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Safe Orthopaedics Reports 3Q19 Revenue of EUR 1.2MM, +40.8% vs. 3Q18 -

Performance highlights for the quarter:

  • Adoption of the SteriSpine PS pedicle screw and SteriSpine VA vertebral augmentation balloon contributed to growth, as did continued training of newly recruited sales representatives
  • Direct sales in France, Germany and the U.K. decreased by -7% in the quarter, while indirect sales via distributors increased 124%
  • In late September 2019, the company announced recruitment of a new VP of Strategy and Marketing as well as a Director of Sales for the French and U.K. markets to reinvigorate the direct salesforce

 

ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM).

  3Q19 3Q18 $ Chg % Chg
Spine $1.3 $0.9 $0.4 40.8%
  9mo 19 9Mo 18 $ Chg % Chg
Spine $3.6 $2.8 $0.8 29.6%

 

Sources: Safe Orthopaedics; ORTHOWORLD estimates.

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

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