Conformis rises on in-line Q2 results

Conformis (Nasdaq:CFMS) this week posted second-quarter results that were in line with the consensus on Wall Street.

The Billerica, Massachusetts-based orthopedic purveyor reported losses of $15.52 million, or -9¢ per share, on sales of $15.14 million for the three months ended June 30, for a bottom-line loss compared to net income of $38 million in Q2 2021.

Earnings per share were 1¢ behind The Street, where analysts were looking for sales of $15.15 million.

“Our second quarter results show signs that we are on the right long-term path. We were in line with our revenue expectations for the quarter and continued to grow our Imprint case volume. The recent signing of our first national agreement for our new Platinum Services Program highlights that our portfolio shift is taking hold,” President and CEO Mark Augusti said in a news release.

“Like many companies, we continue to deal with macro-economic and supply chain challenges that have…

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Conformis posts mixed bag Q1 results, grows sales 12%

Conformis (Nasdaq:CFMS) this week posted first-quarter results that beat the revenue consensus on Wall Street but missed earnings estimates.

The Billerica, Massachusetts-based orthopedic device maker reported losses of $16 million, or -9¢ per share, on sales of $15.6 million for three months ended March 31, for a sales growth of 12.4% compared with Q1 2021.

Earnings per share were 2¢ behind The Street, where analysts were looking for sales of $14.01 million.

“We had another good quarter of progress on our Imprint and Platinum Services rollouts. Surgeon interest and feedback continue to be favorable and we are positioned well to benefit as elective arthroplasty procedure recovery takes hold in hospitals and ASC’s over the coming quarters. Traction on our topline and recovery of procedural levels will benefit our gross margins, which have been under pressure the past two quarters. We are acting decisively to reverse this trend and get back to our expected …

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Conformis announces a credit card partnership

Conformis (Nasdaq:CFMS) officials are betting that a special credit card could get more people to opt for upgraded orthopedic surgeries.

The Billerica, Massachusetts–based ortho surgery tech company at AAOS 2022 today announced a partnership with Synchrony (NYSE:SYF) to add Conformis’ Image-to-Implant Platinum Services program to Synchrony’s CareCredit credit card offering.

More than 250,000 providers and health-focused retail locations, including 20 health systems, accept the CareCredit card, according to Conformis and Synchrony. There are more than 11 million cardholder accounts.

People selecting a fully personalized Conformis implant could gain more access to flexible payment options through the partnership. Synchrony says the card includes special financing options geared toward people who need to handle out-of-pocket medical costs.

“Increasingly, patients undergoing orthopedic care, such as joint replacement, are choosing upgraded servi…

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Conformis appoints chief legal officer, corporate secretary

Conformis (NSDQ:CFMS) this week announced that Denise Pedulla was appointed chief legal officer and corporate secretary.

Prior to joining the Billerica, Massachusetts-based company, Pedulla served as the general counsel and corporate secretary for NeoGenomics. She has also held numerous leadership roles at Berkeley Research Group, Orthofix and Fresenius Medical Care.

“We are pleased to announce the addition of Denise Pedulla as chief legal officer and corporate secretary. Her strong public company experience and leadership capabilities will help support our growth strategy and further strengthen our executive team,” president and CEO Mark Augusti said in a news release. “I look forward to the contributions she will make as a member of the Conformis team.”

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How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]

Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Get the full running list of life science companies and their efforts on Medical Design & Outsourcing.

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How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Get the full running list of life science companies and their efforts on Medical Design & Outsourcing.

Read more
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How medtech and pharma are responding to Russia’s invasion of Ukraine

[Image from Pixabay]

Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion.

Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients. Medical device and pharmaceutical companies have taken various actions for support efforts, ranging from matching employee contributions and sending supplies to suspending operations in the region.

Below is a running list of life science companies and their efforts. This is a developing story and will be updated as companies release information.

3M: Suspending all business in Russia.

