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Product / Company Performance
ConMed Reports 3Q16 Orthopaedic Revenue
ConMed posted 3Q16 arthroscopy/soft tissue repair revenue of US $86.3MM, -3.5% vs. 3Q15. (U.S. and ex-U.S. also -3.5%) All growth is as-reported.
- 3Q16 growth was a sequential improvement (2Q16 revenue was -4.2%), with capital sales rebound offset by weakness in single-use resection products
- U.S. headwinds include competitive market, dated product portfolio
- Ex-U.S., growth in single-use sales offset declines in capital within direct markets
- Turnaround initiatives include revamp of marketing team and a focused list of R&D projects and priorities
- Other initiatives include focus on new products, efforts with Musculoskeletal Transplant Foundation and Sports Medicine as well as continued development of capital pipelines
- Continued to advance global launch of Edge Bipolar arthroscopic system, including the Africa, Asia, Australia, Canada, Europe, Latin America, the Middle East and the U.S.; pending regulatory clearance in Korea and Taiwan
- Positive feedback on Edge system conversions relates to ablation performance, simplified SKU offering, real-time intra-articular temperature monitoring and automatic scope saving features
Sources: ConMed Corporation; ORTHOWORLD Inc.
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