Medtronic’s (NYSE:MDT) bellwether 4th quarter and full-year earnings noted a continued decline in U.S. cardiac rhythm management and spinal products, but the slump may be slowing, the company said.
Orthopedics
Welcome to MassDevice's Orthopedics Hub, your resource for the latest in orthopedic news. Stay informed about the innovations and business news shaping the ortho device industry.
🦴 Narrow your focus with these categories:
Implants | Metal-on-Metal | Spine
Here are the top orthopedic device features from MassDevice and its sister publications (and scroll down to read the latest cardiology device news from MassDevice):
+ The biggest stories from AAOS 2024
+ The 10 largest orthopedic device companies in the world
+ The ZimVie Tether helps kids with scoliosis — if they can get it in time
+ Could 2023 be a boom year for orthopedic devices?
+ The top orthopedic device news out of AAOS 2023
Latest Orthopedics News
Justice Dept. closes criminal, civil probe into Medtronic’s Infuse
The U.S. Justice Dept. closed the books on a years-long investigation into Medtronic‘s (NYSE:MDT) controversial Infuse bone growth protein, the company announced today.
The office of the U.S. Attorney for the District of Massachusetts and the DoJ abandoned their civil and criminal probe into allegations of off-label marketing and concealed safety risks without finding evidence of wrongdoing, according to a press release.
Lawsuit: Whistleblower accuses Medtronic of installing crony in spine journal to promote Infuse
St. Jude Medical’s largest backer boosts stake by 30% | Wall Street Beat
St. Jude Medical‘s (NYSE:STJ) largest investor boosted its stake by more than 30%, to some 27.2 million shares, or about 10% of the medical device maker.
NuVasive delights Wall Street with Q1 numbers
NuVasive Inc. (NSDQ:NUVA) CEO Alex Lukianov is aiming to take the #3 spot in the spinal implant market and has set his sights on the $1 billion sales mark, after NuVasive’s 1st-quarter results showed it taking market share from its larger rivals.
That seems to be music to Wall Street’s ears, as investors bid shares up more than 23% yesterday and analysts issued a slew of upgrades for the San Diego-based company.
FDA warns Extremity Medical on unreported defects and mis-branded ortho devices
The FDA filed a formal warning against New Jersey-based orthopedics maker Extremity Medical for failures in device surveillance and malfunction reporting.
The federal watchdog agency noted 2 instances of device malfunction "that may have caused or contributed to a death or serious injury" and which were not reported to the FDA within the 30-day window.
Extremity filed a response but it was not reviewed because it was not received within 15 days of the FDA’s initial inspection report, according to the warning letter.
Zimmer slides on Q1 results | Earnings Roundup
Zimmer slides on Q1 results
Investors sent shares of Zimmer (NYSE:ZMH) down 5% this morning in pre-market trading after the orthopedic device maker reported sales and earnings in-line with Wall Street’s expectations, but lackluster sales of hip and knee implants.
The Warsaw, Ind.-based company posted profits of $209.6 million, or $1.17 per diluted share, on sales of $1.14 billion for the 3 months ended March 31.
EU clears J&J’s $21B Synthes buyout | Wall Street Beat
Johnson & Johnson‘s (NYSE:JNJ) move to ditch its DePuy trauma business mollified EuroZone anti-trust regulators enough to win their approval for its $21.3 billion buyout of Synthes Inc.
Stryker ticks up on beat & meet Q1
Investors added about 1% to shares of Stryker (NYSE:SYK) today after the orthopedic device maker’s 1st-quarter sales beat Wall Street’s expectations and its earnings meet consensus forecasts.
Kalamazoo, Mich.-based Stryker posted profits of $350 million, or 91¢ per diluted share, on sales of $2.16 billion for the 3 months ended March 31, for a bottom-line gain of 14.0% and top-line growth of 7.2%.
MassDevice.com +3 | The top 3 med-tech stories for April 18, 2012.
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This feature of MassDevice.com’s coverage highlights our 3 biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.