The company’s net sales in the U.S. decreased by 3 percent during the fourth quarter, while the European sales increased by 7 percent. Other international sales increased by 11 percent.
Biomet CEO Jeffrey R. Binder attributed the slow fourth quarter to the decrease in industry volume and price pressures. Additionally, the company hasn’t experienced above market growth in most areas of the business, which Mr. Binder says it plans to change as quickly as possible.
Reconstructive sales were flat at $549 million while extremities sales increased by 17 percent worldwide. The growth can be attributed to the increased demand for the Comprehensive Primary, Reverse and Fracture Shoulder System. The company’s spine business reported $55.4 million, a 10 percent decrease from last year.
Read the release on the financial report for Biomet (pdf).
Related Articles on Biomet:
Biomet Co-Founder Recognized as Entrepreneurial Leader
Biomet Receives FDA Clearance for Articulation E1 Hip System
Biomet Parnters With OMeGA to Fund Orthopedic Residents
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.