The company attributed the decline to lower customer product launches, pricing pressures and poor execution at Swiss facilities. Thomas J. Hook, president and CEO, said the company has suffered from operational issues at its facilities, though the specifics of those challenges were not detailed. In response, the company is opening a manufacturing facility in Fort Wayne, Ind., to consolidate orthopedic operations.
More Articles on Orthopedic Devices:
St. Jude Medical Recalls Pain Management Implant
Biomet Completes $1B Debt Offering
Mako Surgical Shareholders File Lawsuits Alleging Inflated Stock Prices
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