Zimmer Biomet Buys LDR To Boost Spine Revenue Growth
The $1 billion acquisition of the maker of the Mobi-C cervical disc replacement is expected to put Zimmer Biomet in a better position in the spine device market.
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David Dvorak has stepped down as president and CEO, and from the company's board, and CFO Daniel P. Florin will take over as interim CEO, the orthopedics giant announced July 11. The company also announced preliminary second-quarter sales and earnings that, while within the previously projected range, included disappointments for several product lines.
Among the medtech companies who have released their first-quarter 2017 sales and earnings, Johnson & Johnson and Merit Medical Systems reported progress in their long-term plans to reshape their medical device businesses, while Abbott and Zimmer Biomet received some bad news in the quarter. Smith & Nephew shows signs of a turnaround, and perennial "winner" Edwards Lifesciences provided updates on some important developments in their flagship transcatheter valve business.
Many medtech companies reported their sales and earnings for all of 2016, along with projections for 2017, at the end of January or early February. Medtech Insight has examined their reports as well as the comments of the analysts who track these companies to highlight a few that had especially good years, some that had down years, and some lesser-known companies worth watching in the future.