Issue link: https://beckershealthcare.uberflip.com/i/1344616
71 ORTHOPEDICS DiscGenics completes construction on Salt Lake City HQ — 7 things to know By Alan Condon D iscGenics, a biopharmaceutical company focused on regenera- tive therapies for spinal condi- tions, has completed construction on its 25,000-square-foot headquarters in Salt Lake City. Seven things to know: 1. e company added space for a manufacturing facility in anticipation of future commercial demand for IDCT, an allogeneic, injectable disc cell therapy for degenerative disc disease, according to a Feb. 9 news release. 2. In August, DiscGenics raised $50 mil- lion in a series C funding round. It has raised more than $71 million to date. 3. Former Medtronic Spine and Biologics executive Jeff Poole serves as CFO. He speaks fluent Japanese and has lived and worked in Japan, where DiscGenics has a significant commercial interest. 4. e company recently added two new board members, including Najeeb om- as, MD, a neurosurgeon with Southern Brain and Spine in New Orleans. 5. DiscGenics is conducting two clinical trials in the U.S. and Japan evaluating the safety and efficacy of IDCT in subjects with single-level, mild to moderate lum- bar degenerative disc disease. 6. All 60 subjects have been treated in the U.S. trial, with no safety issues reported, according to the company. 7. IDCT passed the initial safety review in Japan, where enrollment is ongoing. n Zimmer Biomet to spin off spine, dental businesses By Alan Condon Zimmer Biomet plans to spin off its spine and dental units to create a new company. "This transaction will position us to prioritize resources, simplify our operat- ing models and deliver greater value through two independent publicly traded companies," Bryan Hanson, Zimmer Biomet CEO, said in a Feb. 5 news release. Mr. Hanson will continue to serve as CEO of Zimmer Biomet. The com- pany said it will remain a leader in orthopedic markets such as knees; hips; sports medicine, extremities and trauma; and craniomaxillofacial and thoracic. Full-year net sales for the company's dental, spine, and craniomaxillofacial and thoracic line decreased 10.1 percent to $1.04 billion year over year. The company projects the spinoff to be accretive to revenue growth by approximately 50 basis points over the course of its five-year strategic plan, accelerate adjusted earnings per share growth, and expand adjusted EBITDA and operating margins. Zimmer Biomet plans to maintain its investment grade rating while continu- ing to invest in innovation and tuck-in acquisitions in higher growth markets. The search for the spinoff company's CEO is in its final stages. The company's board of directors, management and headquarters will be announced as they are finalized. n Maury Regional Medical Center first in Tennessee to launch 7D Surgical navigation for spine, brain surgery By Carly Behm C olumbia, Tenn.-based Maury Regional Medical Center became the first hospital in the state to debut the 7D Surgical Flash Navigation System, according to a Feb. 8 report from The Columbia Daily Herald. The navigation system is used to assist in spine and brain surgery, guiding tools through critical anatomy. In contrast to other image-guided surgery systems, the 7D doesn't rely on radiation and can achieve faster workflows, according to the report. Mark Cobb, MD, and Erion Qamirani, MD, PhD, are both trained on the system. "The 7D is a state-of-the-art technology, which will support our continued effort to advance the quality and safety of complex surgical procedures at Maury Regional," Dr. Cobb said in the report. n