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Year in Review

A First Look at 2010 Results: Biomet

BIOMET (for fiscal 2Q11, ended 11/30/10)
$698.3MM, +2%
* U.S. $416.9MM, +2%
* Europe $188.8MM, -1%
* International $92.6MM, +7%

Note: Overall growth includes Dental.

Reconstructive $540.5MM, +3% (U.S. +3%)
* Hips flat (U.S. flat)
* Knees +3% (U.S. +3%)
* Extremities +23% (U.S. +36%)
* Other -3% (U.S. -2%)

Fixation $56.3MM, -2% (U.S. -1%)

Spine $56.0MM, -3% (U.S. flat)

Other $45.5MM, +2% (U.S. +2%)
* Sports Medicine +17% (U.S. +17%)
* Other -14% (U.S. -16%)

* Not observing a lot of movement in larger U.S. hospital customers toward purchasing to eliminate the distributor and manage inventory on their own

Recon
* Worldwide hip/knee sales +2% (U.S. +2%)
* Continued deceleration in procedure volume growth, increased price mix pressure
* Average selling prices (ASP) for U.S. hips/knees declined slightly in low single digits; ASP decline worse than previous quarter
* Performance up in U.K., especially Germany
* International performance very solid, with strong double-digit growth in Australia
* Growth in Japan decelerated into single digits (partially due to price decreases from 4/10)
* Continued mix shift from metal-on-metal (MoM) acetabular systems to RingLoc cups with E1 bearings in U.S. and to Exceed ABT in Europe
* Noticing some impact of MoM shift on company’s overall market share, some price impact, especially in Europe, where metal-on-poly alternatives offer lower price point
* Will complete initial U.S. launch of Arcos Modular Revision Hip in 3Q
* Launching additional sets for Arcos throughout end of FY11, into FY12
* Rollout of new Taperloc Complete Hip in 4Q
* Vanguard, E1 Tibial Bearings and Regenerex Porous Titanium key drivers of knee growth
* Received FDA clearance for Vanguard SSK 360 Revision for stabilized knee; will commence limited launch during 3Q
* Trained ~250 U.S. surgeons on Oxford knee
* Will commence limited launch of Oxford Partial Knee extensions and instrument upgrades during fiscal year
* Double-digit growth for 12th consecutive quarter worldwide and 10th consecutive for U.S.
* Strong contribution from ExploR Modular Radial Head, primary reverse and fracture shoulder systems
* Trained ~250 U.S. surgeons (strong focus on comprehensive shoulder), will add 150 in 3Q

Trauma and Spine
* Trauma hardware operations business now fully transferred into U.S. orthopaedic division
* Strong craniomaxillofacial fixation sales offset by decreased sales in internal/external fixation, electrical stimulation
* Planning 3Q release of IQ intelligent delivery system for increased speed of titanium screw insertion with cordless drilling
* Significant price pressure in spine hardware continues
* Spinal stimulation supported by strong sales of SpinalPak
* Expects increased market demand in 2HFY11 for Polaris Deformity System with Trivium derotation instruments for scoliosis, and for MaxAn Anterior Cervical Plate

Other
* Soft goods/bracing sales decreased, but sports med supported by increased demand for JuggerKnot Soft Anchor, MaxFire MarXmen meniscal repair device, etc.
* Completed patient enrollment in U.S. clinical trial for Recover Kit to treat chronic tennis elbow: 230 patients, will conclude mid-calendar 2011