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In the exhibits below, we’ve added nine companies to round out our revenue review for 3Q18. As noted in last month’s revenue review, robotics and enabling technology in general continue to be a major theme supporting growth. Globus’ ExcelsiusGPS, Medtronic’s Mazor X and Wright Medical’s BLUEPRINT 3D software all made positive contributions in the quarter. Additionally, two of the companies discussed below have been or are being acquired: K2M’s acquisition by Stryker closed in 4Q18, and Colfax’s acquisition of DJO is expected to close 1Q19.
Click each linked company in Exhibit 1 to revisit their revenue profile.
Exhibit 1: Orthopaedic Sales for Public Companies: 3Q18 vs. 3Q17 ($MM)
| Company | 3Q18 | 3Q17 | $ Change | % Change |
| aap | $3.4 | $3.2 | $0.2 | 7.3% |
| Alphatec Spine | $23.0 | $23.1 | -$0.1 | -0.4% |
| Anika | $24.1 | $24.0 | $0.1 | 0.4% |
| ConforMIS | $29.0 | $18.4 | $10.6 | 57.3% |
| ConMed | $102.9 | $98.6 | $4.3 | 4.4% |
| DePuy Synthes | $2,111.3 | $2,204.0 | -$92.7 | -4.2% |
| DJO | $294.1 | $290.9 | $3.2 | 1.1% |
| Globus Medical | $169.2 | $151.7 | $17.5 | 11.5% |
| Integra | $22.7 | $22.9 | -$0.2 | -0.9% |
| Medicrea | $9.0 | $7.9 | $1.1 | 14.1% |
| Medtronic | $744.0 | $739.0 | $5.0 | 0.7% |
| NuVasive | $271.3 | $247.5 | $23.8 | 9.6% |
| Orthofix | $111.7 | $105.2 | $6.5 | 6.1% |
| OrthoPediatrics | $15.8 | $12.4 | $3.4 | 27.8% |
| Sanofi | $88.7 | $117.0 | -$28.3 | -24.2% |
| SeaSpine | $35.8 | $31.7 | $4.1 | 12.9% |
| Seikagaku | $66.0 | $75.0 | -$9.0 | -12.0% |
| Smith & Nephew | $808.7 | $793.2 | $15.5 | 2.0% |
| Stryker | $1,689.7 | $1,622.4 | $67.3 | 4.2% |
| Vericel | $16.4 | $9.9 | $6.5 | 65.7% |
| Wright Medical | $194.1 | $170.5 | $23.6 | 13.8% |
| Xtant Medical | $17.3 | $19.8 | -$2.5 | -12.7% |
| Zimmer Biomet | $1,637.4 | $1,617.5 | $19.9 | 1.2% |
Exhibit 2: Orthopaedic Sales for Public Companies: 9Mo18 vs. 9Mo17 (to Sep. 30, $MM)
| Company | 9Mo18 | 9Mo17 | $ Change | % Change |
| aap | $10.2 | $9.6 | $0.6 | 5.8% |
| Alphatec Spine | $66.3 | $75.5 | -$9.2 | -12.1% |
| Anika | $69.8 | $68.7 | $1.1 | 1.6% |
| ConforMIS | $67.7 | $57.4 | $10.4 | 18.1% |
| ConMed | $321.9 | $308.0 | $13.9 | 4.5% |
| DePuy Synthes | $6,622.4 | $6,771.9 | -$149.6 | -2.2% |
| DJO | $891.5 | $873.9 | $17.6 | 2.0% |
| Globus Medical | $517.0 | $459.9 | $57.1 | 12.4% |
| Integra LifeSciences | $71.2 | $73.3 | -$2.0 | -2.8% |
| Medicrea | $29.8 | $26.0 | $3.8 | 14.7% |
| Medtronic | $1,483.0 | $1,465.0 | $18.0 | 1.2% |
| NuVasive | $813.5 | $756.0 | $57.5 | 7.6% |
| Orthofix | $332.0 | $316.9 | $15.0 | 4.7% |
| OrthoPediatrics | $43.0 | $33.9 | $9.1 | 26.7% |
| Sanofi | $285.8 | $370.9 | -$85.0 | -22.9% |
| SeaSpine | $105.4 | $97.8 | $7.6 | 7.8% |
| Seikagaku | $197.6 | $215.7 | -$18.1 | -8.4% |
| Smith & Nephew | $2,544.8 | $2,454.1 | $90.7 | 3.7% |
| Stryker | $5,159.7 | $4,853.3 | $306.4 | 6.3% |
| Vericel | $42.6 | $27.8 | $14.8 | 53.2% |
| Wright Medical | $598.0 | $527.4 | $70.1 | 13.4% |
| Xtant Medical | $53.9 | $63.3 | -$9.3 | -14.8% |
| Zimmer Biomet | $5,232.0 | $5,112.9 | $119.2 | 2.3% |
