Copy to clipboard 
Enovis reported 2Q22 orthopedic sales of $147.2 million, +39.9% vs. 2Q21.
While incremental revenue from acquisitions contributed the majority of the company’s second-quarter growth, Enovis still drove above-market organic growth of 5.7%. That puts the company on track to achieve the mid-point of its previously given organic growth guidance of 6% to 9% for 2022.
While most of the company’s acquisitions are performing to expectations, Enovis said there is regulatory work to be done for the STAR total ankle system purchased from Stryker in late 2020. Additionally, the company is consolidating its foot and ankle channel.
Enovis CEO Matt Trerotola said, “We’re working through a channel consolidation to create one aligned strong channel for our foot and ankle business. That resulted in a little bit of short-term churn in the first half of the year, particularly in the second quarter. We expect to be well into the double digits in the back half of the year in foot and ankle.”
The company is excited about the potential of its latest acquisition, the ARVIS augmented reality navigation system from Insight Medical Systems. The system is small, self-contained and comes at a lower price point than most enabling technologies in joint replacement. Enovis sees ARVIS as a great fit in ASC settings and a crucial tool to convert surgeons from competitors.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $125.4 | $83.9 | $41.6 | 49.6% |
| Knees | $19.0 | $11.6 | $7.4 | 64.2% |
| Hips | $42.0 | $27.7 | $14.4 | 52% |
| Extremities | $64.4 | $44.6 | $19.8 | 44.3% |
| Trauma | $5.9 | $5.4 | $0.6 | 10.4% |
| Other (Recovery Sciences) | $15.8 | $16.0 | ($0.2) | (1.2%) |
| Total | $147.2 | $105.2 | $41.9 | 39.9% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $249.8 | $155.9 | $93.9 | 60.3% |
| Knees | $37.7 | $22.2 | $15.4 | 69.5% |
| Hips | $82.2 | $51.2 | $31.0 | 60.6% |
| Extremities | $130.0 | $82.5 | $47.5 | 57.5% |
| Trauma | $12.1 | $9.1 | $3.0 | 32.5% |
| Other (Recovery Sciences) | $31.3 | $30.6 | $0.7 | 2.1% |
| Total | $293.2 | $195.6 | $97.6 | 49.9% |
Orthopedic Sales by Geography
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $110.4 | $101.0 | $9.4 | 9.3% |
| OUS | $36.8 | $4.2 | $32.6 | 774.1% |
| EMEA | $29.4 | $2.1 | $27.3 | 1298.6% |
| Asia Pacific | $5.2 | $1.6 | $3.6 | 226.3% |
| Rest of World | $2.2 | $0.5 | $1.7 | 319.6% |
| Total | $147.2 | $105.2 | $41.9 | 39.9% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $219.2 | $186.9 | $32.3 | 17.3% |
| OUS | $74.0 | $8.7 | $65.3 | 748% |
| EMEA | $57.9 | $4.4 | $53.5 | 1226.7% |
| Asia Pacific | $11.0 | $3.4 | $7.6 | 224.6% |
| Rest of World | $5.1 | $1.0 | $4.2 | 424.2% |
| Total | $293.2 | $195.6 | $97.6 | 49.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $395.1 | |
| Cost of Sales | $179.2 | 45.4% |
| Selling and Admin | $225.5 | 57.1% |
| Other | ($86.4) | (21.9%) |
| Net Earnings | $76.9 | 19.5% |
Enovis reported 2Q22 orthopedic sales of $147.2 million, +39.9% vs. 2Q21.
While incremental revenue from acquisitions contributed the majority of the company's second-quarter growth, Enovis still drove above-market organic growth of 5.7%. That puts the company on track to achieve the mid-point of its previously given organic growth...
Enovis reported 2Q22 orthopedic sales of $147.2 million, +39.9% vs. 2Q21.
While incremental revenue from acquisitions contributed the majority of the company’s second-quarter growth, Enovis still drove above-market organic growth of 5.7%. That puts the company on track to achieve the mid-point of its previously given organic growth guidance of 6% to 9% for 2022.
While most of the company’s acquisitions are performing to expectations, Enovis said there is regulatory work to be done for the STAR total ankle system purchased from Stryker in late 2020. Additionally, the company is consolidating its foot and ankle channel.
Enovis CEO Matt Trerotola said, “We’re working through a channel consolidation to create one aligned strong channel for our foot and ankle business. That resulted in a little bit of short-term churn in the first half of the year, particularly in the second quarter. We expect to be well into the double digits in the back half of the year in foot and ankle.”
The company is excited about the potential of its latest acquisition, the ARVIS augmented reality navigation system from Insight Medical Systems. The system is small, self-contained and comes at a lower price point than most enabling technologies in joint replacement. Enovis sees ARVIS as a great fit in ASC settings and a crucial tool to convert surgeons from competitors.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $125.4 | $83.9 | $41.6 | 49.6% |
| Knees | $19.0 | $11.6 | $7.4 | 64.2% |
| Hips | $42.0 | $27.7 | $14.4 | 52% |
| Extremities | $64.4 | $44.6 | $19.8 | 44.3% |
| Trauma | $5.9 | $5.4 | $0.6 | 10.4% |
| Other (Recovery Sciences) | $15.8 | $16.0 | ($0.2) | (1.2%) |
| Total | $147.2 | $105.2 | $41.9 | 39.9% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $249.8 | $155.9 | $93.9 | 60.3% |
| Knees | $37.7 | $22.2 | $15.4 | 69.5% |
| Hips | $82.2 | $51.2 | $31.0 | 60.6% |
| Extremities | $130.0 | $82.5 | $47.5 | 57.5% |
| Trauma | $12.1 | $9.1 | $3.0 | 32.5% |
| Other (Recovery Sciences) | $31.3 | $30.6 | $0.7 | 2.1% |
| Total | $293.2 | $195.6 | $97.6 | 49.9% |
Orthopedic Sales by Geography
| 2Q22 | 2Q21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $110.4 | $101.0 | $9.4 | 9.3% |
| OUS | $36.8 | $4.2 | $32.6 | 774.1% |
| EMEA | $29.4 | $2.1 | $27.3 | 1298.6% |
| Asia Pacific | $5.2 | $1.6 | $3.6 | 226.3% |
| Rest of World | $2.2 | $0.5 | $1.7 | 319.6% |
| Total | $147.2 | $105.2 | $41.9 | 39.9% |
| 1H22 | 1H21 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $219.2 | $186.9 | $32.3 | 17.3% |
| OUS | $74.0 | $8.7 | $65.3 | 748% |
| EMEA | $57.9 | $4.4 | $53.5 | 1226.7% |
| Asia Pacific | $11.0 | $3.4 | $7.6 | 224.6% |
| Rest of World | $5.1 | $1.0 | $4.2 | 424.2% |
| Total | $293.2 | $195.6 | $97.6 | 49.9% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $395.1 | |
| Cost of Sales | $179.2 | 45.4% |
| Selling and Admin | $225.5 | 57.1% |
| Other | ($86.4) | (21.9%) |
| Net Earnings | $76.9 | 19.5% |
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
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.
