May 24, 2017 11:30 PM ET

Healthcare Equipment and Supplies

Company Overview of ConforMIS, Inc.

Company Overview

ConforMIS, Inc., a medical technology company, develops, manufactures, and sells customized joint replacement implants. The company offers customized knee replacement products, including iTotal CR, a cruciate-retaining product; iTotal PS, a posterior cruciate ligament substituting product; iDuo, a customized bicompartmental knee replacement system; and iUni, a customized unicompartmental knee replacement product for treatment of the medial or lateral compartment of the knee, as well as provides iJigs, customized single-use patient-specific instruments. It is also developing iTotal Hip, a customized total hip replacement implant. The company markets and sells its products through direct sales...

28 Crosby Drive

Bedford, MA 01730

United States

Founded in 2004

383 Employees

Phone:

781-345-9001

Fax:

781-345-0147

Key Executives for ConforMIS, Inc.

Chief Executive Officer, President and Director
Age: 50
Total Annual Compensation: $69.0K
Founder and Director
Age: 53
Total Annual Compensation: $350.5K
Chief Financial Officer
Age: 52
Total Annual Compensation: $336.6K
Chief Technology Officer
Age: 47
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2016.

ConforMIS, Inc. Key Developments

ConforMIS, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year of 2017

ConforMIS, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported total revenue of $20,455,000 compared to $20,250,000 a year ago. Loss from operations was $17,339,000 compared to $15,144,000 a year ago. Loss before income taxes was $17,153,000 compared to $15,030,000 a year ago. Net loss was $17,160,000 or $0.40 per basic and diluted share compared to $15,034,000 or $0.37 per basic and diluted share a year ago. The company provided earnings guidance for the full year of 2017. For the full year 2017, the company continues to expect total revenue in a range of $80 to $84 million and total gross margin in a range of 36% to 38%.

ConforMIS Seeks Acquisitions

ConforMIS, Inc. (NasdaqGS:CFMS) is seeking acquisitions. Mark A. Augusti, Chief Executive Officer, President and Director, said, "We happen to have a different products and different model, but we're looking to grow the company. So we look at technology opportunities, we look at those opportunities either through acquisition, development opportunities, where we look for partner -- partnership of opportunities and those can both be in-sourcing or potentially outsourcing. So nothing, Larry, that I'm prepared to talk about today other than to just to state publicly that we're considering the things or I'm certainly considering those things and we're looking at them.

ConforMIS, Inc. Announces Positive Results from Customized iTotal PS Total Knee Replacement Comparative Study

ConforMIS, Inc. announced results from the first study of its iTotal PS total knee replacement presented at the 2017 British Association for Surgery of the Knee (BASK) Annual Meeting. When a healthy knee bends, the lateral condyle, or outer portion of the end of the thigh bone or femur, rolls back on the shin bone or tibia and rotates externally, towards the outside of the knee. In this single-center study, financially supported by ConforMIS, researchers assessed the kinematics of 31 patients (13 patients with a ConforMIS iTotal PS implant and 18 patients with an off-the-shelf implant) at least six months after surgery using advanced real-time mobile x-ray imaging and 2D-3D registration. Patients who received a ConforMIS iTotal PS demonstrated greater average range of motion during a deep knee bend (112° vs. 94°). Additionally, iTotal PS patients saw greater lateral femoral rollback (11.73mm vs. 4.69mm), medial translation (2.8mm vs. 1.0mm) and greater axial rotation (10.85° vs. 7.58°) during deep knee bend, which is consistent with normal knee motion. In addition, two studies, financially supported by ConforMIS, were presented at BASK highlighting the variability in femoral and tibial anatomy which cannot be replicated by off-the-shelf implants, which are offered in a limited number of shapes and sizes: A retrospective review of 24,042 CT data sets used to design customized iTotal implants found that 61% of knees exhibited a distal femoral offset of >1mm. Additionally, 83% exhibited >2mm of posterior condylar offset. Off-the-shelf implants are designed with fixed condylar offsets, which are unable to retain the natural condylar shape of the knee. A similar analysis was conducted on tibial implants and found that the tibial trays were within 2mm or less of symmetrical only 12% of the time, while 22% were found to have asymmetry >5mm. The authors concluded that tibial trays that are either symmetric or have a fixed asymmetry based on medio-lateral size, as off-the-shelf implants do, may face challenges between maintaining proper rotation and adequate coverage.

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