ConMed Reports 3Q17 Arthroscopy/Soft Tissue Repair Revenue

ConMed posted 3Q17 arthroscopy/soft tissue repair revenue of US $98.6MM, -0.8% vs. 3Q16, and YTD revenue of $307.9MM, -0.8% vs. the prior year.

ConMed’s -0.8% year-over-year revenue decrease for the 9 months ended September 2017 is an improvement from its position at this time last year, when 9 months ended September 2016 posted a decrease of -4.4%.

The revenue decrease for 3Q17 and year-to-date are attributed to increased sales of sports medicine single-use products that were offset by declines in capital equipment sales.

Ex-U.S. sales achieved a sixth consecutive quarter of growth at +5.0%, benefitting from strong sports medicine performance, though U.S. orthopaedic revenue continues to struggle, dropping by -8.8%. Domestic revenues were reduced by ~$1.2MM due to weather-related deferred or lost sales in Florida, South Carolina and Texas.

Still, the contribution from new products, new purchasing contracts and salesforce development is expected to bolster U.S. revenue through the close of the year. ConMed is on track to release three more products by year-end, bringing its full-year total to 20 new products. Further, the early-3Q17 acquisition of MedShape’s ExoShape Anterior Cruciate Ligament fixation system should contribute to upward momentum.

Source: ConMed Corporation