Our list of the largest orthopedic device companies has changed a lot since last year. A change in methodology means there is a new company at the top of this year’s MassDevice and Medical Design & Outsourcing ranking of the world’s largest orthopedic device companies. But mergers and spinoffs also added to the list two […]
Conmed
Conmed appoints new chief operating officer
Conmed announced that it promoted Patrick Beyer to the newly created role of COO. Beyer previously served as president of international and global orthopedics at the Largo, Florida-based company. In his new role, his responsibilities include leading commercial businesses, plus operations, distribution, regulatory/quality and customer excellence. “Pat has been invaluable in driving Conmed’s above-market growth […]
Warehouse problem causes big Q4 miss for Conmed
Conmed (NYSE: CNMD) released Q4 results that missed Wall Street projections by a wide margin due to a previously disclosed warehouse problem. The Largo, Florida–based maker of surgical and patient monitoring products and services earned $26.6 million, or 86¢ per share, off of $250.9 million in sales for the quarter that ended Dec. 31, 2022. […]
Conmed pulls 2022 guidance due to software implementation
Conmed (NYSE:CNMD) announced today that it is withdrawing its full-year outlook over problems implementing software at its main distribution facility. Largo, Florida-based Conmed last month issued its guidance with a reduction from previous projections. This came on the back of an underwhelming third-quarter performance that saw its stock dip by nearly 8%. However, shares of […]
Conmed stock slides on Q3 revenue miss, slashed EPS guidance
Conmed (NYSE:CNMD) shares took a hit today on third-quarter results that missed the consensus revenue forecast. CNMD shares fell 7.8% to $77.15 apiece in morning trading. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — ticked up more than 1%. Despite the revenue miss and EPS guidance cut, […]
Conmed to acquire bioinductive scaffold startup Biorez
Conmed (NYSE:CNMD) this week announced a definitive agreement to acquire medtech startup Biorez. The company will acquire Biorez to enhance its sports medicine soft tissue healing portfolio. It plans to acquire the company on a cash-free, debt-free basis, for a cash consideration of $85 million at closing with up to an additional $165 million in growth-based […]
Conmed stock dips on lowered guidance despite Street-beating Q2
Conmed (NYSE:CNMD) shares are down today on lowered 2022 guidance, even as its Q2 results beat Wall Street expectations. The Largo, Florida–based company posted losses of $168.3 million, or $5.65 per share, on sales of $277.2 million for the three months ended June 30, 2022, for a massive bottom-line slide deep into the red on […]
Conmed completes $145M In2Bones acquisition
Conmed (NYSE:CNMD) announced today that it completed its previously announced acquisition of In2Bones Global. Largo, Florida–based Conmed announced last month that it intended to acquire upper extremities device maker In2Bones Global for $145 million. The $145 million figure was floated for the closing of the acquisition, with up to an additional $110 million in growth-based […]
Conmed beats The Street in Q1, announces $145M deal to acquire In2Bones
Conmed (NSDQ:CNMD) announced that it will acquire In2Bones Global for more than $145 million after it posted first-quarter results that beat the overall consensus on Wall Street. The Largo, Florida–based minimally invasive medical device company on yesterday evening reported profits of $14.96 million, or 47¢ per share, on sales of $242.3 million for the three […]
The best places to work for medtech sales reps in 2022
Teleflex (NYSE:TFX), ConMed (NSDQ:CNMD) and Medtronic (NYSE:MDT) topped the list of best places to work in medtech sales in 2022, according to a MedReps.com survey of medical sales representatives. The 11th annual MedReps survey polled over 2,300 MedReps professionals to determine which medtech sales companies are most sought-after in the industry. Overall, pay and leadership were the most important […]
Conmed posts mixed-bag Q3 results
ConMed (NSDQ:CNMD) this week posted third-quarter results that beat the earning consensus on Wall Street but missed on revenue estimates. The Largo, Florida-based minimally invasive surgical device company reported profits of $14.9 million, or 47¢ per share, on sales of $248.8 million for the three months ended September 30, for a bottom-line gain of 118.2% on […]