Vericel reported 4Q20 orthopedic revenue of USD $34.7 million, +3.2% vs. 4Q19 with full-year 2020 revenue of $94.4 million, +3.1% vs. 2019. Both totals represent record revenue performance for the company.
Vericel expects 2021 MACI growth in the low- to mid-30% range. The guidance assumes the company can grow its base of surgeons taking biopsies by more than 20%. In 2020, that surgeon base grew from 1,400 to 1,500 (+7.1%), despite disruption from the pandemic. UnitedHealthcare, the largest commercial payor in the U.S., expanded its coverage to cover MACI for patients with full thickness cartilage defects in the patella. Vericel estimates that the coverage equates to a $60 million to $70 million market opportunity.
“We also expect to benefit from UnitedHealthcare’s decision to expand coverage of MACI to include patients with full thickness cartilage defects in the patella, and multiple defects in the knee. UnitedHealthcare is the largest commercial payer in the United States, covering more than 26 million lives. And more patients treated with MACI are covered by UnitedHealthcare, than any other plan in the United States. Over 85% of covered commercial lives in the US have access to MACI.” – Vericel CEO Nick Colangelo
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
4Q20
4Q19
$ Chg
% Chg
Orthobiologics
$34.7
$33.6
$1.1
3.2%
FY20
FY19
$ Chg
% Chg
Orthobiologics
$94.4
$91.6
$2.8
3.1%
Earnings
Amt
% of Sales
Sales
$45.2
Cost of Sales
$11.6
25.6%
General and Admin
$18.2
40.3%
R & D
$0.0
0%
Other
$0.1
0.2%
Net Earnings
$12.2
27%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Vericel reported 4Q20 orthopedic revenue of USD $34.7 million, +3.2% vs. 4Q19 with full-year 2020 revenue of $94.4 million, +3.1% vs. 2019. Both totals represent record revenue performance for the company.
Vericel expects 2021 MACI growth in the low- to mid-30% range. The guidance assumes the company can grow its base of surgeons taking...
Vericel reported 4Q20 orthopedic revenue of USD $34.7 million, +3.2% vs. 4Q19 with full-year 2020 revenue of $94.4 million, +3.1% vs. 2019. Both totals represent record revenue performance for the company.
Vericel expects 2021 MACI growth in the low- to mid-30% range. The guidance assumes the company can grow its base of surgeons taking biopsies by more than 20%. In 2020, that surgeon base grew from 1,400 to 1,500 (+7.1%), despite disruption from the pandemic. UnitedHealthcare, the largest commercial payor in the U.S., expanded its coverage to cover MACI for patients with full thickness cartilage defects in the patella. Vericel estimates that the coverage equates to a $60 million to $70 million market opportunity.
“We also expect to benefit from UnitedHealthcare’s decision to expand coverage of MACI to include patients with full thickness cartilage defects in the patella, and multiple defects in the knee. UnitedHealthcare is the largest commercial payer in the United States, covering more than 26 million lives. And more patients treated with MACI are covered by UnitedHealthcare, than any other plan in the United States. Over 85% of covered commercial lives in the US have access to MACI.” – Vericel CEO Nick Colangelo
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
4Q20
4Q19
$ Chg
% Chg
Orthobiologics
$34.7
$33.6
$1.1
3.2%
FY20
FY19
$ Chg
% Chg
Orthobiologics
$94.4
$91.6
$2.8
3.1%
Earnings
Amt
% of Sales
Sales
$45.2
Cost of Sales
$11.6
25.6%
General and Admin
$18.2
40.3%
R & D
$0.0
0%
Other
$0.1
0.2%
Net Earnings
$12.2
27%
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by 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.
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