surf1944
13 years ago
Stryker will buy competitor Orthovita for $304M
Stryker buying bone graft material maker Orthovita for about $304M in cash
On Monday May 16, 2011, 9:08 am
NEW YORK (AP) -- Orthopedic implant and surgical products maker Stryker Corp. said Monday it will buy rival Orthovita Inc. for about $304 million in cash.
Orthovita's products include Vitoss bone graft and Cortoss bone augmentation material. It also sells Vitagel, which is designed to reduce bleeding.
Stryker is offering $3.85 per share, a premium of 41 percent from Orthovita's closing price Friday. It will also assume $12 million in debt held by Orthovita.
Shares of Orthovita jumped $1.09, or 39.9 percent, to $3.82 in pre-market trading. The stock has have traded between $1.60 and $3.54 in the last year.
Stryker, of Kalamazoo, Mich., reported $7.32 billion in revenue in 2010. Orthovita, based in Malvern, Pa., had $95 million in revenue.
The boards of both companies have approved the deal, which also requires approval from the holders of at least half of Orthovita's shares as well as clearance from antitrust regulators. The companies said the holders of 14.5 percent of Orthovita shares have already committed to the deal.
Stryker will start an offer for Orthovita shares within 10 days, and it expects the deal to close during the second quarter.
surf1944
13 years ago
Orthovita: FDA clears new version of Vitoss graft
Orthovita's new version of Vitoss bone graft gets FDA clearance, stock jumps
Marley Seaman, AP Health Writer, On Friday February 11, 2011, 11:00 am EST
NEW YORK (AP) -- Shares of Orthovita Inc. advanced Friday after the company said it received marketing clearance for a new version of its Vitoss bone graft product.
Orthovita said it plans to start selling the product in late 2011 or early 2012.
Late Thursday, the Malvern, Pa., company said the Food and Drug Administration approved its Vitoss bimodal graft, which is indicated to fill bone gaps in the spine, pelvis, and extremities. Vitoss contains bioreactive glass that is designed to encourage the growth of new bone, and the bimodal graft contains smaller particles that are designed to break down more quickly after bone growth has started.
Orthovita shares climbed 35 cents, or 15.9 percent, to $2.55 in morning trading. Earlier the shares rose as much as 28.2 percent.
In December, the company received FDA clearance for its Vitoss Bioactive Foam-2X bone graft substitute. Orthovita said it will launch that version of the product at a medical conference next week, and it plans to launch the bimodal version nine to 12 months later. Orthovita's partner Kensey Nash Corp. will be paid to make the graft, and Kensey will receive royalties based on sales.
Based on studies on animals, the company says the bioreactive glass particles in the Vitoss bimodal graft break down in 20 to 24 weeks.
nostocksnoglory2
14 years ago
Bullish newsletter comments on VITA
today sent at www.greenbackers.com
copy of the newsletter:
3-5
Recall GTSI rebound focus following debacle monday.....to debate under 4
3.97 -0.17 (-4.08%) 3:59PM EDT
MEA up .18....Cannot locate news...
HBAN
3 Bank Stocks to Watch in Q3 at TheStreet.com Thu 7:32AM EDT
2-3
SPEX up 1.15...best%
Spherix Announces Statistically Significant Results in Phase 3 Study With D-tagatose in Type 2 DiabetesPR Newswire(Thu 8:02AM EDT)
ALVR up .49....up .45....up .51....
InPlay: Alvarion and Barrett Xplore sign multi-year agreement valued at over $75 mln to deploy a 4g network across CanadaBriefing.com(Thu 3:05AM EDT)
BIOF keeps going....up .12....up .17 at 3......up .21...
EPA Decision on E15 Could Have Bullish Impact on Ethanolat Seeking Alpha(Mon, Oct 4)
Recall VITA acting up this week / since fda approval monday.....focus on weakness...
