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Product / Company Performance

Safe Orthopaedics Reports 4Q18 Revenue of €1MM, +26.7% vs. 4Q17 -

By Mike Evers, ORTHOWORLD

Safe Orthopaedics is a French company specializing in the minimally invasive treatment of spinal fractures using implants and single-use instrument kits. The company posted 4Q18 revenue of €1MM (USD $1.2MM), +26.7% vs. 4Q17, and full-year 2018 revenue of €3.5MM (USD $4.3MM), +11.6% vs. 2017.

For the fourth quarter, sales in France were above the half a million euro mark for the first time and accounted for 9% of the French spinal fracture stabilization market, according to the company.

Full-year revenue growth for 2018 was powered primarily by a 27% year-over-year sales increase from the direct salesforce in France, Germany and the U.K. This performance comes on the heels of the 2017 restructuring of the distributor network.

Germany and the U.K., two markets where larger companies fought headwinds in 2018, contributed positively to Safe Orthopaedics. German full-year sales doubled to €84,000 ($103,496), and the company replaced the head of sales in that market in October 2018 to influence opinion leaders there. The June 1 acquisition of a U.K. salesforce contributed €180,000 ($221,778) for the year.

Global indirect sales were mixed in 2018. Sales in Europe, excluding the U.K., were 17% higher, while Latin America was flat, and the rest of the world contracted 17% due to strategic refocusing on European markets. However, one outlier to this European refocusing is Japan, where the company announced a strategic partnership in June 2018.

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

  4Q18 4Q17 $ Change % Change
Spine $1.2 $1.0 $0.3 26.7%

 

  2018 2017 $ Change % Change
Spine $4.3 $3.8 $0.4 11.6%

 

Source: Safe Orthopaedics

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

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