Smith & Nephew reports 4% revenue growth in Q3 2024 despite challenges in China

Smith & Nephew plc reported a 4% increase in underlying revenue for Q3 2024. The company highlighted progress in its strategic growth plan, particularly in its U.S. recon business, which has shown operational improvements and revenue growth. Despite overall slower performance in Orthopedics globally, the company noted strong growth in established markets and significant gains in sports medicine and Advanced Wound Management. However, a weaker performance in China’s surgical businesses impacted overall growth by nearly 2 percentage points. The company also faced pricing pressures from value-based purchasing in sports medicine, with expected volume benefits not yet realized.