TRYF pay attention to pullback support at .07....Among most volatile penny mentions
1-2
PEIX
Pacific Ethanol, Inc. Closes Previously Announced Purchase, Sale, and Financing Transactions GlobeNewswire Thu 8:30AM EDT
Under 1
COIN
Converted Organics Announces First TerraSphere Spinach Crop Shipped to Choices Markets GlobeNewswire Thu 8:30AM EDT
Recall GNVC pickup yesterday, although gave back most.....
Pennies:
WDRP.PK
Wanderport Selects Engineering Partner for Completion of Its Microwave Energy Tank-Less Water Heater Prototype Marketwire Thu 8:00AM EDT
VKNG.OB
Viking Systems Launches Next Generation 3DHD at ACS GlobeNewswire Thu 7:00AM EDT
DKAM.OB
Drinks Americas Rheingold Beer Hits Key Retail Accounts in New Jersey GlobeNewswire Thu 7:00AM EDT
BLOKA chart has been interesting since filing bankruptcy over a week ago......among most volatile
BLOKA.PK
Blockbuster Scores Deal With Universal at TheStreet.com Wed, Oct 6
Recall mentioning HEME 70% pullback this week.....was a better leveling out chart yesterday vs tuesday....Notice at levels where it supported prior to two week strength......Will be observing mid morning footing a little closer....Interesting article that might have propelled the steepness of the pullback earlier in the week....
New York Longshoremen Trafficked Cocaine And Used Money To Drive Stock Pump-And-DumpSilicon Alley Insider(Wed, Oct 6)
Efan: JOBS: Recall my rec on JOBS. Buy on any dip. This thing is to the moon.
ryall12
14 years ago
ok so the support of 1.70 didnt 'crumble' but hey my date was pretty dead on no? i said 15th and it was the 17th, too bad i was on vacation and missed it.
yes not earth shattering but not bad either a nice 10-20%.
the bad news is the daily is now overextended and fighting a monthly line. either it stays in that scary power zone and fights through, more news would help, or it resets.
now this could be a flat consolidation between 2 and 2.10, maybe even down to 1.90 or up to 2.20 or so on occasion but not close. or it could fall back to support at 1.75 or so before being ready to test again. tough to say.
news, weekly, and monthly chart are on its side though. if i was in, i might take some profits. that break of 2.02 was big and a nice close. if it can break 2.10 early next week this is a keeper, if not its back to a watcher but a much closer watcher.
breaking 2.10 gives more support for a consolidation move. the target would be around 2.75 or 3.20 when the daily shows up again. possible pause around 2.50
looks good here though.
Pennyland
14 years ago
Orthovita Notes Publication by The Lancet of Study Demonstrating Efficacy of Vertebroplasty vs. Conservative Treatment
2010-08-11 15:01 CT - News Release
* First large multicenter prospective study comparing efficacy of vertebroplasty to optimized conservative care in the treatment of acute vertebral compression fractures
* In the 202-patient randomized study, vertebroplasty resulted in greater pain relief than conservative treatment at all timepoints
* No serious complications or adverse events were reported
Company Website: http://www.orthovita.com
MALVERN, Pa. -- (Business Wire)
Orthovita, Inc. (NASDAQ: VITA), an orthobiologics and biosurgery company, notes that the August 10, 2010 online edition of The Lancet includes the largest peer-reviewed study to date demonstrating the efficacy of vertebroplasty in the treatment of acute vertebral compression fractures compared to conservative treatment. The article, titled “Vertebroplasty versus conservative treatment in acute osteoporotic vertebral compression fractures (Vertos II): an open label randomised trial,” was authored by Drs. Klazen and Lohle et al and described the methods and findings of a 202-patient study conducted in the Netherlands and Belgium between October 1, 2005 and June 30, 2008.
