30 Day Trial
BARE BONES logo

BARE BONES content is posted to these pages in real time.

Monthly compilations are available in PDF form.

Product / Company Performance

Medicrea Reports 1Q19 Revenue of €7.7MM, +10.6% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

Medicrea posted 1Q19 revenue of €7.7MM (USD $9.5MM), +10.6% vs. 1Q18. U.S. sales, which represent just over half of the company’s revenue, grew 15% quarter over quarter. The number of UNiD patient-specific surgeries in the U.S. grew 68% in that same time frame.

In 2018, Medicrea discontinued two “non-strategic” products (mainly biologics) and services (surgical motor repairs) that had been generating well below the company’s 80% gross margin target. Those products and services contributed €1.2MM in revenue for 1Q18. We have removed this revenue from our performance comparison below.

UNiD surgeries continue to gain traction in the U.S., where 60% of all 3,500 UNiD surgeries to date have taken place. Within the past 12 months, 40 new surgeons have adopted UNiD ASI technology. Medicrea President and CEO Denys Sournac said, “The relevance of personalized treatment adapted to each patient is now obvious to all players in our sector. Medicrea was the pioneer and the first spine company to develop patient-specific implants and offer surgeons associated data analysis services to support their practice.”

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

  1Q19 1Q18 % Chg % Chg
Spine $8.1 $7.3 $0.8 11.0%
Orthobiologics $1.4 $1.3 $0.1 8.4%
Total   $9.5 $8.6 $0.9 10.6%

Sales by geographic region:

Geographic Region 1Q19 1Q18 % Chg % Chg
US $5.1 $4.4 $0.7 15.0%
Ex-US $4.4 $4.2 $0.2 5.9%
Total  $9.5 $8.6 $0.9 10.6%

 

Sources: Medicrea; ORTHOWORLD estimates.

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

This article is a Member-only item of content. Members, please log in to read the complete post.
If you are not yet a Member, click here to learn more about purchasing ORTHOWORLD Membership.