Issue link: https://beckershealthcare.uberflip.com/i/1468175
41 DEVICES & IMPLANTS 11 spine medtech CEOs: Who gets paid the most? By Alan Condon T he compensation of medtech leaders varies based on the company's size and market share. While some have a larger base salary, others have higher bonuses and stock option value. Here is the compensation for 11 spine device company leaders based on data from salary.com. e information is reported according to the proxy state- ments filed for the 2020 and 2021 fiscal years. 1. Alex Gorsky. Former Chair and CEO, Johnson & Johnson. $23.1 million (Joaquin Duato succeeded Mr. Gorsky in January) 2. Geoffrey Martha. Chair and CEO, Medtronic: $16.5 million 3. Bryan Hanson. President and CEO, Zimmer Biomet: $13 million 4. Kevin Lobo. Chair and CEO, Stryker: $13.3 million 5. Jon Serbousek. President and CEO, Orthofix: $5.3 million 6. Kenneth Reali. CEO, Bioventus: $5.3 million 7. Christopher Barry. CEO, NuVasive: $4.8 million 8. Patrick Miles. President. Chair and CEO, Alphatec: $4.7 million 9. Jeff Dunne. Former President and CEO, SI-Bone: $4.2 million (Laura Francis was announced as Mr. Dunne's successor in January) 10. David Demski. President and CEO, Globus Medical: $4 million 11. Keith Valentine. CEO, SeaSpine: $2.1 million n Federal judge narrows surgeon's patent lawsuit against SeaSpine By Carly Behm A Delaware district court judge has partially dismissed a spine surgeon's patent lawsuit against SeaSpine. Three things to know: 1. SeaSpine had moved to dismiss a case brought by Roger Jackson, MD, al- leging that SeaSpine infringed 12 patents that he licenses from Alphatec Spine related to spinal implants and systems to fixate or align the vertebrae, according to a court opinion filed Feb. 14. 2. The judge cited partial dismissal of the suit under court rules related to in- duced, willful and contributory infringement, particularly related to two of the patents. 3. The judge found that Dr. Jackson only identified 10 of the allegedly infringed pat- ents in an infringement notice to SeaSpine, leaving two patents of which he failed to sufficiently plead SeaSpine had knowledge. Thus, the judge dismissed the portions of the suit related to the alleged infringement of two of the patents in question. n $450M acquisition to shake up the orthopedic device industry By Alan Condon B ioventus has exercised its call option to acquire Israeli devicemaker Carti- Heal for up to $450 million following the FDA's premarket approval of the Agili-C implant on March 29. The orthobiologics company is splashing $315 million on CartiHeal — excluding the ownership interest Bioventus already has in the company — with another $135 million payable upon the achievement of $100 million in trailing 12-month sales, according to an April 4 news release. Bioventus said it plans to fund the acquisition with additional debt. Agili-C, which received breakthrough device designation by the FDA in 2020, is "expected to be a cost-effective solution for cartilage regeneration and bone remodeling designed to delay total knee replacement in patients with joint surface lesions of the knee," according to CartiHeal. CartiHeal's product portfolio addresses an unmet need in joint preservation and cartilage regeneration for about 675,000 U.S. patients a year, which represents an estimated $1.3 billion market opportunity, Bioventus CEO Ken Reali said. "The CartiHeal team has done a tremendous job developing the implant, as evidenced by strong clinical data demonstrating clinical superiority over mi- crofracture or debridement," Mr. Reali said. "We look forward to leveraging our strong existing commercial infrastructure to begin commercializing CartiHeal in the coming months." The deal is expected to close in the second quarter, with a limited market re- lease of CartiHeal planned in the U.S. during the third quarter. The acquisition comes six months after Bioventus acquired spine device compa- ny Misonix for $518 million in cash and stock. n