Fourth quarter and full year sales results 2004
Solothurn/Switzerland, January 20, 2005Synthes sales grew by 46.3% and 44.8% respectively for the fourth quarter and full year 2004 versus prior year results. Pro forma for the acquisition of Mathys’ Osteosynthesis business, exclusive of the Mathys’ German subsidiary which was not acquired, and as though the acquisition had occurred on January 1, 2003, sales for the fourth quarter and full year grew by 19.2% and 20.7% respectively.
Synthes consolidated sales were $469.4 million for the fourth quarter of 2004 and $1,779.3 million for the twelve month period. Foreign exchange positively impacted sales growth by 3.9% and 4.0% for the fourth quarter and calendar year, respectively ( 3.2% and 3.4% for the fourth quarter and calendar year pro forma sales, respectively).
Key Figures (unaudited)
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Strong growth in all segments driven by new products
The sales increase for trauma products was fueled primarily by the continued strong sales of the Locking Compression Plate (LCP) plate and screw system, and the Trochanteric Fixation Nail (TFN).
The strong growth of the Spine division was mainly driven by continued market acceptance of several new products. In particular sales of products for the cervical spine continue to experience above average growth due to continued demand for the top loading Axon system. Additionally, the Anterior Tension Band system used to stabilize the lumbar spine continues to be increasingly adopted by surgeons.
Cranio-maxillofacial (CMF) division’s growth was driven by strong sales in neurosurgical reconstruction products, especially the new Patient Specific Implant offering, and in the new External Midface Distractor were highlights of the quarter.
Synthes added to the Swiss Market Index (SMI)
Effective October 1, 2004, Synthes was included for the first time in the Swiss Market Index (SMI). Synthes shares are now traded on virt-x, the SWX's blue chip trading platform in London.
Michel Orsinger appointed Chief Operating Officer for Synthes, Inc.
Synthes, Inc. announced on October 14, 2004 that Mr. Michel Orsinger has been appointed Chief Operating Officer of Synthes, Inc. Mr. Orsinger reports directly to Mr. Hansjörg Wyss, Chairman of the Board of Directors and Chief Executive Officer of the company. Mr. Orsinger brings to Synthes an extensive background and a great deal of global experience in the healthcare industry, having most recently spent ten years with Novartis in various top management positions.
Synthes: A leading orthopedic trauma company
Synthes is a leading global provider of instruments, implants and power tools for the orthopedic trauma market. The company, which competes throughout the world, develops, manufactures, and distributes products for the surgical treatment of bone fractures, cranio-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, Inc.
Phone: +41 32 720 48 10 , Fax: +41 32 720 48 11
e-mail: ir.info@synthes.com