Medacta releases 2020 half-year financial results
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Despite decreases in revenue and gross profit compared with the same period in 2019, Medacta reported good backlog recovery in June, July and August in its 2020 half-year financial results, according to a press release.
Medacta reported its 2020 half-year revenue at 134.8 million euro, a 11.1% decrease from the prior year. The company also reported a gross profit of 93.9 million euro, an approximately 15.8% decrease from the first semester of 2019, according to the release.
“In these unprecedented times, Medacta was able to navigate the COVID-19 crisis, serving at its best health care professionals and patients, continuing innovating, protecting jobs, launching new key products and redesigning our marketing and medical education programs,” Francesco Siccardi, CEO of Medacta, said in the release. “Despite COVID-19 restrictions, education continued through redesigned online Marketing and Medical Education Programs, with over 1,800 surgeons attending our marketing initiatives and education programs. R&D activity continued as planned, with clearance on over 25 new products among our business lines. We are very proud of the way our employees were able to face this extraordinary situation and it is thanks to their engagement and commitment that we are highly encouraged on the execution of our long-term business strategy,” he added.
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