Smith+Nephew opens new plant in Malaysia

Officials in Penang, Malaysia say the state has become a medtech hub in the region [Image courtesy of Google]Smith+Nephew recently opened a 250,000-square-foot advanced manufacturing facility in Malaysia.

Representing a more than $100 million investment, the plant will primarily support the British medtech giant’s orthopedics business, which the company expects to grow strongly in the Asia-Pacific region.

S+N expects the facility — located at the Batu Kawan Industrial Park in Malaysia’s northwest state of Penang — to create 800 local jobs in manufacturing, engineering and supply chain in the coming years.

“We are thrilled to open this new manufacturing facility in Malaysia which represents our commitment to Asia-Pacific, Malaysia, our customers and their patients. It is also a critical piece of our Strategy for Growth, improving efficiency and resilience, and supports our purpose of Life Unlimited so that patients across the region and beyond ca…

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Smith+Nephew is moving out of its historic U.K. home

The location of Hull, U.K., Smith+Nephew’s historic home [Image courtesy of Google]Smith+Nephew (LSE:SN, NYSE:SNN) announced today that it will build a new R&D and manufacturing facility for its Advanced Wound Management franchise that will move the company outside of its historic home of Hull.

S+N started in 1856 in Hull. The new R&D and manufacturing hub will be at the Melton West business park — about 8 miles from the present location, where the company has had a location for more than 100 years.

Smith+Nephew will invest more than $100 million in the new facility, with support from a U.K. government grant. The development will also be supported by a grant from UK Government. After its expected opening in 2024, the new facility is expected to support more than $10 billion in sales during its first 10 years of operation.

“This major investment demonstrates our commitment to the U.K. and to building our leadership in Advanced Wound Manag…

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Smith+Nephew rises on Q4 earnings, announces new CEO

Smith+Nephew (NYSE:SNN) shares ticked up today as it announced a new CEO along with its quarterly earnings.

Shares of SNN were up 6.4% at $34.67 per share in late-afternoon trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1%.

The company confirmed that Dr. Deepak Nath will succeed Roland Diggelmann in the role of CEO after Diggelmann steps down, a move that will be made as a result of a mutual agreement.

Nath will begin as CEO on April 1, 2022, after Diggelmann departs on March 31, 2022, according to a news release.

“It has been a privilege to lead Smith+Nephew,” Diggelmann said in the release. “I would like to thank my colleagues across the business for their tireless efforts to support our customers and communities, and continue to deliver against the backdrop of COVID. I look forward to seeing the business go from strength to strength under Dee…

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Smith+Nephew acquires cementless partial knee maker Engage Surgical

Engage Surgical’s partial knee system. [Image from Engage Surgical]Smith+Nephew (NYSE:SNN) announced today that it acquired Engage Surgical and its cementless unicompartmental (partial) knee system.

Orlando, Florida-based Engage Surgical designed its partial knee system as a novel, modern, cementless knee implant aiming at seizing the potential for better long-term fixation through biologic integration, shorter operating times and a shift to ambulatory surgery centers (ASCs).

The company’s platform is the only cementless unicompartmental knee system commercially available in the U.S., according to a news release.

London-based Smith+Nephew said the acquisition supports its growth strategy while providing differentiation for its customers as well. The total cost of the acquisition will reach up to $135 million, contingent on sales performance. Smith+Nephew funded the acquisition from existing cash and debt facilities.

“Smith+Nephew is…

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Smith+Nephew outlines growth strategy, sets mid-term guidance

Smith+Nephew (NYSE:SNN) announced its planned strategy for growth and confirmed its financial guidance through 2024.

London-based Smith+Nephew outlined its plan with a focus centered around innovation, productivity and commercial execution.

The company said in a news release that it plans to build on its product portfolio and pipeline, deliver manufacturing and supply optimization programs, sustain growth in advanced wound management and sports medicine (about 60% of its portfolio) and re-establish momentum and growth in its orthopedics franchise.

Smith+Nephew said it is targeting organic revenue growth consistently between 4% and 6% by 2024 and plans to maintain a higher investment in innovation and continue making acquisitions of new technologies to expand into high-growth segments.

The company confirmed its commitment to return surplus capital to shareholders through a regular annual share buy-back. Smith+Nephew expects that to range between $2…

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Smith+Nephew expands reach of its Cori handheld robotic system

The Cori system includes a handheld cutting tool that has a robotic feature that automatically halts the spinning of the tool’s burr if it’s outside a digitally “painted” area. [Image from Smith+Nephew]

A year after Smith+Nephew (NYSE:SNN) launched its Cori handheld robotic system in the U.S.,  the ortho surgery system has launched globally.

The British medtech giant has expanded Cori’s reach to Europe, Australia and New Zealand, India, and Canada (just announced today). The company yesterday said the system was now available for use in the U.K.’s National Health Service.

Get the full story on our sister site MassDevice. 

