The company attributes its success to double-digit growth in international markets, such as Asia Pacific and Latin America. A further driving factor in the growing sales was new product launches in the European markets.
Consolidated net sales in the North American market were $567.3 million, approximately 5 percent higher than the third quarter last year. European net sales were reported as $230.6 million, a 17.3 percent growth. The Asian Pacific market experienced nearly 30 percent growth to $74.8 million.
The company reported satisfactory spine sales despite declining procedure volumes and reimbursement pressures from the United States. The company is currently in the middle of finalizing an acquisition by Johnson & Johnson.
Related Articles on Orthopedic Devices:
More Insurance Companies Now Reimburse for TranS1’s AxiaLIF
Zimmer Signs Distribution Agreement for Benvenue Medical’s Vertebral Compression Fracture Treatment System
Stryker’s Net Earnings Decline, Acquisitions Save Sales Growth
