Here are six key notes the financial reports for eight large orthopedic and spine device companies based on their nine month financial reports, unless otherwise noted.
DePuy Synthes
1. Company sales: $6.9 billion
2. Percent change over last year: 1.6 percent
3. Spine sales: $2.8 billion
4. Knee sales $1.1 billion
5. Hip sales: $1 billion
6. U.S. spine sales: $1.6 billion
Zimmer Biomet
1. Company sales: $5.6 billion
2. Percent change over last year: 39.5 percent
3. Spine sales: $470 million
4. Knee sales: $2 billion
5. Hip sales: $1.3 billion
6. Full year revenue projection: $7.63 billion to $7.65 billion
Stryker
1. Company sales: $8.1 billion
2. Percent change over last year: 13 percent
3. Spine sales: $559 million
4. Knee sales: $1 billion
5. Hip sales: $949 million
6. Full year organic sales growth projection: 6 percent to 6.5 percent
Smith & Nephew
1. Company revenue: $3.4 billion
2. Percent change over last year: 2 percent
3. Sports medicine revenue: $428 million
4. Knee revenue: $685 million
5. Hip revenue: $444 million
6. Advanced wound management revenue: $906 million
Medtronic*
1. Company revenue: $7.3 billion
2. Percent change from last year: 4 percent
3. Spine revenue: $663 million
4. Pain therapies revenue: $288 million
5. Surgical Solutions revenue: $1.3 billion
6. Quote from CEO Omar Ishrak about the quarter: "Q2 revenue was disappointing and did not meet our expectations. We faced issues that affected our growth, including slower than expected revenue as we await new product introductions, particularly in CVG and diabetes."
NuVasive
1. Company revenue: $690.9 million
2. Gross profit: $517 million
3. GAAP net income: $30,771
4. Operating expenses: $424.3 million
5. Full year revenue projections: $952 million
6. Quote from Chairman and CEO Gregory T. Lucier: "While our revenue results for the [third] quarter were lower than our expectations due to capital and stocking orders in the United States that did not come through late in the quarter as planned, we believe this minor disruption is temporary."
K2M
1. Company revenue: $174.8 million
2. Percent change from last year: 8.1 percent
3. Complex spine revenue: $53.98 million
4. Minimally invasive revenue: $20.65 million
5. Degenerative revenue: $58.77 million
6. Net loss: $29 million
Globus Medical
1. Company sales: $412 million
2. Gross profit: $316 million
3. Innovative fusion sales: $207.98 million
4. Disruptive technology sales: $204.4 million
5. United States sales: $372.7 million
6. Full year sales projections: $560 million
*Numbers are for the second quarter of the fiscal year, the most recent company report.