The latest earnings season not only provided insights from top medtech CEOs about how the COVID-19 pandemic is changing the industry, but also lessons learned going forward. Here are five top quotes about lessons learned. Next>> DeviceTalks editorial director Tom Salemi contributed to this report.
Zimmer Biomet beats The Street in Q2 results
Zimmer Biomet (NYSE:ZBH) posted second-quarter results today that beat the consensus on Wall Street. The Warsaw, Ind.-based company report losses of -$208.2 million, or -$1.00 per share, on sales of $1.2 billion for the three months ended June 30, for a bottom-line sales loss of -37% compared with Q2 2019. Adjusted to exclude one-time items, earnings […]
Zimmer Biomet recalls certain implants in Europe over toxin risk
Zimmer Biomet (NYSE:ZBH) has issued a recall for an unspecified number of polyethylene orthopedic implants in Europe due to the possible presence of elevated endotoxin levels. In a recall notice dated April 30, 2020, but published Thursday, the company said the issue was discovered during routine bacterial endotoxin testing of polyethylene implants. Three polyethylene implant samples […]
Zimmer Biomet updates remote care system used with Apple Watch
Zimmer Biomet (NYSE:ZBH) this week said it is creating a remote care management system with new MyMobility features on the Apple Watch. The new features expand upon existing work between Apple and Zimmer Biomet, who launched the care management system in October 2018 to transform pre- and post-operative joint replacement experience. MyMobility’s features Measure gait quality, […]
Medartis appoints VP of EMEA
Medartis this week said it appointed Mareike Loch as VP of EMEA, effective August 17. Loch has more than 23 years of experience in orthopedics. She most recently served as VP of EMEA for the trauma, extremities, foot and ankle, sports medicine and biologics business units at Zimmer Biomet. She has also held a number […]
Moody’s lowers its medical device industry earnings forecast
Medical device industry earnings will remain flat over the next 12 to 18 months as people hold off on medical procedures amid the COVID-19 pandemic and resulting recession, according to a new report from Moody’s. Moody’s had previously projected of 2–4% annual growth. “While underlying positive trends remain, including ongoing innovation and favorable longterm demographics, […]
Zimmer Biomet to pay Conformis $9.6m to settle patent disputes
Conformis (NSDQ:CFMS) and Zimmer Biomet (NYSE:ZBH) have agreed to settle all patent disputes over Conformis’ knee and hip replacement products and Zimmer’s knee, shoulder and hip replacement devices, according to an SEC filing today. The two companies have also agreed to cross-license their respective technologies, and Zimmer Biomet will pay Conformis $9.6 million by January 15, 2021, […]
Zimmer Biomet loses $509m in Q1, expects significant negative impact in Q2
Zimmer Biomet (NYSE:ZBH) today reported first-quarter results that failed to meet the consensus forecast on Wall Street, with the company warning that the COVID-19 pandemic will have a “significant negative impact” in Q2. The Warsaw, Ind.–based orthopedic device giant lost $509 million, or –$2.46 per share, on sales of $1.78 billion for the three months ended […]
White House gives elective procedures green light
Shares of two of the largest orthopedic device companies started climbing this morning on news of a new White House recommendation that elective surgical procedures may resume. Shares of Zimmer Biomet (NYSE:ZBH) were up 6.42% to $116.45 apiece in mid-morning trading and those of Stryker (NYSE:SYK) had risen 5.28% to $184.20.on both an inpatient and outpatient basis […]
FDA issues 510(k) for OrthoSensor knee arthroplasty sensor
The FDA issued 510(k) clearance to OrthoSensor for its Verasense sensor-assisted technology, which the company says is the only single-use intelligent sensor that measures tibial coronal alignment and ensures soft-tissue balance. The sensor is used during primary and revision total knee arthroplasty along with the Zimmer Biomet Persona knee implant system. It’s then discarded. According […]
Zimmer Biomet CEO forgoing his salary amid coronavirus pandemic
Zimmer Biomet (NYSE:ZBH) announced that president & CEO Bryan Hanson is forgoing 100% of his salary among other steps the company is taking in response to the COVID-19 pandemic. The orthopedics company said after yesterday’s market close that it is cutting pay for its leadership team and board of directors. According to Zimmer Biomet’s most recent […]
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