Medicrea Reports 2018 Fourth Quarter and Annual Sales Confirmation of Strong Growth Momentum
Fourth quarter sales: +30% (at constant exchange rate)
Annual sales: +22% (at constant exchange rate)
Fourth quarter UNiD ASI ™ personalized surgeries in the US: + 94%
LYON, France & NEW YORK--(BUSINESS WIRE)-- The Medicrea Group (Euronext Growth Paris: FR0004178572-ALMED ; OTCQX Best Market –MRNTF), pioneering the 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, today announced full year 2018 sales.
Change at constant
Medicrea closed the 2018 financial year on a very positive trend by achieving the best fourth quarter in its history. Sales were 8.0 million euros, up 30% compared to the 4th quarter of the previous year. In the United States, sales increased by 27%, driven by a sharp acceleration in the number of personalized UNiD™ surgeries since the second half of the year.
Sales for 2018 amounted to 32.3 million euros, representing a growth of + 22% at constant exchange rates compared to 2017. All historical markets (United States, France, export distribution) grew versus the previous year and the new subsidiaries (particularly Belgium and Australia) are now contributing significantly to Group revenue.
"We are pleased to have returned to double digit sales growth this year, reaching a milestone of more than 30 million euros of sales. We ended the year with a very strong quarter, particularly in the US, our priority market. I am confident of our ability to accelerate our growth in 2019, building on our innovative comprehensive offering of personalized UNiD™ services and implants for patient-specific spinal surgery," commented Denys Sournac, Chief Executive Officer of Medicrea.
Nearly 3,200 UNiD™ personalized surgeries have been performed to date, of which 1,250 were performed only over the past year, an increase of 53% versus 2017.
"US surgeons are particularly attracted to the benefits of our UNiD™ offering of personalized services and implants. The number of patient-specific surgeries performed in the fourth quarter in the United States was up sharply by + 94% compared to the fourth quarter of 2017. We have seen an increase in surgeries each quarter and we should quickly surpass the threshold of 100 UNiD™ surgeries per month in the US market following the continued adoption of our technology by new prestigious centers specializing in the treatment of spinal surgeries," continued Denys Sournac.
At the end of 2018, Medicrea obtained the necessary authorizations to manufacture in-house the LigaPASS®, its flagship spinal ligament-plasty product, which should contribute to improving the gross margin. In addition, the Group is in the process of filing with the FDA the file for the marketing in the United States of a latest generation generic tulip screw which will provide a more complete product offering, particularly for surgeons who have already widely adopted UNiD® patient-specific rods. In parallel with the enrichment of the UNiD™ offering, Medicrea will continue to improve and expand its product ranges in 2019 including the ability for surgeons to precisely select before surgery all the screws, implants and interbody devices that will be used.
Next publication: 2018 Annual Results on March 21st, 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.
Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572
Medicrea is traded on
OTCQX Best Market
Source: The Medicrea Group