Medicrea Posts 3Q16 Revenue
Medicrea posted 3Q16 revenue of €6.8MM (~US $7.6MM), -4.3% vs. 3Q15.
For 9Mo16, the company reported revenue of €21.6MM (~$24.1MM), +3.3% vs. 9Mo15. (France +13%; U.S. +9%)
Quarterly sales were impacted by a temporary decrease in EU activity, while U.S. and France adoption of UNiD patient-specific technology supported YTD growth. Medicrea expects to reach a 1,000 milestone of UNiD procedures by the end of November 2016.
UNiD technology received its first FDA 510(k) clearance in 4Q11, and the system launched in Europe in 2Q14. In 2Q16, the company announced 510(k) clearance for a patient-specific cervical rod.
Leadership noted that, as of early September, Medicrea has engaged in relocation of production and office HQ to a new site near Lyon, France. The company operates with 150 employees, including 50 at Medicrea USA in New York.
Sources: Medicrea, ORTHOWORLD Inc.