Here are eight things for spinal surgeons to know for Aug. 24, 2017.
Medtronic Q1 revenue jumps 3% to $7.4B
Medtronic reported a slight revenue increase in the first quarter of the 2018 fiscal year. First quarter revenue hit $7.39 billion, up 3 percent over the same period last year. U.S. revenue increased 1 percent to $4 billion, representing 55 percent of the company's overall revenue. Non-U.S. revenue hit $2.3 billion, up 4 percent over the same period last year, and emerging market revenue was $1 billion, up 11 percent over last year.
DuPage Medical Group to grow with $1.45B investment
With a $1.45 billion investment from Ares Management, DuPage Medical Group is looking to expand its services and the number of physicians, the Chicago Tribune reports. Currently, the group has a team of 800 providers and plans to grow to between 1,200 and 1,500. DuPage Medical Group is also considering expanding further beyond Illinois. Along with adding more physicians, DuPage Medical Group plans to add services such as imaging, immediate care, physical therapy and oncology.
Spineology receives $10M funding
During Spineology's latest round of funding, the company secured $10 million. Spineology began taking $25,000 investments for the recently closed round a year ago. The company has not announced its plans for the funding.
Former Yale Spine Co-Chief Dr. James Yue joins Connecticut Orthopaedic Specialists
James Yue, MD, joined Connecticut Orthopaedic Specialists. He previously served as the co-chief of orthopedic spine surgery at New Haven, Conn.-based Yale School of Medicine and director of the ACGME Yale Spine Fellowship. As a member of Connecticut Orthopaedic Specialists, Dr. Yue will see patients in Shelton, Hamden and Essex, Conn.
Merger: Advanced Pain Medicine now under Commonwealth Pain & Spine umbrella
Lexington, Ky.-based Advanced Pain Medicine merged with Louisville, Ky.-based Commonwealth Pain & Spine. Commonwealth Pain & Spine consists of more than seven locations and 30 providers. The merger came to fruition due to Advanced Pain Medicine's Saroj Dubal, MD, deciding to retire.
Washington University School of Medicine new spinal cord injury clinical trial site
The St. Louis-based Washington University School of Medicine is a new clinical study site for Asterias Biotherapeuturics SCiStar clinical trial of AST-OPC1 stem cells in patients with severe cervical spinal cord injuries. W. Zachary Ray, MD, a neurological and orthopedic surgery associate professor at Washington School of Medicine, will lead the site's investigation.
EIT acquires 22 patents from spine surgeon Dr. Morgan Lorio
Emerging Implant Technologies acquired a portfolio of patents from Morgan P. Lorio, MD, of Nashville, Tenn.-based Hughston Clinic Orthopaedics. The portfolio includes 22 issued and pending patents for 3-D printed expandable spinal fusion cages. EIT plans to leverage this technology to enhance its cellular titanium cages.
Global minimally invasive spine surgery market to grow at 7.6% CAGR through 2021
The global minimally invasive spine surgery market is anticipated to grow at a 7.57 percent compound annual growth rate between 2017 and 2021, according to an Absolute Reports analysis. DePuy Synthes, Medtronic, NuVasive, Stryker and Zimmer Biomet lead the global MIS spine market. A key market trend is an increase in MI sacroiliac joint fusion.