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Monthly compilations are available in PDF form.

Quarterly Review

3Q18 and 9 Month 2018 Performance Highlights for Public Companies

Several companies noted increased case volume in the third quarter, likely driven by a strong U.S. economy leading to more widespread insurance coverage and patients able to pay for elective procedures. Sales results were mixed outside of the U.S., particularly in the EMEA region where reimbursement issues continue to be a challenge in the U.K. and Germany. Companies generally performed well, however, in emerging markets.

Revenue Review: 1H18 Growth and 2Q18 Performance Highlights for Public Companies

The 21 companies we track collectively grew +3.6% in 1H18 vs. 1H17—still on pace to reach our estimates of +3.7% in orthopaedic industry growth for 2018 vs. 2017.

Public Orthopaedic Companies: 1Q18 Revenue and Growth Drivers

Alongside their 1Q18 results, numerous players reaffirmed or updated their full-year revenue guidance. Globus Medical increased its numbers based on adoption of ExcelsiusGPS, K2M grew its range by $3MM following a distributor partnership and Orthofix upped guidance by about $9MM in acquisition-related contributions. After the quarter’s close, Wright Medical announced FDA premarket approval for AUGMENT injectable bone graft, and will update its full-year guidance in the 2Q18 call.

Majority of Public Orthopaedic Companies Still on Track for Full-Year Guidance

Following weather events, oft-cited “softness” in U.S. spine procedures (to wit: volume is reportedly low this year) and the enactment of a price ceiling on knee devices in India, some—like ConforMIS, ConMed, DePuy Synthes, Exactech, Integra, K2M and Stryker—noted modest reductions in revenue.

Sales Results for 20 Orthopaedic Companies: A Mid-year Status Report

Now that we’ve collected 1H17 results from 20 publicly-traded companies, I’d like to share some performance-based observations. With just 4 months remaining in the year, these companies provide a helpful gauge in projecting industry growth.

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