As the medical technology industry’s latest earnings season has unfolded, acquisitions and a business separation have emerged as a theme.
In one of the biggest developments, BD said it would separate the biosciences and diagnostics unit from its medtech business, though what form the separation will take remains to be decided. CEO Tom Polen, on a Thursday earnings call, said the company will also “double down” on shifting its portfolio to higher-growth segments through tuck-in M&A.
Zimmer Biomet executives last week discussed the company’s plan to acquire foot and ankle implant maker Paragon 28 for $1.1 billion to gain a bigger presence at ambulatory surgery centers.
Meanwhile, Globus Medical last week unveiled plans to buy spinal cord stimulation company Nevro for about $250 million. Globus will likely have more to say about its strategy for the deal when it reports its fourth-quarter results on Feb. 20.
Medtech bellwethers Johnson & Johnson, Abbott, Boston Scientific, Stryker and Intuitive Surgical all have reported solid results in the quarter, according to analysts. Companies that will report in the next two weeks include Edwards Lifesciences, GE Healthcare, Baxter, Medtronic and Philips.
As earnings season rolls on, here are highlights so far:
