Financial

MEDICREA Reports First Half 2020 Sales

July 9, 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, publishes sales for the first half of 2020.

(€ millions)H1 2019H1 2020VariationVariation
at Constant
Exchange Rate
USA
Rest of the world
Total Sales
8.7
7.4
16.1
7.6
5.6
13.2
-13%
-24%
-18%
-15%
-24%
-19%

Sales for the 2nd quarter amounted to €5.8 million, bringing the half-year total to €13.2 million, down 18% compared to the first half of 2019 due to the COVID-19 pandemic. The postponement of many elective surgeries since mid-March had a strong negative impact on activity over this period.

As soon as the containment measures and the mobilization of healthcare institutions in many countries were announced, MEDICREA® prepared for the worst-case scenario, which was planned to have no billings for the second quarter. Despite a very sharp drop in sales in April and May, representing the equivalent of (-25%) and (-66%) of a normative activity, respectively, June sales recovered strongly, totaling €3.2 million, up +3% compared to the same period last year, i.e. a sequential growth of +75% between May 2020 and June 2020.

In June, the Group’s three main markets performed well given the health context:

– In the United States, sales were up by +13% compared to June 2019, despite the continued strong spread of COVID-19 in many States;
– In Belgium, growth was +12% over the same period;
– Sales in France are gradually returning to normal, with some regions having regained good momentum while those most affected by the pandemic are still under limited activity.

The use of UNiD™ patient-specific rods planning and manufacturing services also shows a strong recovery with 144 UNiD® personalized surgeries having taken place in the United States in June, an increase of +33% compared to the same month of the previous year, and 5,850 surgeries performed cumulatively as of June 30, 2020 since the launch of this technology.

« We had planned for a difficult second quarter, but strategic management of the crisis along with the favorable evolution of the COVID-19 pandemic enabled us to resume business faster than expected while generating very strong activity across our various markets. Therefore, our sales recorded a clear rebound as of May 15. The strong sales generated in June 2020 for MEDICREA® demonstrated a positive sign to the potential end of this crisis. The current evolution of the health situation in the United States and in the southern hemisphere obliges us, to remain cautious as the catch-up effect that will inevitably occur is still anticipated for the second half of 2020 but could be delayed by a few months. » commented Denys Sournac, Founder, President and CEO of MEDICREA®.

On June 30, 2020, the cash position was €13.2 million.

The strategic discussions which had resumed in May after a period of interruption due to the spread of the COVID-19 epidemic, are continuing to be very active.

Next publication: 2020 Half-Year results: September 14, 2020 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 175 employees worldwide, which includes 35 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.

Connect with MEDICREA®
FACEBOOK INSTAGRAM TWITTER WEBSITE YOUTUBE

MEDICREA® is listed on
EURONEXT Growth Paris
EnterNext PEA PME 150 Index
ISIN: FR 0004178572
Ticker: ALMED
LEI: 969500BR1CPTYMTJBA37

MEDICREA® is traded on
OTCQX Best Market
Ticker: MRNTF

Contacts

MEDICREA®
Denys SOURNAC
Founder, Chairman and CEO
dsournac@medicrea.com

Fabrice KILFIGER
Chief Financial Officer
fkilfiger@medicrea.com
Tel: +33 (0)4 72 01 87 87

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Mike Adams

Mike Adams is a medical device sales leader with extensive clinical experience in spine and biologics and a nationwide distribution network built over the last 10+ years in the industry. He has held various leadership positions in healthcare and device including Distributor Partner, Hospital COO and Spine VP of Sales. He currently leads the commercialization strategy for OrthoSpine Partners and is a Distributor Principal at Novel Medical. Because of his unique career path, Mike has the ability to see the healthcare business from multiple perspectives making him passionate about building strategic partnerships that help reduce overall costs, drive innovation, and cultivate growth for new markets.

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