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FDA Proposes Postmarket Surveillance Changes

FDA Proposes Postmarket Surveillance Changes | Wright Medical News | Scoop.it

Establish a UDI system, promote registries, modernize adverse event reporting and develop new methods of evidence generation, are four changes the FDA wants to make to its postmarket surveillance system. Read details here.

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DePuy Accepts Biomet’s Trauma Offer

DePuy Accepts Biomet’s Trauma Offer | Wright Medical News | Scoop.it

Biomet offered $280 million to take DePuy's trauma business off its hands so Johnson & Johnson (DePuy's parent) could to get European clearance to buy Synthes. DePuy has now accepted the offer.

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Former Kyphon Marketing Manager Sentenced to Jail

Former Kyphon Marketing Manager Sentenced to Jail | Wright Medical News | Scoop.it

What gets you sentenced to four years of hard time in orthopedics these days? See what happened to a former Kyphon, Inc., senior marketing manager to find out.

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DePuy Results Show Market Stabilizing

DePuy Results Show Market Stabilizing | Wright Medical News | Scoop.it

Johnson & Johnson's reported sales for the first quarter of 2012 declined by 0.2% to $16.1 billion. The company's Medical Devices and Diagnostics division's sales fell 0.3% to $6.4 billion. Within that division, DePuy Orthopaedics, Inc.’s reported sales dropped 0.7% to $1.493 billion.

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Biomet Pays to Defer Bribery Prosecution

Biomet Pays to Defer Bribery Prosecution | Wright Medical News | Scoop.it

The U.S. Government accused Biomet of bribing surgeons in Argentina, Brazil and China. On March 26, the Justice Department announced a deferred prosecution agreement whereby the company will pay over $20 million in penalties and hire an outside monitor for three years.

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MacMillions for Stryker Separation

MacMillions for Stryker Separation | Wright Medical News | Scoop.it

Stryker Corporation and Stephen MacMillan have agreed to a separation agreement worth millions. He gets severance pay, stock options, extended medical benefits, office space and outplacement services. Read the Separation Agreement here.

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4Q Wright Sales Decline – Remaking Begins

4Q Wright Sales Decline – Remaking Begins | Wright Medical News | Scoop.it

On February 23 Wright Medical Group, Inc. reported a decline of 8% in net sales, to $126.9 million for the fourth quarter of 2011. All major product groups (hips, knees and biologics), with the exception of extremities, showed declines.

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Garen: Wright’s New Compliance Boss

Garen: Wright’s New Compliance Boss | Wright Medical News | Scoop.it

Wright Medical Group, Inc. has induced Daniel Garen to take over the organization's beleaguered compliance program and immediately become Senior Vice President and Chief Compliance Officer of the company.

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Wright Medical Group, Inc. to Host Fourth Quarter 2011 Earnings Conference Call

Wright Medical Group, Inc. to Host Fourth Quarter 2011 Earnings Conference Call | Wright Medical News | Scoop.it

Wright Medical Group, Inc. (NASDAQ: WMGI) today announced that it will host a conference call on Thursday, February 23, 2012 at 3:30 p.m. Central Time to discuss the Company’s operating results for its fourth quarter ended December 31, 2011. Operating results will be released at 3:00 p.m. Central Time that day.

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Zimmer Takes Share in 4Q

Zimmer Takes Share in 4Q | Wright Medical News | Scoop.it

Zimmer Holdings, Inc. reported a 2.9% increase in sales during the fourth quarter. Total sales reached $1.167 billion for the quarter with currency adding 0.5%. For the year, reported sales of $4.45 billion rose 5.5%.

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Stryker Pleads Guilty in OP-1 Trial

Stryker Pleads Guilty in OP-1 Trial | Wright Medical News | Scoop.it

Stryker's misadventure with OP-1 finally comes to an end as the company pleads guilty to misbranding a medical device. The company will pay a $15 million fine. The trials for former sales reps and the biologic division's CEO are scheduled to continue.

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OP-1 Trial Starts in Boston

OP-1 Trial Starts in Boston | Wright Medical News | Scoop.it

On January 12, opening arguments began in Boston at the trial of Stryker Biotech and former company sales reps accused of marketing OP-1 in a mixture with Calstrux, a bone void filler, without FDA approval.

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Do Biomet’s Rising Sales Beckon a New Ortho Dawn?

