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Product / Company Performance

Smith & Nephew Reports 1Q19 Orthopedic Revenue of $879MM, +0.9% vs. 1Q18 -


Smith & Nephew reports 1Q19 orthopedic revenue of USD $879MM, +0.9% vs. 1Q18.

  • All orthopedic business franchises reached low to mid-single-digit growth before currency exchange headwinds
  • Emerging markets performed well, especially China
  • Established ex-U.S. markets were challenged, but Europe returned to growth
  • JOURNEY II and LEGION products drive knee growth
  • The hip segment was impacted by moderate supply issues that will improve throughout the remainder of the year
  • Acquisition of Brainlab’s orthopedic digital assets is expected to close in 2Q19
  • Company remains highly active in M&A space, with addition of Ceterix Orthopaedics broadening the knee meniscal repair portfolio, Osiris Therapeutics adding biologics and Brainlab’s navigation assets adding to a robotics ecosystem


ORTHOWORLD estimates segment growth on an as-reported basis as follows:

  1Q19 1Q18 $ Chg % Chg
Joint Replacement $440.0 $439.8 $0.2 0.0%
Knees $275.0 $272.0 $3.0 1.1%
Hips $152.0 $155.0 -$3.0 -1.9%
Extremities $13.0 $12.8 $0.2 1.7%
Trauma $106.0 $104.2 $1.8 1.7%
Sports Medicine $333.0 $327.0 $6.0 1.8%
Total $879.0 $871.0 $8.0 0.9%

ORTHOWORLD estimates sales by geographic region as follows:

Geographic Region 1Q19 1Q18 $ Chg % Chg
US $415.4 $396.9 $18.5 4.7%
Ex-US $463.6 $474.1 -$10.5 -2.2%
Total $879.0 $871.0 $8.0 0.9%


Sources: Smith & Nephew; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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