A bone or tissue-cutting instrument for use with a manual handle or with a powered surgical tool includes an elongated shaft and a cutting head portion of a distal end of the shaft. The cutting head portion includes an annular arcuate blade located at the distal-most end of the cutting head portion for cutting or shaving adjacent tissue or bone. The cutting head portion may also include a distal opening defined by the arcuate blade and a proximal opening with a central passage therebetween for collecting and transferring cut bone or tissue cut by the arcuate blade.
