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Product / Company Performance

Medicrea Reports 4Q18 Revenue of €8MM, +33.3% vs. 4Q17 -

By Mike Evers, ORTHOWORLD

Medicrea posted 4Q18 revenue of €8MM (USD $9.9MM), +33.3% vs. 4Q17, and full-year 2018 revenue of €32.2MM (USD $39.7MM), +18.8% vs. 2017. At the close of the third quarter, we projected Medicrea full-year revenue of €31.4MM, which the company surpassed by 2.8%.

This represents the best fourth quarter performance in the patient-specific spine-focused company’s history, driven by acceleration of U.S. sales and contributions from new subsidiaries in Belgium and Australia. Nearly 3,200 UNiD Adaptive Spine Intelligence surgeries have been completed to date, with about 40% of them occurring in 2018. Medicrea considers the U.S. its “priority market” and continues to gain traction there.

CEO Denys Sournac said, “The number of patient-specific surgeries performed in the United States was up sharply by 94% compared to the fourth quarter of 2017. We have seen an increase in surgeries each quarter and we should quickly surpass the threshold of 100 UNiD surgeries per month in the U.S. market.”

To expand their U.S. product offering, Medicrea is in the process of seeking FDA clearance to market its latest generation of tulip screw for surgeons who have already adopted UNiD patient-specific rods.

ORTHOWORLD estimates 4Q18 and 2018 segment sales and growth on an as-reported basis as follows.

  4Q18 4Q17 $ Change % Change
Spine $8.4 $6.3 $2.1 33.8%
Orthobiologics $1.5 $1.1 $0.3 30.7%
Total  $9.9 $7.4 $2.5 33.3%

 

  2018 2017 $ Change % Change
Spine $33.7 $28.3 $5.4 19.0%
Orthobiologics $6.0 $5.1 $0.9 17.7%
Total  $39.7 $33.4 $6.3 18.8%

 

Sources: Medicrea; ORTHOWORLD estimates.

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

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