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Monthly compilations are available in PDF form.

Quarterly Review

4Q13/2013 Revenue: Smith & Nephew

4Q13 Advanced Surgical Devices revenue: $818MM, +5% (U.S. $382MM, +6%, Established ex-U.S. Markets $318MM, flat; Emerging & International $118MM, +16%)

  • Hips $175MM, +2% (U.S. flat, ex-U.S. +4%)
  • Knees $236MM, +5% (U.S. +11%, ex-U.S. -2%)
  • Sports Medicine Joint Repair $138MM, +11%
  • Arthroscopic Enabling Technologies $121MM, -1%
  • Trauma and Extremities $128MM, +5% (U.S. extremities +20%)
  • Other ASD $27MM, +27%

 

  • Market conditions improved in the U.S., unchanged elsewhere
  • Excluding Birmingham hips, global hips +3%
  • Launched POLARSTEM Cementless Stem in the U.S.
  • Knee growth supported by acceleration in JOURNEY II BCS Knee, recent VERILAST bearing surface ad campaign
  • All key geographies supported SportsMed growth, while Trauma benefited from Emerging Markets
  • Launched HEALICOIL REGENESORB biocomposite suture anchor for shoulder repair

 

2013 revenue: $3,015MM, +1% (U.S. $1,391MM, +1%; Established ex-U.S. Markets $1,204MM, -3%; Emerging & International $420MM, +1%)

  • Hips $653MM, -1%
  • Knees $865MM, flat
  • Sports Medicine Joint Repair $496MM, +7%
  • Arthroscopic Enabling Technologies $441MM, -2%
  • Trauma and Extremities $486MM, +4%
  • Other ASD $74MM, +14%

 

  • Key 2014 launches include expanded JOURNEY II range; BIOSURE HEALICOIL PK Interference Screw ex-U.S.; SUTUREFIX ULTRA Suture Anchor; TRUEPASS Suture Passer; DYONICS extensions; expansions for upper/lower extremities and trauma plates/nails

 

Agreement to acquire ArthroCare:

  • Transaction expected to close mid-2014
  • Fills gaps in shoulder fixation offering (e.g., knotless anchors)
  • Currently licenses Coblation radiofrequency resection technology, which complements ACUFEX instruments and DYONICS blades; does not currently license Ambient technology
  • Finds ENT an attractive adjacent area
  • Analysts note that other companies could present bids, such as Johnson & Johnson, Stryker, Zimmer