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Product / Company Performance

Wright Medical Announces 1Q18 Revenue -

Wright Medical (WMGI) reported 1Q18 revenue of US $198.5MM, +12.0% from 1Q17.

ORTHOWORLD estimates for segment sales and growth follow.

  1Q18  1Q17  $ Change  % Change 
 Joint Reconstruction Extremities $98.3  $81.1  $17.1  21.1% 
 Trauma $71.1  $66.4  $4.8  7.2% 
 Arthroscopy/Soft Tissue $5.7  $5.9  -$0.2  -3.2% 
 Orthobiologics $23.4  $23.8  -$0.4  -1.6% 
 Total  $198.5  $177.2  $21.3  12.0% 

 

Growth here was supported by a 23.5% increase in U.S. shoulder sales, year over year. WMGI expects that SIMPLICITI and the ongoing PERFORM Reversed launch, plus adoption of BLUEPRINT enabling technology, will continue to drive what is expected to be outstanding shoulder growth for the year.

In fact, WMGI has had trouble keeping up supply of PERFORM and kits available to perform the surgery due to strong demand.

Lower extremities revenue is picking up again, with 14% growth in total ankles and a return to growth in core lower extremities. Strong progress was noted for the ORTHOLOC ankle fracture and small bone fracture product launches, as well as increased benefit from the salesforce expansion. Leadership did note slight carryover of the supply issue related to a third-party coating vendor that impacted total ankle production, but that was confined to early in the quarter.

Leadership also emphasized the importance of the 3Q18 launch of PROstep MIS for bunion treatment—the biggest product launch for the company in the past several years. It’s expected to have a lot of use in ASCs.

Finally, on competition in stemless shoulders, leadership notes that the salesforce hasn’t seen any impact from Zimmer Biomet or Exactech, at this time. Also, WMGI competed successfully against Zimmer Biomet’s Sidus in Europe. The availability of BLUEPRINT is expected to work in their favor.

Sources: Wright Medical; ORTHOWORLD estimates

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