Portfolio March 14 2019

Stryker acquires OrthoSpace, Ltd.

Stryker announced today it has completed the acquisition of OrthoSpace, Ltd., a privately held company founded in 2009 and headquartered in Caesarea, Israel, in an all cash transaction for an upfront payment of $110 million and future milestone payments of up to an additional $110 million. OrthoSpace’s product portfolio provides a highly differentiated technology for the treatment of massive irreparable rotator cuff tears. The InSpace product is a biodegradable sub-acromial spacer, which is designed to realign the natural biomechanics of the shoulder. The technology has a long clinical history with over 20,000 patients treated across 30 countries. In the U.S., InSpace is currently under clinical study and not approved for use. “The acquisition of OrthoSpace is highly complementary to our existing portfolio and aligns with Stryker’s focus on investing in sports medicine,” said Andy Pierce, Stryker’s Group President, MedSurg. “We are excited about the momentum OrthoSpace has in key global markets and the additional surgical option this technology provides our customers to address a complex pathology.” The transaction is expected to have an immaterial impact to net earnings in 2019. Forward-looking statements This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities law that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unexpected charges or expenses in connection with the acquisition of OrthoSpace; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; potential supply disruptions; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost of recall-related matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions, including the acquisition of OrthoSpace; and our ability to realize anticipated cost savings. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Stryker is one of the world's leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers a diverse array of innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes. More information is available at www.stryker.com.

Portfolio March 12 2019

Zerto launches training platform for customers, partners

Disaster-recovery-as-a-service provider Zerto has launched a program known as myZerto Labs to provide its customers and partners who have access to its support and partner portal with a free site where they gain hands-on experience with its IT Resilience Platform. A statement from the company said the program had been in a pilot phase last year and was now going live, following feedback from those who had participated in the trial phase. The program has three offerings: Introductory: getting started with Zerto – An introductory technical lab, perfect for getting up and running with Zerto for the first time. It includes first steps, installation and initial configuration in a VMware vSphere environment, as well as setting up protection of VMs in a virtual protection group and providing that group with a failover test. Users will learn firsthand how easy it is to get started with Zerto’s IT Resilience Platform and its always-on, continuous replication. Intermediate: managing protection with Zerto – This lab will allow users to discover additional features within Zerto on VMware vSphere such as pre-seed and re-IP before practising failovers, tests, and moves. The lab also focuses on ransomware and uses a real infection to practice recovery using Zerto without paying a ransom or losing files. Advanced: automating Zerto with REST APIs – This offers hands-on training around PowerShell and REST APIs to automate common tasks, such as installing VRAs and creating VPGs. Users will practise editing existing scripts and writing new ones, including putting together a script for automating a failover test. This lab will equip power users to maximise Zerto’s functionality and integrate it into their own automation workflows. “During the pilot program, we’ve seen a diverse and global set of customers and partners using the labs, with really positive feedback about the experience and the insight that they provide,” said Rob Strechay, senior vice-president of Product at Zerto. “We are excited to make this available to all prospects, customers and partners as it is a great way for us to connect with them, show the capabilities of the IT Resilience Platform and encourage them to test the limits of how it would work in their environment. Making the implementation of Zerto as seamless and user-friendly as possible is one of our top priorities, and labs are another piece to that puzzle.”

