Company Revenue Reports

The company's sales accelerated through 2Q20 and grew in the high single digits in July, but it cautioned that the new patient pipeline could slow in 2H20.

While COVID's impact moderated somewhat in 2Q20, ConMed believes increasing unemployment rates could further depress surgical volumes.

The company mitigated substantial product revenue losses in 2Q20 through a royalty payment from Zimmer Biomet to settle a patent infringement dispute.

The company exited 2Q20 with double-digit growth that accelerated to the mid-teens in July as new products and competitive rep hiring drove share gains.

The company believes patient backlogs contributed significantly to volume acceleration observed in 2Q20, while new patient volumes remain depressed.

A quicker than expected market recovery mitigated COVID's impact on the company's 2Q20 revenue as Zimmer Biomet shifts its focus to high-growth segments.

The company exited June 2020 with revenues up +42% compared to the prior year as it benefitted from a backlog of procedures rescheduled in March and April.

Sports medicine revenue from the acquisition of Parcus Medical and Arthrosurface helped Anika navigate the low point of the COVID orthopedic market in 2Q20.

While the company's orthopedic segments continue to recover from the April low point, the Mako robotic system continued its strong growth trend in 2Q20.

The company's orthopedic sales fell -34% in 2Q20, but Smith+Nephew is strategically positioned to benefit from the acceleration in ASC procedures.