The increase was driven by similar jumps in the company’s reconstructive, MedSurg, neurotechnology and spine business lines. The company also reported a net earnings increase of 14 percent to $350 million.
Acquisitions in the spine and neurotechnology businesses drove a 12.4 percent net sales increase, while increased unit volume and changes in product mix also contributed to the business line’s success.
The company’s knee and hip business lines also reported a net sales increase of 3.3 percent and 5.1 percent, respectively. During the first quarter, the company incurred $17 million in acquisition- and integration-related charges for Neurovascular, Orthovita, Memometal and Concetric acquisitions.
More articles on Orthopedic Devices:
DePuy Spine Launches Pedicular Screw System for Spinal Fusions
Medtronic Launches Electronic Power Instruments for Spinal Surgery
17 Spine Devices Receive FDA 510(k) Clearance in March
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.
