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Monthly compilations are available in PDF form.

Quarterly Review

2Q13 Revenue: Tornier

$77.8MM, +18% (U.S. $45.5MM, +25%; ex-U.S. $32.2MM, +10%)

  • Total Extremities $65.4MM, +23% (Upper $47.7MM, +11%; Lower $13.9MM, +114%; Sports Med/Biologics $3.8MM, +2%; OrthoHelix $7.9MM)
  • Large Joints/Other $12.3MM, -4%

 

Extremities

  • Excluding OrthoHelix, Lower extremity +7%
  • Upper extremity growth led by shoulder portfolio (Aequalis Reverse, Ascend, Ascend Flex, Perform Glenoid, etc.)
  • Utilization in upper extremity rebounded “quite a bit” from 1Q, and growth in Europe “very, very strong”
  • Commenced full launch of Ascend Flex ahead of 3Q schedule; 70 surgeons trained and completed total shoulder cases
  • Launched 1st OrthoHelix (lower extremity) product ex-U.S.
  • Latitude EV Elbow contributed to elbow revenue growth of 30%
  • Salto and Salto Talaris ankle arthroplasty products gaining market share ex-U.S., but slowing in the U.S. during salesforce transition
  • Acquired largest legacy U.S. distributor; reorganizing territory into smaller direct or distributor territories, with dedicated upper and lower extremity sales alignment
  • Also acquired lower extremities rights from several distributors
  • At end of 2Q, had transition agreements for dedicated upper and dedicated lower extremity sales reps in territories representing 40% of U.S. revenue (goal for 2013 is 60%)
  • Late 2013 product launches include limited user release of patient-specific, image-driven glenoid system and next-generation reverse glenosphere
  • Lower extremity product development now led by OrthoHelix team

 

Sports Med/Biologics

  • Sales supported by significant growth in sutures and BioFiber products, partially offset by declines in anchors
  • In early launch phase for Insite resorbable anchor and Phantom high-strength resorbable suture

 

Large Joints/Other

  • Introduced new minimally invasive hip instrumentation
  • Deployed new Kneetec instrumentation to support cementless knee, will be launched in Europe at end of 3Q
  • Will invest in certain European markets, notably France