Medtronic’s quarterly results yesterday might presage a recovery, and some groups are in dire need of one.
And the move will shake up the orthopaedic robotics scene.
In the second half of 2020 medtech began a tentative – and possibly short-lived – recovery.
Though orthopaedics companies have begun to recover from the second quarter’s horrors, it is clear that the third quarter belongs to the diagnostics specialists.
The Covid-19 pandemic has scythed vast sums from joint makers’ Q2 sales. But Medtronic’s summer earnings were better than those for its spring quarter.
Success or failure on the stock markets this year depended almost entirely on whether a company’s devices could be used to treat coronavirus patients.
Medtronic has had a poor quarter owing to the pandemic – but Zimmer’s has been even worse.
Sales of implants are set to fall sharply as non-urgent procedures are deferred.