Smith+Nephew said today that it now expects 6–7% revenue growth this year, up from a previous 5–6% growth projection. The British orthopedic and sports medicine products company also announced that CFO Anne-Françoise Nesmes will step down during the second quarter of 2024 and that the board has initiated an external search for a successor. Revenue […]
Dentsply Sirona beats The Street in Q2, raises guidance
Dentsply Sirona reported Street-beating Q2 results and upped its full-year guidance, citing solid performance across its business segments. The Charlotte, North Carolina–based dental products and equipment company yesterday evening reported a net income of $86 million, or 40¢ per share, on sales of $1.028 billion for the three months ended June 30, 2023. Earnings were […]
NuVasive reports mixed Q2 results ahead of expected merger with Globus Medical
NuVasive officials still plan to close the spine tech company’s merger with Globus Medical in the present quarter, despite the FTC scrutiny. Along with reporting mixed second-quarter results, NuVasive CEO Chris Barry yesterday evening stuck by plans to merge with Globus Medical in the third quarter and create what would be the second-largest spine tech […]
Henry Schein to buy Shield Healthcare in homecare products play
Henry Schein announced today that it will acquire a majority stake in homecare medical products supplier Shield Healthcare. Henry Schein officials see the move as bolstering the company’s commitment to facilitating a continuum-of-care delivery model. Shield Healthcare (Valencia, California) operates in the homecare medical supplies space, posting net sales of around $180 million in 2022. […]
Siemens Healthineers reports temporary logistics challenges at Varian
News of some outbound logistics challenges holding back revenue at Varian helped send Siemens Healthineers (ETR: SHL) stock down today. SHL shares were down more than 5% to €49.16 apiece on the Xetra exchange in Germany. Excluding the declining rapid COVID-19 antigen test business at Siemens Healthineers, comparable revenue growth was at 10.1% during the […]
Nevro stock is down on slashed 2023 guidance
Nevro (NYSE: NVRO) stock lost more than a fifth of its value this morning — a day after the maker of spinal cord stimulation devices greatly reduced its full-year guidance. Redwood City, California–based Nevro now expects full-year 2023 revenue of roughly $410–415 million, an increase of 1–2% over 2022. The previous guidance was for $445–455 […]
Zimmer Biomet beats The Street in Q2 — but it may not be enough
Zimmer Biomet today reported second-quarter results that beat Wall Street’s analysts’ expectations, again upping its guidance for the year. “We’re pretty happy about the results we get to discuss today,” CEO Bryan Hanson told analysts. He added that the Warsaw, Indiana–based orthopedic device giant achieved its results in the face of significant macroeconomic challenges affecting […]
Court rejects Johnson & Johnson bankruptcy gambit over talc suits
A U.S. bankruptcy judge in New Jersey has dismissed a Johnson & Johnson-created company’s bankruptcy filing to resolve talc-related lawsuits. Judge Michael Kaplan’s ruling on July 28 was similar to a U.S. Court of Appeals for the Third Circuit ruling months ago, which failed to find immediate financial distress over the lawsuits. As recounted in […]
Integra Lifesciences expects to resume manufacturing in Boston
Integra LifeSciences (NASDAQ: IART) recently announced that it plans to resume manufacturing in its Boston facility by the end of the fourth quarter. Just two months before, Integra voluntarily recalled all tissue-related products made in Boston and distributed between March 1, 2018 and May 22, 2023. The recalled products included SurgiMend, PriMatrix, Revize and TissueMend. […]
Abbott is pulling its Trifecta valves off the market
Abbott announced today that it is withdrawing its Trifecta family of heart valves from worldwide markets. The market withdrawal comes more than five months after Abbott and the FDA told health providers that the valves could deteriorate early. In a statement shared with MassDevice, the company said: “Abbott has decided to withdraw and discontinue its […]
Integer’s Q2 results blow past expectations
Medtech contract manufacturing giant Integer saw its stock rise more than 7% today on Street-busting second-quarter results. Plano, Texas–based Integer earned nearly $24 million, or 71¢ per share, off of $400 million in revenue for the quarter that ended June 30, 2023. The bottom line was up 15%, and the top line rose 14% compared […]