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MicroPort Orthopedics reported 1H21 revenue of $110.1 million, +27.2% vs. 1H20. Compared to the same period in 2019, the company’s sales declined -2.9%. MicroPort’s results are further evidence that the knee and hip replacement markets are lagging behind the recovery curve compared to other segments. Compared to 1H19, the company’s knee sales declined -12.1% while its hip sales declined -2%.
MicroPort gained traction with joint replacement products in its domestic market of China amid the implementation of the country’s volume-based procurement policy. Compared to 1H20, the company increased its presence from 400 hospitals to 950 as well as significantly increased its number of distributors. Despite the inevitable price decline for implants in China, MicroPort is expanding its production capacity in anticipation of greater sales volumes.
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
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $94.7 | $73.6 | $21.1 | 28.7% |
| Knees | $36.9 | $30.3 | $6.6 | 21.7% |
| Hips | $57.8 | $43.3 | $14.5 | 33.5% |
| Spine | $5.5 | $4.3 | $1.2 | 27.2% |
| Trauma | $9.9 | $8.7 | $1.3 | 14.4% |
| Total | $110.1 | $86.6 | $23.5 | 27.2% |
Geographic Sales
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $42.3 | $36.4 | $5.9 | 16.1% |
| OUS | $67.8 | $50.2 | $17.6 | 35.2% |
| EMEA | $24.7 | $15.9 | $8.8 | 55.4% |
| APAC | $34.6 | $26.7 | $8.0 | 29.9% |
| ROW | $8.5 | $7.6 | $0.9 | 11.5% |
| Total | $110.1 | $86.6 | $23.5 | 27.2% |
Earnings
| Amt | % Sales | |
|---|---|---|
| Sales | $384.6 | |
| Cost of Sales | $137.0 | 35.6% |
| Administration | $103.0 | 26.8% |
| R&D | $117.1 | 30.4% |
| Other | $142.2 | 37% |
| Net Earnings | ($114.7) | (29.8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
MicroPort Orthopedics reported 1H21 revenue of $110.1 million, +27.2% vs. 1H20. Compared to the same period in 2019, the company's sales declined -2.9%. MicroPort's results are further evidence that the knee and hip replacement markets are lagging behind the recovery curve compared to other segments. Compared to 1H19, the company's knee sales...
MicroPort Orthopedics reported 1H21 revenue of $110.1 million, +27.2% vs. 1H20. Compared to the same period in 2019, the company’s sales declined -2.9%. MicroPort’s results are further evidence that the knee and hip replacement markets are lagging behind the recovery curve compared to other segments. Compared to 1H19, the company’s knee sales declined -12.1% while its hip sales declined -2%.
MicroPort gained traction with joint replacement products in its domestic market of China amid the implementation of the country’s volume-based procurement policy. Compared to 1H20, the company increased its presence from 400 hospitals to 950 as well as significantly increased its number of distributors. Despite the inevitable price decline for implants in China, MicroPort is expanding its production capacity in anticipation of greater sales volumes.
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
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement | $94.7 | $73.6 | $21.1 | 28.7% |
| Knees | $36.9 | $30.3 | $6.6 | 21.7% |
| Hips | $57.8 | $43.3 | $14.5 | 33.5% |
| Spine | $5.5 | $4.3 | $1.2 | 27.2% |
| Trauma | $9.9 | $8.7 | $1.3 | 14.4% |
| Total | $110.1 | $86.6 | $23.5 | 27.2% |
Geographic Sales
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $42.3 | $36.4 | $5.9 | 16.1% |
| OUS | $67.8 | $50.2 | $17.6 | 35.2% |
| EMEA | $24.7 | $15.9 | $8.8 | 55.4% |
| APAC | $34.6 | $26.7 | $8.0 | 29.9% |
| ROW | $8.5 | $7.6 | $0.9 | 11.5% |
| Total | $110.1 | $86.6 | $23.5 | 27.2% |
Earnings
| Amt | % Sales | |
|---|---|---|
| Sales | $384.6 | |
| Cost of Sales | $137.0 | 35.6% |
| Administration | $103.0 | 26.8% |
| R&D | $117.1 | 30.4% |
| Other | $142.2 | 37% |
| Net Earnings | ($114.7) | (29.8%) |
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.
