ZimVie Archives - Medical Design Sourcing

Former ZimVie exec Rebecca Whitney named CEO of Highridge Medical

Highridge Medical this week announced it appointed Rebecca Whitney as CEO, effective immediately.

Whitney will join the company’s board of directors as part of the appointment. Former CEO Glen Kashuba will transition to CEO of EBI.

Highridge Medical and EBI are portfolio companies of HIG Capital, which earlier this month acquired ZimVie’s spine and EBI Bone Healing businesses. Upon completing the acquisition, former ZimVie Global Spine President Whitney was slated to continue as president of the spine business at Highridge Medical.

“I am excited that Rebecca will now take the helm as CEO of Highridge. Her proven leadership, vision, and unwavering commitment to excellence are the driving forces that will propel Highridge into a promising future,” Highridge Executive Chair Eric Major said in a LinkedIn post. “I am confident that Rebecca will champion innovation and growth.”

Highridge Medical designs and commercial…

How GLP-1s tanked and reshaped the medtech stock market in 2023

Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.

[Image courtesy of Nick Chong on Unsplash]In a tumultuous year for the medtech industry, promising clinical trial results on glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years.

While analysts said the medtech stock market performed well in 2023 – driven by strong market growth from the backlog of procedures that built up during the pandemic and more innovation and new product launches from companies – the fear of GLP-1s prevailed among investors, sending medtech stocks down significantly in the second half of the year, even as top executives sought to allay concerns.

The specter of GLP-1s such as Novo Nordisk’s Wegovy and Ozempic loomed large, casting doubt on medtech’s future trajectory at the end of the year. However, the stocks have almost fully recovered since then. Analysts predict a rebound in 2024, with diminishing head…

ZimVie to sell spine business, become pure-play dental company

ZimVie (Nasdaq: ZIMV) + announced today that it agreed to sell its spine business to investment firm H.I.G. Capital.

Shares of ZIMV skyrocketed before the market opened on the back of the announcement, rising 23% to $13.80 apiece. They continued to rise as the market opened, jumping 42% to $15.93 apiece.

The sale of the business, valued at $375 million, establishes ZimVie as a pure-play dental company. Westminster, Colorado-based ZimVie spun out of Zimmer Biomet nearly two years ago as a combination of the orthopedic giant’s spine and dental units.

Under the terms of the agreement, ZimVie will receive $375 million in total consideration, including $315 million in cash. The remaining $60 million comes in the form of a promissory note that accrues interest at a rate of 10% per annum. ZimVie’s board of directors approved the transaction and expects it to close in the first half of 2024.

The compa…

FDA clears ZimVie and Brainlab spinal fixation combo

The Vital spinal fixation system [Image courtesy of ZimVie]ZimVie (Nasdaq: ZIMV) + announced today that the FDA has cleared the use of its Vital spinal fixation system with Brainlab’s Spine & Trauma Navigation.

The news comes just nine months after the companies announced a partnership in which Brainlab will provide spine imaging, planning, navigation, and robotic-assisted systems for use with ZimVie implants. The goal is to enable surgeons to better plan and execute spinal procedures, accurately place pedicle screws, and minimize radiation exposure.

“This is a positive milestone for both teams and the first of what we hope will be many FDA clearances for compatibility. The strong collaboration between our organizations resulted in an expedited project timeline,” Rebecca Whitney, global president of ZimVie Spine, said in a news release. “We have been focused on expanding our portfolio with enabling technologies to dri…

How ZimVie’s spine business is setting itself up for future success

Rebecca Whitney, ZimVie’s SVP and global spine president [Image courtesy of ZimVie]

Nearly two years after ZimVie spun out of Zimmer Biomet, SVP and Global Spine President Rebecca Whitney says the spine business’ transformation is nearly complete.

A new FDA clearance allows for the use of ZimVie’s Vital spinal fixation system with Brainlab’s Spine & Trauma Navigation. It’s an important milestone as ZimVie seeks to compete against Medtronic’s Mazor spine surgery robots.

The partnership — announced in March 2023 — is about each company doing what it does best. While ZimVie has a deep legacy and scope when it comes to spine implants, Brainlab has spine imaging, planning, navigation, and robotic-assisted systems to enable surgeons to better plan and execute spinal procedures, accurately place pedicle screws, and minimize radiation exposure. In a recent interview with Medical Design & Outsourcing, …

ZimVie beats The Street in Q3, ups back end of guidance

ZimVie (Nasdaq: ZIMV) + shares ticked up this morning on third-quarter results that topped the consensus forecast.

Shares of ZIMV rose 1% at $6.80 apiece just after the market opened today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — ticked up 1.1%.

The (LOCATION)-based company posted losses of $5.1 million in the quarter. That equals 19¢ per share on sales of $202.9 million for the three months ended Sept. 30, 2023.

ZimVie recorded a nearly $6 million bottom-line slide into the red on a sales decline of 4.9%.

Adjusted to exclude one-time items, earnings per share came in at 8¢. That landed 10¢ ahead of expectations on Wall Street. ZimVie also posted a revenue beat as analysts forecast sales of $198.5 million.

