Michael Barbella, Managing Editor06.08.24
Money and manpower moved the bulk of ODT website traffic this past week.
Stryker commanded the lead by announcing a deal to acquire Artelon, a privately-held company specializing in soft tissue fixation products for foot/ankle and sports medicine procedures. The acquisition will help Stryker strengthen its foot/ankle and sports medicine market position, as it now gains a biomaterial technology that supports soft tissue healing. It also highlights Stryker’s drive to offer differentiated solutions for reconstructing ligaments and tendons. Stryker and Artelon will continue to operate as separate entities until the transaction closes.
restor3d attracted website visitors with news of its $55 million Series A funding round, which will help the company accelerate growth and innovation in several key areas. The firm also gained a further $15 million in debt financing led by Trinity Capital.
Innovasis' financial follies prompted plenty of pageviews as well—but for a not-so-pleasant reason. The spinal device manufacturer and two of its top executives have agreed to shell out $12 million to resolve False Claims Act allegations—specifically, that the company paid surgeons to use its spinal implants on Medicare patients. The alleged kickbacks by Innovasis occurred over a nine-year span (Jan. 1, 2014 through Dec. 31 2022), according to settlement agreement released by the U.S. Justice Department. During that time, Innovasis paid 17 orthopedic surgeons and neurosurgeons to use the company's spinal implants, devices and other equipment in procedures on Medicare patients, the U.S. government charged.
Non-money matters that measured up with digital guests this past week included Orchid Orthopedic Solutions' new chief operations officer, and Materialise's 3D planning software that improves in-house surgical preparation through increased automation and enhanced accuracy.
Stryker commanded the lead by announcing a deal to acquire Artelon, a privately-held company specializing in soft tissue fixation products for foot/ankle and sports medicine procedures. The acquisition will help Stryker strengthen its foot/ankle and sports medicine market position, as it now gains a biomaterial technology that supports soft tissue healing. It also highlights Stryker’s drive to offer differentiated solutions for reconstructing ligaments and tendons. Stryker and Artelon will continue to operate as separate entities until the transaction closes.
restor3d attracted website visitors with news of its $55 million Series A funding round, which will help the company accelerate growth and innovation in several key areas. The firm also gained a further $15 million in debt financing led by Trinity Capital.
Innovasis' financial follies prompted plenty of pageviews as well—but for a not-so-pleasant reason. The spinal device manufacturer and two of its top executives have agreed to shell out $12 million to resolve False Claims Act allegations—specifically, that the company paid surgeons to use its spinal implants on Medicare patients. The alleged kickbacks by Innovasis occurred over a nine-year span (Jan. 1, 2014 through Dec. 31 2022), according to settlement agreement released by the U.S. Justice Department. During that time, Innovasis paid 17 orthopedic surgeons and neurosurgeons to use the company's spinal implants, devices and other equipment in procedures on Medicare patients, the U.S. government charged.
Non-money matters that measured up with digital guests this past week included Orchid Orthopedic Solutions' new chief operations officer, and Materialise's 3D planning software that improves in-house surgical preparation through increased automation and enhanced accuracy.