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Monthly compilations are available in PDF form.

Quarterly Review

3Q13 Revenue: Tornier

$66.7MM, +13% (U.S. $40.6MM, +18%; ex-U.S. $26.0MM, +6%)

  • Total Extremities $56.9MM, +16% (ex-U.S. +9%)
  • Upper $40.3MM, +2% (Elbows +40%)
  • Lower $13.5MM, +133% (pro forma +8%)
  • Sports Med/Biologics $3.1MM, -12%
  • Large Joints/Other $9.8MM, -1%

 

  • Established distribution channel with dedicated, separate upper- and lower-extremity focused sales reps, transition will complete by year-end
  • Agreements associated with new distribution structure accounted for ~61% of U.S. revenue
  • Expanded direct sales representation; now accounts for ~1/3 of U.S. sales and expected to increase to 50% by year-end
  • ~25% complete in training U.S. sales organization
  • Upper extremity ex-U.S. growth in double digits
  • Extremities led by shoulder portfolio, including contribution from launch of Aequalis Ascend Flex
  • >120 surgeons trained on Ascend Flex, over goal of 100
  • Balancing cannibalization of existing business due to value of Flex
  • Marked 1st clinical use of Aequalis PyC pyrolytic carbon humeral head
  • Patient-specific image-driven glenoid system launching to limited users in early 2014
  • Commenced limited user release of Salto Talaris XT revision ankle
  • OrthoHelix CannuLink hammertoe correction, MaxLock and Mini MaxLock plate/screw supported growth
  • Launched OrthoHelix products in France and Germany
  • Sports Med decrease driven by decline in anchor sales, offset by sutures and BioFiber
  • Commenced launch of Insite bio-anchor and Phantom high-strength resorbable suture
  • DynaCup and minimally invasive instrumentation led hip sales
  • Knee sales down, but with growth in KneeTec and instrumentation, new cementless product