Despite the COVID-19 pandemic's effect on the spine industry, innovation and mergers and acquisitions activity continues to pick up steam among medtech companies in 2022.
Spinal Tech
Smith+Nephew reported a 14 percent increase in revenue for 2021 in its year-end financial results released Feb. 22.
Medtronic saw increases in its worldwide revenue and neuroscience sales during the third quarter of fiscal year 2022, according to financial results posted Feb. 22.
Safe Orthopaedics has partnered with Brainlab to create navigable surgical tools, the devicemaker said Feb. 21.
Gramercy Extremity Orthopedics' distal fibular ankle fracture plating system and multi-application extremity plating system received FDA approval, the devicemaker said Feb. 21.
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Globus Medical saw $250 million in sales in the fourth quarter of 2021 and $958.1 million in full-year sales, according to financial results posted Feb. 17.
In the last week, two European spine devicemakers raised a total of $75.6 million in capital to launch products in the U.S.
Devicemaker Nexus Spine named Steve Cichy as vice president of sales, according to a Feb. 17 news release.
Switzerland-based devicemaker Neo Medical landed $20.6 million in funding to support the U.S. launch of an augmented reality spine system.
Two orthopedic devices debut, and three more updates from spine and orthopedic medtech companies in the last week: