- Leadership is pleased with the above market growth but noted that performance was below expectations, particularly for distributors; as a result, the company walked back its previous 2019 outlook and now expects to grow in the 8% to 10% range
- Hand and wrist products continued their solid performance, but lower extremity products did not perform to expectations
- Distributors in Europe held back from investing in sets due to uncertainty around the EU’s Medical Device Regulation
- Medartis is investing in sterile disposable packaging in anticipation of increased demand in Europe
- Australian sales were impacted by a 7% nation-wide reduction in reimbursement, while seasonal slowdowns affected sales in Japan
Performance by Segment
ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM):
| 1H19 | 1H18 | $ Chg | % Chg |
| Trauma | $59.0 | $55.8 | $3.2 | 5.7% |
| Other (CMF) | $5.8 | $5.5 | $0.3 | 6.3% |
| Total | $64.8 | $61.3 | $3.5 | 5.7% |
Sales by Geographic Region
ORTHOWORLD estimates geographic sales and growth as follows ($MM):
| 1H19 | 1H18 | $ Chg | % Chg |
| US | $10.8 | $9.3 | $1.4 | 15.1% |
| Ex-US | $54.1 | $51.9 | $2.1 | 4.1% |
| EMEA | $34.9 | $34.2 | $0.7 | 2.1% |
| Asia Pacific | $11.6 | $11.3 | $0.3 | 2.7% |
| Rest of World | $7.6 | $6.5 | $1.1 | 16.9% |
| Total | $64.8 | $61.3 | $3.5 | 5.7% |
Sources: Medartis; ORTHOWORLD estimates.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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