MEDICREA Reports Third Quarter 2017 Sales
Published: Oct 13, 2017
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 device design and manufacturing with UNiD™ ASI technology, publishes its sales for the 3rd quarter ended September 30, 2017.
|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.
Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572