Medicrea Reports Third Quarter 2019 Sales
11 Octobre 2019 - 4:34PM
Business Wire
- THIRD QUARTER SALES AT €8.2M: +20% (+17% AT CONSTANT
EXCHANGE RATE) ON A COMPARABLE BASIS VS Q3 2018
- USA SALES INCREASED BY +28% IN THE THIRD QUARTER (+22% AT
CONSTANT EXCHANGE RATE) VS Q3 2018
- 500 UNiD™ SURGERIES DURING THE THIRD QUARTER ALONE / 4,500
SURGERIES SINCE THE COMMERCIAL LAUNCH
- OBJECTIVE OF 5,000 UNiD™ SURGERIES ON A CUMULATIVE BASIS BY
END OF 2019 CONFIRMED
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 third quarter of
2019.
(€ millions)
YTD
September
2018
YTD
September
2019
Variation
Variation
at
Constant
Exchange
Rate
USA
Rest of the world
11.5
9.9
13.7
10.6
+19%
+7%
+12%
+7%
Total Sales – Comparable basis
Discontinued activities
Total Sales
21.4
2.8
24.2
24.3
-
24.3
+13%
-
+0%
+10%
-
(3)%
Sales for the third quarter of 2019 amounted to 8.2 million
euros, up 20% (+17% at constant exchange rates) compared to the
third quarter of 2018, on a comparable basis. The Company concluded
a very dynamic quarter, the 2nd highest quarter in its history just
after Q2 2019, despite the usual summerseasonality effect. Growth
in the United States accelerated to +22% at constant exchange rate
over the period. The Group's other main markets are also showing
strong growth: In Belgium, where the Group opened a direct sales
subsidiary at the beginning of 2018, sales increased by +15%
compared to the same quarter of the previous year. In France, the
historical market, impaired by strong pricing pressures, sales grew
by +9%. In Australia, the commercial efforts deployed since the
subsidiary's launch in the second half of 2018 are beginning to
bear fruit with an acceleration in the number of surgeries
performed.
Cumulative sales at the end of September 2019 amounted to 24.3
million and increased by +13% on a comparable basis compared to the
same period last year (+10% on a constant currency basis).
UNiD ASI™, the strategic activity of preoperative surgical
planning and patient-specific implant design, is experiencing very
strong growth: 500 personalized surgeries were performed in the 3rd
quarter alone, +18% compared to the previous quarter and +57%
compared to the 3rd quarter of 2018, for a total of 4,500 surgeries
since the launch. In the United States, the trend is even better
with an increase in the number of surgeries of +77% over the first
9 months of the year. The objective of 5,000 surgeries performed
cumulatively by the end of 2019 will be exceeded.
Outlook
Sales generated by the United States increased significantly in
the third quarter of 2019 (60% compared to 54% in the first half of
2019) due to the increase in sales of UNiD™ patient-specific rods
and the pre-commercial launch of the new Tulip screw FDA approved
last May. As a result, gross margin should reach 80% in the third
quarter hence hitting the target set at the beginning of the
year.
« Q3 is promising for both our revenue and gross margin thanks
to our performance in the United States. The double-digit sales
growth and the threshold of 200 UNiD™ personalized surgeries to be
reached monthly soon offer solid prospects. Through the continuous
enhancement of our service offering grouped within the UNiD ASI™
platform and the power of the data analysis and artificial
intelligence tools we have developed, we are constantly improving
the success of surgical procedures and patient outcomes. Many
surgeons rely on our technological advances and are increasingly
opening up to the Company's other cutting-edge thoracolumbar
fixation systems. If we can accelerate this conversion to all our
products by strengthening our leadership in personalized spine
surgery, looking for opportunities that would allow us to quickly
make further technological leaps, we will experience a strong
growth phase in the coming quarters », commented Denys Sournac,
President and CEO of Medicrea.
Next publication: Results for the Third Quarter of 2019:
Tuesday, November 19th, 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 180 employees worldwide, which
includes 40 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
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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/20191011005353/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