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Zimmer Biomet beats quarterly profit estimates on knee procedure strength

Zimmer Biomet Holdings Inc on Tuesday beat Wall Street estimates for third-quarter profit, as a rebound in knee surgeries lifted demand for the medical device maker's products. On an adjusted basis, the company reported a profit of $1.65 per share, compared with analysts' average estimate of $1.60, according to LSEG data. Larger peers Abbott Laboratories and Boston Scientific had also topped quarterly profit estimates on easing staffing shortages and a surge in hospital admissions for elective procedures deferred during the pandemic.

Philips says settles US claims over respirator recall

Philips said Thursday it had clinched a deal in the United States to settle claims related to a recall of sleep respirators that rocked the Dutch medical tech firm.Philips had previously announced in May that independent tests showed the sleep respirators at the centre of the massive recall were "unlikely" to harm patients.

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