— Business review — Healthcare review
Healthcare review
First full year for the Drug Delivery market segment
Our Healthcare business area comprises the Dental, Drug Delivery and Surgery market segments, which produce and market a broad range of products, such as dispensers, cartridges, syringes, needles, mixers and tips for dental applications, syringes, and pen injectors for subcutaneous delivery of biomaterials and delivery devices for bone repair and tissue treatment.
Key figures
|
millions of CHF |
|
2021 |
|
2020 |
|
Change in +/–% |
|
+/–% adjusted 2) |
|
+/–% organic 3) |
|
Revenue Dental |
|
116.3 |
|
82.4 |
|
41.2 |
|
42.3 |
|
42.3 |
|
Revenue Drug Delivery |
|
40.8 |
|
7.4 |
|
452.6 |
|
450.6 |
|
38.5 |
|
Revenue Surgery |
|
12.6 |
|
14.5 |
|
–12.5 |
|
–12.5 |
|
–12.5 |
|
Total revenue Healthcare 1) |
|
169.8 |
|
104.3 |
|
62.9 |
|
63.7 |
|
34.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Business area cost of goods sold |
|
–66.6 |
|
–37.8 |
|
–76.0 |
|
|
|
|
|
Business area gross profit |
|
103.2 |
|
66.4 |
|
55.4 |
|
|
|
|
|
Business area gross profit margin |
|
60.8% |
|
63.7% |
|
|
|
|
|
|
1) Revenue from external customers.
2) Adjusted for currency effects.
3) Adjusted for acquisition and currency effects.
Revenue by market segment
2021
Strengthening our commercial presence and product portfolio in Dental
Revenue in our Dental market segment grew 42.3%, as we saw a strong resurgence in our markets after a highly depressed 2020. Despite continuing impacts from the pandemic, by the end of 2021 all markets except the US were close to pre-pandemic levels. The order backlog at the end of 2021 was at a historic high, indicating a strong year again in 2022.
Our Dental market segment offers innovative dental delivery solutions and value-added services with a view to providing an ideal user experience. Key to our growth ambition in Dental is our focus on product expansion, the development of new products for adjacent applications and the entry into new markets. Despite the continuing challenging context of COVID-19 restrictions, we made significant progress in 2021 in each of these areas.
We conducted numerous collaborative development and ideation meetings together with our customers. Encouraging results out of these projects are two signed and exciting co-creation projects, one in our core expertise of mixing. One other project, as part of our full solution provider initiative, is to offer a complete service solution including filling services.
Our product development pipeline has grown substantially, with the first impactful launches planned for Q4 2022. We strengthened our global commercial team significantly by establishing a new distribution channel in the BRIC countries. We expanded our local presence in North America and Japan.
In 2021, we laid the foundations to support our ambitious growth targets. We expanded our global commercial presence and developed high-quality product pipelines supporting commercial opportunities that will be the platform for future growth.
Drug Delivery registers strong growth in first full year
Revenue in our Drug Delivery market segment was CHF 40.8 million, growing organically by 38.5% and outpacing the market by far. We continued to deliver key milestones on our ambitious growth path, such as winning our first customers for our D-FlexTM pen injector platform.
Our Drug Delivery market segment specializes in the design and production of injection devices for subcutaneous application of drugs under the trademark Haselmeier. Our pharmaceutical customers use our products in various therapeutic areas, including fertility, diabetes, growth hormones, osteoporosis, metabolic disorders and rare diseases.
In 2021, we signed agreements with four customers for our new and award-winning product platform (D-FlexTM). Two contracts included pharmaceutical manufacturing in line with our extended services offering. We continued completing our product portfolio by filing patents for our autoinjector. The integration of Haselmeier into medmix was completed at the beginning of 2021, only six months after closing the acquisition. We continued to broaden our product portfolio by filing patents for our new autoinjector and started marketing it to our customers.
Impressive gains with tissue banks in Surgery
In 2021, our Surgery market segment delivered revenue of CHF 12.6 million despite a reduction in elective surgeries due to the pandemic. Overall revenue decreased due to a non-repeat project in 2020. Strong growth came from tissue bank customers, where revenue more than doubled from new customers and an increased share of wallet.
Our Surgery market segment is specialized in the design and production of surgical delivery devices of biomaterials for trauma, bone repair and tissue regeneration. In 2021, we extended our portfolio with our successful launch of the new Ergosyringe for dental and maxillofacial surgeries. We continued to focus on growing our business by collaborating with large original equipment manufacturer (OEM) customers on designing and developing tailormade solutions for managing their biomaterials.
Definition of alternative performance measures (APMs):
For the definition of the alternative performance measures, please refer to chapter alternative performance measures.