Exhibit 3: 2018 Projected 2018 Orthopaedic Sales ($MM)
| Company | 2018 Proj | 2017 | $ Change | % Change |
| aap | $13.6 | $13.1 | $0.5 | 3.7% |
| Alphatec Spine | $92.5 | $101.5 | -$9.3 | -9.1% |
| Anika | $94.4 | $93.8 | $0.6 | 0.6% |
| ConforMIS | $88.7 | $78.1 | $10.6 | 13.6% |
| ConMed | $446.4 | $429.0 | $17.4 | 4.1% |
| DePuy Synthes | $8,829.5 | $9,017.7 | -$188.2 | -2.1% |
| DJO | $1,206.5 | $1,186.1 | $20.4 | 1.7% |
| Globus Medical | $705.0 | $636.0 | $69.0 | 10.9% |
| Integra | $103.2 | $105.6 | -$2.3 | -2.2% |
| Medicrea | $38.7 | $33.4 | $5.3 | 15.9% |
| Medtronic | $3,017.0 | $2,966.0 | $51.0 | 1.7% |
| NuVasive | $1,105.8 | $1,027.7 | $78.1 | 7.6% |
| Orthofix | $452.5 | $433.8 | $18.7 | 4.3% |
| OrthoPediatrics | $57.2 | $45.6 | $11.6 | 25.4% |
| Sanofi | $379.1 | $476.8 | -$97.7 | -20.5% |
| SeaSpine | $142.0 | $131.8 | $10.2 | 7.7% |
| Seikagaku | $262.9 | $289.9 | -$27.1 | -9.3% |
| Smith & Nephew | $3,449.8 | $3,353.4 | $96.4 | 2.9% |
| Stryker | $7,119.2 | $6,667.6 | $451.6 | 6.8% |
| Vericel | $65.6 | $43.9 | $21.7 | 49.4% |
| Wright Medical | $833.0 | $745.0 | $88.0 | 11.8% |
| Xtant Medical | $70.7 | $82.6 | -$11.8 | -14.3% |
| Zimmer Biomet | $7,088.2 | $6,964.4 | $123.8 | 1.8% |
Sources: Company press releases, websites, the U.S. Securities and Exchange Commission
Mike Evers is ORTHOWORLD’s Market Analyst. Reach him via email.
In the exhibits below, we've added nine companies to round out our revenue review for 3Q18. As noted in last month's revenue review, robotics and enabling technology in general continue to be a major theme supporting growth. Globus’ ExcelsiusGPS, Medtronic’s Mazor X and Wright Medical’s BLUEPRINT 3D software all made positive contributions in the...
In the exhibits below, we’ve added nine companies to round out our revenue review for 3Q18. As noted in last month’s revenue review, robotics and enabling technology in general continue to be a major theme supporting growth. Globus’ ExcelsiusGPS, Medtronic’s Mazor X and Wright Medical’s BLUEPRINT 3D software all made positive contributions in the quarter. Additionally, two of the companies discussed below have been or are being acquired: K2M’s acquisition by Stryker closed in 4Q18, and Colfax’s acquisition of DJO is expected to close 1Q19.
Click each linked company in Exhibit 1 to revisit their revenue profile.
Exhibit 1: Orthopaedic Sales for Public Companies: 3Q18 vs. 3Q17 ($MM)
| Company | 3Q18 | 3Q17 | $ Change | % Change |
| aap | $3.4 | $3.2 | $0.2 | 7.3% |
| Alphatec Spine | $23.0 | $23.1 | -$0.1 | -0.4% |
| Anika | $24.1 | $24.0 | $0.1 | 0.4% |
| ConforMIS | $29.0 | $18.4 | $10.6 | 57.3% |
| ConMed | $102.9 | $98.6 | $4.3 | 4.4% |
| DePuy Synthes | $2,111.3 | $2,204.0 | -$92.7 | -4.2% |
| DJO | $294.1 | $290.9 | $3.2 | 1.1% |
| Globus Medical | $169.2 | $151.7 | $17.5 | 11.5% |
| Integra | $22.7 | $22.9 | -$0.2 | -0.9% |
| Medicrea | $9.0 | $7.9 | $1.1 | 14.1% |
| Medtronic | $744.0 | $739.0 | $5.0 | 0.7% |
| NuVasive | $271.3 | $247.5 | $23.8 | 9.6% |
| Orthofix | $111.7 | $105.2 | $6.5 | 6.1% |
| OrthoPediatrics | $15.8 | $12.4 | $3.4 | 27.8% |
| Sanofi | $88.7 | $117.0 | -$28.3 | -24.2% |
