7D Surgical Archives - Medical Design Sourcing

Seaspine rises after hours on Street-beating Q1

SeaSpine (NSDQ:SPNE) shares ticked up after hours today on first-quarter results that beat the consensus forecast.

The Carlsbad, Calif.-based company posted losses of -12.7 million, or -46¢ per share, on sales of $42 million for the three months ended March 31, 2021, for a -1.3% bottom-line slide on sales growth of 16.2%.

Adjusted to exclude one-time items, losses per share were -18¢, 16¢ ahead of Wall Street, where analysts were looking for sales of $40.3 million.

“We were pleased with revenue acceleration as the first quarter progressed,” SeaSpine president & CEO Keith Valentine said in a news release. “Despite the headwinds we faced in January and early February due to COVID restrictions on spine surgeries, we exceeded our own internal expectations for the quarter with strong results in March as those restrictions eased.

With more robust spine surgery volumes anticipated as we continue to emerge from the COVID pandemic, the anticipated cont…

SeaSpine prices $87.8M offering

SeaSpine (NSDQ:SPNE) announced that it priced an underwritten public offering worth proceeds of approximately $87.8 million.

Carlsbad, Calif.-based SeaSpine is offering 4.5 million shares of its common stock at a public offering price of $19.50 per share, leading to the $87.8 million expected in proceeds before deducting discounts, commissions and other expenses, according to a news release.

The company also granted underwriters a 30-day option to purchase up to an additional 675,000 shares at the public offering price. The offering is expected to close on or about April 20, 2021.

SeaSpine plans to use the proceeds from the offering, along with existing cash and cash equivalents, to finance the cash consideration of $27.5 million for its $110 million acquisition of 7D Surgical, which the company announced last month. The offering is not conditioned upon the closing of the acquisition.

Other uses for the proceeds include working capital nad other g…

MedTech 100 roundup: Slight rise for the industry

While medtech’s performance still isn’t mirroring the beginning of 2021, the industry is showing signs of life with a small improvement last week.

The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the index hitting its lowest recent point on March 8 (102.16), marking a fall at a level not seen since October.

Even after a slight rise earlier this month, the index struggled again two weeks ago with another small dip. However, after coming in at 104.05 on March 19, the index got a slight boost over the past week, finishing at 104.87 on March 26, representing a 0.8% rise.

Despite the up-and-down nature of the past couple of months, the index represents a much better situation for the industry compared to this time a year ago when the COVID-19 pandemic was in full swing. The index is up 13.6% from its pre-p…

SeaSpine to buy 7D Surgical for $110M

Spine surgery tech company SeaSpine Holdings (NASDAQ: SPNE) has agreed to acquire privately-held 7D Surgical for $110 million.

The planned merger, announced March 22, comes more than a year after SeaSpine entered into a strategic alliance agreement to distribute Toronto-based 7D Surgical’s flagship navigational system.

7D Surgical has developed and commercialized advanced machine-vision-based registration algorithms to improve surgical workflow and patient care, with applications in spine and cranial surgeries. The 7D system can complete the entire patient registration process in less than 30 seconds, versus the 30 minutes typical with traditional systems, according to the companies.

“We believe that participation in the patient’s complete continuum of care, coupled with an industry-leading safety profile for the surgeon, the surgical support team, and the patient, will accelerate our market-share-taking strategy. As we know, surgeons can reach the…

7D Surgical wins CE mark for image guided spinal surgery system

7D Surgical received CE mark certification for its Machine-vision Image Guided Surgery system for spinal surgery.

The MvIGS system is an image-guided system that uses camera-based technology and machine-vision algorithms. The spine navigation system uses visible light to allow spine surgeons to perform spinal registration in seconds.

“We are extremely excited to achieve our CE Mark. With successful launches already underway in the United States, Canada, Australia, New Zealand and the Caribbean, we are eager to begin expanding the MvIGS technology into the European spine market,” CEO Beau Standish said in a news release. “We are very proud of our team for accomplishing this important milestone and we are continuing our growth and expansion into international markets.”

The technology uses 7D Surgical’s Flash Registration and Flash Fix technology to offer segmental registration. It allows each vertebral body to be registered in…

20 medical device startups you need to know

The medtech industry isn’t immune from COVID-19 troubles, but exciting innovation continues. These 20 medical device startups have grabbed our attention.

Tom Salemi, DeviceTalks Editorial Director and Sean Whooley, Assistant Editor

A number of medical device startups continue to make waves across the space, with new technologies and eye-watering fundraising rounds highlighting some exciting prospects.

From treating children with congenital heart disease to therapy that alleviates the effects of traumatic nightmares — and with plenty more innovations between — there is no shortage of intriguing medical devices and therapies coming up through the ranks.

“Even in the face of the COVID-19 pandemic, we continue to see tremendous energy in the medtech innovation ecosystem,” said Paul Grand, CEO of MedTech Innovator. “We are noticing a strong trend of minimally invasive medical devices that improve patient outcomes and require less time spent in th…

20 medical device startups you need to know

The medtech industry isn’t immune from COVID-19 troubles, but exciting innovation continues. These 20 medical device startups have grabbed our attention.

Tom Salemi, DeviceTalks Editorial Director and Sean Whooley, Assistant Editor

A number of medical device startups continue to make waves across the space, with new technologies and eye-watering fundraising rounds highlighting some exciting prospects.

From treating children with congenital heart disease to therapy that alleviates the effects of traumatic nightmares — and with plenty more innovations between — there is no shortage of intriguing medical devices and therapies coming up through the ranks.

“Even in the face of the COVID-19 pandemic, we continue to see tremendous energy in the medtech innovation ecosystem,” said Paul Grand, CEO of MedTech Innovator. “We are noticing a strong trend of minimally invasive medical devices that improve patient outcomes and require less time spent in th…