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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.”

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.

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.

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 …

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…

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.

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.”

…

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 &…

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…

Conformis misses with Q3 results

Conformis (NSDQ:CFMS) posted third-quarter results today that missed the consensus forecast on Wall Street.

The Billerica, Massachusetts-based orthopedic medical device company reported a net loss of $13.0 million, or -$0.07 per share, on sales of $14.3 million for the three months ended Sept. 30. The third-quarter net loss grew 110% compared to Q3 2020, while sales declined 12% in that same time.

The results fell short of Wall Street’s expectations, where analysts were looking for a net loss per share of $0.06 on sales of $14.6 million.

“As COVID-19’s Delta variant became more pronounced during the quarter, the impact on elective procedures and our business was greater than expected,” Conformis President and CEO Mark Augusti said in a news release. “This resulted in a number of deferred procedures, many of which have already been rescheduled. The disruption caused by the Delta variant has had minimal effect on the limited market …

Conformis sales grow 189% in Street-beating Q2 results

Conformis (NSDQ:CFMS) posted second-quarter results today that beat the overall consensus on Wall Street.

The Billerica, Mass.-based company reported profits of $38 million, or 21¢ per share, on sales of $56.3 million for the three months ended June 30, for a sales growth of 189.44% compared with Q2 2020.

Earnings per share were 21¢, 17¢ ahead of The Street, where analysts were looking for sales of $33 million.

“We had another steady quarter of progress as we executed our growth strategy. The environment for orthopedic surgical procedures has improved and we believe procedure levels will continue to normalize. We remain cautiously optimistic about the second half of the year as we aim to get back to our 2019 revenue run rate,” president and CEO Mark Augusti said in a news release.

“We continue to make progress with our new product development plans. As part of a limited market release, the first surgery using our patient-specific instr…

MedTech 100 roundup: Industry continues climb

One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark registered a week prior on July 2.

The new high comes in was just 0.21 points ahead of the 114.58-point mark set in April — the industry’s all-time best performance before last week beat it by one point.

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 24.3% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.6% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The positive movement in medtech aligns with an uptick in the overall markets this past week, as the S&P 500 Index ri…