Do Biomet’s Rising Sales Beckon a New Ortho Dawn? | Wright Medical News | Scoop.it

Like the rooster crowing at dawn, Biomet is the first of the large orthopedic device companies to report quarterly sales. The company’s results are thus closely watched for what their sales volumes mean for the rest of the industry.

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Stryker Offers Feds $33 Million to Settle OtisKnee Investigation

Stryker Offers Feds $33 Million to Settle OtisKnee Investigation | Wright Medical News | Scoop.it

Stryker has offered the Justice Department a $33 million olive branch to resolve an investigation of the company's OtisKnee customized device. Customized devices seem to be confusing the FDA.

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Wright Sales Decline, Beat Expectations

Wright Sales Decline, Beat Expectations | Wright Medical News | Scoop.it

Wright Medical Group, Inc.'s first quarter revenue of $126.7 million and $0.17 earnings per share beat consensus on the top and bottom lines. Beating expectations and a positive guidance for the remainder of the year boosted investor confidence and sent the company's stock up by over 10%.

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Stryker 1Q12: Flat and Stable

Stryker 1Q12: Flat and Stable | Wright Medical News | Scoop.it

Stryker Corporation's Chief Financial Officer was asked, who is serving as interim CEO, the question on everyone's mind. No, not about Steve MacMillan's "family" reasons for resigning as head of the company, but whether or not hip and knee sales rates went up from the last quarter of 2011.

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Biomet Sales Encouraging for Industry

Biomet Sales Encouraging for Industry | Wright Medical News | Scoop.it

Biomet, Inc. reported a 5% increase in sales for the company's third fiscal quarter on April 11. Like the groundhog, Punxsutawney Phil of Pennsylvania, the company's sales are widely watched because Biomet is the first company to report orthopedic industry quarterly sales for the start of the year.

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Zimmer to Move Transportation Logistics to Memphis

Zimmer to Move Transportation Logistics to Memphis | Wright Medical News | Scoop.it

Workers at Zimmer Holdings, Inc. were told on the last day of February that the company plans to outsource its 120-employee transportation management team to a hub in Memphis, Tennessee.

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FDA Warns Synthes

FDA Warns Synthes | Wright Medical News | Scoop.it

The FDA has warned Synthes, Inc. about handling complaints from surgeons about products. The agency is also unhappy about the company's reporting process and allegedly failing to furnish information to the government.

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MacMillan CEO of Stryker Corporation Resigns

MacMillan CEO of Stryker Corporation Resigns | Wright Medical News | Scoop.it

Stephen MacMillan, the dean of orthopedic executives, has resigned immediately as Chairman, President and CEO of Stryker Corporation.

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Smith & Nephew settles Greek bribery case for $22.2M

Smith & Nephew settles Greek bribery case for $22.2M | Wright Medical News | Scoop.it
Smith & Nephew Inc. is paying $22.2 million to settle U.S. criminal and civil allegations...
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Wright Medical Group, Inc. Names Daniel Garen Senior Vice President and Chief Compliance Officer

Wright Medical Group, Inc. Names Daniel Garen Senior Vice President and Chief Compliance Officer | Wright Medical News | Scoop.it
Wright Medical Group, Inc.(NASDAQ: WMGI), a global orthopaedic medical device company and a leading provider of surgical solutions for the foot and a...
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Second Ex-Wright Employee Files Suit

Second Ex-Wright Employee Files Suit | Wright Medical News | Scoop.it

A second former Wright Medical Technology Inc. senior executive has filed a lawsuit against the company for, "breach of contract and retaliatory discharge." Cary Hagan claims he and others were terminated for criticizing the company's compliance program and to placate a federal monitor.

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Fired Chief Science Officer Sues Wright Medical

Fired Chief Science Officer Sues Wright Medical | Wright Medical News | Scoop.it

Frank Bono, Wright Medical's former senior vice president and chief technology officer is suing the company for, "breach of contract, retaliatory discharge, defamation and violations of the Tennessee Public Protection Act.”

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Tornier, Stryker, Orthofix and MAKO Report Good Results

Tornier, Stryker, Orthofix and MAKO Report Good Results | Wright Medical News | Scoop.it

Tornier NV, Stryker Corporation, Orthofix International NV and MAKO Surgical Corp. all announced good preliminary results for the fourth quarter and year. All companies will repeat the official results in the coming weeks. Good news is worth repeating.

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