Issue link: https://beckershealthcare.uberflip.com/i/1198635
24 DEVICES & IMPLANTS Zimmer Biomet makes license deal worth up to $5M — 3 things to know By Angie Stewart Z immer Biomet entered into a global license agree- ment with Bactiguard, an infection prevention tech- nology company based in Sweden. Three things to know: 1. Zimmer Biomet will apply Bactiguard's infection preven- tion technology to its orthopedic trauma implants. 2. The agreement entails a $3 million upfront license fee, with an additional $2 million contingent upon U.S. regulato- ry clearance and net sales after commercialization. 3. The use of Bactiguard's infection prevention technology on orthopedic trauma implants was CE marked in Decem- ber 2018. n DeGen Medical gains clearance of new modular pedicle screw for spine procedure By Alan Condon D eGen Medical received FDA clearance for its F1 MPS modular pedicle screw system for the Joust minimally invasive procedure in September. Four insights: 1. Joust is a modular pedicle screw with a cobalt chrome alloy head for percutaneous procedures. 2. The device features towers with built-in rod reduction technology intended for percutaneous screw placement in the traditional or cortical approach. 3. Joust's rod insertion tool helps achieve a stable fusion con- struct without undergoing the traditional open approach. 4. Joust, with the F1 MPS system, will be available in the fourth quarter of 2019. n Smith+Nephew CEO Namal Nawana steps down By Laura Dyrda S mith+Nephew CEO Namal Nawana will depart the company over the next few months as part of a "mutual decision" to pursue other opportunities, according to a statement from the company. Mr. Nawana maintained his position on the board through Oct. 31 and will provide advice and assistance to his successor, Ro- land Diggelmann, through the end of the year. "During his time with Smith+Nephew, Namal has substantially transformed the business with a new strategy, purpose and culture and renewed commitment to innovation, returning it to an improved growth trajectory," said Roberto Quarta, chairman of the company. Smith+Nephew appointed Mr. Nawana CEO in April 2018, just as it was "fending off pressure from activist shareholders for a break-up," according to Financial Times. e company had recently considered moving its share listing to the U.S., which would allow it to increase Mr. Nawana's pay so it more closely aligned with his previous compensation as head of the diagnos- tics group at Alere. "On behalf of the board, I am delighted to welcome Roland Dig- gelmann as Smith+Nephew's incoming CEO. I am certain that Roland's leadership qualities, combined with his excellent track record of delivering results in an innovation-led business, his deep expertise in the medical devices industry and his knowl- edge of Smith+Nephew make him the right person to build on the company's success into the future," said Mr. Quarta. Mr. Diggelmann has served on the board of Smith+Nephew as a non-executive director since March 2018, aer spending time as CEO of Roche Diagnostics. He also has a background in orthopedics, serving in leadership roles with Sulzer Orthopedics and Zimmer. When he steps into the CEO role on Nov. 1, Mr. Diggelmann will receive a base salary of around $1.4 million and aer the new year he will be able to earn up to 150 percent of his base salary in a cash incentive plan as well as access to the annual equity incentive plan and performance share plan awards. Mr. Nawana will continue to receive his salary and benefits through the end of the year. n