Financial

Medicrea Reports Full Year 2017 Sales

January 15, 2018

LYON, France & New York–(BUSINESS WIRE)–The MEDICREA Group (Euronext Growth: FR0004178572 – ALMED), pioneering the convergence of healthcare IT and next-generation, outcome-centered device design and manufacturing with UNiD ASI technology, today announced full year 2017 sales.

(€ millions) 2016 2017 % Change
Patient-specific sales activity with UNiD ASI 7.5 8.7 +16%
Traditional sales activity with historic products 21.9 18.4 -16%
Full year sales 29.4 27.1 -8%

Changes in exchange rates had a negative impact of 1% on year-to-year comparison

The Group reported varied commercial performance depending on the geographic area:

  • In France, under stable market conditions, Medicrea achieved a turnover of 6 million euros in 2017, up 15% compared to 2016 driven by the adoption of its UNiD ASI technology by a growing number of surgeons.
  • Following the need to regain registration for all products in the range with the Brazilian health authorities and obtain validation of the new manufacturing facility, no sales were made in this market during 2017 (turnover of 2 million euros in 2016). Since the authorizations were re-issued in December, the activity should return to a normative level from 2018. Excluding Brazil, the distribution business grew by 6%, generating a turnover of 3.6 million euros.
  • In the United States, the Group’s primary market, the commercial efforts in 2017 focused exclusively on the development of the UNiD ASI patient-specific implant technology and resulted in a 36% increase in the number of surgeries performed (472) compared to 2016, generating a revenue of $8.3 million ($7.2 million in 2016). Overall, sales in the U.S. were down 8% due to a downswing in the traditional sales activity with historic products, which no longer represents a strategic objective.

“We have invested heavily in 2017 in the development and adoption of our UNiD ASI technology, particularly in the United States, where the sales and marketing teams have been mobilized to deploy tools and services that will provide surgeons with advanced treatment solutions, fully planned and customized for each patient, focused on improving clinical outcomes. This development has a distinct impact on the development of our sales in our priority market, but given our success in France, where we have tested, prepared and refined our strategy, I am convinced that the pace of our technology’s adoption will increase significantly in the United States in the coming quarters. The recent FDA clearances for our new PASS TULIP® fixation system and our 3D-printed titanium interbody devices will allow us to take a position on markets where we were not yet present and thus expand our business,” stated Denys Sournac, President and CEO of Medicrea.

Equity financing

On December 22, 2017, MEDICREA raised €7.2 million in ABSA (ordinary shares with warrants attached) from US institutional investors. The exercise of all warrants would generate additional proceeds of €3.7 million.

Next publication: 2017 Annual results: March 27, 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 3D-printed titanium patient-specific implants.

For further information, please visit: www.medicrea.com

Connect with Medicrea:
FACEBOOK | INSTAGRAM | TWITTER | WEBSITE | YOUTUBE

Medicrea is listed on
EURONEXT Growth Paris
ISIN: FR 0004178572
Ticker: ALMED
LEI: 969500BR1CPTYMTJBA37

Contacts

Medicrea
Denys Sournac
Founder, Chairman and CEO
dsournac@Medicrea.com
or
Fabrice Kilfiger, +33 (0)4 72 01 87 87
Chief Financial Officer
fkilfiger@Medicrea.com

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Drue De Angelis

Drue is Managing Partner for The De Angelis Group, Executive Search firm exclusively for the Ortho & Spine industry.

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