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Company Financials: Orthopaedics and Spine

Biomet (for fiscal 3Q13 ended 2/28/13)
$771.5MM, +9% (U.S. $472.9MM, +9%; Europe $184.7MM, +4%; International $113.9MM, +20%)
Reconstructive $423.9MM, +1% (U.S. +1%)

  • Hips +1% (U.S. +1%)
  • Knees +1% (U.S. +1%)
  • Bone Cement/Other -1% (U.S. +2%)

Sports Med/Extremities/Trauma (S.E.T.) $161.4MM, +73% (U.S. +62%)

  • Sports Med +3% (U.S. -5%)
  • Extremities +19% (U.S. +26%)
  • Trauma +296% (U.S. +291%)

Spine/Bone Healing $72.1MM, -4% (U.S. -6%)

  • Spine -1% (U.S. -3%)
  • Bone Healing -13% (U.S. -13%)

Other $49.7MM, -4% (U.S. -1%)
Growth includes acquisition and dental.

Excluding acquisition:
Overall growth +1% (U.S. +2%, Europe -5%, International +7%)
S.E.T. +9% (U.S. +11%); Trauma flat (U.S. +8%)

  • Commenced limited clinical evaluation of multibearing G7 Acetabular Cup
  • Launched Signature knee in India and Japan
  • Expanded Oxford knee DTC campaign featuring lifetime warranty program to more U.S. markets
  • Launched JuggerKnot Long anchor, primarily indicated for hip labral repair
  • “Remarkable” growth from Comprehensive Shoulder System


ConMed
$480.5MM, +10% (MTF partnership revenue $28MM)

  • Arthroscopy $330.5MM, +14%
  • Powered Surgical Instruments $150.0MM, +1%


Exactech
$224.3MM, +9% (U.S. $145.6MM, +9%; ex-U.S. $78.7MM, +9%)

  • Hips $40.8MM, +21%
  • Knees $81.4MM, +2%
  • Biologic & Spine $24.5MM, +1%
  • Extremity $52.1MM, +30%
  • Other $25.6MM, +6%

4Q12 revenue: $59.3MM, +12% (U.S. $38.3MM, +13%; ex-U.S. $21.0MM, +12%)

  • Hips $10.4MM, +12%
  • Knees $20.7MM, +3%
  • Biologic & Spine $6.4MM, +9%
  • Extremity $14.9MM, +35%
  • Other $6.9MM, +3%
  • Strong hip/knee performance in Asia; strong hip, knee, shoulder growth in Latin America
  • 2013 product launches include CR Constrained tibial insert, limited launch of neck-preserving stem (2Q), computer-assisted knee surgical system (2H13)


Globus Medical
$386.0MM, +16% (U.S. $355.6MM, +14%; ex-U.S. $30.4MM, +49%)

  • Fusion $238.7MM, +6%
  • Disruptive Technology $147.3MM, +38%

4Q12 revenue: $100.5MM, +14% (U.S. $91.9MM, +13%; ex-U.S. $8.6MM, +37%)

  • Fusion $58.2MM, +3%
  • Disruptive Technology $42.4MM, +35%
  • Key product launches include Secure-C, AFFIRM Kyphoplasty, RISE expandable lumbar fusion device inserted via endoscopic tube, SI-LOK sacroiliac fusion system, FORTIFY expandable titanium/PEEK corpectomy spacer, etc.


Greatbatch Medical
$122.0MM, -8%
4Q12 revenue: $30.9MM, -2% flat

  • Stronger implant revenue offset decline in instrument sales due to transition of Swiss facility
  • Successfully completed key customer supplier certification audits, reached resolution on Zimmer lawsuit
  • Ceased Swiss manufacturing of reamers 1/31/13
  • Fort Wayne facility validation process on track (straight reamer handles on track for shipment, offset reamer handles and impactors undergoing process validation)


Integra LifeSciences
$369.3MM, +12% (U.S. $312.8MM, +15%; ex-U.S. $56.4MM, -1%)

  • U.S. Extremities $122.8MM, +25%
  • U.S. Spine & Other $190.5MM, +9%

4Q12 revenue: $93.2MM, +4% (U.S. $78.9MM, +6%; ex-U.S. $14.3MM, -6%)

  • U.S. Extremities $31.2MM, +9%
  • U.S. Spine & Other $47.7MM, +5%
    Extremities includes wound and skin products.
  • Spine hardware growth driven by new products: Malibu MIS and Daytona for deformity correction
  • Completed “small product line acquisition” in extremities in 1Q13, will formally launch modular shoulder with reversed option later in 2013 (to complement regenerative portfolio)


LISI Medical
€64.8MM (~US $86.7MM), -12%

  • Noted that business should become consolidated in 2013 with several project launches, focus on customers and segments that offer middle- and long-term growth


MAKO Surgical
$102.7MM, +22%

  • Procedures $50.9MM, +47%
  • Systems $41.2MM, -6%
  • Service $10.5MM, +78%
  • RIO systems sold worldwide (41 U.S., 4 ex- U.S.)
  • 47 MAKOplasty Total Hip Arthroplasty applications sold, -4%; >1,200 procedures performed
  • 3rd version of hip software slated for 2013 launch

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