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J&J CFO: We've 'beefed up' cardiovascular medical devices business in hopes of reviving our medtech business [Yahoo! Finance]

Zimmer Biomet Holdings, Inc. (ZBH) 
Last zimmer biomet holdings, inc. earnings: 2/4 06:00 am Check Earnings Report
US:NYSE Investor Relations: investor.zimmerbiomet.com
Company Research Source: Yahoo! Finance
For the past decade, medical devices have been an area of stagnation for the company. It lags pharmaceuticals quarter over quarter. On Tuesday, the company reported earnings of more than $21 billion, of which medtech — surgical equipment and monitoring devices — accounted for $7.8 billion. Earlier this month, J&J announced an investment of more than $13 billion to acquire heart device maker Shockwave this year, and in 2022, it acquired Abiomed, which operates as a standalone company in J&J's medtech segment, for more than $16 billion. The company's CFO, Joe Wolk, joined Yahoo Finance to talk about the company's results and growth areas. "If you look at where our opportunity lies, I think you'd have to say [it's] in medtech. It was an area that was somewhat unreliable or unpredictable many years ago, and certainly, it was slower growth. In 2017 our growth was 1.5%, last year we enjoyed 7.8% growth," he said. Medtech used to be a stronger portfolio for the company and led the c Show less Read more
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