The pandemic hasn’t stopped orthopaedic and spine specialists from moving forward with robotic surgery products. In the second half of this week, Stryker, NuVasive and Globus Medical each reported Wall Street-beating earnings and revenue numbers and simultaneously shared updates on their pre-commercial and on-the market systems.
For the second quarter in a row, Stryker bucked concerns that COVID-19’s financial strain on hospitals and health systems would preclude investments in robots.
Sales of its Mako robot, which can assist in knee and hip replacement procedures, grew 30% in the U.S. during the quarter. Stryker also passed the 1,000 worldwide installations mark for the product and saw its highest number of quarterly placements in ambulatory surgery centers to date. And in markets outside of the U.S., such as Europe and Japan, a second quarter pause in Mako momentum lifted, Stryker reported.
CEO Kevin Lobo expects Mako placements to further accelerate in the fourth quarter and the bold outlook is “really irrespective of competition,” the chief exec said. Stryker’s main robotics competitor for hip and knee replacements, Zimmer Biomet, will likely discuss progress with its Rosa robotic platform during its third-quarter earnings call next Friday, Nov. 6.
Lobo also addressed, but shared few details on, future applications for spine and shoulder procedures. When asked about spine, where Stryker also has technology from its acquisition last year of Mobius, Lobo said the company is actively working on an offering but is not yet ready to discuss it publicly. Likewise, Lobo declined to share a timeline or details on implants that will be used with the shoulder indication it’s making progress on.
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