The company reported third-party spine sales decreasing by nearly 10% year-over-year. It attributed that dip to compet…

First U.S. procedure performed with ZimVie 4.5mm Mobi-C device

The Mobi-C cervical disc. [Image courtesy of ZimVie]ZimVie (Nasdaq: ZIMV) + announced today that the first U.S. patient received its new 4.5mm Mobi-C cervical disc.

Mobi-C became the first cervical disc approved for one and two levels by the FDA in 2013. Ten years later, in August of this year, ZimVie picked up FDA approval for a smaller height for the device. The updated 4.5mm Mobi-C comes in seven footprints to match patient anatomy.

Dr. Gregory D. Lopez of Midwest Orthopaedics at Rush in Chicago implanted the first of these devices in the U.S. on Oct. 30.

“The 59-year-old patient presented with a significantly collapsed C5-6 disc, and the new lower profile Mobi-C implant allowed me to avoid over-distracting the facet joints,” Lopez said in a news release. “The 4.5mm height Mobi-C makes it possible for me to offer pain relief and motion preservation to more of my patients with cervical disc degenerati…

FDA grants IDE for ZimVie Mobi-C hybrid arthroplasty, fusion study

The Mobi-C cervical disc. [Image courtesy of ZimVie]ZimVie (Nasdaq: ZIMV) + announced today that it received FDA investigational device exemption (IDE) to conduct a study of its Mobi-C.

The study evaluates the Mobi-C cervical disc in hybrid use. Patients in the study receive simultaneous cervical disc arthroplasty (CDA) and anterior cervical discectomy and fusion (ACDF) at adjacent levels between C3 and C7. ZimVie says the hybrid construct — where disc replacement and fusion occur in one surgery — can represent the best two-level treatment. The company says it provides a clinical benefit to patients and surgeons, plus economic benefit to stakeholders.

Mobi-C initially received FDA approval for one and two levels in 2013. Surgeons have implanted more than 200,000 Mobi-C implants for cervical disc replacement since 2004. Westminster, Colorado-based ZimVie says it remains the market-leading device for cervical disc replaceme…

ZimVie expands development deal with Brainlab to include co-marketing

ZimVie (Nasdaq: ZIMV) + announced today that it expanded its cooperation agreement with Brainlab.

Brainlab offers a diversified spine imaging, planning and navigation portfolio. It also provides robotic imaging, surgical assistance and mixed reality to support spinal surgeries.

Westminster, Colorado-based ZimVie and Brainlab undertook a joint project to achieve compatibility between technologies. It aims to combine ZimVie’s Vital and Virage fixation systems with Brainlab’s spine and trauma navigation technologies. These help surgeons plan and execute spinal procedures, accurately place pedicle screws and minimize radiation exposure.

Additionally, ZimVie intends to co-market the Brainlab spine and trauma navigation technologies alongside its existing spine implant solutions.

“We are excited to partner with Brainlab to bring into the operating room differentiated technology aiming at enhancing w…

The 10 largest orthopedic device companies in the world

The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker]

Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year.

Stryker and Zimmer Biomet both upped their 2023 guidance during recent earnings calls, a sign that orthopedic procedures are bouncing back from the COVID-19 pandemic.

GlobalData predicted earlier this year that the recovery will lift the ortho devices market to nearly $50 billion this year. The question is whether companies can continue the momentum. Stryker and ZB are betting on innovation, building arrays of products and services around their surgical robotics systems and surgical planning and digital health tools.

During Zimmer Biomet’s second-quarter earnings call, CEO Bryan Hanson noted that ZB has 40 planned product launches between this year and the end of 2025, the …

The 10 largest orthopedic device companies in the world

The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker] Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year.

Stryker (NYSE: SYK) + and Zimmer Biomet (NYSE: ZBH) + both upped their 2023 guidance during recent earnings calls, a sign that orthopedic procedures are bouncing back from the COVID-19 pandemic.

GlobalData predicted earlier this year that the recovery will lift the ortho devices market to nearly $50 billion this year. The question is whether companies can continue the momentum. Stryker and ZB are betting on innovation, building arrays of products and services around their surgical robotics systems and surgical planning and digital health tools.

During Zimmer Biomet’s second-quarter earnings call, CEO Bryan Hanson noted that ZB has 40 planned product …

FDA grants new approval for ZimVie Mobi-C implant, plans U.S. launch in the fall

The Mobi-C cervical disc [Image courtesy of ZimVie]ZimVie (Nasdaq: ZIMV) + announced today that the FDA approved a smaller height of its Mobi-C cervical disc.

The updated approval covers Mobi-C in seven footprints that address the anatomical needs of patients in the U.S. Mobi-C has been used for cervical disc replacement to treat patients in France since 2004. In 2013, it became the first cervical disc approved for one and two contiguous levels by the FDA.

“The approval of the 4.5mm Mobi-C is a win for our surgeons and their patients, as well as a validation of thoughtful strategy by our global regulatory affairs team who utilized real-world clinical evidence gained from EU studies to show long-term safety and efficacy and secure the FDA approval for the smaller disc,” said Rebecca Whitney, global president of ZimVie Spine. “We are pleased to provide surgeons the largest range of footprint and height options in the market…