Medtronic Vet Christopher Barry Takes Helm At Nuvasive
About three years after becoming CEO of NuVasive, Gregory Lucier is ceding the role to Barry, who has led Medtronic's Surgical Innovations business, effective Nov. 5. Lucier will continue to serve as chairman of the board for the San Diego-based minimally-invasive spine surgery technology company.
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Reported sales and earnings from the big publicly traded orthopedics device companies showed mostly slow growth in 2018, but NuVasive and Stryker reported high single-digit growth while, Smith & Nephew grew in the low single-digits, fueling reports that Smith & Nephew may try to buy NuVasive.
Reported sales and earnings from the publicly traded orthopedics device companies showed mix results during the third quarter of 2018. NuVasive was the star performer in the group while, on the other end of the spectrum, Stryker continued to show strong growth across most its businesses, while Johnson & Johnson's orthopedic device revenue was near flat.</p>
Medtronic may not have hit the headlines with any M&A deals this year so far, but the medtech giant has turned in an impressive set of first-fiscal quarter results driven by strong product sales. Organic growth, according to CEO Omar Ishrak, is currently the company's main goal, but it won't dismiss any tuck-in acquisitions that complement this organic growth and the firm will act promptly when the right opportunity comes knocking.