Orthopedics Earnings Roundup
This article was originally published in The Gray Sheet
Financial earnings reports from Smith & Nephew, Wright Medical, Zimmer, Stryker and Orthofix.
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The all-stock transaction valued at around $3.3 billion will create a device and biologics company with a comprehensive focus on orthopedic extremities surgery. The firms expect cost synergies of $40 to $45 million.
FDA instructed to the company to obtain new clearances for design modifications already made to Renasys. The company says 510(k)s for these changes are pending.
The agency has agreed to accept Wright Medical’s PMA amendment for its embattled Augment bone graft, saving the firm from going to a dispute resolution panel this spring.