Market Overview

Medicrea Reports Third Quarter 2017 Sales

Share:

The Medicrea Group (Euronext Growth Paris: FR0004178572 - ALMED),
pioneering the convergence of healthcare IT and next-generation,
outcome-centered device design and manufacturing with UNiD™ ASI
technology, publishes its sales for the 3rd quarter ended
September 30, 2017.

                   
€ millions     2016     2017     Change

Q3

   

6.8

   

6.4

   

-5%

9 months to September 30     21.6     21.1     -2%
 

Changes in foreign exchange rates had no material impact on
sales for the period

 

Sales totaled €6.4 million over the 3rd quarter, down 5%
compared to the same period of 2016, adversely affected since the start
of the fiscal year by the complete lack of commercial activity in Brazil
(the leading export market up to that point, excluding the distribution
subsidiaries) since the beginning of the year.

The regulatory certifications required to deliver the Medicrea implants,
now fully manufactured in the new ultra-modern Lyon facilities, to the
Brazilian market have been definitively obtained since the ANVISA audit,
which confirmed the compliance of the equipment and soundness of the
Company's quality system. This inability to deliver to the Brazilian
market since the beginning of 2017 will generate a sales shortfall of
almost €2 million over the full year 2017. Sales in Brazil will return
to a normative level in 2018. In the United States, the momentum for
adoption of UNiD™ ASI technology continues with the implantation of
patient-specific UNiD™ Rods posting growth in excess of 42% over the 9
months to September 30, 2017 compared to the same period of 2016.

"Our development model is transforming, with the gradual integration of
a unique and comprehensive digital healthcare platform that no other
traditional spinal implant manufacturer is able to offer today. In the
United States, this transformation was accompanied by organizational
changes and a necessary adaptation of the sales force, more accustomed
to selling surgical implants than offering sophisticated planning
services and personalized solutions with high added value for each
patient and adapted to the technique of each surgeon. The overall growth
of our activity in this priority market is temporarily affected by these
changes, but I am confident that with the two major recruitments we have
just achieved, which we will be announcing in the near future, and
especially with the very promising clinical results recently released
with the publication of our White Paper on rod fracture rates, the use
of our UNID™ ASI technology by surgeons and hospitals should accelerate
significantly," stated Denys Sournac, President and CEO of Medicrea.

Next publication: 2017 Annual Sales on January 11, 2018 after
market.

About Medicrea (www.Medicrea.com)

Through the lens of predictive medicine, Medicrea leads the design,
integrated manufacture, and distribution of 30+ FDA approved spinal
implant technologies that have been utilized in over 150,000 spinal
surgeries to date. By leveraging its proprietary software analysis tools
with big data and machine learning technologies and supported by an
expansive collection of clinical and scientific data, Medicrea 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 175 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
patient-specific implants 3D-printed from powdered Titanium.

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

View Comments and Join the Discussion!
 

Partner Center

Loading...