Issue link: https://beckershealthcare.uberflip.com/i/1494056
24 DEVICES & IMPLANTS Orthofix, SeaSpine complete merger, name leadership By Carly Behm Orthofix and SeaSpine's merger was completed Jan. 5, the devicemakers said. e merger became official 12:01 a.m. EST Jan. 5, according to a Jan. 4 news release. Ninety-nine percent of SeaSpine common shares were voted in approval of the merger, and 98% of Orthofix common shares were voted in approval. e new leadership of the combined company includes President and CEO Keith Valentine, CFO John Bostjancic, President of Global Orthopedics Kim Elting and Executive Chair Jon Serbousek. "e completion of this merger catalyzes our ambition to be an industry leader in spine and orthopedics," Mr. Valentine said, "I'm privileged to lead this talented team and excited for all of the opportunities that lie ahead. Together we are stronger and better positioned to deliver innovative, quality-driven solutions for surgeons in their work to improve patients' lives." e newly merged company is headquartered in Lewisville, Texas. n No Medtronic spinoffs planned in 2023, CEO says By Carly Behm M edtronic doesn't have plans for additional spinoffs in 2023, CEO Geoff Martha said at the J.P. Morgan 41st Annual Healthcare Conference. In 2022, Medtronic made plans to spin off its combined patient monitoring and respiratory interventions businesses, which are part of the company's medical surgical portfolio. e company also has spinoff plans for its dialysis business. e spinoff companies combined account for 8 percent of Medtronic's revenue, and there are "some operational entanglements" the company is managing, Mr. Martha said. "I think over the near term from a divestiture standpoint, I wouldn't count on others," he said, as transcribed Jan. 9 by Seeking Alpha. "However, that being said, the portfolio review [is] ongoing." Analysts from Needham & Co., an independent investment bank and asset management firm, in 2022 suggested that a spine spinoff could have been on the horizon. In 2022, Zimmer Biomet spun off its spine and dental businesses, while Johnson & Johnson announced plans to divide into two companies. Despite the pause in spinoff activity, Mr. Martha said Medtronic plans to focus on tuck-in acquisitions in 2023. n Hospital for Special Surgery's virtual orthopedic company names CEO By Carly Behm F ormmer Walmart Health executive Marcus Osborne will lead New York City-based Hospital for Special Surgery's vitual musculoskeletal physical therapy company, RightMove. Mr. Osborne played a key role in pushing Walmart into healthcare, according to a Feb. 6 news release. He will step into his role Feb. 13. Mr. Osborne also worked with the Clinton Foundation's HIV/AIDS initiative and joined the board of directors of five early-stage healthcare companies. RightMove also landed two more funders — Frist Cressey Ventures and Greycroft. RightMove was announced in October and is expected to launch later in 2023. n FDA expands approval for sacroiliac joint implant By Carly Behm SI-Bone recieved additional FDA clearance for its iFuse Bedrock Granite device for sacroiliac joint fusions, the devicemaker said Dec. 27. The new clearance adds indications for a variety of pedicle scerw systems, according to a news release. It will allow surgeons to use their preferred techniques and implants with iFuse Bedrock Granite. Inital clearance included use with a single manufacturer's pedicle screw system. n