MAKO Disappoints in 2Q; Shakes Up Management (Orthopedics This Week)
On July 9, MAKO Surgical Corp. announced "slower than expected growth" for the first half of the year.
Sales Leader Resigns
By July, 12, the company announced that the its senior VP of sales and marketing for the last six years, Steven Nunes, would resign on July 17, 2012. Maurice R. Ferré, M.D., MAKO's president and CEO, will assume sales responsibilities on an interim basis while MAKO conducts a search for a senior vice president of sales. Ivan Delevic, MAKO's senior vice president of strategic marketing and business development, will transition to the new role of senior vice president of marketing and assume commercial marketing responsibilities, in addition to his existing strategic marketing responsibilities.
Lowered Guidance
In addition to announcing the less than expected growth, the company also, once again, lowered guidance. The company now expects to sell 42-48 systems and perform 11,000 to 12,000 procedures for the year. Previously the company had expected to sell 52-58 systems and perform up to 13,000 procedures.
Mike Matson, Mizuho Securities USA senior analyst, said it appears that MAKOplasty adoptio...
