Exactech Posts 3Q16 Revenue
Exactech (EXAC) reported 3Q16 revenue of US $59.9MM, +6.5% from 3Q15. All growth is as reported.
ORTHOWORLD estimates 3Q16 segment sales and growth on an as-reported basis, as follows.
- Joint Reconstruction $55.5MM, +9.8% (Includes Other revenue attributed to subsegments)
- Hips $12.4MM, +12.7%
- Knees $18.6MM, +6.3%
- Extremities Recon $24.6MM, +11.1%
- Spine $1.9MM, -18.9%
- Orthobiologics $2.5MM, -24.9%
- Hips supported by Alteon Monoblock Revision; added ~10 more sets in 3Q; will be fully launched in 1H17
- Moving from pilot to limited launch in revision knee; expecting more substantial set availability in mid- to late-2Q17
- Momentum in Extremities Recon born of continued adoption of Equinoxe shoulder, competitive glenoid offerings, with contribution from humeral reconstruction prosthesis
- Completed first surgeries with ExactechGPS total shoulder application; expanded to revision total knee application in the U.S.
- Successfully treated first patient with Vantage Total Ankle; pilot phase commenced in 4Q
- All joint segments successfully developing U.S. sales channels
- Spine and biologics results attributed to price pressures, slower product adoption
2017 product pipeline includes:
- Alteon HA-coated hip stem (next-gen of former Element hip stem)
- Modular version of Alteon Monoblock revision stem
- Significant investments to come in total knees
- New short humeral stem for Equinoxe shoulder
- GPS for revision knee
- Line extension to Pro spinal products
- Acapella anchored cervical interbody V2
Sources: Exactech, Inc.; ORTHOWORLD Inc.