Healthcare review

Strong growth in Dental driving Healthcare segment

Our Healthcare segment comprises the Dental, Drug Delivery and Surgery business units, which produce and market a broad range of products such as dispensers, cartridges, mixers, tips, syringes, pen and auto injectors for subcutaneous delivery of drugs, as well as delivery devices and mixing for bone repair and tissue treatment. These devices are used in a variety of applications by our end-customers. In the Dental business unit, our products are used for prosthetics, restoratives, anesthetics and aesthetics as well as specialties that cover endo and perio.  The pen and auto injectors produced and marketed by our Drug Delivery business unit are used in fertility and growth hormone treatments, and to deliver medical substances for the treatment of diabetes, osteoporosis and other diseases. The delivery and mixing devices produced and marketed by our Surgery business unit are used by tissue banks and medical device OEMs to store, mix and/or deliver biomaterials for a variety of applications including  bone repair, wound healing, hemostasis and surgical sealant applications.

Segment revenue and gross profit

Dental –  Robust growth after destocking

The Dental business unit generated revenues of CHF 115.6 million, an organic increase of 9.6% compared with the same period last year. After the end of destocking, volumes picked up in most regions worldwide.

In 2024, medmix proudly introduced new dental mixing tips and cartridges certified by the International Sustainability and Carbon Certification (ISCC). These solutions meet the highest quality standards and are environmentally friendly.

The Dental business unit has a full pipeline of innovative solutions that will ensure it keeps its strong market position. While the impression product category will remain a stable profit contributor in the near future, medmix has strategically increased its exposure to faster-growing product categories like cementation and restoration.

Our Dental business unit delivered a strong performance in 2024, gaining market share. We have a full pipeline of innovative solutions that will ensure it keeps its strong market position.

Industrializing medmix’ Drug Delivery product offering

The Drug Delivery business unit generated a revenue of CHF 43.4 million, which corresponds to an organic decrease of 17.5% compared to the prior year. This shortfall was mainly due to the increase in allocation of production to one customer’s second source. There will be a further impact on 2025 revenues.

In medmix’ Drug Delivery business unit, in addition to its existing devices in the market, the company has two next-generation device-platforms  – PiccoJect and D-Flex. Both are at the beginning of their lifecycles and have received a positive response from customers and prospects. D-Flex has been in the market with the launch customer in Europe since the end of 2023.

The first PiccoJect auto injectors for clinical use will be produced in 2025, with commercial launch-readiness beginning of 2026.

Surgery - Growing organically

Revenue in our Surgery business unit grew organically by 3.4% year-on-year to CHF 17.7 million. The increase in revenue was primarily driven by new customer orders and new customer market approvals more than compensating for some overstocking of OEMs in the prior year.

In 2024, medmix has completed the first phase of the ramp-up of the Atlanta site, which now produces one range of fully validated surgery products. With this new facility, medmix has increased customer proximity in the world’s largest healthcare market. This enables the company to build a full portfolio of value-adding services and to become a strategic partner for customers. Furthermore, manufacturing that was previously outsourced, is being insourced to increase value creation as well as service levels.

Definition of alternative performance measures (APMs)

For the definition of the alternative performance measures, please refer to the chapter alternative performance measures.