4. Smith+Nephew – (Orthopaedics + Sports Medicine)
2020 revenue $3.250B (–13.5%)
The COVID-19 pandemic’s impact on elective surgery levels also dogged Smith+Nephew’s ortho business in 2020. But the British medtech giant also saw some bright spots, including what it described as a positive reception after the launch of its next-gen Cori surgical system.
Cleared by FDA and available for both total and unicompartmental knee arthroplasty, the handheld Cori robotics platform is meant to be faster than S+N’s previous Navio system. The company also launched its Real Intelligence suite of digital surgery solutions to improve patient engagement, pre-operative planning, digital and robotic surgery, post-operative assessment and outcomes measurement.
Early this year, Smith+Nephew significantly strengthened its extremities business through the $240 million purchase of Integra LifeSciences’s business in the space. The deal brought onboard a focused sales channel and complimentary shoulder replacement and upper and lower extremities portfolios — and a new product pipeline.
Later this year, Smith+Nephew will debut its first cementless knee implant, CEO Roland Diggelmann told investors in February. Said Diggelmann: “This is probably the one portfolio gap that we’ve needed to address.”