Becker's Spine Review

37 DEVICES & IMPLANTS Medtronic sees Q2 growth in neurosurgery: 5 notes By Marcus Robertson M edtronic's cranial and spine technologies division saw a slight revenue decrease in the second quarter of the 2022 fiscal year, and the company earned $7.84 billion in total revenue. e financial results were posted Nov. 23. Five things to know: 1. Cranial and spinal technology business saw revenue of $1.07 billion, down 1 percent compared to the same period last year. 2. Spine and biologics decreased at a mid-single-digit percentage, and neurosurgery grew at a high single-digit percentage year over year. e company noted continued strong sales for Medtronic's surgical robots including Mi- das Rex, StealthStation and O-arm imaging. 3. U.S. revenue was nearly $4 billion, a 1 percent de- crease year over year. Non-U.S. revenue was $2.48 bil- lion, a 1 percent increase year over year. 4. Medtronic's neuromodulation business revenue grew 6 percent to $435 million. Brain modulation grew at a mid-20s percentage, driven by the launch of the Per- cept PC and SenSight deep brain stimulation systems. Pain therapy business decreased at a mid-single-digit percentage. 5. Medtronic adjusted its earnings guidance and expects a 7 percent to 8 percent increase in total revenue in fiscal 2022. It previously projected a 9 percent increase. "Our second quarter results reflect focused execu- tion of our strategy and the strong underlying health of the business, despite the market impact of the pandemic resurgence and healthcare system staffing challenges on medical procedure volumes, particu- larly in the U.S., which affected our quarterly reve- nue growth," CEO Geoff Martha said. n Stryker's orthopedic sales jump 16.1% in Q3: 5 insights By Alan Condon O rthopedic device manufacturer Stryker posted $4.2 billion in third-quarter net sales, with orthopedic sales up 16.1 percent year over year to $1.5 billion. Five insights: 1. The $4.2 billion in net sales represents an 11.3 percent increase over the company's performance in the third quarter of 2020 and a 16 percent increase over the same period in 2019, according to an Oct. 28 news release. 2. Year over year for the third quarter, knee sales increased 0.8 per- cent to $439 million, hip sales fell 1.6 percent to $328 million and trauma and extremities sales were up 49 percent to $639 million. 3. Third-quarter neurotechnology and spine sales were $876 million, a 7.3 percent increase compared with the same period last year and a 13.7 percent increase compared with 2019. 4. Stryker's net earnings were $438 million in the third quarter, a 29.5 percent year-over-year decrease. 5. "This latest [COVID-19] spike mostly impacted our U.S. implant-relat- ed businesses as scheduled procedures were deferred," CEO Kevin Lobo said in the release. "Despite those impacts, we delivered strong growth in our MedSurg and NeuroTech businesses and are ready to support our customers as the pandemic recedes." n Zimmer Biomet's hip, knee sales dip in the 3rd quarter: 5 takeaways By Carly Behm Zimmer Biomet's orthopedic and spine sales dipped in the third quar- ter, according to financial results posted Nov. 4. Five takeaways: 1. Knee sales were down 3.5 percent year over year in the U.S., netting $386.3 million. Globally, the revenue decrease was 0.1 percent, and total knee sales were $647.9 million. 2. Hip sales were $244.2 million in the U.S., down 9.1 percent. Glob- al hip sales were down 6.3 percent from the same time last year at $453.8 million. 3. Zimmer Biomet's spine and dental business, ZimVie, saw a 5.8 per- cent decrease in revenue year over year. Revenue was $238.6 million. 4. The company's sports medicine, extremities, trauma, craniomaxillo- facial and thoracic business saw a 4.9 percent year-over-year increase in sales at $437.6 million. 5. Highlights for Zimmer Biomet from the third quarter include FDA approval of the Rosa hip system for robotic surgery and FDA de novo classification for the tibial extension for Persona IQ, a smart knee im- plant. n

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