The market for robotic knee replacement surgery is intensifying as Stryker's Mako system dominates with over 1mn procedures, while Smith & Nephew fights back with its new Landmark knee and Cori handheld robot. Deepak Nath, CEO of the FTSE 100 company, faces pressure after shares fell 20% and activist investor Cevian raised its stake to 14%.
Stryker's Mako robots, priced around $1mn, have created high switching costs for surgeons. Smith & Nephew's Cori platform aims to compete on price and flexibility, targeting US day surgery centres and the slower-adopting NHS in the UK. The company's previous Journey knee was overtaken by Stryker's Triathlon and Zimmer Biomet's Persona.
With 3mn global knee replacements annually — 1mn in the US alone — the shift toward robot-assisted, cementless procedures is accelerating. Average patient age is falling as active middle-aged people wear out joints faster. Smith & Nephew's turnaround hinges on Landmark's adoption against entrenched rivals Zimmer Biomet and Johnson & Johnson's DePuy Synthes.
Source: Financial Times Companies · Summarized by HeadlinesBriefing