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Product / Company Performance

Medartis reports 2018 revenue of CHF 121.3MM (USD $121.9MM), +15.5% vs. 2017 -

By Mike Evers, ORTHOWORLD

Swiss surgical fixation company Medartis posted 2018 revenue of CHF 121.3MM (USD $121.9MM), +15.5% vs. 2017. After completing its 2018 IPO, the company went on to drive double-digit growth nearly across the board for its product lines and geographies. Medartis expects double-digit sales growth once again in 2019 based on new products and continued strong sales in EMEA.

The company’s largest business, upper extremity fixation, grew 13% on the strength of hand, wrist and elbow products. Lower extremity fixation, Medartis’ newest segment, grew 28% for the year. Sales of their craniomaxillofacial products as well as instruments, classified as Other below, grew 16%. The company launched proximal humerus plates for the treatment of shoulder fractures in late 2018 and plans to launch a new generation of CMF products in 2020.

Medartis’ investments in U.S. management and sales force showed benefits, with nearly 11% growth in North America. The company’s largest region, EMEA, grew 15% while Australia and Japan drove Asia Pacific to 9.9% growth. Rest of World grew 10% organically, with the remainder coming from Medartis’ 2017 acquisition of Brazilian distributor Extera.  

ORTHOWORLD estimates segment sales and growth on an as-reported basis as follows.

  FY18 FY17 $ Change % Change
Trauma $110.9 $96.1 $14.8 15.4%
Other (CMF) $11.0 $9.5 $1.5 16.1%
Total  $121.9 $105.5 $16.4 15.5%

Sales by geographic region:

Geographic Region FY18 FY17 $ Change % Change
US $19.4 $17.5 $1.9 10.9%
Ex-US $102.5 $88.1 $14.5 16.4%
EMEA $66.7 $58.0 $8.6 14.9%
Asia Pacific $22.9 $20.8 $2.1 9.9%
Rest of World $12.9 $9.2 $3.8 40.8%
Total  $121.9 $105.5 $16.4 15.5%

 

Sources: Medartis; ORTHOWORLD estimates.

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

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