Vertebroplasty is a minimally invasive procedure involving the percutaneous injection of bone cement into a fractured vertebral body, effectively reducing pain. Orthovita received FDA clearance in June 2009 for Cortoss™ Bone Augmentation Material, a synthetic biomaterial, for use in vertebroplasty as an alternative to polymethylmethacrylate (PMMA) bone cement. Although PMMA and not Cortoss was used in the Vertos II study, in a 256-patient IDE vertebral augmentation study submitted to the FDA, Cortoss demonstrated non-inferiority to PMMA and statistically significant superiority in pain relief at 3 months and mobility at 24 months. In August 2009, the New England Journal of Medicine published two studies which seemed to indicate that a “sham” procedure and vertebroplasty were equally effective. According to the Vertos II investigators, the clinical interpretation of the NEJM studies is thwarted by the inclusion of patients with subacute and chronic fractures instead of acute fractures, and other methodological issues. The stated intention of the investigators in the Vertos II study was therefore “to clarify whether percutaneous vertebroplasty has additional value compared with optimum pain treatment in a well defined group of patients with acute vertebral compression fractures.”
The Vertos II study randomized 202 elderly patients with acute painful vertebral fractures who were treated with either vertebroplasty or conservative care and followed for one year. Conservative care included optimized analgesic regimens, bed rest and physical therapy. According to the authors, “Decrease in VAS score after vertebroplasty was significantly higher than with conservative treatment at all timepoints.” In addition, the vertebroplasty patients, who had significantly more disability and lower quality of life scores at baseline, showed significantly faster and greater improvements than conservatively treated patients for these parameters. The authors concluded that, “Pain relief after the procedure is immediate, sustained for 1 year, and is significantly better than that achieved with conservative treatment and at acceptable costs.” No serious complications or adverse events were reported in the study.
“Contrary to the conclusions published in the NEJM, the results of the Vertos II study show that vertebroplasty is an effective treatment of acute painful osteoporotic fractures in properly selected patients. Important differences between the studies are both the degree of pain and the number of weeks or months that the patients needed to be in pain before being considered for treatment,” said Dr. Maarten Persenaire, Chief Medical Officer of Orthovita. “One of the strengths of the Vertos II study is its applicability in routine care where patients with acute pain first undergo imaging and other tests to diagnose the cause and assess their overall state of health. By the time all results necessary for treatment selection have been received, about half of patients with fractures may have improved enough to warrant continued conservative measures. The study shows the remaining patients stand to gain significant benefits from vertebroplasty.”
About the Company
Orthovita, Inc. is a specialty spine and orthopedic company with a portfolio of orthobiologic and biosurgery products. Our products are based on novel and unique proprietary biomaterials that have innovative mechanisms of action in the body. Our orthobiologic platform offers products for the fusion, regeneration and fixation of human bone. Our biosurgery platform offers products for controlling intra-operative bleeding, also known as hemostasis. Our current fusion and regeneration products are based on our proprietary VitossTM Bone Graft Substitute technology and address the non-structural bone graft market with synthetic, bioactive alternatives to patient- and cadaver-derived bone tissue. CortossTM Bone Augmentation Material, an injectable, polymer composite that mimics the structural characteristics of human bone, provides the basis for our fixation portfolio. Our hemostasis portfolio includes VitagelTM Surgical Hemostat, a proprietary, collagen-based matrix that controls bleeding and facilitates healing, and Vitasure™ Absorbable Hemostat, a plant-based product that can be deployed quickly throughout surgery.
Disclosure Notice
This press release may contain forward-looking statements regarding Orthovita’s current expectations of future events that involve risks and uncertainties, including, without limitation, the demand and market acceptance of our products, and other aspects of our business. Such statements are based on management’s current expectations and are subject to a number of substantial risks and uncertainties that could cause actual results or timeliness to differ materially from those addressed in the forward-looking statements.Factors that may cause such a difference are listed from time to time in reports filed by the Company with the U.S. Securities and Exchange Commission (SEC), including but not limited to risks described in our most recently filed Form 10-K under the caption "Risk Factors.”Further information about these and other relevant risks and uncertainties may be found in Orthovita’s filings with the SEC, all of which are available from the SEC as well as other sources. Orthovita undertakes no obligation to publicly update any forward-looking statements.
