Swiss surgical fixation company Medartis posted 2018 revenue of CHF 121.3MM (USD $121.9MM), +15.5% vs. 2017. After completing its 2018 IPO, the company went on to drive double-digit growth nearly across the board for its product lines and geographies. Medartis expects double-digit sales growth once again in 2019 based on new products and continued strong sales in EMEA.
The company’s largest business, upper extremity fixation, grew 13% on the strength of hand, wrist and elbow products. Lower extremity fixation, Medartis’ newest segment, grew 28% for the year. Sales of their craniomaxillofacial products as well as instruments, classified as Other below, grew 16%. The company launched proximal humerus plates for the treatment of shoulder fractures in late 2018 and plans to launch a new generation of CMF products in 2020.
Medartis’ investments in U.S. management and sales force showed benefits, with nearly 11% growth in North America. The company’s largest region, EMEA, grew 15% while Australia and Japan drove Asia Pacific to 9.9% growth. Rest of World grew 10% organically, with the remainder coming from Medartis’ 2017 acquisition of Brazilian distributor Extera.
ORTHOWORLD estimates segment sales and growth on an as-reported basis as follows.
| FY18 | FY17 | $ Change | % Change |
| Trauma | $110.9 | $96.1 | $14.8 | 15.4% |
| Other (CMF) | $11.0 | $9.5 | $1.5 | 16.1% |
| Total | $121.9 | $105.5 | $16.4 | 15.5% |
Sales by geographic region:
| Geographic Region | FY18 | FY17 | $ Change | % Change |
| US | $19.4 | $17.5 | $1.9 | 10.9% |
| Ex-US | $102.5 | $88.1 | $14.5 | 16.4% |
| EMEA | $66.7 | $58.0 | $8.6 | 14.9% |
| Asia Pacific | $22.9 | $20.8 | $2.1 | 9.9% |
| Rest of World | $12.9 | $9.2 | $3.8 | 40.8% |
| Total | $121.9 | $105.5 | $16.4 | 15.5% |
Sources: Medartis; ORTHOWORLD estimates.
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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