ConforMIS plunges on recall, guidance cut

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ConforMIS (NSDQ:CFMS) shares plunged nearly 19% today after the Bedford, Mass.-based company recalled some 950 of its customized knee replacements and cut its outlook for the rest of the year.

The company received 3 complaints of moisture on the patient-specific instrumentation used with the implants, although all 3 procedures went off without a hitch, ConforMIS said. The recall affects its iUni, iDuo, iTotal CR and iTotal PS devices. Roughly 650 of the devices involved in the recall have already been implanted and the remaining 300 have shipped for scheduled procedures but not used, the company said.

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About Peter Coffaro 1430 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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