Portfolio March 11 2019

DxO PhotoLab 2.2: faster and with additional camera support

DxO’s advanced photo editing software has a new version, DxO PhotoLab 2.2, featuring improved performance and additional camera and lens support. Support for the Nikon Z6 and the DJI Mavic 2 Zoom drone are some of the new features of DxO PhotoLab 2.2,  DxO’s software, on the path to become a complete image-production workflow. One more contender for the title of “your photo editor with everything included” DxO PhotoLab now reaches version  2.2, and the company behind the product has some new features to share with potential buyers. This new version offers improved performance and additional camera support. The software now adds support capabilities for four new devices: the Nikon Z 6, the Canon EOS R and EOS M50, and the DJI Mavic 2 Zoom drone. This continues a trend already seen on update 2.1, when DxO introduced support capabilities for three new devices: the highly anticipated Nikon Z 7,  Nikon’s first full-format hybrid, as DxO refers to it,  the Mavic 2 Pro drone from DJI, the Mavic 2 Pro, a consumer drone from DJI featuring a Hasselblad L1D-20c camera with a 1-inch sensor,  and the Fujifilm X-A5, a hybrid camera with a built-in Bayer-filtered CMOS APS-C sensor. More than 46,000 camera/lens combinations For the Z 7, DxO PhotoLab 2’s camera/lens combination database includes no less than 200 optical modules. By extension, the software also supports the NIKKOR Z 24-70mm f/4 S and the NIKKOR F FX lens, which have already been calibrated. The compatibility of the software does not stop there, and DxO engineers are currently calibrating, according to the company, the EOS M50, the Fujifilm GFX 50s and GFX 50r. DxO claims that the sofware has more than 46,000 camera/lens combinations available. In fact,  DxO PhotoLab 2.2 adds no fewer than 3,472 new optical modules to its library, bringing the total number of available combinations to 46,248 — among them the recent NIKKOR Z 35mm f/1.8 S and NIKKOR Z 50mm f/1.8 S, as well as the CANON RF 24-105mm F4L and the CANON RF 50mm F1.2. The software also includes modules from the Hasselblad X1D’s range of autofocus lenses specifically designed for high resolution: the Hasselblad XCD 21mm F4, the Hasselblad XCD 30mm F3.5, and the Hasselblad XCD 90mm F3.2. Further, the new version supports the Mavic 2 Zoom, a DJI consumer drone with 24-48mm F2.8-3.8 lenses. A series of new modules Version 2.2 of DxO PhotoLab completes its offer for Canon, Nikon, Panasonic, Pentax and Sony with the following modules: Panasonic Leica DG Vario 50-200mm F2.8-4.0 ASPH Pentax-D FA* 50mm F1.4 SDM AW Samyang AF 35mm F2.8 for Sony FE Sigma 105mm F1.4 DG HSM Art for Nikon F Sigma 56mm F1.4 DC DN C for Sony E Tamron SP 35mm F1.8 Di USD (F012) for Sony Alpha Tamron SP 45mm F1.8 Di USD (F013) for Sony Alpha Zeiss Milvus 25mm F1.4 ZE for Canon EF Zeiss Milvus 25mm F1.4 ZF.2 for Nikon F Zeiss Distagon T* 35mm F2 for Nikon F Zeiss Loxia 25mm F2.4 for Sony FE Automatic correction The company claims that “thanks to the high-quality RAW conversion technology included in DxO PhotoLab 2 and DxO’s scientific calibration process, the photos taken with these devices will be automatically corrected for any optical flaws, such as distortion, vignetting, chromatic aberrations, and a lack of sharpness.” The improvements in DxO PhotoLab have a goal: the company aims to make the software the choice for many users, and is trying to promote it a complete image-production workflow, able to compete with the popular solutions, from Lightroom to Capture One. Easier image and photo data management is a key element here, and DxO introduced previously a brand-new image and data management system that lets users search for, select, sort, and display images, DxO PhotoLibrary. Better image search The DxO PhotoLab 2.1 version improved its image management system by optimizing its database architecture, resulting in significantly faster searches. The Windows version of the software now offers a more detailed search history feature. Any image searches are now saved and available with just one click, even if a new user session is opened.  DxO PhotoLab 2.1 also added a file indexing feature to the macOS version of the software, following what was already available on the windows version. This makes the workflow faster in macOS than it was until now. In terms of photo editing, DxO PhotoLab offers, says the company, “an advanced RAW and JPEG editing solution based on powerful optical corrections and exclusive, automatic correction tools. These tools include the de-noising feature DxO PRIME, the smart exposure optimization feature DxO Smart Lighting, and DxO ClearView Plus, a revolutionary tool that removes haze and increases local contrast within the image.” Two versions: ESSENTIAL and ELITE To allow photographers to apply local edits, DxO incorporated Nik Software‘s U Point technology into DxO PhotoLab. This local editing technology lets users perform complex selections, which used to require a significant amount of time and painstaking manual brush work, in just a few clicks. DxO PhotoLab is, according to DxO,  the only software to fully integrate U Point technology within a non-destructive RAW workflow. Lastly, with the introduction of DxO PhotoLibrary, DxO PhotoLab now offers search functions that let users select, sort, and display images based on various criteria. With this latest addition, DxO PhotoLab offers an even more complete photo-editing solution. DxO PhotoLab 2 users can download this update for free. DxO is quick to point out that “you do not need a subscription to use DxO PhotoLab 2” and that users can install the program on two computers with the DxO PhotoLab 2 ESSENTIAL Edition (priced at $129) or on three computers with the DxO PhotoLab 2 ELITE Edition (priced at $199). Photographers with a license for DxO OpticsPro or PhotoLab 1 can purchase an upgrade license for DxO PhotoLab 2 by signing into their customer account.  There is also a fully-functional, one-month trial version of DxO PhotoLab 2 available on the DxO website.

