The Centers for Medicare and Medicaid Services (CMS) has extended bundled pricing for hip and knee replacements for three years. The final rule, published in the Federal Register, extends the “Comprehensive Care for Joint Replacement” cost-bundling program through Dec. 21, 2024. The cost-cutting program began in January 2016, when CMS required all hospitals in 67 geographic […]
Orthopedics
Orthofix beats The Street in Q1 results
Orthofix (NSDQ:OFIX) posted first-quarter results today that beat the consensus forecast on Wall Street. The Lewisville, Texas-based company reported losses of -$5.8 million, or -30¢ per share, on sales of $105.6 million for the three months ended March 31, for a sales growth of 0.73% compared with Q1 2020. Adjusted to exclude one-time items, earnings per […]
Smith+Nephew revenue up 11.5% in Q1
Smith+Nephew (LSE:SN, NYSE:SNN) today reported that Q1 revenue was up 11.5% year-over-year, to $1.264 billion. The British medtech giant saw year-over-year revenue growth for all three franchises: Orthopaedics was up 1.6%, with strong hip implants and trauma and extremities devices growth offset by weaker-than-anticipated knee implant sales. Sports Medicine & ENT was up 10.4% underlying, […]
Stryker’s Mako could be an MVP for Minor League Baseball
Stryker (NYSE:SYK) announced today that it is working with Minor League Baseball as the official joint replacement partner for the organization. Kalamazoo, Mich.-based Stryker has been designated as “The Official SmartRobotics Joint Replacement Partner of Minor League Baseball (MiLB),” according to a news release. The company is also the presenting partner of “Own the Walk,” […]
Conventus-Flower Orthopedics partners with Red One Medical
Coventus-Flower Orthopedics today announced a partnership with Red One Medical to improve patient care in U.S. veterans and military members. Convents-Flower develops a single-use, sterile packaged implant and instrument kit that is always ready for surgery, according to the company. Its Ready-For-Surgery portfolio provides instrumentation while minimizing infection risk. Get the full story on our […]
MiMedx slides before hours on mixed bag Q1 results
MiMedx (NSDQ:MDXG) posted first-quarter results that beat the earnings consensus and were in line with revenue estimates on Wall Street. The Marietta, Ga.-based company reported losses of -$8.4 million, or -9¢ per share, on sales of $59.9 million for the three months ended March 31, for a sales loss of -2.87% compared with Q1 2020. […]
Stryker sees pandemic sales effects softening
Stryker (NYSE:SYK) executives see hip and knee procedures growing in 2021, based on a trend that started in March and continued in April. Such elective procedures were still sluggish in early 2021 due to the pandemic. Still, regional recovery from COVID-19 — particularly in the U.S. and Asia — bodes well for the company, CEO […]
Boston Scientific, Stryker may get extension on Medicare payments
CMS has issued a proposal for the 2022 fiscal year that would potentially help big medtech companies like Boston Scientific and Stryker. Released yesterday, the proposal for the Medicare Hospital Inpatient Prospective Payment System (IPPS) and Long Term Care Hospital (LTCH) offers updated Medicare payment policies and rates for operating and capital-related costs of acute […]
Orthofix signs exclusive licensing agreement for Igea’s bone and joint stimulation devices
Orthofix (NSDQ:OFIX) today said it entered an exclusive license agreement to commercialize Igea‘s bone, cartilage and soft tissue stimulation products in the U.S. and Canada. Through the agreement, Orthofix has the rights to pursue FDA approvals and commercialization of Italy-based Igea’s platform of orthopedic products. Orthofix will market the products, which will expand its bone […]
Stryker misses on Q1 results, but is more optimistic about 2021
Stryker (NYSE:SYK) today posted results that missed the Wall Street consensus, even as the company upped its earnings guidance for the full year. The Kalamazoo, Mich.–based orthopedic device giant reported profits of $302 million, or $0.79 per share, on sales of $3.953 billion for the three months ended March 31, 2021, for a bottom-line decline […]
The 10 largest orthopedic device companies in the world
Pent-up demand could make orthopedic devices a hot space in 2021. The COVID-19 pandemic was especially brutal for the orthopedic device industry. Many of the largest companies in the space saw double-digit percentage declines in revenue in 2020. Health providers delayed or canceled elective procedures to focus on the pandemic, and patients stayed away in […]
