LYON, France & NEW YORK--(BUSINESS WIRE)--The Medicrea Group (Euronext Growth Paris: FR0004178572 -ALMED), pioneering the convergence of healthcare IT and next-generation, outcome-centered spinal device design with UNiD ASI™ (Adaptive Spine Intelligence) technology, announced today sales for the first half of 2018.
Sales for the first half of 2018 amounted to € 16.9 million, up 22% at constant exchange rates compared to the first half of 2017. Second quarter sales reached € 8.8 million, a new historic performance following the previous record of € 8.2 million in the first quarter of 2018.
"We have resumed the path of sustained growth, with the expectation that recent US registrations for two key product families in our development strategy, the top-loading thoracolumbar fixation system PASS TULIP™ and our IB3D™ 3D-printed titanium interbody cages, will further contribute to the turnover from the second half of 2018," stated Denys Sournac, President and CEO of Medicrea.
The month of June 2018 shows the best performance of the year with:
- Sales for an amount of € 3.4 million, reflecting the resumption of strong growth from the very beginning of 2018;
- Record number of 116 patient-specific UNiD® Rod surgeries performed for the month of June, confirming the adoption of personalized UNID ASI™ services and implants by a growing number of surgeons. In total, 2,500 UNiD® patient-specific surgeries have been performed since the launch of this technology associated with service expertise delivered by the UNiD Lab™.
In the United States, patient-specific UNID® surgeries are reported to be up + 50% in the first half of 2018 compared to the same period in 2017. The reorganization of the sales force at the end of 2017 aimed at refocusing efforts on the UNiD ASI™ platform is starting to bear fruit. The UNiD ASI™ activity represents more than 60% of total sales for the US subsidiary.
Outside of the United States, sales with international distributors grew by 40% following the opening of new countries and the resumption of invoicing in Brazil. The new Belgian subsidiary, Medicrea Belgium, which was incorporated in February 2018, contributed significantly to the half-year turnover, as hospitals are now billed directly. In France, the Company is also continuing its market share gains with a + 3% growth in sales. Medicrea is now also active on the Australian market with a distribution subsidiary operating since June that is expected to represent a significant source of additional revenue in the medium term given the attractive pricing sustained by the local market for premium products.
"In 2018, we have started to see strong growth in the use of our UNiD ASI™ preoperative planning services and patient-specific implants, which confirms that surgeons are interested in this technology and moreover the relevance of our strategic positioning. We believe that this fully personalized approach to treating spinal pathologies will become the standard of care over the coming years as it improves patient outcomes while reducing costs to the healthcare system," stated Denys Sournac, President and CEO of Medicrea.
“In May of 2018, the Company achieved FDA 510(k) clearance for its 3D-printed patient-specific interbody devices. With this world-first clearance, Medicrea is able to digitally plan, manufacture in-house and supply a 3D-printed device in the United States that has been optimized to follow each patient’s unique spinal anatomy using the Company’s proprietary AI-driven UNiD technology,” Mr. Sournac continued.
“We are confident in pursuing this growth throughout the second half of the year, particularly in the United States, by deploying new services and products for the personalized treatment of spinal pathologies and should be on track to be EBITDA positive during 2018,” Mr. Sournac concluded.
Next publication: Results for the First Half of 2018: Tuesday, September 18, 2018, 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 185 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.
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Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572