Michael Barbella, Managing Editor01.07.23
New year, new beginnings.
That seemed to be the theme behind this past week's orthopedic news favorites.
Zimmer Biomet kicked off 2023 with an agreement to acquire Embody Inc., while Tecomet is starting fresh this year with a new president/CEO. Zimmer Biomet's $275 million deal for Embody includes the target company's complete portfolio of collagen-based biointegrative solutions to support healing in soft tissue injuries – including the TAPESTRY biointegrative implant for tendon healing and TAPESTRY RC, an arthroscopic implant systems for rotator cuff repair. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023.
Andreas Weller moved into Tecomet's corner office on Jan. 3, succeeding Bill Dow, who has served as the company’s interim CEO since June 2022. Weller’s experience includes seven years with the Boston Consulting Group and 20 years of increasing responsibility in the contract manufacturing industry. He most recently was president and CEO of Aludyne, a light-weighting solutions and components supplier to the mobility industry.
SI-BONE welcomed the new year with additional FDA clearance for its iFuse Bedrock Granite, enabling the product to be used with various commercially available pedicle screw system rods. The iFuse implant is typically used both to immobilize and fuse the sacroiliac (SI) joint and to serve as foundational support at the base of a spine fusion construct. The initial clearance included an indication for use with a single manufacturer’s pedicle screw system. The expanded indications include use with a wide range of rods that are commonly used in multilevel spine fusion surgeries.
Spineart and eCential Robotics, meanwhile, celebrated the start of 2023 by forging an R&D, marketing and commercialization partnership while Lipogems began the new year €12.5 million richer, having raised enough capital to support FDA-approved IDE studies in knee osteoarthritis.
That seemed to be the theme behind this past week's orthopedic news favorites.
Zimmer Biomet kicked off 2023 with an agreement to acquire Embody Inc., while Tecomet is starting fresh this year with a new president/CEO. Zimmer Biomet's $275 million deal for Embody includes the target company's complete portfolio of collagen-based biointegrative solutions to support healing in soft tissue injuries – including the TAPESTRY biointegrative implant for tendon healing and TAPESTRY RC, an arthroscopic implant systems for rotator cuff repair. The acquisition is expected to be accretive to overall revenue growth and slightly dilutive to adjusted earnings per share in 2023.
Andreas Weller moved into Tecomet's corner office on Jan. 3, succeeding Bill Dow, who has served as the company’s interim CEO since June 2022. Weller’s experience includes seven years with the Boston Consulting Group and 20 years of increasing responsibility in the contract manufacturing industry. He most recently was president and CEO of Aludyne, a light-weighting solutions and components supplier to the mobility industry.
SI-BONE welcomed the new year with additional FDA clearance for its iFuse Bedrock Granite, enabling the product to be used with various commercially available pedicle screw system rods. The iFuse implant is typically used both to immobilize and fuse the sacroiliac (SI) joint and to serve as foundational support at the base of a spine fusion construct. The initial clearance included an indication for use with a single manufacturer’s pedicle screw system. The expanded indications include use with a wide range of rods that are commonly used in multilevel spine fusion surgeries.
Spineart and eCential Robotics, meanwhile, celebrated the start of 2023 by forging an R&D, marketing and commercialization partnership while Lipogems began the new year €12.5 million richer, having raised enough capital to support FDA-approved IDE studies in knee osteoarthritis.