Financial

Biomet Sales Encouraging for Industry

Biometlogo

Biomet, Inc. reported a 5% increase in sales for the company’s third fiscal quarter on April 11. Like the groundhog, Punxsutawney Phil of Pennsylvania, the company’s sales are widely watched because Biomet is the first company to report orthopedic industry quarterly sales for the start of the year.

Biomet 3Q 2012

Sales

($ in millions)

% Change 

Total Reported Sales $708.9 5%
     Large Joints 422.7 5%
          Knees

4%
          Hips

6%
     Sports, Extremities, Trauma 92.7 16.0%
     Spine & Bone Healing 76.5 down 5%
     Dental 65.6 down 2%
     Other 51.4 8.0%

Source: Biomet, Inc.

The company reported Knees and Hips up 4% and 6%, respectively. Spine and Bone Healing fell by 5%, the fifth consecutive quarter of declines, according to Wells Fargo Analyst Larry Biegelsen. Sports, Extremities and Trauma rose 16%. “Against relatively easy comps, Biomet posted better quarterly growth in nearly all of its product categories,” wrote Jefferies & Company, Inc. Analyst Raj Denhoy in an investor note on April 11.

About the author

Josh Sandberg

Josh Sandberg has been an executive search consultant focused exclusively on orthopedic and spine start-ups since 2004. He has had a tremendous impact in helping his clients avoid costly hiring mistakes by his deep industry knowledge and network. In 2010, Josh co-founded Ortho Spine Companies, which is the parent company of Ortho Spine Distributors (OSD), Surg.io and Ortho Sales Partners (OSP). OSD a searchable database that helps ease the frustration of finding orthopedic distributors throughout the country. Surg.io is the ultimate distributor toolkit that offers distributors the tools necessary to build the foundation of a scalable and highly functioning sales organization. OSP is an end-to-end solution that helps companies approach the Global Market in a cost efficient way. Our team has hundreds of years of experience and can help you navigate the many challenges present in bringing new technologies to the market.

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