January 15, 2020
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 2019 sales.
|Rest of the world||13.8||14.8||+7%||+7%|
|Total Sales – Comparable basis||29.4||32.7||+11%||+8%|
Revenue for the 4th quarter of 2019 amounted to 8.4 million euros, the best quarter ever on a comparable basis. In 2019, total sales reached 32.7 million euros, up +11% compared to the same period of the previous year. The American, Belgian and French markets are fueling this growth, complemented by the development of the activity in Australia.
MEDICREA®’s development in 2019 can be analyzed above all by the breakthrough of its strategic UNiD ASI™ activity of preoperative surgical planning and design of patient-specific implants. Each quarter setting a record compared to the previous one, the 4th quarter of 2019 definitively anchors this trend with 525 personalized surgeries performed, up +40% compared to the 4th quarter of 2018 and + 50% in the United States alone over the same period.
In 2019, more than 1,850 surgeries with MEDICREA® patient-specific implants were performed, an overall increase of + 48% compared to 2018 and + 55% for the US market alone.
The objective of 5,000 cumulative surgeries at the end of 2019 was exceeded (5,040 surgeries performed) and the current trend should allow the Company to report a significant increase in the use of its UNiD ASI™ technology in 2020.
“Our UNiD ASI™ platform and the associated analysis, planning and design services for patient-specific implants enable us to offer surgeons today a unique solution that increases their potential for the treatment of spinal pathologies. There is no longer any doubt that Artificial Intelligence, predictive modeling and personalized implants are the future of spine surgery. MEDICREA® was able to detect this development very early on. The market has moved from the era of standard products to that of service platforms and patient-specific products.
“We have over 100 surgeons in the United States using UNiD ASI™ technology, 50 of whom have adopted it this year. The potential, in terms of number of users and associated turnover, is extremely large and will support growth over 2020,” commented Denys Sournac, President and CEO of MEDICREA®.
In recent years, MEDICREA® has revolutionized personalized spinal surgery. Its disruptive ideas and innovative patient-specific technologies are shaping a new business model by combining implants, high-precision patient analysis, and preoperative planning guided by proprietary Artificial Intelligence technology enriched with each new patient operated on. MEDICREA® is the pioneer and world leader in this new personalized approach to spinal treatment.
On December 31, 2019, the Group was cash position with approximately 3.9 million euros (unaudited basis) and financial debt (excluding IFRS 16 restatement and liabilities relating to the purchase of minority interests in subsidiaries) amounting to 36.9 million euros, of which 1.9 million euros is due in less than one year and 35 million euros after one year.
Next publication: 2020 First Quarter sales: April 7, 2020 before 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 180 employees worldwide, which includes 40 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
Tickers: MRNTY & MRNTF
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