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January 13, 2014
07:40 EDTTRNXTornier reports preliminary Q4 revenue $83M-$84M, consensus $76.21M.
Tornier announced preliminary Q4 revenue results. The company expects revenue for Q4 to be in the range of $83M-$84M, representing growth compared to the year-ago quarter of between 5.1%-6.3% as reported and 3.8%-5.1% in constant currency. Giving pro-forma effect to Tornier's 4Q12 acquisition of OrthoHelix Surgical Designs, to include OrthoHelix revenue for the full year 2012, full year 2013 constant currency revenue growth is expected to be between 3.3%-3.7%. Tornier also announced that over 85% of Tornier's U.S. revenue is now under a new distribution agreement or transitioned to a direct sales model, positioning the company to achieve a U.S. sales organization with representatives that are focused on either upper or lower extremity products. As a result of the transitions, including two December distributor separations, over 50% of the company's U.S. revenue is now represented by direct sales representatives.
News For TRNX From The Last 14 Days
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September 30, 2015
11:48 EDTTRNXFTC requires divestitures as condition of Wright Medical, Tornier merger
Wright Medical Group (WMGI) and Tornier (TRNX) have agreed to sell Tornier's U.S. rights and assets related to its total ankle replacements and total silastic toe joint replacements to resolve Federal Trade Commission charges that the proposed $3.3B merger would illegally reduce competition for these devices, the FTC announced. Under the proposed settlement, Wright and Tornier will divest the rights and assets to these devices to Integra Lifesciences (IART) and provide Integra with intellectual property, manufacturing technology, and existing inventory, as well as other assets and assistance to ensure that Integra can effectively compete in the markets. The proposed order also requires Wright and Tornier to supply Integra with total ankle replacements for up to three years and total silastic toe joint replacements for up to a year, while Integra transitions to become an independent competitor in these markets.

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