Medical Device

Osteopore

Osteopore to Acquire Multiple Medical Distribution Businesses & Become Vertically Integrated

Osteopore Limited (ASX: OSX) (“Osteopore” or the “Company”), a revenue-generating manufacturer and distributor of regenerative implants that empower natural tissue regeneration, is pleased to announce it has entered into a binding asset purchase deed (“Asset Purchase Deed”) with Mr Lim Jae Hoon (an unrelated party to the Company) (“Vendor”) to acquire (“Proposed Acquisition”) 100% of the Osteopore distribution businesses carried on by Lomic Korea Co., Ltd, 3D Aesthetic Solutions Pte Ltd, 3D Healthcare Solutions Co., Ltd and 3D Aesthetic Medical Equipment and Supplies Trading (“Target Businesses”).


Highlights:

  • Osteopore has entered into a binding asset purchase deed to acquire multiple medical distribution businesses that are currently responsible for approximately 40%-45% of Osteopore’s total sales globally.
  • The acquisition is a direct result of Osteopore’s strategy to supercharge revenue growth, become cash flow positive and profitable at a faster rate whilst maintaining steady organic growth.
  • The acquisition will transition Osteopore towards a vertically integrated business, controlling the entire process from manufacturing and marketing, through to direct retail sales.
  • By selling direct to customers (as opposed to via distributors) the Company expects to achieve greater revenue and increased margins, due to removing the distribution layer between Osteopore and its end customers.
  • The transaction will create a dedicated sales team with localised knowledge and networks across key target markets, along with an internal business development team with deep expertise in the aesthetic segment to lead our strategy for deeper penetration into the global aesthetic market in 2023.
  • The acquisition consideration is part cash (no cash upfront due to the offsetting of debtor balances) and performance rights (subject to achieving performance milestones).
  • Osteopore continues to investigate the viability of additional potential acquisitions and partnership opportunities in the 20 countries which it is already selling products, including the US, Europe, and Asian markets like Singapore, South Korea, Vietnam, Malaysia, and Indonesia.

The Proposed Acquisition was first announced by the Company on 22 December 2022.

The Target Businesses are currently responsible for distributing Osteopore products and have historically been the Company’s top distributor groups - contributing approximately 40%-45% of Osteopore’s total sales over the past few years. The sales are primarily related to the aesthetic market in South Korea, complemented by sales in Singapore, Thailand, Vietnam and the Philippines.

Osteopore will acquire 100% of all business activities relating to the marketing, sales and distribution of Osteopore products from the Target Businesses (see key terms below), including the sales teams, office premises, distribution networks and business contracts. The Target Businesses are estimated to be fully integrated into Osteopore shortly, with no disruptions expected to occur in regards to current business activities and sales during the process.

Osteopore’s CEO, Goh Khoon Seng said: “This acquisition will allow Osteopore to be vertically integrated across an estimated 40%-45% of our business. This means we will control the entire process from manufacturing, marketing and direct “retail” sales. The potential benefits of this are highly encouraging, including the immediate creation of a proven direct sales team, direct access to an extensive network of hospitals and surgeons, along with the anticipated benefit of supercharging revenue and increasing margins.”

Osteopore’s Executive Chairman, Mark Leong added: “We are enthused as this transaction marks our first acquisition since listing on the ASX, adding complementary synergistic value and exciting organic growth to complement the strong traction seen to date. This sets us on an accelerated path towards positive cashflows. This is the start of an exciting chapter and we will continually seek more opportunities to further boost our trajectory.

Click here for the full ASX Release

This article includes content from Osteopore Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

OSX:AU

FDA Approves Abbott's Spinal Cord Stimulation for People Living with Painful Diabetic Peripheral Neuropathy

  • The new indication for Abbott's Proclaim™ XR SCS system provides a non-medication option for people with painful diabetic peripheral neuropathy
  • Spinal cord stimulation is proven to be more effective than conventional medical management in the treatment of chronic pain 1,2

Abbott (NYSE: ABT) announced today that the U.S. Food and Drug Administration (FDA) has approved its Proclaim™ XR spinal cord stimulation (SCS) system to treat painful diabetic peripheral neuropathy (DPN), a debilitating complication of diabetes. The Proclaim XR SCS system can provide relief to DPN patients in need of alternatives to traditional treatment approaches, such as oral medication. People who receive therapy from the Proclaim XR SCS system will also be able to use Abbott's NeuroSphere™ Virtual Clinic, a connected care app that allows people to communicate with a physician and receive treatment adjustments remotely.

