Medicrea Reports First Half 2019 Sales
09 Juillet 2019 - 8:18PM
Business Wire
- 4,000 UNiD™ Patient-specific Surgeries Milestone Achieved as
of June 30th, 2019
- Worldwide Sales Increased by 10% (+6% at Constant Exchange
Rate) on a Comparable Basis
- USA Sales Increased by +15% (+7% at Constant Exchange
Rate)
The Medicrea Group (Euronext Growth Paris - FR0004178572 -
ALMED; OTCQX Best Market – MRNTF), pioneering the digital
transformation of spinal surgery through artificial Intelligence,
predictive modeling and patient specific implants with its UNiD
ASI™ (Adaptive Spine Intelligence) proprietary software platform,
services and technologies, publishes sales for the first half of
2019.
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the full release here:
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(€ millions)
H1 2018
H1 2019
Variation
Variation at Constant Exchange
Rate
USA
Rest of the world
7.6
7.0
8.7
7.4
+15%
+6%
+7%
+6%
Total Sales – Comparable basis
Discontinued activities
Total Sales
14.6
2.3
16.9
16.1
-
16.1
+10%
-
(5)%
+6%
-
(9)%
Sales for the first half of 2019 amounted to 16.1 million euros,
up 10% (+6% at constant exchange rates) compared to 2018 on a
pro-forma basis. In the United States, the Group's most significant
market, sales growth continued with an increase of 15% compared to
6% for the rest of the world (respectively + 7% and + 6% at
constant exchange rates). As previously mentioned, Medicrea
discontinued non-strategic activities on July 1st, 2018, which
represented 2.3 million euros of sales in the first half of 2018,
showing a total decrease in sales of 5% over the period. These
activities will no longer impact the period-over-period comparisons
effective the second half of 2019.
The first half of 2019 demonstrated record activity for UNiD™
patient-specific rods. The milestone of 4,000 surgeries performed
has been achieved, with 423 surgeries in the 2nd quarter of 2019.
In the month of June alone, 171 personalized UNiD™ surgeries were
performed and a new monthly record should be established in
July.
The adoption of UNiD ASI™ technology for patient-specific spinal
surgery is accelerating rapidly quarter-over-quarter. The following
graph shows the evolution of total UNiD™ surgeries over a rolling
4-quarter period. Over the last 18 months, the increase exceeds 80%
(825 surgeries performed over the last 4 quarters at the end of Q4
2017 versus 1,510 at the end of Q2 2019).
Outlook
The increasing use of expert pre-operative planning and patient
analysis services by the UNiD Lab™ engineering teams using the
proprietary UNiD™ platform represents a significant revenue
potential for Medicrea due to two opportunities:
- UNiD™ patient-specific rods are systematically implanted with
associated implants (screws, connectors) marketed by the Company.
This is currently the case for only 50% of UNiD™ surgeries in the
United States due to surgeons implanting "Tulip-based” pedicle
screw systems from their historical suppliers in combination with
Medicrea's UNiD™ patient-specific rods. A steady increase of this
ratio will allow Medicrea to significantly increase its revenue in
this market, especially since the Company now has a product
portfolio that adapts to all surgeons’ practices, particularly
since the FDA approval of its new Tulip Genesis screw system, whose
first kits have just been delivered in the United States for its
commercial launch in Q3 2019. This recent approval from the FDA
will be a key growth driver for the Company and will be announced
in detail within the next few days.
- In order to enhance innovation and accelerate the monetization
of the expert services powered by the predictive model and
Artificial Intelligence developed on the clinical database
collected by the UNiD ASI™ platform, Medicrea also plans to invoice
UNiD™ patient-specific rod planning services in the USA, and not
just the implants that result from surgical planning.
“We have developed an unparalleled surgical planning software
platform that positions us as a unique player in personalized spine
surgery. Thanks to the UNiD ASI™ technology and the skills of our
UNiD Lab™ engineers, we dramatically improve the standard of care
of spinal pathologies by offering a solution adapted to each
patient. This offer brings significant added value to our
customers. We will continue to deploy capital expenditures and
resources to accelerate the adoption of this technology”, commented
Denys Sournac, President and CEO of Medicrea.
Next publication: Results for the First Half of 2019:
Wednesday, September 18, 2019, after-market.
About Medicrea (www.medicrea.com)
Through the lens of predictive medicine, Medicrea leverages its
proprietary software analysis tools with big data and machine
learning technologies supported by an expansive collection of
clinical and scientific data. The Company is well-placed to
streamline the efficiency of spinal care, reduce procedural
complications and limit time spent in the operating room.
Operating in a $10 billion marketplace, Medicrea is a Small and
Medium sized Enterprise (SME) with 200 employees worldwide, which
includes 50 who are based in the U.S. The Company has an
ultra-modern manufacturing facility in Lyon, France housing the
development and production of 3D- printed titanium patient-specific
implants.
For further information, please visit: Medicrea.com.
Connect with Medicrea FACEBOOK |
INSTAGRAM | TWITTER | WEBSITE | YOUTUBE
Medicrea is listed on EURONEXT Growth
Paris ISIN: FR 0004178572 Ticker: ALMED LEI:
969500BR1CPTYMTJBA37
Medicrea is traded on OTCQX Best Market
Ticker: MRNTF
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version on businesswire.com: https://www.businesswire.com/news/home/20190709005802/en/
Medicrea Denys SOURNAC Founder, Chairman and CEO
dsournac@medicrea.com
Fabrice KILFIGER Chief Financial Officer fkilfiger@medicrea.com
Tel: +33 (0)4 72 01 87 87