Contacts:
Orthovita, Inc.
Nancy C. Broadbent
Senior Vice President and
Chief Financial Officer
610-640-1775 or 800-676-8482
Source: Orthovita, Inc.
surf1944
14 years ago
7:32AM Orthovita reports Q1 product sales increased 11% y/y (VITA) 4.66 : Co announced that product sales for the first quarter of 2010 were $24.1 mln, an 11% increase over product sales of $21.7 mln in the first quarter of 2009. Product sales for the quarter ended March 31, 2010 included $1.1 mln from the sale of Vitomatrix, a bone graft material used in dental products, and $900,000 from U.S. sales of Cortoss, the co's novel synthetic biomaterial that was cleared by the FDA in June 2009 for the treatment of vertebral compression fractures, and Aliquot, the Company's Cortoss delivery device. There were no Vitomatrix or U.S. Cortoss sales in the first quarter of 2009. The $1.1 mln in Vitomatrix sales occurred in March 2010 as part of an agreement to terminate our supply agreement for this product.
moneytalksbswalks
16 years ago
Press Release Source: Orthovita, Inc.
Orthovita to Present at the Needham & Company, LLC Seventh Annual Biotechnology and Medical Technology Conference
Tuesday June 3, 5:00 pm ET
MALVERN, Pa.--(BUSINESS WIRE)--Orthovita, Inc. (NASDAQ:VITA - News), a spine and orthopedic biosurgery company, announced today that it will present at the Needham & Company, LLC Seventh Annual Biotechnology and Medical Technology Conference in New York. Antony Koblish, chief executive officer of Orthovita, is scheduled to present on Thursday, June 12th, at 2:30 p.m. Eastern Time, at The New York Palace Hotel, 455 Madison Avenue, New York, NY. A live audio webcast of the presentation will be available, and can be accessed for 90 days following the conference, by visiting http://www.wsw.com/webcast/needham25/vita.
alien42
17 years ago
"Orthovita in Conjunction with Canaccord Adams will Conduct an Institutional Investors Meeting on Thursday, June 14th, in Chicago
Orthovita, Inc. (NASDAQ:VITA), a spine and orthopedic biosurgery company, announced today that it will conduct an institutional investor meeting in conjunction with Canaccord Adams, Inc. on Thursday, June 14th, 2007 in Chicago, IL. Antony Koblish, president and chief executive officer of Orthovita, Albert J. Pavucek, Jr., Chief Financial Officer, and several members of Orthovita’s management team will present at the meeting scheduled from 1:00 p.m. to 5:00 p.m. Central Time, in the Washington Room of The Sears Tower, 233 South Wacker Drive, Chicago, IL. William J. Plovanic, CFA, managing director, equity research from Canaccord Adams will be co-hosting the meeting.
In addition, the meeting will feature guest speaker H. Paul Hatten, Jr., M.D., from Indian River Radiology of Vero Beach, Florida, who will give a presentation entitled “Treatment of Osteoporotic VCF with CORTOSS®: Preliminary Results and Biomechanical Considerations from the First Prospective Trial at a Single Institution”, at approximately 2:00 p.m. and will cover part of a prospective randomized controlled study being conducted under an FDA Investigational Device Exemption (IDE). The study assesses the safety and efficacy of Orthovita’s CORTOSS compared to commercially available PMMA bone cements in osteoporotic compression fractures of the vertebra(e). A total of 256 patients have been enrolled at 19 sites using a 2:1 randomization with 162 patients assigned to CORTOSS and 94 patients assigned to PMMA. Dr. Hatten is one of the 19 clinical sites involved in the FDA Investigational Device Exemption (IDE) study and will cover part of a prospective randomized controlled study being conducted under an FDA IDE study. At the Indian River Radiology site, 57 patients have been enrolled; 36 treated using CORTOSS and 21 treated using PMMA bone cement."
