Issue link: https://beckershealthcare.uberflip.com/i/704577
17 PRACTICE MANAGEMENT SPINE DEVICE & INNOVATION Johnson & Johnson — Q1 of fiscal year 2016 1. Johnson & Johnson, the parent company of DePuy Synthes, reported sales of $17.5 billion, an increase of 0.6 percent compared to the first quarter of 2015. 2. e company's net earnings totaled $4.3 billion and the diluted earnings per share were $1.54. 3. e company's worldwide medical devices sales hit $6.1 billion, a decrease of 2.4 percent compared to the same period the year prior. 4. e company updated the 2016 full-year sales guidance to between $71.2 billion to $71.9 billion. 5. DePuy Orthopaedics, part of the DePuy Synthes Companies of Johnson & Johnson, recently acquired BioMedical Enterprises. BioMedical Enterprises manufactures Nitinol orthopedic implants for small bone fixation. Nitinol is a nickel-titanium alloy that provides dynamic continuous active compression. Medtronic — Q4 of fiscal year 2016, as Medtronic ends its fiscal calendar year on the last Friday in April 1. e company reported fourth quarter worldwide revenue of $7.57 billion, compared to the $7.30 billion reported in the fourth quarter of 2015, a 4 percent increase, or 6 percent on a constant currency basis. 2. Fourth quarter 2016 non-GAAP net in- come was $1.79 billion. 3. Medtronic's 2016 revenue totaled $28.83 billion, while 2016 net earnings were $3.54 billion. 4. U.S. revenue in the fourth quarter of 2016 reached $4.22 billion, which represented 56 percent of company revenue. Non-U.S. devel- oped market revenue totaled $2.39 billion. 5. e company's minimally invasive therapies group saw worldwide revenue of $2.46 billion in the fourth quarter of 2016 — a 3 percent increase, or 6 percent on a constant currency basis, from the same period last year. 6. The restorative therapies group, which includes the spine, neuromodulation, surgical technologies and neurovascular, re- ported worldwide fourth quarter revenues of $1.88 billion. 7. Fourth quarter revenue for the spine busi- ness was $737 million, down 1 percent from the same period last year. Core spine and interventional spine both delivered improved growth. Full-year 2016 revenue from the spine business totaled $2.92 billion world- wide, down 2 percent from 2015. 8. BMP declined in the low-single digits on a constant currency basis. Mid-single digit growth in the United States only partially off- set the continued loss of BMP sales in Europe as a result of a product hold. 9. In May, Medtronic signed two agree- ments with Mazor Robotics. The first is a two-stage, multi-faceted commercial agree- ment for co-promotion and development and distribution of Mazor products. The second is an equity investment Medtronic made in Mazor. 10. Medtronic also launched Spine Essen- tials in May at the Ambulatory Surgical Center Association annual meeting in Dallas. Spine Essentials is a platform of spinal implants and instruments intended to make cervical spine fusion procedures more efficient. n 636.273.6711 • nationalASCbilling.com BECAUSE SPECIALIZATION MATTERS THE ASC REVENUE CYCLE. It's all we do. It's all we think about. And it shows. REVENUE CYCLE MANAGEMENT | MANAGED CARE CONTRACTING | CODING | BUSINESS ANALYTICS | CONSULTING 2 0 1 5 Highest Rated CEOs 2015