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Wright Medical (WMGI) reported 3Q17 revenue of US $170.5MM, +8.4% from 3Q16, and YTD revenue of $527.4MM, +6.0% vs. the prior year. U.S. shoulder revenue growth of +19% YoY supported WMGI’s return to double-digit growth in Extremities Joint Recon, which it last saw in 4Q16.
ORTHOWORLD estimates for segment sales and growth follow.
| 3Q17 | 3Q16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $76.2 | $68.5 | $7.7 | 11.2% |
| Trauma | $65.2 | $60.8 | $4.4 | 7.2% |
| Arthroscopy/Soft Tissue | $5.3 | $5.0 | $0.3 | 5.6% |
| Orthobiologics | $23.8 | $23.0 | $0.8 | 3.7% |
| Total | $170.5 | $157.3 | $13.2 | 8.4% |
| 9Mo17 | 9Mo16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $239.6 | $221.8 | $17.8 | 8.0% |
| Trauma | $198.9 | $191.4 | $7.5 | 3.9% |
| Arthroscopy/Soft Tissue | $16.9 | $17.2 | -$0.3 | -1.7% |
| Orthobiologics | $72.0 | $67.0 | $5.1 | 7.6% |
| Total | $527.4 | $497.3 | $30.0 | 6.0% |
That shoulder revenue growth supported WMGI’s return to double-digit growth in Extremities Joint Recon, which it last saw in 4Q16. Products contributing to that increase included the AEQUALIS PERFORM Reversed glenoid and SIMPLICITI shoulder, as well as growing adoption of BLUEPRINT surgical planning. Demand for PERFORM Reversed was noted as exceeding its supply of instrument sets, so more of those will launch in 4Q.
“PROPHECY pre-operative planning has been critical to our success in total ankle, evidenced by over 80% of INFINITY cases using PROPHECY. We believe BLUEPRINT will be just as important to our shoulder business over the next several years.”—Bob Palmisano, President & CEO
However, full-year guidance was restated for WMGI due to the negative impact of hurricanes (~$3MM for the quarter, mostly affecting U.S. lower extremities) and a slower-than-expected development of benefit from salesforce changes in U.S. lower extremities.
While AUGMENT bone graft, SALVATION limb salvage and INFINITY total ankles performed well, core lower extremity plates/screws and biologics did not. It has taken longer for new reps hired from outside of orthopaedics to ramp up and contribute, leadership noted. Growth issues should be offset by the recently-launched ORTHOLOC 3Di Ankle Fracture system, which gets additional instrument sets in the field in 4Q and early 2018, as well as the improved total ankle reimbursement effective in early 4Q and upcoming product launches.
Thus, due to weather impacts and U.S. lower extremities, full-year guidance is revised to $740MM to $745MM, down $15MM to $20MM from the previous range of $755MM to $765MM.
Source: Wright Medical Group N.V.; ORTHOWORLD Inc. estimates
Wright Medical (WMGI) reported 3Q17 revenue of US $170.5MM, +8.4% from 3Q16, and YTD revenue of $527.4MM, +6.0% vs. the prior year. U.S. shoulder revenue growth of +19% YoY supported WMGI’s return to double-digit growth in Extremities Joint Recon, which it last saw in 4Q16.
ORTHOWORLD estimates for segment sales and growth follow.
...
Wright Medical (WMGI) reported 3Q17 revenue of US $170.5MM, +8.4% from 3Q16, and YTD revenue of $527.4MM, +6.0% vs. the prior year. U.S. shoulder revenue growth of +19% YoY supported WMGI’s return to double-digit growth in Extremities Joint Recon, which it last saw in 4Q16.
ORTHOWORLD estimates for segment sales and growth follow.
| 3Q17 | 3Q16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $76.2 | $68.5 | $7.7 | 11.2% |
| Trauma | $65.2 | $60.8 | $4.4 | 7.2% |
| Arthroscopy/Soft Tissue | $5.3 | $5.0 | $0.3 | 5.6% |
| Orthobiologics | $23.8 | $23.0 | $0.8 | 3.7% |
| Total | $170.5 | $157.3 | $13.2 | 8.4% |
| 9Mo17 | 9Mo16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $239.6 | $221.8 | $17.8 | 8.0% |
| Trauma | $198.9 | $191.4 | $7.5 | 3.9% |
| Arthroscopy/Soft Tissue | $16.9 | $17.2 | -$0.3 | -1.7% |
| Orthobiologics | $72.0 | $67.0 | $5.1 | 7.6% |
| Total | $527.4 | $497.3 | $30.0 | 6.0% |
That shoulder revenue growth supported WMGI’s return to double-digit growth in Extremities Joint Recon, which it last saw in 4Q16. Products contributing to that increase included the AEQUALIS PERFORM Reversed glenoid and SIMPLICITI shoulder, as well as growing adoption of BLUEPRINT surgical planning. Demand for PERFORM Reversed was noted as exceeding its supply of instrument sets, so more of those will launch in 4Q.
“PROPHECY pre-operative planning has been critical to our success in total ankle, evidenced by over 80% of INFINITY cases using PROPHECY. We believe BLUEPRINT will be just as important to our shoulder business over the next several years.”—Bob Palmisano, President & CEO
However, full-year guidance was restated for WMGI due to the negative impact of hurricanes (~$3MM for the quarter, mostly affecting U.S. lower extremities) and a slower-than-expected development of benefit from salesforce changes in U.S. lower extremities.
While AUGMENT bone graft, SALVATION limb salvage and INFINITY total ankles performed well, core lower extremity plates/screws and biologics did not. It has taken longer for new reps hired from outside of orthopaedics to ramp up and contribute, leadership noted. Growth issues should be offset by the recently-launched ORTHOLOC 3Di Ankle Fracture system, which gets additional instrument sets in the field in 4Q and early 2018, as well as the improved total ankle reimbursement effective in early 4Q and upcoming product launches.
Thus, due to weather impacts and U.S. lower extremities, full-year guidance is revised to $740MM to $745MM, down $15MM to $20MM from the previous range of $755MM to $765MM.
Source: Wright Medical Group N.V.; ORTHOWORLD Inc. estimates
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
