Stocks of other device giants, such as Zimmer and Wright Medical Group, have increased after Biomet posted strong fourth quarter sales late last week, according to a
Bloomberg Businessweek report.
Biomet reported a net sales increase of 3 percent worldwide to approximately $740 million, while sales in the U.S. alone increased 7 percent. The device manufacturer saw growth in knee sales (4 percent worldwide), hip sales (3 percent worldwide), sports medicine sales (19 percent worldwide) and extremity sales (20 percent worldwide).
Other device makers' shares grew after this report was released. Shares for Zimmer Holdings, Wright Medical Group and Smith & Nephew were up $2.44, $0.36 and $0.30, respectively.
Related Articles on Orthopedic Devices:
Precision Spine Acquires Spinal USA, Precision Medical for $72M
Integra LifeSciences Launches Integra Toe Joint Fusion System
Minimally Invasive TLIF Saves $6k vs. Open Surgery 
