Synthes-Stratec accelerated growth rate for the first quarter 2003
Oberdorf/Switzerland, April 24, 2003
Synthes-Stratec’s consolidated sales were $289.4 million for the first quarter, an increase of 18.1% versus the same quarter last year (16.6% in local currencies from continuing operations).
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| 1 | Local currency – 2003 results translated at 2002 foreign exchange rates. |
| 2 | Excluding the divested Prosthetics business. |
Synthes-Stratec grew in all business areas
The sales increase for trauma products was significantly higher than market growth fueled by the continued success of the Locking Compression Plate (LCP) and the Trochanteric Fixation Nail (TFN). The sales growth rate of Maxillofacial products also outpaced market growth, solidifying its dominant competitive position in North America. The Maxillofacial division’s growth was enhanced by the recently introduced low profile Neuro Fixation System and our latest development in bone cement “Norian CRS Fast Set Putty.” Our Spine products division experienced accelerating growth rates for the third consecutive quarter. The Spine business delivered strong growth and performed at market rates. The radiolucent PEEK-spacer system and dual opening USS were significant growth drivers for the Spine business.
Acquisition of Spine Solutions, Inc. closed
The acquisition of Spine Solutions, Inc, (SSI) announced on February 6, 2003 was closed on April 4, 2003. SSI is a developer and marketer of a revolutionary and unique total artificial disc system designed to significantly reduce spinal disorders and back pain and restore mobility to the lumbar and cervical spine after surgery. The company believes the global market potential for total disc replacement (spine arthroplasty) will grow to $3 billion by 2008.
Synthes-Stratec – A leading orthopaedic trauma and spine company
Synthes-Stratec is a leading provider of instruments, implants and power tools for the orthopaedic and spine surgery market. The company develops, manufactures, and distributes products for the surgical treatment of bone fractures, maxillofacial trauma or deformities, and a full range of products and systems for spine surgery.
For further information please contact
Peter Fehlmann, Investor Relations, Synthes-Stratec, Inc.
Phone: +41 61 965 63 39, Fax: +41 61 965 66 06, e-mail: ir.info@synthes.com