White House gives elective procedures green light

Shares of two of the largest orthopedic device companies started climbing this morning on news of a new White House recommendation that elective surgical procedures may resume.

Shares of Zimmer Biomet (NYSE:ZBH) were up 6.42% to $116.45 apiece in mid-morning trading and those of Stryker (NYSE:SYK) had risen 5.28% to $184.20.on both an inpatient and outpatient basis as the country begins to resume normal activities.

The decision, announced during yesterday afternoon’s White House coronavirus briefing, is part of the Trump administration’s larger plan to gradually reopen the country as the coronavirus pandemic plays out. The new federal guidelines also allow governors to take a phased and deliberate approach to reopening their individual states.

Several medical device companies, especially those in orthopedics, have suffered major drops in sales since the Centers for Medicare and Medicaid Services (CMS) recommended in March that healthcare providers postpone elective procedures until further notice to preserve personal protective equipment.

The CMS decision followed one by the American College of Surgeons calling for hospitals to “minimize, postpone or cancel” elective procedures until the coronavirus (COVID-19) outbreak slows down. This week, the surgeons’ organization published its own list of recommendations for gradually resuming outpatient procedures.

By | MassDevice

Image Credit: Zach Rudisin, CC BY-SA 3.0


About Peter Coffaro 506 Articles
Peter Coffaro is a growth-driven and strategic executive with over 25 years of progressive management success in the medical device industry. With a proven track record and recognized expertise, Peter has established himself as one of the top influencers in medical sales, as acknowledged by prestigious publications such as the World Journal of Orthopedics, Exponential Healthtech, and MedReps.com. Throughout his career, Peter has accumulated 10 years of combined sales management experience, excelling in various roles including Director, General Manager, Distributor, and Vice President. He has worked for industry-leading orthopedic companies such as Zimmer, DePuy, and Stryker, solidifying his deep knowledge and network within the field. Peter’s passion for innovation and emerging technologies led him to found OrthoFeed, an award-winning blog covering digital orthopedic news and emerging medical technologies. Through this platform, he stays at the forefront of the industry and contributes to the dissemination of valuable insights. Peter is a three-time Hall of Fame award winner at Johnson and Johnson, demonstrating his exceptional contributions and impact on the organization. His expertise extends to areas such as organizational development, business development, sales management, digital marketing, and professional education. Peter earned a B.S. degree in Biology and Chemistry from Northern Illinois University, further complementing his comprehensive understanding of the medical field. With his wealth of experience, strategic mindset, and dedication to advancing healthcare, Peter Coffaro is a valuable asset and leader in the medical device industry.

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