Medical technologies and surgical devices company – CONMED Corporation (CNMD) introduced several new offerings at the 2013 American Academy of Orthopaedic Surgeons (AAOS) annual meeting in Chicago. The products that were displayed include the latest Y-Knot all suture anchors and the Hall Lithium Battery System as well as offerings from sports medicine and advanced visualization products portfolio.
The latest Y-Knot all suture anchor from CONMED’s Linvatec is a suture anchor implant used for instability repair surgeries in the shoulder and hips as well as for repair of small joints in the extremities. The Hall Lithium Battery System – also from Linvatec – is made of lithium-ion battery technology and provides more power and longevity to instruments compared to standard batteries.
Moreover, the 3D-HD Vision System used during laparoscopic surgery and the Image Recording DRSHD1080P image capturing device from CONMED’s advanced visualization portfolio were showcased at the event. Also displayed were the one-of-a-kind smooth/ribbed cannulas, the Dry Doc Cannulae and the complete line of anchors with needles used in mini-open arthroscopic surgeries, SRS Mini-Open.
In addition, CONMED also conducted medicals program at the AAOS meet to educate surgeons regarding its latest techniques in hip, shoulder and knee surgery. This apart, management launched the “Concept to CONMED” campaign at AAOS. The company displayed all its leading products since its inception 50 years ago at the meet to celebrate its revolutionary products portfolio and successful relation with the surgical community.
Our Take
CONMED is a medical products maker, specializing in surgical instruments and devices. A large percentage of the company’s products are designed for minimally invasive surgery, a trend that is extremely popular these days. We believe that these innovative offerings from the global leader in the field of arthroscopy should bolster growth going forward.
However, we remain concerned about poor capital product sales due to the sluggish macroeconomic conditions. Moreover, CONMED operates in a highly-competitive orthopedic surgery market against much larger, more technically-competent companies. Additionally, the medical devices tax under the recent healthcare reform initiatives in the U.S. is likely to put pressure on margins.
CONMED carries a Zacks Rank #4 (Sell). Not all companies in this sector are performing as badly as CONMED. Investors can consider Medical Action Industries Inc. (MDCI), which carries a Zacks Rank #1 (Strong Buy), as well as Henry Schein (HSIC) and The Cooper Companies Inc. (COO) with a Zacks Rank #2 (Buy) for better returns.
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