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Product / Company Performance

Medartis Grows Above Market in 1H19 on US Sales -

By Mike Evers, ORTHOWORLD

 

  • Leadership is pleased with the above market growth but noted that performance was below expectations, particularly for distributors; as a result, the company walked back its previous 2019 outlook and now expects to grow in the 8% to 10% range
  • Hand and wrist products continued their solid performance, but lower extremity products did not perform to expectations
  • Distributors in Europe held back from investing in sets due to uncertainty around the EU’s Medical Device Regulation
  • Medartis is investing in sterile disposable packaging in anticipation of increased demand in Europe
  • Australian sales were impacted by a 7% nation-wide reduction in reimbursement, while seasonal slowdowns affected sales in Japan

 

Performance by Segment

ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM):

  1H19 1H18 $ Chg % Chg
Trauma $59.0 $55.8 $3.2 5.7%
Other (CMF) $5.8 $5.5 $0.3 6.3%
Total $64.8 $61.3 $3.5 5.7%

 

Sales by Geographic Region

ORTHOWORLD estimates geographic sales and growth as follows ($MM):

  1H19 1H18 $ Chg % Chg
US $10.8 $9.3 $1.4 15.1%
Ex-US $54.1 $51.9 $2.1 4.1%
   EMEA $34.9 $34.2 $0.7 2.1%
   Asia Pacific $11.6 $11.3 $0.3 2.7%
   Rest of World $7.6 $6.5 $1.1 16.9%
Total $64.8 $61.3 $3.5 5.7%

 

Sources: Medartis; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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