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ZimVie sticks by its full-year guidance

ZimVie (Nasdaq: ZIMV) this evening reported mixed third-quarter results, but the spine and dental tech company reaffirmed its full-year guidance.

Many medical device companies have been tightening or reducing guidance amid the present macroeconomic headwinds.

Westminster, Colorado–based ZimVie earned $831,000, or 3¢ per share, off $213.3 million in revenue for the quarter that ended Sept. 30, 2022. The company lost $30.2 million, or $1.16 per share, off $238.7 million in revenue during Q3 2021.

Adjusted to exclude one-time items, ZimVie had EPS of 49¢. The adjusted earnings are 22¢ ahead of The Street, where analysts expected EPS of 27¢ on revenue of $215 million.

“I am pleased with our operational progress and the work we are doing to enhance our portfolios in both dental and spine. Our TSX and T3 Pro tapered dental implants and Encode emergence healing abutment are gaining traction, while we remain focused on innovating around our core spine pla…

Surgalign plans layoffs

Surgalign (Nasdaq:SRGA) today announced a board-approved corporate restructuring plan that includes layoffs.

The Deerfield, Illinois–based spine surgery tech company did not disclose how many jobs may be cut amid the planned streamlining and brand and product portfolio rationalization initiatives. As of Dec. 31, 2021, Surgalign had 231 employees — 70 of them outside the U.S., according to its most recent annual report.

The company estimates it will save roughly $30–35 million compared to 2022.

In addition to approving the restructuring plans yesterday, Surgalign’s board gave management the green light to explore other cost-saving avenues. Future moves could include paring down, selling or exiting certain aspects of its business, both domestically and abroad.

The goal is to refocus the company on R&D and commercializing products that align with its core strategy.

“We believe these programs will enable us to generate growth in…

Siemens Healthineers plans to streamline its Diagnostics business

Siemens Healthineers plans to halve the number of diagnostic platforms it offers in coming years as it seeks to overcome supply chain and other external challenges.

In its Q4 earning announcement today, the German medtech giant said the €1.5-billion-a-year Diagnostics business faces procurement and logistics challenges. Also, there are foreign currency headwinds and COVID-related lockdowns in China.

Siemens Healthineers recently started the controlled rollout of its CI 1900 low-to-mid-volume analyzer in Europe.

“We will undertake significant measures to reduce complexity by reducing the number of our platforms by more than 50% over time following the CI 1900 platform launch,” CEO Bernd Montag said during the company’s earnings call today, transcribed by Seeking Alpha.

“Our portfolio complexity has been a particular burden in the current challenging environment and supply chain environment. … We will streamline our sup…

ReCor reports more positive ultrasound renal denervation results

This ReCor Medical illustration shows the Paradise renal denervation catheter during the procedure. The red circle indicates ultrasound-generated energy producing heat for denervation, while the blue circles illustrate cooling from circulating water within the artery to protect the artery from heat.

ReCor Medical said its Paradise ultrasound renal denervation (uRDN) treatment showed consistent and significant blood pressure reductions in an analysis of pooled data from its ReCor’s three Radiance randomized hypertension studies.

“Pooling the data from the Radiance program demonstrates that treatment with the Paradise uRDN System results in a consistent reduction in blood pressure across differing severities of hypertension,” Dr. Ajay Kirtane, a co-principal investigator on the study, said in a news release. “The consistent and clinically meaningful BP reduction across multiple patient groups increases our interest in the use of uRDN as a potential the…

Masimo stock down on supply chain, economic headwinds

Masimo (Nasdaq: MASI) reported third-quarter results that beat the consensus forecast on Wall Street — but it held down its Q4 guidance.

“We delivered strong results in the third quarter, with revenue and earnings exceeding expectations. Our healthcare segment achieved double-digit constant currency growth, and our consumer non-healthcare segment reported another quarter of better-than-expected results. Our performance in the third quarter was achieved in a challenging environment and made possible by commendable contributions from our entire team,” CEO Joe Kiani said in a news release yesterday evening.

The Irvine, California–based maker of health monitoring tech and high-end sound systems earned $37.9 million, or 70¢ per share, off $549.3 million for the quarter that ended Oct. 1, 2022. The bottom line was down by more than a third, while the top line was up by nearly 79% compared with Q3 2021.

Healthcare revenue was $327.2 million, up 6.4%. Non-…

Silk Road Medical ticks up on Street-beating Q3 results

Silk Road Medical (NSDQ:SILK) this week posted third-quarter results that beat the overall consensus on Wall Street.

The Sunnyvale, California-based stroke treatment tech company reported net losses of $10.3 million, or -29¢ per share, on sales of $37.4 million for the three months ended Sept. 30, on sales growth of 51.31% and profit gain from net losses of $13.9 million in Q3 2021.

Earnings per share were 14¢ ahead of The Street, where analysts were looking for sales of $33.64 million.

“Our performance in the third quarter reflects broad-based U.S. TCAR strength as we capitalize on the operational infrastructure our team has worked so hard to establish,” CEO Erica Rogers said in a news release. “This is the first time in over seven decades that the carotid artery disease market has experienced a level playing field for a minimally invasive approach with open surgery. With TCAR now available to all eligible patients, we have cemented the foundation to es…

Outset Medical skyrockets on Q3 revenue beat, raises full-year guidance

Outset Medical (Nasdaq:OM) this week posted third-quarter results that were in line with earnings estimates and beat the revenue consensus on Wall Street.

