I just had a conformis partial knee replacement. The surgery went perfectly. I am a week post op and feeling better each day. The pre op pain is totally gone. The PT person I'm seeing tells me he does around 30 PT sessions a week and the conformis patients are doing better than the off the shelf patients. Also, the largest regional orthopedic practice is doing a test comparing outcomes of conformis vs. off the shelf implants. Based on my personal anecdotal feedback the voluntary recall last fall was a setback but the conformis implant procedures are easier to perform for surgeons, are easier on patients post op and are performing well over time. CFMS products are a winner and, at least locally, are gaining traction in the market.
Grandjean, thank you for the good wishes. We know CFMS sold at least one knee implant in Q2. I did my part to support the cause. I really wonder if CFMS's Board wants to go it alone with a new CEO and the inevitable need to raise capital by early 2017 or just package and sell the company. CFMS is going through $15 million per quarter so the $100 million cash war chest will get used up pretty quickly. It takes lots of money to really ramp up a medical technology company and CFMS has limited resources. If I was on the Board, I would sell the company which would be good for shareholders vs. the recent market price. How much of a premium they would get is an open question.
Grandjean, well, Tuesday is knee day for me. My surgeon is also high volume. We don't discuss his investments but he uses conformis products which speaks volumes. My guess is that CFMS will eventually be taken over by a larger player. Just don't see the existing management team and capital structure taking the company to the promised land. Wonder how the CEO search is going?