"We need to address the real problem." Top of mind for orthopaedic surgeons at OMTEC®, that problem is delivery of care. Current instrument options lead to changes in surgical planning, downtime between surgeries, significant cost assumed by the hospital or surgery center and inventory management conundrums.
Sales from arthroscopy/soft tissue repair products in 2017 surpassed $5.3 billion and grew 6.2% vs. 2016, according to our estimates published in THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT®. The segment exceeded our projections, in part due to better-than-expected growth by players like DePuy Synthes, Stryker and Zimmer Biomet.
Of the 10 companies that announced funding in the first half of the year, just four focus on traditional hardware. Others include biologics, artificial ligaments and software to support device customization.
PEEKplus® nanotextured surface is created with proprietary Accelerated Neutral Atom Beam technology; this reportedly represents the first FDA-cleared nanotextured surface on a PEEK interbody. This process may be developed to improve other orthopaedic devices, too.
As head of Stryker Orthopaedics, Mr. Floyd oversaw a number of acquisitions from 2013 to today--most notably Mako Surgical, and also Instratek, Small Bone Innovations and Stanmore Implants. Responsibility for all operating business and regions will now fall to Mr. Timothy Scannell, who assumes the title of President and Chief Operating Officer as of August 2018.