Roughly 34.2 million Americans, or 10.5% of the U.S. population, have diabetes. 3 Diabetic neuropathy, one of the complications of diabetes, is a type of damage seen predominately in nerves running to the feet. 4 During their lifetime, approximately 50% of adults with diabetes will develop peripheral neuropathy, which may include symptoms such as pain and numbness in the legs, feet and hands. 5

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Medtronic recommends rejection of below-market mini-tender offer by TRC Capital Investment Corporation

Medtronic plc (NYSE:MDT) recently became aware that TRC Capital Investment Corporation (TRC) has made an unsolicited mini-tender offer to purchase up to 1,500,000 Medtronic ordinary shares, representing approximately 0.1% of the company's outstanding ordinary shares. TRC's offer price of $77.25 per share in cash is approximately 4.5% lower than the $80.91 closing price of Medtronic ordinary shares on January 20, 2023 the last closing price prior to commencement of the offer.

Medtronic does not recommend or endorse TRC's unsolicited below-market mini-tender offer. Further, because the offer is at a price significantly below the current market price of Medtronic ordinary shares, Medtronic recommends that shareholders not tender their shares. Medtronic is not affiliated or associated with TRC, its mini-tender offer, or the mini-tender offer documentation.

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Abbott Reports Fourth-Quarter and Full-Year 2022 Results; Issues 2023 Financial Outlook

  • Fourth-quarter sales of $10.1 billion ; full-year 2022 sales of $43.7 billion
  • Full-year 2022 sales growth of 1.3 percent; organic sales growth of 6.4 percent
  • Full-year 2022 GAAP diluted EPS of $3.91 ; adjusted diluted EPS of $5.34
  • Continues to strengthen portfolio with steady cadence of new product approvals

Abbott (NYSE: ABT) today announced financial results for the fourth quarter ended Dec. 31, 2022 .

  • Fourth-quarter sales of $10.1 billion , which were negatively impacted by an expected year-over-year decline in COVID-19 testing-related sales, decreased 12.0 percent on a reported basis and 6.1 percent on an organic basis, which excludes the impact of foreign exchange.
  • Excluding COVID-19 testing-related sales 1 , fourth-quarter sales decreased 1.4 percent on a reported basis and increased 5.4 percent on an organic basis.
  • Excluding COVID-19 testing-related sales 2 and U.S. infant formula sales that were impacted by manufacturing disruptions 3 , full-year 2022 sales increased 1.9 percent on a reported basis and 7.4 percent on an organic basis.
  • GAAP diluted EPS was $0.59 in the fourth quarter. Excluding specified items, adjusted diluted EPS was $1.03 .
  • Abbott issues full-year 2023 guidance for diluted EPS from continuing operations on a GAAP basis of $3.05 to $3.25 and full-year adjusted EPS from continuing operations of $4.30 to $4.50 .
  • Abbott projects full-year 2023 organic sales growth, excluding COVID-19 testing-related sales, of high-single digits 4 and COVID-19 testing-related sales of around $2.0 billion .
  • In October, Abbott's market-leading FreeStyle Libre ® continuous glucose monitoring system was named the "Best Medical Technology" of the last 50 years by the Galien Foundation.
  • In December, Abbott announced U.S. Food and Drug Administration (FDA) approval of its Eterna™ spinal cord stimulation system — the smallest implantable, rechargeable system currently available for the treatment of chronic pain. 5
  • In January, Abbott announced U.S. FDA approval of its minimally invasive Navitor™ transcatheter aortic valve implantation (TAVI) system for people with severe aortic stenosis who are at high risk for surgery.

"We significantly exceeded the EPS guidance we provided at the beginning of last year despite challenging global business conditions," said Robert B. Ford , chairman and chief executive officer, Abbott. "Our R&D pipeline continues to be highly productive with several recent and upcoming new product launches that position us well going forward."

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Singular Health Group Limited

Completion of Global3D Acquisition

Medical technology company Singular Health Group Ltd (ASX: SHG) (“Singular Health”, or “the Company”) is pleased to advise that it has completed the acquisition of the assets of Global3D Pty Ltd (“Global3D”) as previously announced on 6 December 2022. The acquisition is the culmination of over two years of working together with Global3D to investigate and develop enhanced software, technology and 3D printing processes for a range of medical devices, including customised ankle foot orthotics and individualised prosthetics.

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Johnson & Johnson Reports Q4 and Full-Year 2022 Results

  • 2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
  • 2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
  • 2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
  • 2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
  • Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*

Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."

OVERALL FINANCIAL RESULTS

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Johnson & Johnson Reports Q4 and Full-Year 2022 Results

  • 2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding COVID-19 Vaccine of 4.6%*
  • 2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35 increasing by 10.3%*
  • 2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
  • 2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15 increasing by 3.6%*
  • Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and adjusted operational EPS of $10.50, reflecting growth of 3.5%*

Johnson & Johnson (NYSE: JNJ) today announced results for fourth-quarter and full year 2022. "Our full year 2022 results reflect the continued strength and stability of our three business segments, despite macroeconomic challenges," said Joaquin Duato, Chairman of the Board and Chief Executive Officer. "I am inspired by our employees who make a difference in the health and lives of people around the world every day. As we look ahead to 2023, Johnson & Johnson is well-positioned to drive near-term growth, while also investing strategically to deliver long-term value."

OVERALL FINANCIAL RESULTS