From financial updates to new Medicare policy, here are eight key updates from spine and orthopedic devicemakers since July 24.
1. Stryker saw an 8.5% year-over-year increase in net sales during the second quarter of 2024. Net sales were $5.4 billion. The company's med-surg and neurotechnology segment saw $3.1 billion in sales, a 9% increase year over year.
2. Camber Spine earned FDA 510(k) approval for its Spira-A integrated fixation system.
3. Alphatec reported second quarter revenue of $146 million. Second quarter revenue grew 25% year over year, and surgical sales grew 27%.
4. MiRus earned the FDA's breakthrough device designation for the Europa posterior cervical system.
5. Carlsmed's aprevo spine implants earned favorable payment coverage from Medicare, the devicemaker said Aug. 5. Under CMS' Hospital Inpatient Prospective Payment System Final Rule for fiscal year 2025, spinal fusions with aprevo will be covered, and the rule will go into effect Oct. 1.
6. Orthofix saw second quarter sales rise year over year in the second quarter of 2024. Net sales of $198.6 million represent a 6% year-over-year increase. U.S. spine fixation sales grew 12% year over year, and this was largely driven by distribution expansion and growing in existing markets.
7. Globus Medical saw net sales of $629.7 million in the second quarter. Net sales grew 115.9% year over year, and the company also saw net income of $31.8 million.
8. Zimmer Biomet's second quarter sales reached $1.9 billion. Highlights of the quarter include plans to acquire OrthoGrid Systems, forming a partnership with CBRE Group for ASC growth and a partnership with RevelAiHealth. The company also signed a definitive agreement to acquire OrthoGrid Systems.