Medicrea Reports 2Q16 Revenue
Medicrea posted 2Q16 revenue of €7.8MM (~US $8.7MM), -2.5% vs. 2Q15.
For 1H16, the company reported revenue of €14.8MM (~$16.4MM), +7.3% vs. 1H15. (France ~$3.1MM, +20%; U.S. ~$9.9MM, +13%; Rest of World ~$3.3MM)
Leadership noted momentum in direct sales regions, and slower progress in countries without direct sales or those pressued by economic fluctuations, such as Brazil.
In the U.S., UNiD Rod cases more than doubled for 1H16 vs. 1H15. Worldwide, >800 UNiD procedures have occurred at a pace of >70 surgeries per month.
At the start of 2Q, the company reported FDA clearance to market what is reported to be the first-ever patient-specific cervical rod for spine surgery, the UNiD™ Cervical rod, which is secured by the PASS OCT® posterior cervical stabilization system.
During 2H16, will continue introduction of UNiD via direct sales into leading markets.
Sources: Medicrea, ORTHOWORLD Inc.