Financial

Medtronic, which has been the focus of recent reports detailing its payments to doctors, is defending that practice.

Orthofix International N.V. announced that the Company has received CE Marking for its Advent™ Cervical Disc, allowing it to begin selling the new device in Europe.

Small Bone Innovations, Inc., an orthopedics company focused exclusively on technologies and treatments for the small bones & joints, announced that it has sold a total of $108 million of Series D Preferred Stock in a series of private equity financings.

Inspire Medical Systems, Inc., a private medical device company, today announced it has completed a Series B financing of $17 million.

Archus Orthopedics, a Redmond company developing reconstructive implants for spine disorders, has “substantially” reduced its headcount and scaled back operations, according to Chairman and CEO Jim Fitzsimmons.

XTENT, maker of an innovative stent that received the European CE Mark just two months ago, is closing its doors after failing to find a partner or buyer, a goal first announced in January.

Smith & Nephew’s Orthopaedics business announced today it has made its first contribution to the Orthopaedic Research and Education Foundation for continuing medical education grants.

Stryker Corp. has received a subpoena from the Attorney General of New Jersey related to an investigation of financial relationships between companies that make medical products and surgeons that use them.

Sadra Medical today announced it has raised $30 million in new investment capital.

Stryker Corp. won’t achieve a ninth straight year of double-digit sales growth this year, the company’s chief executive officer told Stryker shareholders Wednesday.

Citing weak global markets, Smith & Nephew PLC reported a 5 percent decline in revenues for the first quarter of 2009, falling from $911 million in the year-ago quarter to $865 million.

SpineGuard, a French medical device start-up, announced today that it has raised a first funding round of $11 million with Crédit Agricole Private Equity (lead), Innoven Partenaires (co-lead), and A Plus Finance.

Nycomed, a privately held Swiss drug company, is looking for potential buyers in a deal that could be valued at as much as €10 billion ($13.57 billion), according to people familiar with the matter.

Ardian, Inc., developer of a breakthrough catheter-based medical device to treat hypertension, announced today that Medtronic, Inc., one of the world’s leading medical technology companies, has led a $47 million financing of the company.

Angiotech Pharmaceuticals, Inc. today announced its financial results for the fourth quarter and year ended December 31, 2008.

In the first quarter, Coloplast achieved an organic growth rate of 6% and an operating profit margin of 15%. If exchange rates had not been unfavourable to Coloplast, the operating profit margin would have been 17% against 16% for the same period last year.