The company’s earnings were impacted by the voluntary recall of the Rejuvenate and ABG III modular-neck hip stems, which related charges totaling $230 million. Another $40 million charge was recorded for two additional regulatory matters.
The company reported an increase in neurotechnology and spine net sales, which reached $397 million during the first quarter. The reconstructive net sales increased 1.2 percent to $969 million in the first quarter.
In March, the company completed its acquisition of Trauson Holdings, which will expand the company’s presence in the Chinese orthopedic market.
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