CONMED Corporation, headquartered in Utica, New York, is a major medical products manufacturer specializing in surgical instruments and devices. Approximately 60% of the company's revenues are derived from products designed for the orthopedic surgery markets of arthroscopy and powered surgical instruments. The company also sells products for general and other surgical specialties such as electrosurgery systems for all types of surgery, and endosurgery instruments for minimally invasive laparoscopic surgery. Patient Care products, including ECG electrodes for heart monitoring and pulse oximetry for blood oxygenation monitoring, are provided for various clinical settings. The company has six major product line categories: Arthroscopy (35% of 2006 sales), Powered Surgical Instruments (21%), Electrosurgery (15%), Patient Care (12%), Endoscopic Technologies (9%), and Endosurgery (8%). Approximately 75% of the company's revenue is recurring, derived from the sale of disposable single-use products. Capital equipment such as powered drills and saws for surgery, electrosurgical generators, video-imaging cameras, fluid control systems, and surgical hand-pieces are marketed to facilitate the sale of the disposable products. CONMED, with 3,200 employees, has six manufacturing facilities and distributes its products globally through its own U.S. sales network, international direct marketing in nine countries, and specialty distributors in other countries.
CONMED has significant market growth opportunities due to favorable demographics. The aging of the population, combined with a more active and subject-to-injury population, results in the growth of surgical procedures. The growth in surgical procedures also reflects technological improvements that offer safer and less invasive surgical procedures. We estimate surgical procedures are growing in the low-to-mid single digits.(Read more at Wikinvest )