Kinetic Concepts' international sales surge as U.S. revenue dips
This article was originally published in The Gray Sheet
Executive Summary
International sales helped Kinetic Concepts Inc. achieve a 3.3% revenue gain in the first quarter over last year - to $485.8 million (or just below 1% at constant currency), the firm reported April 27. The total includes nearly $109.6 million in international sales, up 9.5% (or 1.3% at constant currency). But North American sales in KCI's Active Healing Solutions division, the company's largest, dipped 2% to $249.8 million during the quarter. A slowdown in U.S. demand for the firm's market-leading V.A.C. negative pressure wound therapy system was a factor behind the decline, CEO Catherine Burzik said, fueled in part by competition and more people either uninsured or on Medicaid due to high unemployment. The firm plans to fuel growth in part with a continued focus on Asian markets and new product launches, such as the next-generation V.A.C. Via, cleared by FDA in March. KCI's Regenerative Medicine division was one domestic bright spot, with U.S. sales of $78 million, up 18%. Globally, the latter division had revenue of $79 million, up 19.3%
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