Six things to know:
1. First quarter companywide revenue hit $1.2 billion, with organic growth across all three of its global franchises. Knee revenue was up 0.6 percent to $261 million, hip revenue dropped 1.5 percent to $152 million and trauma was up 1.3 percent to $119 million.
2. Smith & Nephew’s sports medicine joint repair business grew 7.7 percent to $188 million and arthroscopic enabling technologies revenue dropped 4.8 percent to $145 million.
3. U.S. revenue was up 4.2 percent to $568 million while revenue in other established markets dipped 6.8 percent to $415 million. Emerging markets revenue jumped 6.8 percent to $219 million.
4. Smith & Nephew acquired several companies recently, including Ceterix Orthopaedics, Osiris Therapeutics, Leaf Patient Monitoring System and Brainlab’s orthopedic navigation business.
5. Smith & Nephew expects to launch Navio 7.0, the next generation of software for the handheld robotic surgical system in the second half of the year, pending FDA clearance. The next generation robotics platform is expected to have a full commercial release next year.
6. The company expects full year revenue growth of 2.9 percent to 3.9 percent, and 2019 trading margins are expected to hit 22.8 percent to 23.2 percent.
More articles on orthopedic devices:
Aurora Spine revenues increased 45% in 2018
Life Spine’s SImpact sales jump 73% in Q1
Stryker sales up after K2M acquisition & more: 6 device company key notes
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