Integra LifeSciences 2Q17 Orthopaedic Revenue

ORTHOWORLD estimates Integra LifeSciences’ 2Q17 orthopaedic revenue at US $37.3MM, +34.1% from 2Q16, and 1H17 revenue of $68.5MM, +27.1% vs. 1H16.

Performance highlights:

• Joint Recon Extremities growth driven by Cadence and Salto ankles, Titan Shoulder
• Total ankles generated ~50% organic growth; Titan led double-digit increase in upper extremity recon
• Titan growth supported by expansion of distributor network, adding new surgeons from Integrated Delivery Network contract signed earlier in 2017—including conversions from competition
• In end of 2Q/into 3Q, added non-commissioned associate sales reps to run cases, freeing key reps to target new business
• Still working through updates to broader extremities portfolio (non-joint-recon)
• Acquired TGX Medical, developer of software to track surgical instruments from OR to sterilization to storage, ensuring proper cleaning, assembly and maintenance; while orthopaedic application was not specifically mentioned, it’s reasonable to expect the platform could be used to support ortho procedures

Sources: Integra LifeSciences Corporation; SEC.gov; ORTHOWORLD estimates