Integra LifeSciences Archives - Page 3 of 3

MedTech 100 roundup: Nearing new highs once again

Having hit a downturn as the summer neared, the medtech industry is now consistently on the rise as June comes to a close.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 25) at 113.42 points, producing a 2.5% rise from the 110.64-point mark set one week prior (June 18). In all, the industry has risen 5.9% over the past three weeks.

The recent upswing shows no signs of slowing after the industry’s progress came to a halt with a -1.4% dip earlier this month. The index looks set to close in on the 114.58-point mark set in April, marking the industry’s all-time best performance.

Even with some recent setbacks, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 22.9% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 82.6% increase from the mid-pandemic low …

Integra Lifesciences CEO steps down to succeed GE Healthcare CEO Murphy

Integra LifeSciences (NSDQ:IART) announced today that Peter Arduini will step down as CEO to accept a new role at GE Healthcare (NYSE:GE).

Princeton, N.J.-based Integra said in a news release that Arduini will step down at the end of 2021 to assume the role of president & CEO at GE Healthcare. Current president and CEO of GE Healthcare, Kieran P. Murphy, this week expressed his intention to retire, according to a separate release.

“It has been a privilege and honor to serve as Integra’s President and CEO since 2012 and to work alongside this talented and passionate team. Together, we have accomplished much, including global leadership in neurosurgery with some of the most recognized brands in plastic and reconstructive surgery, and an innovative pipeline to accelerate future growth,” Arduini said in Integra’s release. “I want to personally thank Stuart and the Board for their invaluable guidance and unwavering partnership over the years, as well as ou…

Integra Lifesciences ticks up before hours on Street-beating Q1 results

Integra LifeSciences (NSDQ:IART) today posted first-quarter results that beat the consensus on Wall Street.

The company reported profits of $45.4 million, or 53¢ per share, on sales of $360.1 million for the three months ended March 31, for a bottom-line gain of 394.5% sales growth of 1.62% compared with Q1 2020.

Adjusted to exclude one-time items, earnings per share were 69¢, 12¢ ahead of The Street, where analysts were looking for sales of $349.8 million.

“We are pleased with the strong start to the year, having returned to organic growth in the first quarter, despite the ongoing headwinds from COVID-19,” president and CEO Peter Arduini said in a news release. “We also expect an improvement in procedures as we move through the year, positioning Integra to achieve our 2021 financial targets.”

Integra Lifesciences said it is raiding its lower end of its full-year guidance by $5 million to a range of $1.525 billion to $1.535…

The top 7 medtech CEO quotes on COVID-19, one year later

The latest earnings season has provided insights into the future of medtech in the COVID-19 landscape and what certain sectors are seeing as vaccines start to roll out.

Since the start of the pandemic, 113.1 million COVID-19 cases have been reported worldwide, according to Johns Hopkins University School of Medicine. The U.S. leads the world in infections, accounting for 28.4 million cases. More than 2.5 million people have died from the virus globally. Medtech has been on the frontlines throughout the pandemic, whether it was shifting production to make ventilators or PPE or developing COVID-19 tests and vaccines.

More than a year since the virus’ appearance in the U.S., some medtech CEOs are gaining a better understanding of how the industry may look moving forward. From stockpiling to new COVID-19 variants posing risks, here are the insights from seven CEOs.

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Integra LifeSciences posts earnings beat in Q4

Integra LifeSciences (NSDQ:IART) shares dipped today despite fourth-quarter results that beat the consensus earnings forecast.

The Princeton, N.J.-based medtech company posted profits of $92.7 million, or $1.09 per share, on sales of $388.6 million for the three months ended Dec. 31, 2020, coming in well ahead of its Q4 2019 profit of $15.3 million despite a sales decline of -1.6%.

Adjusted to exclude one-time items, earnings per share were 84¢, 11¢ ahead of Wall Street, where analysts were looking for sales of $388.6 million.

Improvements in surgical procedure volumes after many delays during the COVID-19 pandemic resulted in some growth for Integra, according to a news release.

“The safety and well-being of our colleagues has remained our number one priority throughout the pandemic, so they could continue to deliver critical, life-saving products to clinicians,” Integra president & CEO Peter Arduini said in the release. “Th…

Smith + Nephew closes Extremity Orthopedics purchase

Integra LifeSciences (NSDQ:IART) announced today that it completed the divestiture of its extremity orthopedics business to Smith+Nephew (NYSE:SNN).

The companies previously announced the planned divestiture, worth $240 million, in September 2020.

At the time, London-based Smith+Nephew said that the acquisition would significantly strengthen its extremities business by adding a combination of a focused sales channel and complimentary shoulder replacement and upper and lower extremities portfolios, plus a new product pipeline.

Integra’s commercial sales force to be inherited by Smith+Nephew focuses predominantly in the U.S. with further sales and distribution in Canada and Europe.

The inherited portfolio includes devices, implants and instruments designed for shoulder replacement and reconstruction of bone in the hand, wrist and elbow, along with the foot and ankle. Additionally, the pipeline includes a next-generation shoulder replacement system e…

Integra ticks up on Street-beating Q2

Integra LifeSciences (NSDQ:IART) shares got a boost today on second-quarter results that came in ahead of the consensus forecast.

The Princeton, N.J.-based medtech company posted losses of -$369,000, or $0.00 per share, on sales of $258.7 million for the three months ended June 30, 2020, for a bottom-line slide into the red on a sales decline of -32.6%.

Adjusted to exclude one-time items, earnings per share were 33¢, 23¢ ahead of Wall Street, where analysts were looking for sales of $242.8 million.

Integra attributed its revenue dip to the ongoing COVID-19 pandemic and the resulting reduction of non-emergent surgical procedures.

“We are encouraged by the sequential, monthly improvement in revenue throughout the second quarter following the lows experienced in April,” Integra president & CEO Peter Arduini said in a news release. “I want to thank our Integra colleagues for their perseverance and commitment to our customers and pat…

Integra touts outcomes, cost-savings in wound-healing studies

(Image from Integra LifeSciences)

A pair of retrospective studies of an Integra LifeSciences (NSDQ:IART) wound-healing matrix showed positive clinical and economic results, the company announced on Friday.

The studies looked at the results of complex lower extremity reconstruction using Integra’s bilayer wound matrix. The data were published in Plastic and Reconstructive Surgery.

The bilayer wound-healing matrix is formulated to provide an environment where the body can rebuild the layers of the skin to support the healing process, according to Princeton, N.J.-based Integra.

The first clinical publication showed 70% of the wounds successfully salvaged at 180 days, allowing the authors to identify success factors across patient selection and wound types.

The second publication reviewed cost and resource use, comparing Integra’…