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%
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