The UK joint group s revenue growth has been kneecapped by governments clamping down on costs. Once the next wave of orthopaedic products hit the market, government pricing power is likely to disappear.

The UK orthopaedic group s shares have sunk to a twoyear low over concern that implant prices will stagnate. This is overblown. The market should see 15% sales growth for years, as an older and obese population needs more joints replaced.