Portfolio March 7 2019

BioCatch patents touchscreen pressure measuring method to extend behavioral biometric innovation

BioCatch has patented a series of methods for determining or estimating the amount of force applied by a user to the touchscreen of an electronic device, which the company says will enable it to extend its pioneering work to distinguish legitimate from fraudulent users with behavioral biometrics and artificial intelligence. The patent is the 39th granted to the company by the U.S. Patent and Trademark Office, with 25 more pending. BioCatch says the invention is important because it allows pressure data to be extracted from the mobile device without the need for additional hardware, and can contribute to significantly higher accuracy in detecting fraud in an online session. Touch pressure is one of approximately 2,000 behavioral parameters analyzed by BioCatch to build user profiles and gain behavioral insights. “The company’s IP portfolio is far and away the most robust amongst the behavioral biometrics players,” comments BioCatch Founder, CTO and Vice President of Business Development Avi Turgeman. “Our patent work began in 2010, at a time when others in the security industry were just becoming aware of threats like Remote Access Attacks (RATs), Man-in-the-Browser (MitB) Trojans, and so forth. This enormous head start means that current and potential competitors need to find other ways of accomplishing what BioCatch offers or run the risk of infringement.” “Patents and other types of intellectual property have long been synonymous with client and shareholder value, as a measure of a company’s commitment to continued innovation and market leadership,” says BioCatch Chairman and CEO Howard Edelstein. “This is the main reason tier one banks and other global clients turn to us to help them deal with the ever-changing challenges around user authentication. As online applications rapidly evolve from desktop to mobile and behavioral biometrics takes center stage in defining digital identity, the patent granted last week gives BioCatch a significant advantage in the mobile arena and adds to our impressive overall IP portfolio.” BioCatch was recently named to the 2019 CB Insights AI-100 List of top startups and had the third most patents among companies on the list, and also launched a capability to detect “vishing” social engineering attacks last month. The company is presenting its behavioral biometric technology at RSA Conference 2019.

Portfolio March 7 2019

ChannelSight raises $10m as it seeks to expand e-commerce offering

Irish ecommerce technology company ChannelSight has raised $10 million (€8.85 million) to further develop its software-as-a-service (SaaS) platform and allow it to expand into more markets. ChannelSight allows brands to add “where to buy” buttons to their digital content to help generate sales by encouraging consumers towards online retailers where they can make purchases. The technology also provides companies with detailed analytics so they can easily tweak content based on how well it is being received. Hundreds of companies in 65 countries use the Dublin-based group’s technology, including internationally-known brands such as Sony, Philips, Mondelez and Bosch. Founded in 2013, ChannelSight is led by John Beckett, the man who helped develop Ryanair’s first website while still at school. Its other cofounders are Niall O’Gorman, previously global director of ecommerce strategy and innovation at Mondelez and Kieron Dundon, who has since left the business and is now a cloud migration consultant at Musgrave Group. Amsterdam-based SaaS investor Connected Capital led the $10 million Series B funding round. Other participants included Spanish venture capital firm Nauta, Dublin-based Act Venture Capital and Enterprise Ireland, which all previously took part in a €3.3 million fundraise for ChannelSight in 2015. “The funding will be spent primarily on growing the team by about 50 per cent over the next year or so and to expand our footprint,” Mr Beckett told The Irish Times. “There has been a lot of innovation internally, which has led to a number of new products. It is now time to deliver that to customers.” ChannelSight reported €3.53 million in accumulated losses in 2017, up from €1.68 million a year earlier due to heavy investment in product development and growing the team. While the company does not disclose turnover, Mr Beckett, ChannelSight’s chief executive, said it recorded revenue growth of 110 per cent last year. “Our mission is to make the world instantly shoppable. We work with large brands to help them drive sales from the digital content they are pushing out across different platforms. Our technology effectively allows them to place a ‘call to action’ on their content so that consumers who engage with it have a fast, frictionless way to make instant purchases,” said Mr Beckett. “This results in higher conversion rates from digital content. It also means that brands can accurately measure the success of content in terms of driving sales, no matter what channel they use.” The company employs 70 people and is currently hiring for an additional 30 roles across product, marketing, sales and engineering in their Dublin, Brasov and Thessaloniki offices. “We believe that ChannelSight is a truly exciting company with global ambitions and market defining potential,” said John Flynn, managing partner at Act Venture Capital. “Having shown significant growth, we have confidence the team is in place to lead the expansion.”