Wright Medical slides after pricing offering to back Cartiva buyout

Wright Medical (NSDQ:WMGI) shares traded down this morning after it priced an offering it plans to use to fund the $435 million buyout of Cartiva. Wright said it plans to finance the Cartiva purchase, announced yesterday morning, with an equity offering. Alpharetta, Ga.-based Cartiva makes a synthetic cartilage implant for treating arthritis in the big toe. Yesterday afternoon Wright said it plans to float nearly 18.3 million shares at $24.60 apiece, for expected net proceeds of $423 million. Underwritten by J.P. Morgan, the offering is slated to close August 30, Memphis-based Wright said. WMGI shares closed down -4.2% at $26.79 apiece yesterday. In pre-market trading today, the stock was off -4.8% to $25.50 per share. Cartiva won pre-market approval from the FDA for the SCI implant in July 2016 (the device won CE Mark approval in the European Union back in 2002 and is also on the market in Canada, Brazil, Chile and Australia). It’s made of an organic polymer designed to mimic the function of human cartilage. Wright forecast a $35 million top-line contribution from Cartiva this year, assuming the purchase closes as expected during the fourth quarter, and $47 million in 2019. The company also raised its sales outlook for the rest of the year, saying that it now expects to post full-year sales, excluding Cartiva, of $812 million to $822 million, up from $808 million to $820 million previously. The post Wright Medical slides after pricing...
Source: Mass Device - Category: Medical Devices Authors: Tags: Funding Roundup Mergers & Acquisitions Orthopedics Wall Street Beat Cartiva Extremities wrightmedical Source Type: news

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CONCLUSIONS This study suggested that the TT genotype and T allele in rs17221959 decreased RA risk. Smoking could decrease the protective effect of TT. PMID: 31316048 [PubMed - in process]
Source: Medical Science Monitor - Category: Research Tags: Med Sci Monit Source Type: research
Knee pain due to arthritis or injury is the second most common cause of chronic pain in the United States. Osteoarthritis affects more than 30 million adults in the United States. And the rate of anterior cruciate ligament (ACL) tears among children and teens has been increasing about 2.3% per year for the past two decades, according to a new study. The specific cause of a patient’s knee pain has always been difficult to determine because diagnostic tools such as x-ray or MRI only image the joint in a static standing or lying down position, not in motion when the patient is feeling pain. â€...
Source: MDDI - Category: Medical Devices Authors: Tags: Orthopedics Source Type: news
Authors: Dalal A PMID: 31315345 [PubMed - in process]
Source: Journal of the Association of Physicians of India - Category: General Medicine Tags: J Assoc Physicians India Source Type: research
Authors: Jagdish RK, Shailly, Bhatnagar MK PMID: 31315331 [PubMed - in process]
Source: Journal of the Association of Physicians of India - Category: General Medicine Tags: J Assoc Physicians India Source Type: research
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Source: Clinical Rheumatology - Category: Rheumatology Source Type: research
Conclusions: These findings demonstrate that: 1) TNF-Tg mice display a restrictive pathology, and 2) in vivo µCT is a valid outcome measure to infer changes in pulmonary mechanical and functional parameters. PMID: 31318607 [PubMed - as supplied by publisher]
Source: Experimental Lung Research - Category: Respiratory Medicine Tags: Exp Lung Res Source Type: research
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Source: Biologicals - Category: Biology Source Type: research
Publication date: Available online 18 July 2019Source: Arthroscopy TechniquesAuthor(s): G. Klaud MillerAbstractThe barrel vault tibial osteotomy performed for knee varus osteoarthritis avoids the complications of the opening wedge osteotomy and minimizes the potential complications of the lateral closing wedge osteotomy. It allows correction of large varus deformities in knee medial compartment osteoarthritis.
Source: Arthroscopy Techniques - Category: Surgery Source Type: research
Conditions:   Knee Arthropathy;   Hip Arthritis;   Fractures, Closed Interventions:   Drug: Fentanyl;   Drug: Remifentanil;   Drug: Clonidine;   Drug: EMLA Cream;   Drug: Placebo iv;   Drug: Placebo salve Sponsor:   Medical University of Graz Recruiting
Source: ClinicalTrials.gov - Category: Research Source Type: clinical trials
Conditions:   Hip Disease;   Hip Fractures;   Hip Injuries;   Hip Arthritis;   Hip Pain Chronic Intervention:   Device: M/L Taper with Kinectiv Technology Stems and Necks Sponsor:   Zimmer Biomet Not yet recruiting
Source: ClinicalTrials.gov - Category: Research Source Type: clinical trials
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