The company’s orthopedics unit experienced a 4 percent increase from $535 million to $588 million, and the endoscopy unit saw a 5 percent growth from $206 million to $231 million. Hip sales remained flat and knee replacement sales grew by 7 percent, driven by the VERILAST bearing technology. Orthopedic trauma revenues also grew by 4 percent to $115 million.
Revenue from the endoscopy unit grew by 5 percent to $231 million, while European revenue was flat. In sports medicine, the arthroscopy unit grew by 6 percent.
The ability to adapt in an ever-changing market and anticipate future market conditions has helped the company establish a new strategic framework for continued success, according to Smith & Nephew CEO Olivier Bohuon.
The company experienced a 3 percent decrease in trading profit and net debt decreased by $5 million to $346 million during the second quarter.
Read the release on the 2Q financial report for Smith & Nephew.
Related Articles on Orthopedic Device Companies:
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