Biomet Gains Hinge on Old Standby

When some people look at implant makers like Biomet (BMET Quote) and Zimmer (ZMH Quote), they see a lot to complain about.

Every year, the medical device companies promote new joint implants and surgical techniques aimed at improving hip and knee replacements. Industry-sponsored studies typically show a high success rate for the new procedures.

But critics say the industry is merely creating the illusion of success by controlling scientific research and avoiding steps that would pool independent data on surgery outcomes. These people say the industry has been miserly in its research-and-development spending, and that as a result implant science has advanced little in four decades. Yet even amid these questions about how well their devices work, the companies continue to make a bundle. ...