The MEDICREA Group (FR0004178572-ALMED), a company specialized in
the development of innovative surgical technologies for the treatment of
spinal pathologies, listed on Alternext by NYSE - Euronext Paris,
announces its 2012 annual sales.
2012 ANNUAL SALES
2012 annual sales were up 8.5% compared with 2011. "This performance was
achieved within a global competitive and economic environment that has
become tougher over the last 2 years because of pressure from
reimbursement systems in Europe and the United States," says Denys
SOURNAC, Chairman and CEO of MEDICREA.
"Despite this context, our US subsidiary demonstrates again robust
growth following the redeployment of our sales organization. Sales,
which were down 16% over the first quarter of 2012 compared to the same
period of 2011, gradually improved through the year and were up 41% over
the fourth quarter. In 2013, the recovery of US economic activity should
enable us to reap the benefits of our marketing investments and
distribute the PASS®LP range's latest innovations more broadly amongst
an expending number of surgeon users," adds Denys SOURNAC.
The Group has managed to repeatedly reduce its operational breakeven
point throughout 2012, and it now stands close to the equivalent of 5
million euros of sales per quarter. 2012 annual results should show a
substantial improvement in our core operating profit.
In 2013, the Group intends to continue increasing its market share,
notably in the United States, by developing sales of its comprehensive
PASS®LP thoraco-lumbar fixation system, which accounts for over 80% of
sales, and to set up exclusive licensing agreements for the use of some
of its other proprietary technologies. In this respect, negotiations
have been instigated with American partners, notably regarding the
Granvia-C® cervical disc prosthesis.
In the coming weeks, the Group will also register a request for the
definitive approval of its K-Jaws® implant with the FDA. A distribution
pre-agreement has already been negotiated for this implant.
2012 annual results: March 25th 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 115 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
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