The company drastically reduced net debt over the past year, which went from $351 million during the first quarter of 2011 to $28 million over the same period in 2012. The company’s knee implant business was up 6 percent over the first quarter last year, driven by the Legion Revision Knee System.
The company’s hip implant business dropped 2 percent due to the continuing controversy surrounding metal-on-metal total hip implants. Sales of the company’s Birmingham Hip Resurfacing system suffered. Its sports medicine joint repair business grew by 7 percent, and the arthroscopy enabling technologies business was up 1 percent.
More Articles on Orthopedic Devices:
Wright Medical Group Sales Fall 6% After Distributor Transitions
Exactech Hip & Knee Revenue Up, Spine Drops 13%
DJO Global Net Sales Jump 11.7%
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.