Abbott: Donating $2 million to humanitarian organizations to support Ukraine and refugees; donating …

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Conformis misses on Q4 projections, expects omicron-related disruptions

Conformis (NSDQ:CFMS) shares were slightly up today on fourth-quarter results that missed the consensus forecast.

The Billerica, Massachusetts-based company posted losses of nearly $16 million, or 9¢ per share, on sales of $15.3 million for the three months ended Dec. 31, 2021, for a large bottom-line slide deeper into the red on a sales decline of 7.6%.

Conformis’ losses per share of 9¢ fell 2¢ shy of expectations on Wall Street, where analysts were looking for sales of $15.6 million.

The company recently launched its Platinum Services Program, which represents a first in orthopedics and aims to complement the Imprint knee system, which Conformis expects will advance to full market release later this year.

“With all of the recent development initiatives in place as we head into 2022, we are poised for growth,” Conformis CEO Mark Augusti said in a news release. “The pace of our growth will likely correlate to how fast medic…

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World Health Organization sending 36 metric tons of medical supplies to Ukraine

Photo by Yehor Milohrodskyi on Unsplash

The World Health Organization today said that it is sending more than 36 metric tons of medical supplies to support the humanitarian emergency in Ukraine following Russia’s invasion last week.

WHO Director-General Tedros Adhanom Ghebreyesus said the organization is sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients.

“Prior to the conflict, WHO distributed emergency supplies to 23 hospitals, although our prepositioned supplies in Kyiv are currently inaccessible,” Ghebreyesus said in a press briefing. “There is an urgent need to establish a corridor to ensure humanitarian workers and supplies have safe and continuous access to reach people in need.”

Get the full story on our sister site, Medical Design & Outsourcing.

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World Health Organization sending 36 metric tons of medical supplies to Ukraine

Photo by Yehor Milohrodskyi on Unsplash

The World Health Organization today said that it is sending more than 36 metric tons of medical supplies to support the humanitarian emergency in Ukraine following Russia’s invasion last week.

WHO Director-General Tedros Adhanom Ghebreyesus said the organization is sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than 150,000 patients.

“Prior to the conflict, WHO distributed emergency supplies to 23 hospitals, although our prepositioned supplies in Kyiv are currently inaccessible,” Ghebreyesus said in a press briefing. “There is an urgent need to establish a corridor to ensure humanitarian workers and supplies have safe and continuous access to reach people in need.”

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Conformis launches Image-to-Implant Platinum Services program, provides financial update

Conformis (NSDQ:CFMS) today provided a business update introducing its new Image-to-Implant Platinum Services program to investors.

Billerica, Massachusetts-based Conformis aims for its new Image-to-Implant Platinum Services program to give patients an opportunity to upgrade to a fully-personalized Identity knee system through the payment of an incremental deluxe services fee.

According to a news release, the company’s program, new to orthopedics, seeks to address the demands of the healthcare market where by patients are increasingly willing to pay a premium for personalized treatment offerings. Conformis said the approach enables participating medical facilities to establish and offer patients an out-of-pocket upgrade to obtain the Identity knee system.

The program will be rolled out to Conformis’ existing customer base by Sept. 1, 2022.

“Although new to orthopedics, this concept is not new to healthcare,” Conformis President &…

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Conformis could face Nasdaq delisting

Conformis (NSDQ:CFMS) announced today that it is not in compliance with the minimum bid price requirement for continued Nasdaq listing.

The company received a letter from Nasdaq on Dec. 31, 2021, notifying it that the closing bid price for its common stock had been below $1 for the previous 30 consecutive business days, meaning Conformis is not in compliance with the requirement for continued inclusion on the market.

According to a news release, the notification has no immediate effect on the listing of the Billerica, Massachusetts-based company’s common stock on the Nasdaq market.

Under the Nasdaq rules, Conformis has 180 calendar days to regain compliance by having its common stock trade at $1 or higher for a minimum of 10 consecutive business days. If the company does not regain compliance by June 29, 2022, it may be eligible for an additional 180 calendar days if it meets the continued listing requirement for the market value of publicly held s…

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