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Medartis reported 2H20 orthopedic revenue of USD $76.4 million, +3% vs. 2H19 with full-year 2020 revenue of $140.8 million, -4.2% vs. 2019. The company rebounded in the second half of the year, driven by strong performances from Australia and the United States. In Europe, Medartis saw the best results in Switzerland, Germany and Austria, but has yet to see recovery in the U.K.
The U.S. is a top priority for the company. Medartis strengthened the leadership team in 2020, thereby appointing Lisa Thompson as its President of North America. The company reorganized its U.S. sales territories to leverage a new growth-oriented incentive system.
In addition to geographic expansion in the U.S. and elsewhere, Medartis’ strategic goal is becoming a comprehensive solutions provider. As it further builds its portfolio of plates and screws, Medartis is selectively entering the small joint replacement and soft tissue markets. Its acquisition of a minority stake in KeriMedical, a hand and wrist specialist, helps solidify Medartis’ small joint offerings. With the launch of the CMX platform, the company can now offer digital surgical planning as well as patient-specific implants and instruments.
For 2021, Medartis expects revenue growth of at least +15% excluding the impact of currency exchange.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| Segment | 2H20 | 2H19 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $66.0 | $63.3 | $2.7 | 4.3% |
| Other (CMF) | $10.4 | $10.8 | ($0.5) | (4.2%) |
| Total | $76.4 | $74.1 | $2.3 | 3% |
| Segment | FY20 | FY19 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $122.0 | $125.3 | ($3.3) | (2.6%) |
| Other (CMF) | $18.8 | $21.7 | ($2.9) | (13.5%) |
| Total | $140.8 | $147.0 | ($6.2) | (4.2%) |
Geographic Sales
| Region | 2H20 | 2H19 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $13.6 | $12.4 | $1.1 | 9.1% |
| OUS | $62.8 | $61.7 | $1.1 | 1.8% |
| EMEA | $40.9 | $40.2 | $0.7 | 1.7% |
| APAC | $16.5 | $13.8 | $2.7 | 19.7% |
| ROW | $5.4 | $7.7 | ($2.3) | (29.4%) |
| Total | $76.4 | $74.1 | $2.3 | 3% |
| Region | FY20 | FY19 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $24.1 | $24.5 | ($0.5) | (1.8%) |
| OUS | $116.7 | $122.5 | ($5.8) | (4.7%) |
| EMEA | $77.1 | $79.4 | ($2.4) | (3%) |
| APAC | $28.7 | $26.8 | $1.9 | 7.2% |
| ROW | $11.0 | $16.3 | ($5.3) | (32.6%) |
| Total | $140.8 | $147.0 | ($6.2) | (4.2%) |
Earnings
| FY20 | % of Sales | |
|---|---|---|
| Total Sales | $140.8 | |
| Cost of Sales | $23.9 | 17% |
| Selling | $69.9 | 49.6% |
| Admin | $24.6 | 17.5% |
| R&D | $18.3 | 13% |
| Other | $5.2 | 3.7% |
| Earnings | ($1.1) | (0.8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Medartis reported 2H20 orthopedic revenue of USD $76.4 million, +3% vs. 2H19 with full-year 2020 revenue of $140.8 million, -4.2% vs. 2019. The company rebounded in the second half of the year, driven by strong performances from Australia and the United States. In Europe, Medartis saw the best results in Switzerland, Germany and Austria, but...
Medartis reported 2H20 orthopedic revenue of USD $76.4 million, +3% vs. 2H19 with full-year 2020 revenue of $140.8 million, -4.2% vs. 2019. The company rebounded in the second half of the year, driven by strong performances from Australia and the United States. In Europe, Medartis saw the best results in Switzerland, Germany and Austria, but has yet to see recovery in the U.K.
The U.S. is a top priority for the company. Medartis strengthened the leadership team in 2020, thereby appointing Lisa Thompson as its President of North America. The company reorganized its U.S. sales territories to leverage a new growth-oriented incentive system.
In addition to geographic expansion in the U.S. and elsewhere, Medartis’ strategic goal is becoming a comprehensive solutions provider. As it further builds its portfolio of plates and screws, Medartis is selectively entering the small joint replacement and soft tissue markets. Its acquisition of a minority stake in KeriMedical, a hand and wrist specialist, helps solidify Medartis’ small joint offerings. With the launch of the CMX platform, the company can now offer digital surgical planning as well as patient-specific implants and instruments.
For 2021, Medartis expects revenue growth of at least +15% excluding the impact of currency exchange.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| Segment | 2H20 | 2H19 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $66.0 | $63.3 | $2.7 | 4.3% |
| Other (CMF) | $10.4 | $10.8 | ($0.5) | (4.2%) |
| Total | $76.4 | $74.1 | $2.3 | 3% |
| Segment | FY20 | FY19 | $ Chg | % Chg |
|---|---|---|---|---|
| Trauma | $122.0 | $125.3 | ($3.3) | (2.6%) |
| Other (CMF) | $18.8 | $21.7 | ($2.9) | (13.5%) |
| Total | $140.8 | $147.0 | ($6.2) | (4.2%) |
Geographic Sales
| Region | 2H20 | 2H19 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $13.6 | $12.4 | $1.1 | 9.1% |
| OUS | $62.8 | $61.7 | $1.1 | 1.8% |
| EMEA | $40.9 | $40.2 | $0.7 | 1.7% |
| APAC | $16.5 | $13.8 | $2.7 | 19.7% |
| ROW | $5.4 | $7.7 | ($2.3) | (29.4%) |
| Total | $76.4 | $74.1 | $2.3 | 3% |
| Region | FY20 | FY19 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $24.1 | $24.5 | ($0.5) | (1.8%) |
| OUS | $116.7 | $122.5 | ($5.8) | (4.7%) |
| EMEA | $77.1 | $79.4 | ($2.4) | (3%) |
| APAC | $28.7 | $26.8 | $1.9 | 7.2% |
| ROW | $11.0 | $16.3 | ($5.3) | (32.6%) |
| Total | $140.8 | $147.0 | ($6.2) | (4.2%) |
Earnings
| FY20 | % of Sales | |
|---|---|---|
| Total Sales | $140.8 | |
| Cost of Sales | $23.9 | 17% |
| Selling | $69.9 | 49.6% |
| Admin | $24.6 | 17.5% |
| R&D | $18.3 | 13% |
| Other | $5.2 | 3.7% |
| Earnings | ($1.1) | (0.8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
