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Year in Review

2014: A Recap of Strategic Activities in Fracture Repair

Editor’s Note: This segment-specific article is excerpted from the full version, covering major market segments, appearing in ORTHOKNOW January 2015.

To begin 2015, let’s look back at what fueled growth in 2014 in fracture repair. Here, we present companies that have merged and emerged, products that launched, projects that received funding. (Please note, ORTHOKNOW July 2014 features a review of 1H14 funding activity.)

Lending perspective from your peers, this issue includes insights gathered at the 2014 Musculoskeletal New Ventures Conference, as well. See companion articles,  “Business Development Execs Speak on M&A and Innovation” and “Industry Investments Stay Steady, Focus on Established Technologies.”


Start-ups, spin-outs and subsidiaries identified during 2014 included:

GEN2 Medical
Cleveland, Ohio, USA

  • Formed to import, manufacture and sell instruments and devices for use in all surgical specialties, with a primary focus on neurosurgery, orthopaedics and spine
  • Also partners with surgeon inventors to support more control over product development
  • Exclusive U.S. distributor of Rebstock spinal instruments from Germany



M&A Activity in 2014:

ORTHOWORLD’s Merger & Acquisition database recorded 41 transactions in 2014. The table below captures select OEM activities with applications in fracture repair; visit the M&A database to see all 41, including numerous deals among suppliers.

Also announced in 2014, and not yet closed:

  • Medtronic to acquire Covidien (slated for early 2015)
  • Wright Medical merging with Tornier (slated for 1H15)
  • Zimmer to acquire Biomet (slated for 1Q15)

 

Acquiring Company  Acquired Company
Cardinal Health  Emerge Medical, low-physician-preference trauma products
Stryker Small Bone Innovations extremities repair
Wright Medical  OrthoPro foot/ankle products
Wright Medical  Solana Surgical extremities repair



Fundings identified during 2H14 included:

Conventus Orthopaedics completed a $24MM Series AA equity round

  • To support clinical activities, commercial launch of Conventus DRS™ for distal radius fractures, commercialization of the Proximal Humerus PH fracture system, R&D for new indications, such as lower extremities


Surgical Frontiers closed a $7MM fund

  • To invest in its incubator focused upon musculoskeletal surgical technology start-ups
  • Initial funding commitments have been made to 3 portfolio companies addressing foot/ankle, sports medicine and trauma


Product launches in 2014 included:

MedShape
DynaNail® TTC Fusion System

  • Internal shape memory element is stretched during nail insertion; once nail is fixed in place with screws, shape memory element maintains target fusion bones in close apposition and under sustained compression for longer time periods than static, non-adaptive intramedullary devices
  • Successfully implanted in >100 tibiotalocalcaneal fusion procedures during targeted beta launch
  • Large number of high-risk patients reportedly experienced fusion with DynaNail, including many requiring bone allograft


Paragon 28
GORILLA™ R3CON Foot Plating System

  • Initial U.S. commercial launch
  • Ten interchangeable subsystems, may be used for MTP fusion, Lisfranc stabilization, Lapidus procedures, various opening wedge osteotomies
  • Includes array of non-site-specific plates for various procedures
  • Supplants Normed product line previously distributed by Paragon 28


Smith & Nephew
D-RAD SMART PACK™

  • For distal radius fractures
  • Includes 4 complete single-use sterile instrument kits with implants and a tray of sterile packaged fasteners/templates
  • Offers Chart Sticks™ to record part numbers for every patient, and individually packed screws that may reduce waste further by eliminating the need to discard unused screws


A portion of this article appeared in the December 2014 issue of BONEZONE®.

Sources: Company press releases, earnings calls, filings with the U.S. Securities and Exchange Commission, company web sites, articles in the public domain, etc.
 


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