Smith & Nephew reported revenue of $1 million for the second quarter of 2013, a 3 percent increase on an underlying basis over the same period last year.
The company recently acquired Healthpoint Biotherapeutics, which made a positive impact on the financial report, while the orthopedic reconstructive business had a slow quarter. The company predicts a better second half of the year for the orthopedics market.
In the United States, revenue grew 3 percent but was flat in international markets and weak in Europe. The knee and hip implant revenue both dropped 1 percent, due to the company's position in the product cycle versus competitors, its relatively high exposure to the weak European market and metal-on-metal headwinds, according to a company report.
The company's sports medicine joint repair franchise saw 6 percent revenue growth and the company anticipates new product launches in this franchise for the second half of the year. Trauma revenue also grew 2 percent.
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