Four things to know:
1. Fourth quarter orthopedic sales were $2.3 billion, up 5.6% year-over-year. For the full year of 2023, orthopedic sales rose 4.1% with $8.9 billion.
2. Hip sales in the fourth quarter were $398 million, a 3.4% year-over-year increase. Knee sales rose 9.2% with $387 million. Quarterly spine, sports and other sales were $742 million, and trauma sales were $741.
3. In fiscal year 2023, Johnson & Johnon began restructuring its orthopedic business in the MedTech segment. Restructuring expenses were $84 million in the fourth quarter, according to a news release.
4. Johnson & Johnson expects 2024 sales to grow 5% to 6% in 2024.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
