The company’s global revenue also increased 7.8 percent to $3.9 billion. In April 2011, Synthes announced a merger agreement with Johnson & Johnson, which is expected to close soon. The acquisition caused an increase in operating expenses to 49.2 percent last year.
During the fourth quarter of 2011, the company experienced a 1.6 percent increase in consolidated sales to $991.7 million. Sales growth was reported in the European and Asian Pacific markets, but declined in the rest of the world due to a high competitive base.
In the North American market, the company experienced stable sales in the spine market despite declining procedure volumes, pricing pressure and reimbursement hurdles for coverage of degenerative disc disease indications. Synthes reported growth in the posterior lumbar fixation segment.
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