Smith & Nephew robot firm involved in US knee surgery
ORTHOPAEDICS specialist Smith & Nephew’s acquisition last year of a company that makes robot-controlled surgical tools has paid off after its key product won approval from regulators and carried out its first operation.
The Navio surgical robot has performed a full knee replacement at a hospital in New York, following clearance from the US Food and Drug Administration in May.
It is an important milestone for Smith & Nephew, which bought the company behind the device, Blue Belt Technologies, for $275m (£180m) last year, hoping the technology could be applied to total knee-replacement surgery, which accounts for 80pc of all knee-replacement procedures in the US.
During the procedure, the surgeon uses the Navio robot to scan the knee using 3D software. He then designs the operation so that when it comes to making the first cut, the robot makes sure the surgeon is not cutting in the wrong place. In fact, it ensures that the entire procedure is done so precisely that the implant fits perfectly into the knee.
Smith & Nephew’s finance director, Julie Brown, expects sales at Blue Belt to grow by more than 60pc this year, thanks to the regulatory approval.
The announcement came as the orthopaedics giant reported a 19pc decline in operating profit in the first half of the year. The sharp decrease was down to a number of factors, including a one-off $45m gain in same period last year, declining sales in emerging markets, and changes in currency values.
Emerging markets, which represented 14pc of group revenues in the first half, posted a 4pc decline in sales as trading in China and the Middle East remained challenging.
Shares in Smith & Nephew fell 5.6pc to close at £12.27.