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Will it ever be dethroned? Stryker led the orthopedic elite again in its most recent fiscal year, with revenue gains in the double digit percentage range. Otherwise, sales hikes in the Top 10 remained in single-digit percentages—with the notable exception of Globus Medical, which posted the highest sales rise at just over 16%.
Johnson & Johnson’s planned separation of its DePuy Synthes orthopedics business was undoubtedly the hottest news in orthopedics this past year. Announced in October, J&J hasn’t yet revealed the plan for DePuy—the company is exploring both spinoff and sale options to house the longstanding orthopedics franchise. Almost as hot was Stryker waving goodbye to its spine business, as it moved to live with the Viscogliosi Brothers as VB Spine.
On the flip side of M&A activity, Zimmer Biomet welcomed extremity device maker Paragon 28 into its arms less than a month into 2025 in a $1.1 billion deal, the industry’s largest of the year. Medtronic revealed it would grab peripheral nerve stimulation company SPR Therapeutics for $650 million at the end of its fiscal year and closed the deal three months later. Globus acquired Nevro for $250 million, adding spinal cord stimulation devices to its growing portfolio.
Leadership transitions also took place for three of the top orthopedic players. Dan Scavilla tendered his resignation as Globus’ president and CEO to lead Dentsply Sirona, with CFO/COO Keith Pfeil promoted in his stead. Enovis leader Matt Trerotola retired as CEO, replaced by former LivaNova chief executive Damien McDonald. Stryker finance chief Glenn Boehnlein also decided to retire after 22 years with the company, and Orthopaedics group CFO Preston Wells assumed his position.
We hope you enjoy reading this year’s Top 10 report.
Editors’ note: As you read our report, please take note that while the companies are ranked according to sales reported for their most recent fiscal year, some may include non-device and/or non-orthopedic sales within a division, such as device-related services. Not all companies explicitly break out the device portion of total revenues. We consulted numerous public documents and contacted company officials as needed to arrive at the best estimates.
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