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Wright Medical reported 1Q17 revenue of US $177.2MM, +4.7% from 1Q16.
ORTHOWORLD estimates 1Q17 segment sales and growth on an as-reported basis, as follows.
| 1Q17 | 1Q16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $81.1 | $76.6 | $4.5 | 5.9% |
| Trauma | $66.4 | $65.2 | $1.1 | 1.7% |
| Arthroscopy/Soft Tissue | $5.9 | $6.2 | -$0.3 | -4.3% |
| Orthobiologics | $23.8 | $21.3 | $2.5 | 11.6% |
| Total | $177.2 | $169.3 | $7.9 | 4.7% |
Geographic results: U.S. $132.1MM, +6.1%; ex-U.S. $45.0MM, +0.6%
1Q17 performance highlights:
- SIMPLICITI drove 13% growth in U.S. shoulder revenue
- Launched PerFORM Reversed Glenoid implant with porous metal fixation; most product availability in 1H will support existing business; should accelerate revenue in 2H17
- Commenced staged rollout of BluePrint 3D Planning software
- “Technologically advanced” products in U.S. lower extremities and biologics, e.g. AUGMENT, SALVATION limb salvage and total ankles, grew at 28% YoY; core lower extremities and biologics growth was “significantly lower” primarily due to anticipated revenue dis-synergies
- U.S. total ankle revenue +18% vs. 1Q16
- Biologics growth affected by lower sales of non-AUGMENT-products, which are directly related to core foot/ankle procedures that were slower in 1Q (note that this does not include total ankle)
- Growth rate declines partially attributed to salesforce expansion: added 115 U.S. sales reps (30 more than originally anticipated), 100 of which cover U.S. lower extremities (of that, half are new hires)
- Medicare’s FY2018 Inpatient Prospective Payment System Proposed Rule indicates a proposed $7,000 increase in payment for total ankle replacement (would be effective in 4Q17, if enacted)
- Remaining 2017 launches include SALVATION line extensions (2H), INVISION Revision Ankle (expected 3Q), ORTHOLOC 3Di Ankle Fracture LP system (expected 4Q)
Sources: Wright Medical Group, Inc.; ORTHOWORLD estimates
An ORTHOWORLD Observation:
Our 2016 estimates place Wright Medical’s share of the Extremities Reconstruction market at 16%, #3 behind DePuy Synthes and Zimmer Biomet and about three times the size of Stryker’s #4 share.
In Trauma, our estimates place Wright Medical at #5, behind Smith & Nephew in 2016 by about $155 million.
Wright Medical reported 1Q17 revenue of US $177.2MM, +4.7% from 1Q16.
ORTHOWORLD estimates 1Q17 segment sales and growth on an as-reported basis, as follows.
Q17
Q16
$ Change
% Change
Joint Reconstruction Extremities
$81.1 ...
Wright Medical reported 1Q17 revenue of US $177.2MM, +4.7% from 1Q16.
ORTHOWORLD estimates 1Q17 segment sales and growth on an as-reported basis, as follows.
| 1Q17 | 1Q16 | $ Change | % Change | |
| Joint Reconstruction Extremities | $81.1 | $76.6 | $4.5 | 5.9% |
| Trauma | $66.4 | $65.2 | $1.1 | 1.7% |
| Arthroscopy/Soft Tissue | $5.9 | $6.2 | -$0.3 | -4.3% |
| Orthobiologics | $23.8 | $21.3 | $2.5 | 11.6% |
| Total | $177.2 | $169.3 | $7.9 | 4.7% |
Geographic results: U.S. $132.1MM, +6.1%; ex-U.S. $45.0MM, +0.6%
1Q17 performance highlights:
- SIMPLICITI drove 13% growth in U.S. shoulder revenue
- Launched PerFORM Reversed Glenoid implant with porous metal fixation; most product availability in 1H will support existing business; should accelerate revenue in 2H17
- Commenced staged rollout of BluePrint 3D Planning software
- “Technologically advanced” products in U.S. lower extremities and biologics, e.g. AUGMENT, SALVATION limb salvage and total ankles, grew at 28% YoY; core lower extremities and biologics growth was “significantly lower” primarily due to anticipated revenue dis-synergies
- U.S. total ankle revenue +18% vs. 1Q16
- Biologics growth affected by lower sales of non-AUGMENT-products, which are directly related to core foot/ankle procedures that were slower in 1Q (note that this does not include total ankle)
- Growth rate declines partially attributed to salesforce expansion: added 115 U.S. sales reps (30 more than originally anticipated), 100 of which cover U.S. lower extremities (of that, half are new hires)
- Medicare’s FY2018 Inpatient Prospective Payment System Proposed Rule indicates a proposed $7,000 increase in payment for total ankle replacement (would be effective in 4Q17, if enacted)
- Remaining 2017 launches include SALVATION line extensions (2H), INVISION Revision Ankle (expected 3Q), ORTHOLOC 3Di Ankle Fracture LP system (expected 4Q)
Sources: Wright Medical Group, Inc.; ORTHOWORLD estimates
An ORTHOWORLD Observation:
Our 2016 estimates place Wright Medical’s share of the Extremities Reconstruction market at 16%, #3 behind DePuy Synthes and Zimmer Biomet and about three times the size of Stryker’s #4 share.
In Trauma, our estimates place Wright Medical at #5, behind Smith & Nephew in 2016 by about $155 million.
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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.
