Michael Barbella, Managing Editor05.13.23
Numbers drove ODT's website traffic this past week.
Whether it was company earnings, a treatment milestone, product launch, or divestiture, the numbers figured prominently into total pageviews. The top contender was Conformis Inc., which shared less-than-stellar Q1 financial results for the three months ending March 31. The company reported $12.8 million in total revenue, a 17% decrease year-over-year on a reported and constant currency basis. Product revenue fell 15% to $12.7 million primarily due to declines in U.S. knee orders following Conformis Inc.’s business model transition and manufacturing/supply chain challenges. Hip system proceeds, however, rose 3% to $800,000.
OssDsign attracted cybervisitors too, with news of its 1,000 U.S. patient milestone for the nanosynthetic bone graft OssDsign Catalyst. Product awareness has accelerated considerably in recent months: OssDsign reached a 500-patient milestone in January and doubled that number in four months. Launched in August 2021, OssDsign Catalyst is a nanosynthetic bone graft that stimulates healthy bone tissue formation in spinal fusion surgeries. The graft is composed of a proprietary nanocrystalline structure that is resorbed and replaced by new and healthy bone tissue.
OrthoPediatrics and Bioventus used numbers to drive website traffic, though somewhat more subtlely than Conformis and OssDsign. OrthoPediatrics did so by launching the RESPONSE Scoliosis portfolio—its 49th system for pediatric orthopedic care—and Bioventus followed suit by selling its wound business, including skin substitutes TheraSkin and TheraGenesis, to non-profit regenerative and life sciences firm LifeNet Health for $85 million. Of the sale total, $35 million will be paid in cash at close, a $5 million cash payment deferred 18 months, and $45 million in potential earnout payments. Bioventus expects to net about $30 million after fees and expenses, which will be used to repay existing debt.
Whether it was company earnings, a treatment milestone, product launch, or divestiture, the numbers figured prominently into total pageviews. The top contender was Conformis Inc., which shared less-than-stellar Q1 financial results for the three months ending March 31. The company reported $12.8 million in total revenue, a 17% decrease year-over-year on a reported and constant currency basis. Product revenue fell 15% to $12.7 million primarily due to declines in U.S. knee orders following Conformis Inc.’s business model transition and manufacturing/supply chain challenges. Hip system proceeds, however, rose 3% to $800,000.
OssDsign attracted cybervisitors too, with news of its 1,000 U.S. patient milestone for the nanosynthetic bone graft OssDsign Catalyst. Product awareness has accelerated considerably in recent months: OssDsign reached a 500-patient milestone in January and doubled that number in four months. Launched in August 2021, OssDsign Catalyst is a nanosynthetic bone graft that stimulates healthy bone tissue formation in spinal fusion surgeries. The graft is composed of a proprietary nanocrystalline structure that is resorbed and replaced by new and healthy bone tissue.
OrthoPediatrics and Bioventus used numbers to drive website traffic, though somewhat more subtlely than Conformis and OssDsign. OrthoPediatrics did so by launching the RESPONSE Scoliosis portfolio—its 49th system for pediatric orthopedic care—and Bioventus followed suit by selling its wound business, including skin substitutes TheraSkin and TheraGenesis, to non-profit regenerative and life sciences firm LifeNet Health for $85 million. Of the sale total, $35 million will be paid in cash at close, a $5 million cash payment deferred 18 months, and $45 million in potential earnout payments. Bioventus expects to net about $30 million after fees and expenses, which will be used to repay existing debt.
