Synthes reports rising revenue in first quarter of 2011

Synthes has experienced an improved financial performance in the first quarter of 2011, according to its new fiscal report.

The medical technology firm, which is set to be acquired by Johnson and Johnson, reported a rise in global revenue of 7.8 percent compared to Q1 2011 to reach a total of $983 million (595.52 million pounds).

Takings were bolstered by the recent acquisition of Anspach, the launch of new products in the trauma category and greater-than-expected demand for the Matrix pedicle screw system, as well as "exceptional" results from Asia Pacific.

Synthes stated that it will continue to seek market share gains in all four of its main divisions, primarily through further new product launches.

Michel Orsinger, president and chief executive officer of the company, said: "Synthes is off to a solid start in 2011, especially considering the strong 2010 sales base and the challenging market environment."

Under the terms of the merger deal announced in the last week, Synthes is set to become part of Johnson and Johnson's DePuy division, with the deal set to be closed in the first half of 2012.