Smith & Nephew Reports 15% Growth in Orthopedics
BY DAVID KRESSEL, FEBRUARY 10, 2006
Smith & Nephew reported results for 4Q05 and FY2005, and they were strong particularly within their Orthopedics segment. For the quarter, they saw 15% growth (ex F/X) in orthopedic sales to $1,267 million, which broke down as follows:
*Knees: +12% (+10% in the US)
*Hips: +13% (+9% in the US)
*Trauma: +16% (+20% in the US)
*Clinical Therapies: +31% (includes Exogen bone stim and Supartz joint fluid therapy)
They also announced a reorganization of Orthopedics into two segments, Reconstruction and Trauma, to be headed by Scott Flora and Mark Augusti, respectively. The current President of Orthopedics, David Illingworth, will be promoted to COO.
For 2006, they are forecasting midteens growth in Trauma and slightly slower growth in Reconstruction.
