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AK Medical reported 1H20 orthopedic revenue of RMB 465.7 million (USD $65.9 million), +9.3% vs. 1H19. With the vast majority of its sales in mainland China, the company benefitted from the quicker suppression and recovery from the pandemic there. AK Medical pivoted to digital education during the half, holding 76 training sessions for approximately 30,000 surgeons. The company also secured a tender for provincial level procurement of joint replacement products in Fujian province.
AK Medical completed the acquisition of the Libeier brand in late April 2020, bolstering its spinal and trauma portfolio. The acquisition provided the company with access to over 800 hospitals in China and generated approximately $1.3 million in revenue by the end of the first half. The spinal assets from the purchase add to AK Medical’s 3D-printed interbody cages and artificial vertebral bodies.
AK Medical is the first orthopedic company to launch 3D-printed metal implants approved by the Chinese National Medical Products Administration (NMPA). The company has five certificates for 3D printing from the NMPA covering an acetabular cup, spinal interbody cages, artificial vertebra bodies, a pelvic defect matching prosthesis and a customized cervical fusion device.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $61.3 | $57.5 | $3.8 | 6.6% |
| Knees | $17.8 | $16.4 | $1.4 | 8.4% |
| Hips | $43.5 | $41.1 | $2.4 | 5.9% |
| Spine | $3.5 | $2.7 | $0.7 | 26.1% |
| Trauma | $1.1 | |||
| Total | $65.9 | $60.3 | $5.6 | 9.3% |
Geographic Sales
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $4.2 | $5.7 | ($1.5) | (25.8%) |
| OUS | $61.6 | $54.6 | $7.1 | 12.9% |
| EMEA | $0.7 | $0.9 | ($0.2) | (25.8%) |
| Asia Pacific | $60.3 | $52.8 | $7.5 | 14.2% |
| Rest of World | $0.7 | $0.9 | ($0.2) | (25.8%) |
| Total | $65.9 | $60.3 | $5.6 | 9.3% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
AK Medical reported 1H20 orthopedic revenue of RMB 465.7 million (USD $65.9 million), +9.3% vs. 1H19. With the vast majority of its sales in mainland China, the company benefitted from the quicker suppression and recovery from the pandemic there. AK Medical pivoted to digital education during the half, holding 76 training sessions for...
AK Medical reported 1H20 orthopedic revenue of RMB 465.7 million (USD $65.9 million), +9.3% vs. 1H19. With the vast majority of its sales in mainland China, the company benefitted from the quicker suppression and recovery from the pandemic there. AK Medical pivoted to digital education during the half, holding 76 training sessions for approximately 30,000 surgeons. The company also secured a tender for provincial level procurement of joint replacement products in Fujian province.
AK Medical completed the acquisition of the Libeier brand in late April 2020, bolstering its spinal and trauma portfolio. The acquisition provided the company with access to over 800 hospitals in China and generated approximately $1.3 million in revenue by the end of the first half. The spinal assets from the purchase add to AK Medical’s 3D-printed interbody cages and artificial vertebral bodies.
AK Medical is the first orthopedic company to launch 3D-printed metal implants approved by the Chinese National Medical Products Administration (NMPA). The company has five certificates for 3D printing from the NMPA covering an acetabular cup, spinal interbody cages, artificial vertebra bodies, a pelvic defect matching prosthesis and a customized cervical fusion device.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $61.3 | $57.5 | $3.8 | 6.6% |
| Knees | $17.8 | $16.4 | $1.4 | 8.4% |
| Hips | $43.5 | $41.1 | $2.4 | 5.9% |
| Spine | $3.5 | $2.7 | $0.7 | 26.1% |
| Trauma | $1.1 | |||
| Total | $65.9 | $60.3 | $5.6 | 9.3% |
Geographic Sales
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $4.2 | $5.7 | ($1.5) | (25.8%) |
| OUS | $61.6 | $54.6 | $7.1 | 12.9% |
| EMEA | $0.7 | $0.9 | ($0.2) | (25.8%) |
| Asia Pacific | $60.3 | $52.8 | $7.5 | 14.2% |
| Rest of World | $0.7 | $0.9 | ($0.2) | (25.8%) |
| Total | $65.9 | $60.3 | $5.6 | 9.3% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
