sientra — breast implants manufacturer @ 7.70–8.30
https://finance.yahoo.com/news/edited-transcript-sien-earnings-conference-010332710.html
Sientra’s third quarter results
record quarterly net sales of $22.4 million, which equates to year-on-year growth of 33%. The quarterly performance was driven by strong growth in our Breast Products segment and another record quarter for miraDry. Total Breast Products sales grew 47%, that’s 47% year-on-year third quarter of ’19 to $12.6 million.
Core breast implant and tissue expander sales have grown 35% year-to-date in an overall breast market that we estimate to be flat as clear evidence of our continued market share gains from our targeted new customer conversion programs as well as deeper penetration of existing accounts.
Our miraDry segment delivered another record quarter, achieving net sales of $9.8 million equating to year-on-year growth of 18%. Sales were well balanced across geographies as well as the mix between capital and consumables, with a record quarter in U.S. system placements and continued growth in bioTips utilization. MiraDry’s strong results reflect the scaling effect of the marketing initiatives we launched earlier this year as part of our No Sweat global campaign.
Turning to the breast implant operation — acquisition, I’m pleased to provide details behind today’s announcement that we’ve completed the acquisition of the dedicated Class III FDA-approved silicone breast implant manufacturing operation at Franklin, Wisconsin from Lubrizol Life Science. The strategic importance of this transaction cannot be overstated. Vertical integration of our Breast Implant business is a critical step in Sientra’s overall business model evolution and creates significant value for both plastic surgeons and shareholders. Having control of our product development and manufacturing is imperative for a Class III breast implant company given the complex competitive dynamics, product margin requirements and product development advantages to maintain the highest safety and quality standards of any of our competitors. Acquiring this established operation offers a turnkey transaction and an intelligent way to achieve our goal with the best mix of risk, reward, investment and speed. With this acquisition, Sientra is now positioned to leverage the global physician relationships already in place through our established miraDry installed base.
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