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:
MAKO Surgical 2Q Revenue Reaches $18.6M, 81% Increase
Alphatec Holdings Reports 2Q Revenue of $50.9M, 12% Increase
Wright Medical Group Reports 4% Net Sales Increase Driven by International Market Growth
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 18–20 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
