Smith+Nephew Archives - Page 2 of 6 - Medical Design Sourcing

Smith+Nephew CFO to step down, revenue guidance increased

Smith+Nephew CFO Anne-Françoise Nesmes [Image courtesy of S+N]Smith+Nephew (LSE: SN, NYSE: SNN) + said today that it now expects 6–7% revenue growth this year, up from a previous 5–6% growth projection.

The British orthopedic and sports medicine products company also announced that CFO Anne-Françoise Nesmes will step down during the second quarter of 2024 and that the board has initiated an external search for a successor.

Revenue was already up 6.6% year-over-year to nearly $1.3 billion in Q2 2023 and up 5.2% to $2.7 billion in the first half of the year. Trading profit was down 5.5% year-over-year to $417 million during H1, with the trading profit margin down 1.6 percentage points year-over-year to 15.3%.

“I am pleased to report strong first-half revenue growth across our business. The continued outperformance in Sports Medicine and Advanced Wound Management – representing 60% of our business – has co…

Smith+Nephew wins FDA clearance for shoulder replacement system

The Aetos shoulder system. [Image courtesy of Smith+Nephew]Smith+Nephew (NYSE: SNN) + announced today that it received FDA 510(k) clearance for its Aetos shoulder system.

London-based Smith+Nephew designed Aetos to restore patients’ range of motion and help minimize arthritic shoulder pain. The system features the Aetos Meta Stem designed for maximizing stability, preserving bone and maintaining patient anatomy.

Aetos adds to the company’s upper extremity portfolio. It complements S+N’s sports medicine shoulder repair and biologics products and services, according to the company.

Smith+Nephew said the FDA clearance covers indications for both anatomic and reverse total shoulder arthroplasty. Company officials believe Aetos offers a compact yet comprehensive portfolio of solutions that enhance the surgical experience. According to the company, it requires fewer steps for conversion and fewer instru…

Smith+Nephew unveils duo of AI-powered surgical robotics tools

The Cori system with Personalized Planning and RI.Insights. [Image courtesy of Smith+Nephew]Smith+Nephew (NYSE:SNN) announced today that it introduced two new products for its robotics and digital surgery portfolio.

The London-based company unveiled its Personalized Planning (powered by AI) and RI.Insights data visualization platform.

These solutions transform data into contextual intelligence, enabling surgeons to see how pre-operative plans and intra-operative decisions link to postoperative outcomes. This closes the feedback loop for Smith+Nephew’s robotics and digital surgery platforms, the company said.

Personalized Planning and RI.Insights help to expand the capabilities of the Cori robotic surgery system in knee replacement. The new addition enables surgeons to set the initial implant placement within the total knee arthroplasty procedure. They can base it on AI-guided reference values, their own planning preferences for implants and patient-sp…

May 2023 edition: Endolumik’s big step for safety, ortho hot topics, SaMD development lessons

Endolumik’s illuminated device takes a big step for safety

The top orthopedic device news out of AAOS 2023

SaMD development lessons from Cordio’s voice AI heart failure app

Orthopedic device tech advances

High in the Wind River mountains of present-day Wyoming, the inhabitants of a remote alpine village — perhaps the oldest in North America — may have used fresh rawhide soaked in water as a splint to immobilize fractured bones thousands of years ago.

Before them, the ancient Egyptians used tree bark and linens, and native tribes of South Australia used thick clay.

They would all no doubt be amazed by the modern practice of orthopedics on display at this year’s American Academy of Orthopaedic Surgeons (AAOS) annual meeting — after they recovered from the shock of the scintillating sights of Las Vegas.

In this edition of Medical Design & Outsourcing, Executive E…

May 2023 edition: Endolumik’s big step for safety, ortho hot topics, SaMD development lessons

Endolumik’s illuminated device takes a big step for safety

The top orthopedic device news out of AAOS 2023

SaMD development lessons from Cordio’s voice AI heart failure app

Orthopedic device tech advances

High in the Wind River mountains of present-day Wyoming, the inhabitants of a remote alpine village — perhaps the oldest in North America — may have used fresh rawhide soaked in water as a splint to immobilize fractured bones thousands of years ago.

Before them, the ancient Egyptians used tree bark and linens, and native tribes of South Australia used thick clay.

They would all no doubt be amazed by the modern practice of orthopedics on display at this year’s American Academy of Orthopaedic Surgeons (AAOS) annual meeting — after they recovered from the shock of the scintillating sights of Las Vegas.

In this edition of Medical Design & Outsourcing, Executive E…

The top orthopedic device news out of AAOS 2023

Stryker’s next-gen Mako total robotic knee surgery system and more AI integration for Zimmer Biomet’s ZBEdge surgical platform topped the news at this year’s AAOS 2023.

The American Academy of Orthopaedic Surgeons 2023 annual meeting drew top medical and medtech talent to Las Vegas from March 7–11.

