board members Martin Deeg, MD from Stuttgart, Germany, Vik Kapoor, MD from Manchester, England, as well as Gabriel Davila, MD from Colombia, Latin America, highlighted the DenerveX System. Thirty spine surgeons from Europe and Latin America attended the lab, both experiencing and using the device.

Jarrett Gorlin, Medovex CEO, commented, “I’m very proud of our team and how they prepared for and handled this important event. Together, we have spent countless hours in anticipation of meeting with representatives of LNE/GMED. Although a date has not been provided for the anticipated receipt of the CE certificate or the launch of the product, we believe we remain well on our way to completing the final regulatory step in the process of achieving CE Marking.”

The DenerveX System consists of the DenerveX device, a single use medical device and the DenerveX Pro-40 Power Generator, both designed to be less invasive with faster recovery time than current surgical treatment options, and is expected to provide for a longer lasting treatment solution while offering potential savings to the health care system.
DenerveX system is not yet CE marked or FDA cleared and is not yet commercially available.

About Medovex
Medovex was formed to acquire and develop a diversified portfolio of potentially ground breaking medical technology products. Criteria for selection include those products with potential for significant improvement in the quality of patient care combined with cost effectiveness. The Company’s first pipeline product, the DenerveX device, is intended to provide long lasting relief from pain associated with facet joint syndrome at significantly less cost than currently available options. To learn more about Medovex Corp., visit www.medovex.com

Safe Harbor Statement
Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the Securities and Exchange Commission (the “SEC”), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.


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February 14, 2017 OrthoSpineNews

February 14, 2017

HUNTLEY, Ill.–(BUSINESS WIRE)–Centric Medical, a division of Life Spine, Inc., which focuses on developing surgical implants for the treatment of distal extremity pathology, announced today that the U.S. Food and Drug Administration (FDA) has given 510(k) marketing clearance to the Metatarsal Hemi Implant System. The Metatarsal Hemi Implant for the metatarsophalangeal joint is intended for use in the treatment of patients with degenerative and post-traumatic arthritis in the metatarsal joint in the presence of good bone stock along with the following clinical conditions: hallux valgus or hallux rigidus, and an unstable or painful metatarsal/phalangeal (MTP) joint. The device is a single use implant intended to be used with bone cement or without bone cement.

The Metatarsal Hemi Implant has a round head and tapered stem that is fixated to the first metatarsal. The round head resurfaces the metatarsal head at the metatarsophalangeal joint. The Metatarsal Hemi Implant utilizes a cobalt chrome and highly polished “mirror” finish head that minimizes friction between articulating surfaces, reducing cartilage wear. The implant comes in 5 sizes to accommodate varying patient anatomies, and has an anti-rotational stem to increase implant stability.

The Metatarsal Hemi Implant joins a growing portfolio which includes innovative osteobiologic products, as well as the groundbreaking TARSA-LINK Stand-Alone Wedge Fixation System, the market’s first stand-alone osteotomy wedge with built-in fixation. The system was released to the market in September 2016.

About Centric Medical

Centric Medical is dedicated to improving the quality of life for patients with distal extremity symptomatology, increasing procedural efficiency and efficacy through innovative design, uncompromising quality standards, and the most technologically advanced manufacturing platforms. Centric Medical, which is privately held, is based in Huntley, Illinois.

Contacts

Centric Medical
Ms. Amanda Rains
Director of Marketing
arains@centricmedical.com
847-884-6117


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February 14, 2017 OrthoSpineNews

By NEIL VERSEL – February 2017

There are plenty of unknowns about newly installed Health and Human Services Secretary Dr. Tom Price, but two things are pretty clear: He knows the intricacies of the healthcare industry and he is deferential to the role of physicians.

Friday, Price became the 23rd HHS secretary after the Senate confirmed his nomination in the wee hours by a 52-47 vote that broke strictly along party lines. An orthopedic surgeon who previously represented suburban Atlanta in Congress, Price is the first physician to head HHS since Dr. Louis Sullivan in 1989-93.

“It’s significant that he’s a physician,” said Julius W. Hobson, a senior policy advisor in the Washington office of law firm Polsinelli. “They have different viewpoints” than other bureaucrats, said Hobson, a former American Medical Association lobbyist who has known Price since 1994.

“He, [Steven] Mnuchin at Treasury and [James] Mattis at Defense are probably the cream of the crop in this administration in terms of experience and knowledge,” Hobson said.

Hobson noted that Price has long been involved in organized medicine, via the AMA, the Medical Association of Georgia and, yes, the controversial Association of American Physicians and Surgeons. “Even in the House, he was active in the AMA,” Hobson noted.

In shaping healthcare policy, Price always has physician interests in mind. “He will first and foremost look at how public policy will affect the practice of medicine,” according to Hobson.

 

READ THE REST HERE


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February 9, 2017 OrthoSpineNews

BY

Intuitive Surgical (NSDQ:ISRG) last week warned of the risks posed to its business by the geopolitical shifts of the past year, including the likely repeal of Obamacare, the U.S.’s threatened abrogation of the North American Free Trade Agreement and Great Britain’s pending exit from the European Union.

In its annual report filed Feb. 3, the robot-assisted surgery market’s leading player warned that a repeal of the Patient Protection & Affordable Care Act, enacted in 2010, “could have a negative impact on the demand for our products.”

“Any changes of, or uncertainty with respect to future reimbursement rates, or changes in hospital admission rates could impact our customers’ demand for our products and services, which in turn could impact our ability to successfully commercialize our products, or could limit or eliminate our spending on certain development projects. These changes could have a material adverse effect on our business, financial condition, results of operations or cash flows,” the company wrote in the filing. “We are unable to predict whether other healthcare policies, including policies stemming from legislation or regulations affecting our business may be proposed or enacted in the future; what effect such policies would have on our business; or the effect ongoing uncertainty about these matters will have on the purchasing decisions of our customers.”

 

READ THE REST HERE