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, publishes its sales for the first quarter of 2019.
|(‚¬ millions)||Q1 2018||Q1 2019||Variation|
Variation at Constant Exchange Rate
Rest of the World
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| Total Sales “ Comparable basis|
Sales for the first quarter of 2019 amounted to 7.7 million euros, up 10% (+6% at constant exchange rates) compared to 2018 on a pro-forma basis, thanks to the growth in the USA, the Group’s priority market. Sales in the USA increased by +15% (+8% at constant exchange rates), maintaining the positive trend observed since the second half of 2018.
Two non-strategic distribution activities of third-party products (mainly biologics) and services (surgical motor repairs), generating gross margins well below the normative level of 80% targeted by the Group, were discontinued in 2018. They contributed 1.2 million euros to revenue in the 1st quarter of 2018, thus accounting for the 6% overall decline in sales compared to prior year. The discontinuation of these European market related activities will no longer have an impact on the comparability of sales as of the second half of 2019.
The number of patient-specific UNiD surgeries is increasing strongly, mainly in the USA, up 68% in Q1 2019 compared to the same period in 2018. Over 3,500 UNID surgeries were performed to date, of which 60% performed in the USA, with 40 new US surgeons having adopted UNiD ASI„¢ technology over the last twelve months.
“The relevance of personalized treatment adapted to each patient is now obvious to all players in our sector. Medicrea was the pioneer and the first spine company to develop patient-specific implants and offer surgeons associated data analysis services to support their practice. This strategic vision has led us to file patents early on, largely protecting these innovations, thus giving Medicrea a very important competitive advantage in a market that will continue to consolidate,” commented Denys Sournac, President and CEO of Medicrea.
Since the beginning of the UNiD ASI„¢ project, MEDICREA has filed 5 patent families comprising 35 titles (25 have already been issued), in the USA, Europe, Australia and Japan. Through the use of artificial intelligence and predictive models, these patents cover a wide range of tools and means whose objective is to transform the medical care and the surgical treatment of patients with spinal pathologies in order to improve clinical outcomes.
According to its plan, in the first quarter of 2019, the Company filed with the US Food and Drug Administration (FDA) the 510K homologation file for a new high-end Tulip type pedicle screw system, which will be launched commercially during the second quarter. Combined with patient-specific UNiD rods, this new implant, which primarily addresses degenerative spinal pathologies and adult deformities, is eagerly awaited by current users of the UNiD ASI„¢ technology and is expected to increase the overall procedural revenue for hospitals already using this technology.
Next publication: 2019 First Quarter Results: May 16th 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 Ticker: ALMED LEI: 969500BR1CPTYMTJBA37
Medicrea is traded on OTCQX Best Market Ticker: MRNTF
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