CONMED (CNMD) Piper Sandler 36th Annual Healthcare Conference summary

Leadership transition and strategic vision

• Incoming CEO brings over 35 years of med tech experience, emphasizing growth and continuity in company culture.

• Focus remains on simplifying the business narrative and maintaining a growth-oriented mindset.

• Leadership aims for thoughtful, communicable guidance and collaborative decision-making.

Product portfolio and growth drivers

• Key markets include laparoscopy, biologics, and sports foot and ankle, with strong contributions from recent acquisitions and technologies like AirSeal, Buffalo Filter, In2Bones, and BioBrace.

• AirSeal continues to be a major growth driver, with robust demand in both robotic and non-robotic markets and high customer retention due to product differentiation.

• Buffalo Filter benefits from increasing legislative support for smoke evacuation, with expectations for continued market expansion.

• BioBrace has expanded to over 40 clinical indications, launched new product sizes, and demonstrated strong clinical results, especially in rotator cuff and foot/ankle applications.

Market outlook and financial performance

• AirSeal is projected to maintain high growth rates globally for several years, with a durable market presence.

• Buffalo Filter's market is expected to grow from $300 million to over $1 billion, driven by technology and regulatory tailwinds.

• BioBrace is positioned to become a $100 million+ product as the augmentation market expands, supported by clinical data and portfolio growth.

• Foot and ankle business has resolved supply chain issues and differentiates through sales force, broad portfolio, and biologics.