| SeaSpine | $35.8 | $31.7 | $4.1 | 12.9% |
| Seikagaku | $66.0 | $75.0 | -$9.0 | -12.0% |
| Smith & Nephew | $808.7 | $793.2 | $15.5 | 2.0% |
| Stryker | $1,689.7 | $1,622.4 | $67.3 | 4.2% |
| Vericel | $16.4 | $9.9 | $6.5 | 65.7% |
| Wright Medical | $194.1 | $170.5 | $23.6 | 13.8% |
| Xtant Medical | $17.3 | $19.8 | -$2.5 | -12.7% |
| Zimmer Biomet | $1,637.4 | $1,617.5 | $19.9 | 1.2% |
Exhibit 2: Orthopaedic Sales for Public Companies: 9Mo18 vs. 9Mo17 (to Sep. 30, $MM)
| Company | 9Mo18 | 9Mo17 | $ Change | % Change |
| aap | $10.2 | $9.6 | $0.6 | 5.8% |
| Alphatec Spine | $66.3 | $75.5 | -$9.2 | -12.1% |
| Anika | $69.8 | $68.7 | $1.1 | 1.6% |
| ConforMIS | $67.7 | $57.4 | $10.4 | 18.1% |
| ConMed | $321.9 | $308.0 | $13.9 | 4.5% |
| DePuy Synthes | $6,622.4 | $6,771.9 | -$149.6 | -2.2% |
| DJO | $891.5 | $873.9 | $17.6 | 2.0% |
| Globus Medical | $517.0 | $459.9 | $57.1 | 12.4% |
| Integra LifeSciences | $71.2 | $73.3 | -$2.0 | -2.8% |
| Medicrea | $29.8 | $26.0 | $3.8 | 14.7% |
| Medtronic | $1,483.0 | $1,465.0 | $18.0 | 1.2% |
| NuVasive | $813.5 | $756.0 | $57.5 | 7.6% |
| Orthofix | $332.0 | $316.9 | $15.0 | 4.7% |
| OrthoPediatrics | $43.0 | $33.9 | $9.1 | 26.7% |
| Sanofi | $285.8 | $370.9 | -$85.0 | -22.9% |
| SeaSpine | $105.4 | $97.8 | $7.6 | 7.8% |
| Seikagaku | $197.6 | $215.7 | -$18.1 | -8.4% |
| Smith & Nephew | $2,544.8 | $2,454.1 | $90.7 | 3.7% |
| Stryker | $5,159.7 | $4,853.3 | $306.4 | 6.3% |
| Vericel | $42.6 | $27.8 | $14.8 | 53.2% |
| Wright Medical | $598.0 | $527.4 | $70.1 | 13.4% |
| Xtant Medical | $53.9 | $63.3 | -$9.3 | -14.8% |
| Zimmer Biomet | $5,232.0 | $5,112.9 | $119.2 | 2.3% |
Exhibit 3: 2018 Projected 2018 Orthopaedic Sales ($MM)
| Company | 2018 Proj | 2017 | $ Change | % Change |
| aap | $13.6 | $13.1 | $0.5 | 3.7% |
| Alphatec Spine | $92.5 | $101.5 | -$9.3 | -9.1% |
| Anika | $94.4 | $93.8 | $0.6 | 0.6% |
| ConforMIS | $88.7 | $78.1 | $10.6 | 13.6% |
| ConMed | $446.4 | $429.0 | $17.4 | 4.1% |
| DePuy Synthes | $8,829.5 | $9,017.7 | -$188.2 | -2.1% |
| DJO | $1,206.5 | $1,186.1 | $20.4 | 1.7% |
| Globus Medical | $705.0 | $636.0 | $69.0 | 10.9% |
| Integra | $103.2 | $105.6 | -$2.3 | -2.2% |
| Medicrea | $38.7 | $33.4 | $5.3 | 15.9% |
| Medtronic | $3,017.0 | $2,966.0 | $51.0 | 1.7% |
| NuVasive | $1,105.8 | $1,027.7 | $78.1 | 7.6% |
| Orthofix | $452.5 | $433.8 | $18.7 | 4.3% |
| OrthoPediatrics | $57.2 | $45.6 | $11.6 | 25.4% |
| Sanofi | $379.1 | $476.8 | -$97.7 | -20.5% |
| SeaSpine | $142.0 | $131.8 | $10.2 | 7.7% |
| Seikagaku | $262.9 | $289.9 | -$27.1 | -9.3% |
| Smith & Nephew | $3,449.8 | $3,353.4 | $96.4 | 2.9% |
| Stryker | $7,119.2 | $6,667.6 | $451.6 | 6.8% |
| Vericel | $65.6 | $43.9 | $21.7 | 49.4% |
| Wright Medical | $833.0 | $745.0 | $88.0 | 11.8% |
| Xtant Medical | $70.7 | $82.6 | -$11.8 | -14.3% |
| Zimmer Biomet | $7,088.2 | $6,964.4 | $123.8 | 1.8% |
Sources: Company press releases, websites, the U.S. Securities and Exchange Commission
Mike Evers is ORTHOWORLD’s Market Analyst. Reach him via email.
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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.
