LYON, France–(BUSINESS WIRE)–The MEDICREA Group (Paris:ALMED), listed on Alternext by NYSE – Euronext Paris, a specialist in the design, manufacture and sale of spinal implants, is publishing its 2009 Q3 sales.
Sales up 82 % compared to the same period in 2008.
Acceleration of the penetration of the US market with sales up 133 % at the end of September. US sales now accounting for almost 50 % of the total business activity.
Sales in € millions 2008 2009 Variation
1st Quarter 2.1 2.8 + 33%
2nd Quarter 2.5 3.3 + 32%
3rd Quarter 1.7 3.1 + 82%
Year-to-date 6.3 9.2 + 46%
Including USA 1.8 4.2 + 133 %
SALES GROWTH ACCELERATING AT END-SEPTEMBER
During Q3, typically a period where surgeries are slowing down, MEDICREA has posted a steep sales increase and record growth (+82%) of €3.1 million, with sales close to those of its best quarter ever.
Nine-month sales reached €9.2 million. “Sales were up 46% at end-September, vs. 32% at end-June. This accelerated development demonstrates the relevance of our innovation-focused strategy and the pragmatism of our sales organization,” said MEDICREA Chairman and CEO, Denys Sournac.
GROWTH DRIVEN BY U.S. SALES
In the United States, the world’s largest market, an increasing number of surgeons are fast becoming users of MEDICREA implants. By end-September, this commercial success story translated into a 133% sales increase (+112% at constant exchange rate). The U.S.A. also represented 50% of overall Group sales in Q3. “In less than three years, we have achieved remarkable penetration of the American market, where our largest competitors are very well established. Despite an unfavorable EUR/USD exchange rate, we are making our best margins in the U.S.A. We are able to sell our products at a premium because they are so innovative, and our prices are in line with the improvements our devices offer to both patients and surgeons in terms of surgical results, minimal invasiveness, and reduced operating time,” said Denys Sournac.