4 Local Companies Highlighted By Spine Publication
January 27, 2018 at 5:51 a.m.
By Dan [email protected]
Of the 19 companies spanning the globe, four are in Warsaw. Those include Zimmer Biomet, OrthoPediatrics, DePuy Synthes and Medtronic, which is headquartered in Ireland, but has a manufacturing plant in Warsaw.
The article, written by Mackenzie Garrity, assessed the outlook based on the companies’ highlights in 2017.
The following are recaps authored by Becker’s Spine Review (in some cases, the synopses have been edited for brevity):
DePuy Synthes – With spine on its mind, DePuy Synthes spent 2017 making strategic developments and relationships for further business growth. The Johnson & Johnson subsidiary acquired Innovative Surgical Solutions, known commonly as Sentio, a nerve localization technology company, to strengthen its spine segment.
Additionally, DePuy Synthes launched its Viper Prime spine system, a minimally invasive pedicle screw system designed for fusion procedures. To establish itself as a minimally invasive techniques developer, DePuy Synthes also unveiled its Purevue Visualization System for endoscopic surgery. The company’s plans to expand its spine business do not have an end in sight.
Medtronic – Hurricane Maria disrupted Medtronic’s manufacturing plant in Puerto Rico in 2017, affecting the company’s bottom line. Second quarter revenues dropped 4 percent, with a $55 million to $65 million impact on revenues.
However, Medtronic expects 2018 fiscal year revenue to have a positive implant of $275 million to $375 million, including a $155 million to $175 million positive impact in the third quarter of the fiscal year.
In 2017, Medtronic also assumed global commercial responsibility for Mazor X installations, and Medtronic purchased 23 of Mazor’s robotic guidance systems. The company recently announced a restructuring plan expected to save $33 billion by 2022.
OrthoPediatrics – The company’s third quarter revenues spiked 22 percent in 2017 to $12.4 million. The pediatric-specific device manufacturer also completed its initial public offering, earning $59.8 million in gross proceeds.
The company didn’t stop developing new products in the third quarter following the launches of the PediFrag Pediatric Specific Clavicle Plate and Medial Patella Femoral Ligament Reconstruction System. OrthoPediatrics continued its success launching a new wrist fusion plate system, which is part of the company’s growing PediFrag brand.
OrthoPediatrics ended 2017 unveiling its 24th surgical system the Titanium PediPlates implant system, expanding the company’s current physeal tethering profile.
Zimmer Biomet – With a major leadership change made in 2017, Forbes listed Zimmer Biomet as one of “America’s Best Larger Employers of 2017.” The orthopedic device manufacturer named Bryan Hanson president and CEO in the past year; he comes to Zimmer with a wealth of knowledge from Medtronic to expand the company’s spine portfolio.
Zimmer Biomet saw a slight drop in third quarter sales with net earnings totaling $98.8 million due to slow pace recovery in key brands as well as slower-than-anticipated sales recapture in the U.S.
However, the company planned to attack hard in the following quarter with revenue expectations of $2 billion to $2.05 billion. To further boost sales and growth, the Zimmer Biomet launched its Vitality+ and Vital Spinal Fixation Systems, which is the first flexible drill as well as a blunted reamer, in the U.S.
Of the 19 companies spanning the globe, four are in Warsaw. Those include Zimmer Biomet, OrthoPediatrics, DePuy Synthes and Medtronic, which is headquartered in Ireland, but has a manufacturing plant in Warsaw.
The article, written by Mackenzie Garrity, assessed the outlook based on the companies’ highlights in 2017.
The following are recaps authored by Becker’s Spine Review (in some cases, the synopses have been edited for brevity):
DePuy Synthes – With spine on its mind, DePuy Synthes spent 2017 making strategic developments and relationships for further business growth. The Johnson & Johnson subsidiary acquired Innovative Surgical Solutions, known commonly as Sentio, a nerve localization technology company, to strengthen its spine segment.
Additionally, DePuy Synthes launched its Viper Prime spine system, a minimally invasive pedicle screw system designed for fusion procedures. To establish itself as a minimally invasive techniques developer, DePuy Synthes also unveiled its Purevue Visualization System for endoscopic surgery. The company’s plans to expand its spine business do not have an end in sight.
Medtronic – Hurricane Maria disrupted Medtronic’s manufacturing plant in Puerto Rico in 2017, affecting the company’s bottom line. Second quarter revenues dropped 4 percent, with a $55 million to $65 million impact on revenues.
However, Medtronic expects 2018 fiscal year revenue to have a positive implant of $275 million to $375 million, including a $155 million to $175 million positive impact in the third quarter of the fiscal year.
In 2017, Medtronic also assumed global commercial responsibility for Mazor X installations, and Medtronic purchased 23 of Mazor’s robotic guidance systems. The company recently announced a restructuring plan expected to save $33 billion by 2022.
OrthoPediatrics – The company’s third quarter revenues spiked 22 percent in 2017 to $12.4 million. The pediatric-specific device manufacturer also completed its initial public offering, earning $59.8 million in gross proceeds.
The company didn’t stop developing new products in the third quarter following the launches of the PediFrag Pediatric Specific Clavicle Plate and Medial Patella Femoral Ligament Reconstruction System. OrthoPediatrics continued its success launching a new wrist fusion plate system, which is part of the company’s growing PediFrag brand.
OrthoPediatrics ended 2017 unveiling its 24th surgical system the Titanium PediPlates implant system, expanding the company’s current physeal tethering profile.
Zimmer Biomet – With a major leadership change made in 2017, Forbes listed Zimmer Biomet as one of “America’s Best Larger Employers of 2017.” The orthopedic device manufacturer named Bryan Hanson president and CEO in the past year; he comes to Zimmer with a wealth of knowledge from Medtronic to expand the company’s spine portfolio.
Zimmer Biomet saw a slight drop in third quarter sales with net earnings totaling $98.8 million due to slow pace recovery in key brands as well as slower-than-anticipated sales recapture in the U.S.
However, the company planned to attack hard in the following quarter with revenue expectations of $2 billion to $2.05 billion. To further boost sales and growth, the Zimmer Biomet launched its Vitality+ and Vital Spinal Fixation Systems, which is the first flexible drill as well as a blunted reamer, in the U.S.
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