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Company Financials: Orthopaedics and Spine

aap Implantate
€6.9MM (~US $9.4MM), -4%

  • Commenced international launch of LOQTEQ trauma products
  • Signed 2 new contracts for biomaterials with customers in Brazil and Israel

Alphatec Spine (pro forma)
$47.6MM, +3% (U.S. $32.7MM, +9%; ex-U.S. $14.9MM, -8%)

  • Greater than expected slowdown in procedure volume
  • U.S. pricing stable for past 2 quarters, low single-digit decline year over year
  • Growth propelled by launch of Illico MIS system in Japan
  • Relaunched Solus ALIF to 20 U.S. and 5 ex-U.S. beta sites (See ORTHOKNOW, 8/11.); full release slated for 1Q12
  • PureGen allograft now implanted in >1,000 patients, no adverse events
  • Negotiating with FDA to accept patients treated with OsseoFix under original protocol as completion of feasibility study
  • 4Q product launches include Discocerv ex-U.S., as well as products in Australia and Russia
  • Added 10 distributors, 2 direct sales reps

Anika Therapeutics
Orthobiologics $10.3MM, +35% (U.S. +28%, ex-U.S. +55%)
Ÿ ORTHOVISC U.S. +28%, ex-U.S. +72%
Ÿ MONOVISC ex-U.S. +3%

  • Resolved 2Q ex-U.S. backorder issue with ORTHOVISC
  • Added distributors in EU for Hyalograft C, Hyalofast cartilage regeneration
  • Will submit data for CE Mark approval of CIGNAL by end of 2011
  • No update on FDA clearance of MONOVISC

ArthroCare
$54.5MM, -10%
Ÿ Sports Medicine $52.1MM, -9%
Ÿ Other [includes spine] $2.4MM, -17%

  • U.S. sports med procedure volumes remained weak
  • Active U.S. sports med customers declined slightly
  • ~1% increase in sports med average selling price (ASP)
  • Ambient products >25% of U.S. sports med Coblation sales
  • Ambient Advantage promo intends to migrate existing customers to Ambient platform, capture competitive accounts
  • Ambient-equipped HipVac Coblation Wand fully launched globally
  • Received FDA clearance for SpeedLock PEEK knotless anchor

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