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Smith+Nephew launches Cori handheld robotic system for knee arthroplasties

[Image from Smith+Nephew]Smith+Nephew (NYSE:SNN) announced today that it launched its Cori handheld robotic system for total and partial knee arthroplasties.

London-based Smith+Nephew designed Cori as a compact, fully mobile offering with a 3D intraoperative imaging system and an advanced robotic sculpting tool.

According to a news release, the robotic system gives surgeons a way to measure, plan and perform a knee surgery personalized to a patient’s individual anatomy in-theater. The company touts its platform as more compact than alternative robotic systems, with minimal set-up time and portability that optimizes the flow of patients through surgical units because it can be moved from theater to theater.

Dr. Tim Parratt, a consultant orthopedic surgeon at East Suffolk North Essex NHS Foundation Trust, and one of the first surgeons to use Cori in the United Kingdom, said in the release that the easy-to-use Cori system provides minimal disruption for …

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Smith+Nephew creates digital surgery and robotics innovation center in Germany

Smith+Nephew (NYSE:SNN) announced today that it created a purpose-built digital surgery and robotics innovation center in Germany.

London-based Smith+Nephew’s new innovation center, based in Munich, aims to bring together healthcare professionals from Europe, the Middle East and Africa with the company’s R&D and medical education teams to gain further understanding in digital surgery and robotics techniques and technologies.

According to a news release, Smith+Nephew’s Real Intelligence digital ecosystem will be at the center of the research, as well as the company’s new CORI robot-assisted surgical system. The center will also feature a dedicated medical education facility for refining techniques and using the latest technologies with hands-on learning and immersive simulations.

Smith+Nephew’s digital surgery and robotics R&D team will also be housed at the center to allow for collaborations with surgeons, scientists…

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Smith+Nephew to expand into hip surgery with Cori surgical system

Smith+Nephew’s Real Intelligence digital ecosystem [Image courtesy of S+N]Smith+Nephew (LSE:SN, NYSE:SNN) is seeking FDA clearance for its RI.Hip Navigation software that would enable the use of its Cori surgical system for total hip arthroplasty.

The London-based medtech company touted the software today at the American Academy of Orthopaedic Surgeons (AAOS) 2021 annual meeting in San Diego. The handheld Cori system is already FDA-cleared for both total and unicompartmental knee arthroplasty.

Competitors Stryker and Zimmer Biomet already have their Mako and Rosa systems respectively active in the total hip surgery space.

Smith+Nephew officials think they have an edge with small, portable, relatively affordable Cori because the surgeon gets to hold a handheld tool; there is also less radiation exposure associated with preoperative CT imaging. Robotics come into play because the tool’s spinning burr automatically stops when the surgeon is outside…

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Smith+Nephew touts analysis of Oxinium in total hip arthroplasty

Smith+Nephew (NYSE:SNN) today touted its Oxinium technology as the best performing bearing with the lowest revision risk in total hip arthroplasty.

London Based S+N shared results substantiated by four national and regional joint registries over the last 20 years, covering more than 2 million procedures from which to draw, according to a news release.

The company designed its proprietary Oxinium (oxidized zirconium) through a manufacturing process that sees the zirconium alloy material transform and harden through oxidation, making Oxinium into a ceramicized metal rather than an applied coating.

Oxinium proves to deliver the lowest risk of revision at 10 years for total hip arthroplasty, while implants powered by Oxinium in total knee arthroplasty perform at A/A* levels according to ODEP at up to 15 years. S+N said the platform represents a step-change from implant technology by combining the durability of metal, the wear and biocompatibility of ceramic …

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MedTech 100 roundup: Industry climbs with earnings season in full swing

The medtech industry remains on the upswing as companies see their stocks rising with quarterly earnings providing a boost.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark would be the index’s all-time best.

The total at the end of last week represents a 2.9% rise from the 115.54-point tally posted by the index at the end of last week (July 23).

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 28.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 91.3% ascent above that point.

The industry’s performance had no cor…

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Smith+Nephew revenue up 48% in Q2

Smith+Nephew (LON: SN; NYSE: SNN) saw its sales jump 48% in Q2, with the company reiterating its projection of 10–13% underlying revenue growth in 2021.

British medtech giant yesterday reported $1.335 billion in revenue for the quarter ended July 3, 2021. For the first half of 2021, the company saw a trading profit of $459 million and an operating profit of $239 million off of $2.599 billion in revenue — versus a trading profit of $172 million and an operating loss of –$5 million off of $2.035 billion in revenue a year before.

“Our performance in the first half of 2021 demonstrates the value of our continued investment in our portfolio, our pipeline and our people. This has put us in a strong position as COVID restrictions eased and levels of elective surgery began to return to normal, with new products and recently acquired assets performing well across the portfolio,” CEO Roland Diggelmann said in a news release.

“Looking ahead, we believe we are…

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