Smith & Nephew reported 2017 revenue of $4.7 billion, a 2 percent increase over 2016.
Here are five things to know:
1. The company's success was driven by greater-than-expected growth in the knee implant market as well as double-digit growth in the emerging markets.
2. The sports medicine, trauma and other lines reported $1.9 billion in 2018, a 1 percent growth over the same period last year. Knee implants were responsible for $984 million, a 6 percent increase year-over-year. Hip sales were flat at $599 million.
3. The company continues to extend indications and geographies of the Navio robotic technology for knee replacements; over the past year, Smith & Nephew launched the total knee replacement application and surgeons completed the first robotics-assisted bi-cruciate retaining total knee procedure with the Journey II XR implant.
4. U.S. revenue was flat at $2.3 billion; other established markets were also flat at $1.6 billion. However, emerging markets experienced 13 percent growth to $781 million.
5. The company expects revenue to increase 3 percent to 4 percent in 2018, with its Accelerating Performance and Execution program driving an annualized benefit of $160 million by 2022.
"In 2018, I expect Smith & Nephew to build on 2017 by delivering another year of improved performance driven by our strong product portfolio and pipeline of innovative products," said CEO Olivier Bohuon. The APEX program is expected to realize a change of about $100 million in 2018.