During the fourth quarter, the company’s orthopedics business reported $586 million, which is a slight increase from the same period last year. For the full year, the orthopedics business grew by 3 percent to $2.1 billion. Overall full year revenue grew by 4 percent in 2011 over 2010 to $4.2 billion.
Smith & Nephew CEO Olivier Bohuon credited the company’s rigorous management actions for the improvement in the fourth quarter orthopedics business. Fourth quarter revenues were flat in the United States and dropped by 7 percent in Europe after the company decided to take back management of some supply lines in Spain. However, this was balanced by 10 percent growth in the rest of the world.
The company’s knee business experienced flat revenues in the United States. The hip business was also in-line with recent quarters, reflecting the challenge of metal-on-metal implant designs. The company’s endoscopy business grew by 7 percent to $249 million, with sales of its sports medicine and arthroscopy business capturing a significant portion of that growth.
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