MEDICREA: Q1 2013 Sales

MEDICREA: Q1 2013 Sales

LYON, France--(BUSINESS WIRE)-- The MEDICREA Group (FR0004178572-ALMED), a company that specializes in the development of innovative surgical technologies for the treatment of spinal pathologies, listed on Alternext by NYSE - Euronext Paris, announces its sales results for the 1st quarter of 2013.

 

                                 

 

 

€m

            Q1 2013       Q1 2012       Variance

 

 

Sales

            5.38       4.85       +11%

 

                       

Forex changes had no significant impact on 1 st quarter sales growth

 

First quarter sales increased by +11%, compared with the same quarter of 2012, in an environment that remains difficult due to pricing pressure, more stringent reimbursement conditions, and healthcare policy reforms, particularly in Europe. Within this context, developing business in markets with higher selling prices (United States) and/or buoyant growth (Southeast Asia) is one of the Group’s key objectives for 2013.

Over the 1st quarter, our US subsidiary’s sales increased by +22% compared with the previous year. For 2013 in the USA, thanks to the expansion of the PASS® LP range and a focus on complex deformity surgeons, we expect our sales to grow in the 30% range, which will enable us to improve the Group’s gross margin and record a solid operating profit," says Denys Sournac, Chairman and CEO of MEDICREA. With the break-even point having now been reduced to 1.7 million euros of monthly sales, the Group should be profitable beginning with the 1st quarter of 2013.

OUTLOOK

The Group’s 2013 development prospects were detailed when it published its 2012 annual results on March 25th, which can be found on www.medicrea.com, and remain unchanged. The Group intends to develop its strategy by entrusting the marketing of some of its innovations to one or more North American partners, in the form of exclusive distribution licenses. Negotiations are currently underway regarding the Granvia-C® cervical disc prosthesis.

Next publication : Sales for the 1st half of 2013: July 11th 2013, after market.

ABOUT MEDICREA ( www.medicrea.com )

MEDICREA specializes in the design, development, manufacture and distribution of orthopedic implants dedicated to spinal surgery. In a $10 billion market, MEDICREA is a very dynamic small to medium-sized business of 110 employees with unique innovation capabilities. The Company enjoys an excellent and ever-improving reputation and develops unique relationships with the most visionary and creative spine surgeons in France, the UK, and the USA. Products developed and patented by MEDICREA provide neurosurgeons and orthopedic surgeons specialized in the spine with new and less-invasive surgical solutions that are faster and easier to implement than traditional techniques. The Group’s headquarters are based near Lyon, France, and it also has a manufacturing facility located in La Rochelle as well as three distribution subsidiaries in the USA, the UK and France.

MEDICREA is listed on ALTERNEXT by NYSE - Euronext Paris
ISIN: FR 0004178572 – Ticker: ALMED



MEDICREA
Denys Sournac, +33 (0)4 72 01 87 87
Chairman and Chief Executive Officer
dsournac@medicrea.com
or
Fabrice Kilfiger, +33 (0)4 72 01 87 87
Chief Financial Officer
fkilfiger@medicrea.com
or
NewCap.
Financial Communication / Press and Investor Relations
Sophie Boulila / Pierre Laurent, +33 (0)1 44 71 94 91
medicrea@newcap.fr

KEYWORDS:   United States  Europe  North America  France  New York

INDUSTRY KEYWORDS:

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