Here is a roundup of major news coming out of the show:

Stryker launches Mako Total Knee 2.0 surgical robotics platform The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker]Stryker unveiled Mako Total Knee 2.0 at AAOS 2023. Informed by more than 500,000 procedures, Stryker said it designed the next-gen version of the robotic knee surgery system to provide an elevated user experience with customizable workflows and other key features. New features include a digital tensioner for assessing knee stability intraoperatively during total knee arthroplasty — without the need f…

Smith+Nephew data backs its patient-specific knee surgery tools

Visionaire patient-specific instrumentation [Image courtesy of Smith+Nephew]Smith+Nephew (LSE:SN, NYSE:SNN) has published a systemic literature review that backs its Visionaire patient-specific instrumentation for knee surgeries.

The research was published online by the Archives of Orthopaedic and Trauma Surgery. It included a meta-analysis of 25 relevant studies that compared Visionaire-enabled total knee arthroplasty (TKA) with conventional instrumentation-enabled TKA.

The analysis demonstrated improvements in alignment accuracy, efficiency in surgical procedures, and reduction in length of hospital stay in comparison with conventional instrumentation, London-based Smith+Nephew said in a news release posted March 6. (The announcement comes the same week as AAOS’s 2023 annual meeting in Las Vegas.)

People who received a total knee arthroplasty with Visionaire experienced benefits including:

A 40% reduction in the odds of an outlier in the mechan…

Medtech jobs: The world’s largest medical device companies are hiring

Medical device companies are trying to fill thousand of medtech jobs. [Photo by ijeab – stock.adobe.com]

The world’s largest medical device companies are still hiring for medtech jobs despite layoffs in tech and other industries.

Medtech developers — and medtech jobs — are resilient, with the industry’s COVID-19 pandemic performance only bolstering its recession-proof reputation.

That’s not to say there haven’t been job cuts in medtech, led by thousands of layoffs at Philips as it struggles with a massive recall of deadly respiratory devices. But most medical device manufacturers are still hiring, and in some cases they can’t attract enough candidates to fill every vacancy in a tight labor market.

Stryker, for example, grew to approximately 51,000 employees as of the end of 2022, increasing its headcount by nearly 11 percent last year. Boston Scientific reported nearl…

Smith+Nephew projects at least 5% growth next year after ’12-point’ transformation

Smith+Nephew (NYSE:SNN) shares ticked up slightly on fourth-quarter financial results that include projections for growth in 2023.

Shares of SNN rose 0.5% at $29.55 apiece in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 8.7%.

The London-based orthopedic implant maker posted revenues of $1.37 billion for the quarter. That marks a 1.4% increase from the same three-month period in 2021. Full-year revenues grew 0.1% to $5.22 billion. The company recorded a 2022 operating profit of $450 million.

Smith+Nephew said in a news release that it spent 2022 “transforming” itself with a 12-point plan. It aims to improve execution and drive strategy for growth. That includes fixing orthopedics, improving productivity and accelerating wound management and sports medicine growth.

The company reported “good early progress” that includes …

Smith+Nephew names new company chair

Rupert Soames. [Image courtesy of Smith+Nephew]Smith+Nephew (NYSE:SNN) announced that it appointed Rupert Soames OBE to succeed Roberto Quarta as chair of the company.

Quarta reached the end of his tenure and intends to retire as chair and non-executive director this year.

London-based Smith+Nephew plans to appoint Soames as an independent non-executive director at its annual meeting on April 26. His appointment remains subject to shareholder approval and should take effect on Sept. 15, 2023. Quarta agreed to continue as chair to ensure a smooth transition. He also intends to put himself up for re-election as a non-executive director on April 26 on this basis.

Soames joins Smith+Nephew after serving as CEO of Serco Group, an outsourced services provider. He held that role between 2014 and 2022.

Prior to Serco, Soams held the corner office at Aggreko from 2003 to 2014. He served as non-executive independent director at both DS Smith and Electrocompone…

Smith+Nephew LEAF patient monitor wins innovative tech nod

The LEAF patient monitoring system. [Image courtesy of Smith+Nephew]

Smith+Nephew (NYSE:SNN) announced today that its LEAF patient monitoring system received an Innovative Technology designation from Vizient.

Vizient awards Innovative Technology designations to previously contracted products. The award signals to healthcare providers the impact of these innovations.

Get the full story at our sister site, MassDevice.

Smith+Nephew LEAF patient monitor wins innovative tech nod

The LEAF patient monitoring system. [Image courtesy of Smith+Nephew]Smith+Nephew (NYSE:SNN) announced today that its LEAF patient monitoring system received an Innovative Technology designation from Vizient.

Vizient awards Innovative Technology designations to previously contracted products. The award signals to healthcare providers the impact of these innovations.

London-based Smith+Nephew exhibited the LEAF system at the Vizient Innovative Technology Exchange last year.

Smith+Nephew’s LEAF offers visual alerts in the patient room and at the nurse’s station. It tells users who needs to be turned and when. Its Integrated Positioning Technology precisely measures the effectiveness of patient turning. This includes turn frequency, turn angle and tissue recovery time.

The wearable, wireless system helps improve adherence to individualized turn protocols up to 98%. It demonstrated the ability to reduce the chance of developing hospital-acquir…