The San Jose, California-based home hemodialysis device maker reported net losses of $40.8 million, or -85¢ per share, on sales of $27.8 million for the three months ended Sept. 30, for a sales growth of 5.48% compared to Q3 2021. Comparatively, Outset Medical reported net losses of $30.5 million.

Adjusted to exclude one-time items, earnings per share were 70¢, in line with The Street, where analysts were looking for sales of $25.23 million.

“Our third quarter results reflect the value Tablo is delivering in both the acute and home settings, with console shipments exceeding our initial expectations,” CEO Leslie Trigg said in a news release. “While we have seen staffing and inflationary pressures persist for our provider customers, we believe our continued expansion in the acute setting and our strong s…

Globus Medical posts mixed-bag Q3 results

Globus Medical (NYSE:GMED) this week posted third-quarter results that were in line with the revenue consensus on Wall Street but missed earnings estimates.

The Audubon, Pennsylvania-based musculoskeletal device company reported profits of $47.4 million, or 47¢ per share, on sales of $254.14 million for the three months ended Sept. 30, for a bottom-line gain of 0.5% on sales growth of 10.63%.

Earnings per share were 2¢ behind The Street, where analysts were looking for sales of $254.14 million.

“Our third quarter sales grew 12.6% on a constant currency basis, as we continue to make market share gains by providing industry-leading innovative solutions in spine care,” President and CEO Dan Scavilla said in a news release.

“Our U.S. Spine business grew an impressive 9.0%, which is evidence of our ability to hold the share gains we’ve made in the past several years, while also continuing to take new share across the U.S. market. International Spine sa…

Vicarious Surgical posts larger-than-expected losses in Q3

Vicarious Surgical (NYSE:RBOT) posted third-quarter results today that fell short of the consensus forecast on Wall Street.

The Waltham, Massachusetts-based robotics technology developer reported a net loss of $24.7 million, or -$0.20 per share, for the three months ended Sept. 30, 2022.

That’s a narrower loss for the pre-revenue company than the company’s $45.1 million loss in Q3 2021, or-$0.49 per share.

The company said its cash burn rate for its latest quarter was $14.5 million, and that it had $126.8 million in cash and equivalents on hand at the end of September.

Operating expenses increased to $22.2 million from $5.2 million in Q3 2021, while R&D spending increased to $12.1 million for the quarter compared to $5.2 million in the prior-year period.

“During the third quarter, our team completed the integration phase of the Beta 2 system build, and I’m incredibly encouraged by the results of our cadaveric testing. We loo…

Medline Industries signs $140M distribution deal with Bryan Health

Medline Industries today announced it entered a multi-year prime vendor partnership with Nebraska-based Bryan Health to deliver medical supplies.

Through the $140 million deal, Medline Industries will exclusively provide an extensive portfolio of essential medical supplies and solutions to Bryan Health’s acute care medical centers.

“Medline’s proactive approach facilitated a smooth implementation and the customer support has been incredibly responsive,” Bryan Health Director of Supply Chain Heather Seeba said in a news release. “We look forward to partnering with the Medline experts to optimize our operational processes and improve our supply consistency.”

Dedicated Medline resources will work with Bryan Health to address specific caregiver needs and operational efficiencies to support the system’s efforts in providing quality healthcare in the region. Bryan Health will also be able to easily monitor key metrics …

Medtronic RDN trial fails to beat hypertension drugs; data submitted for FDA review

Medtronic’s Symplicity Spyral renal denervation catheter [Image courtesy of Medtronic]Medtronic (NYSE:MDT) said its Symplicity Spyral renal denervation (RDN) system for treating hypertension failed to outperform blood pressure drugs in the latest trial results.

However, the SPYRAL HTN-ON MED clinical trial’s six-month results did show improvement over Medtronic’s previous RDN efforts, the device maker said in a news release.

RDN is designed to treat hypertension with a one-time outpatient procedure that delivers energy to the nerves in the wall of the artery leading to the kidney. Medtronic’s Symplicity Spyral catheter device delivers radiofrequency energy through four electrodes.

RELATED: What is renal denervation? Medtronic Coronary and RDN President Jason Weidman explains

Medtronic said it submitted the final module of the Symplicity Spyral Premarket Approval package to the FDA for review and approval.

The company pr…

Si-Bone posts Q3 revenue in line with Wall Street consensus

Si-Bone (NSDQ:SIBN) this week posted third-quarter results that beat the earnings consensus on Wall Street and were in line with revenue estimates.

The Santa Clara, California-based orthopedic implant company reported net losses of $14.2 million, or -41¢ per share, on sales of $26.43 million for the three months ended Sept. 30, for a sales growth of 18.6%. Profit losses were up slightly from Q3 2021 when it reported $15.9 million in losses.

Earnings per share were 7¢ ahead of the Street, where analysts were looking for sales of $26.43 million.

“We are encouraged by the continuing top-line acceleration in our business and the increasing operating leverage we were able to generate in the quarter,” President and CEO Laura Francis said in a news release. “With a record U.S. active surgeon base and growing surgeon enthusiasm for iFuse-Bedrock Granite, I am energized about the long-term potential for the business. As we look beyond 2022, we remain confident th…