alien42
17 years ago
"Orthovita Announces Podium Presentation of CORTOSS(R) for the Treatment of Vertebral Compression Fractures - Vertebral Augmentation to be Presented at the American Society of Neuroradiology (ASNR) Meeting in Chicago"
"Prospective Randomized Pivotal Trial of CORTOSS versus PMMA In the Treatment of Vertebral Compression Fractures;
Preliminary Results at a Single Institution in 57 Patients
Orthovita, Inc. (NASDAQ: VITA), a spine and biosurgery company, reported that H. Paul Hatten, Jr., M.D., from Vero Beach, Florida, will give a presentation entitled “Treatment of Osteoporotic VCF with CORTOSS®: Preliminary Results and Biomechanical Considerations from the First Prospective Trial at a Single Institution”, at the American Society of Neuroradiology (ASNR) meeting being held in Chicago, IL on Thursday June 14, 2007.
The podium presentation is on Thursday June 14, at 11:43 a.m. in Room Columbus I-L of the Hyatt Regency and will cover part of a prospective randomized controlled study being conducted under an FDA Investigational Device Exemption (IDE). The study assesses the safety and efficacy of CORTOSS compared to commercially available PMMA bone cements in osteoporotic compression fractures of the vertebra(e). A total of 256 patients have been enrolled at 19 sites using a 2:1 randomization with 162 patients assigned to CORTOSS and 94 patients assigned to PMMA. Patients are evaluated at pre-op, post-op, 72 hours, 1 week, 1, 3, 6, 12, and 24 months. Patient outcomes are assessed over time with the use of the Visual Analogue pain Scale (VAS), the Oswestry Disability Index (ODI), and the SF-12. Furthermore, maintenance of height and alignment of the level(s) treated are also monitored over time. Among the inclusion criteria are a minimum VAS pain score of 50/100, a minimum ODI score of 30% caused by recent (an) osteoporotic compression fracture(s) at one or two levels as evidenced by the presence of edema on MRI or bone scan. Exclusion criteria include greater than 70% vertebral collapse, spinal canal compromise, neurologic deficit at the level (s) to be treated, or tumors. Post-operative CT and radiographs are used to assess and quantify leakage. The results reported on this week were collected by Dr. Hatten at Indian River Radiology of Vero Beach, Florida, one of the 19 clinical sites involved in this IDE study.
At the Indian River Radiology site, 57 patients have been enrolled; 36 treated using CORTOSS and 21 treated using PMMA bone cement. The most striking difference between CORTOSS and PMMA seen in this subset of the larger IDE study is that the average volume of material injected per vertebra was 1.17 cc for CORTOSS and 2.41 cc for PMMA treated group.
“These preliminary results suggest that CORTOSS may provide similar pain relief compared to PMMA bone cement with approximately 50% less material,” said Dr. Hatten. “This may be due to the distinct interdigitated trabecular fill pattern obtained with CORTOSS, as opposed to the more homogenous “ball-like” fill seen with PMMA. This difference in fill pattern has the potential to reduce the risk of leakage. Early laboratory investigations also indicate that this fill pattern in combination with CORTOSS’ strength may result in a more favorable biomechanical environment.”
There are an estimated 700,000 osteoporotic vertebral compression fractures in the United States each year. Orthovita believes that the CORTOSS clinical study is the most rigorous trial ever enrolled for vertebral compression fractures of the spine. The prospective, randomized study protocol was developed in accordance with the FDA’s vertebral compression fracture guidance document.
CORTOSS has CE Certification for use in the European Union for screw augmentation and for vertebral augmentation. This enables CORTOSS to be sold in the European Union as well as in other countries that have adopted the European Union’s regulatory standards. CORTOSS is not available for sale in the United States and is limited to investigational use."
Register for real-time alerts, custom portfolio, and market movers
Hot Features
Premium
