Welcome to our dedicated page for CONMED Corporation news (Ticker: CNMD), a resource for investors and traders seeking the latest updates and insights on CONMED Corporation stock.
CONMED Corporation (symbol: CNMD) is a global leader in medical technology, specializing in the development and sale of innovative surgical and patient monitoring products. Headquartered in Utica, New York, CONMED employs approximately 3,500 individuals who are dedicated to improving healthcare quality through high-quality product design, production, and marketing.
The company's core business encompasses a diverse range of specialties, including orthopaedics, general surgery, gynecology, gastroenterology, pulmonology, and anesthesiology. These products are known for their technological advancements, enabling physicians to deliver superior care and achieve enhanced clinical outcomes for their patients.
CONMED operates through two primary reporting units: Orthopedic Surgery and General Surgery. Geographically, the company is U.S.-centric, with the majority of its revenue generated domestically. The EMEA region contributes the second-largest revenue share, followed by APAC and the non-U.S. Americas.
The company's recent achievements include advancements in their surgical products and technology, which continue to set industry standards. Current projects are focused on enhancing product efficiency and expanding their global reach through strategic partnerships and innovations.
CONMED's mission centers around improving healthcare quality. Each employee is committed to customer satisfaction and enhanced patient outcomes, reflecting the company's core values. They strive to exhibit thoughtful leadership, provide meaningful opportunities for employees, and act as a responsible corporate citizen in the communities where they operate.
Recent news highlights include ongoing developments in their product lines and strategic initiatives to bolster market presence. With a strong financial foundation and continuous innovation, CONMED remains a pivotal player in the medical technology sector.
CONMED Corporation (NYSE: CNMD) has declared a quarterly cash dividend of $0.20 per share, payable on October 5, 2022, to shareholders on record as of September 15, 2022. This financial move reinforces the company's commitment to returning value to its shareholders. CONMED specializes in surgical devices and equipment for minimally invasive procedures across various medical specialties.
CONMED Corporation (NYSE: CNMD) has finalized its acquisition of Biorez, Inc., a medical device start-up in New Haven, CT, specializing in soft tissue healing through the BioBrace® Implant technology. This innovative device aims to reinforce weak soft tissues and facilitate healing. The acquisition is funded through CONMED's existing credit facility, underscoring its commitment to enhancing its product offerings in the medical technology sector.
CONMED Corporation (NYSE: CNMD) has announced its acquisition of Biorez, Inc. for $85 million, with potential earnout payments reaching $165 million. This strategic purchase aims to enhance CONMED's sports medicine portfolio through Biorez's proprietary BioBrace® Implant technology, which promotes soft tissue healing. The deal will contribute an estimated $1 million in revenue to CONMED's 2022 outlook but is expected to be dilutive to cash earnings per share in the short term. A conference call will provide further details for investors.
CONMED Corporation (NYSE: CNMD) reported Q2 2022 financial results, with sales of $277.2 million, an 8.6% year-over-year increase. Domestic revenue rose 3.9%, while international revenue increased by 14.7%. However, the company faced a diluted net loss of $5.65 per share, contrasting with earnings of $0.41 in Q2 2021. Adjusted diluted earnings per share rose 7.0% to $0.76. Due to currency fluctuations, CONMED has lowered its 2022 revenue guidance to between $1.095 billion and $1.140 billion. The acquisition of In2Bones was closed on June 13, 2022.
CONMED Corporation (NYSE: CNMD) will report its second quarter 2022 financial results after market close on July 27, 2022. A conference call to discuss these results will be hosted by the company's management at 4:30 p.m. ET on the same day. Interested participants can pre-register for the call to obtain the dial-in number and passcode or access the webcast via the Investors section of CONMED's website. The replay will be available one hour post-call.
CONMED Corporation (NYSE: CNMD) has finalized its acquisition of In2Bones Global Inc., a Memphis-based developer of medical devices targeting upper and lower extremity disorders. The acquisition will be financed through proceeds from the company's convertible notes, borrowed funds from an amended credit facility, and available cash. The full impact of the acquisition on 2022 financial results will be clarified in the second quarter financial report due in late July. This strategic move aims to enhance CONMED's product offerings in the medical device market.
CONMED Corporation (NYSE: CNMD) has priced a private offering of $700 million in 2.25% convertible senior notes due 2027. The offering includes an option for initial purchasers to acquire an additional $100 million. The net proceeds will fund convertible note hedge transactions, repurchase existing notes, and finance a portion of its acquisition of In2Bones Global, Inc. The notes will pay interest semi-annually and will be convertible under specific conditions, with a conversion price set at approximately $145.33 per share, representing a 30% premium to the stock's recent price.
CONMED Corporation (NYSE: CNMD) announced a private offering of $600 million in convertible senior notes due 2027. The offering may increase by an additional $100 million if the initial purchasers exercise their option. Proceeds are intended for costs related to the convertible note hedge transactions, repurchasing existing notes, and funding the acquisition of In2Bones Global, Inc. The notes will mature on June 15, 2027, and are subject to specific conversion conditions. The overall offering structure aims to minimize dilution of common stock upon conversion.
CONMED Corporation (NYSE: CNMD) has declared a quarterly cash dividend of $0.20 per share, payable on July 5, 2022, to shareholders of record as of June 15, 2022. The company specializes in medical technology, providing surgical devices for minimally invasive procedures across various specialties including orthopedics and general surgery. This dividend declaration reflects the company's commitment to return value to its shareholders amidst ongoing market uncertainties, including challenges posed by the COVID-19 pandemic.
CONMED Corporation (NYSE: CNMD) has announced a definitive agreement to acquire In2Bones Global, Inc. for $145 million upfront and up to $110 million in earnout payments over four years. The acquisition, aimed at expanding CONMED's orthopedic portfolio into the extremities market, is expected to close in late Q2 or early Q3 2022, pending regulatory approval. In2Bones reported 2021 revenues of $36.8 million with 80% gross margins. The deal is projected to contribute $20 million to CONMED's revenue in H2 2022 and to be accretive to adjusted EBITDA thereafter.
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