LYON, France--(EON: Enhanced Online News)--The MEDICREA Group (FR0004178572-ALMED), which specializes in the development of innovative surgical technologies for the treatment of spinal pathologies, listed on Alternext by NYSE - Euronext Paris, announces its sales for the third quarter of 2013, ended September 30.
“Our growth was moderate last quarter but, with a center of gravity that is gradually shifting to the United States, our gross margin continues to improve. Indeed it rose above 80% in the third quarter”
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Forex changes had a negative impact of €0.2m on 3rd quarter sales growth
In the third quarter, the Group recorded over 60% of its sales on the U.S. market, with sales in US dollars increasing by 29% compared with the third quarter of 2012. In euros, the increase over the period was 23% because of a negative currency exchange impact.
“We are accelerating our development in the United States via our two distribution networks: direct and indirect. With the majority of our U.S. user surgeons attending the world’s largest scientific congress (SRS) devoted to scoliosis for an entire week in September, a congress held in Lyon for the first time, our third quarter performance could have been even better. However, this event did provide the Group with a unique opportunity to highlight its expertise and ambitions amongst U.S. opinion leaders”, says Denys SOURNAC, Chairman and CEO of MEDICREA.
At Group level, quarterly sales were up 4% over the same period of 2012 in a market that remains unsettled, essentially in Europe because of the pricing cuts imposed by national health system reforms. “Our growth was moderate last quarter but, with a center of gravity that is gradually shifting to the United States, our gross margin continues to improve. Indeed it rose above 80% in the third quarter”, adds Denys SOURNAC.
The Group is reaffirming its objective of recording a significant operating profit and net profit over 2013, a sharp improvement compared with the previous year.
Next publication: 2013 annual sales: January 14, 2014, 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 105 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