Medartis Grows Above Market in 1H19 on US Sales

• 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):

Sales by Geographic Region

ORTHOWORLD estimates geographic sales and growth as follows ($MM):

Sources: Medartis; ORTHOWORLD estimates.

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.