MAKO Surgical Corp.
MAKO, a medical device company that markets its RIO® Robotic Arm
Interactive Orthopedic surgical platform, MAKOplasty® joint specific
applications, and proprietary RESTORIS® implants that together enable
orthopedic surgeons to consistently, reproducibly and precisely treat patient
specific osteoarthritic disease, today announced its selected operating
results for the fourth quarter and the year ended December 31, 2012 in
anticipation of its business update presentation at the 31^st Annual J.P.
Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco
on Wednesday, January 9, 2013 at 7:30 am PT.
MAKO will provide a live webcast of the business update presentation.
Interested parties may access the live webcast by visiting the investor
relations section of MAKO's web site at www.makosurgical.com. A replay of the
webcast will be available on the MAKO website after the live presentation.
2012 Fourth Quarter and Full Year Review
RIO Systems – Fifteen RIO systems were sold during the fourth quarter, of
which thirteen were sold to domestic customers and two were sold through
international distributors to hospitals in Italy and Thailand. The revenue
associated with the two RIO systems sold to and customer accepted by the
international distributors will be deferred until all revenue recognition
criteria are satisfied. A total of 45 new RIO systems were sold worldwide in
2012, bringing MAKO's worldwide commercial installed base of RIO systems to
156 systems and domestic commercial installed base of RIO systems to 151
systems as of December 31, 2012.
MAKOplasty Procedure Volume – During the fourth quarter, 2,904 MAKOplasty
procedures were performed, of which 2,756 were performed at domestic sites and
395 were Total Hip Arthroplasty (THA) procedures. The 2,904 MAKOplasty
procedures performed represent a 20% increase over the procedures performed in
the third quarter of 2012 and a 29% increase over the procedures performed in
the fourth quarter of 2011. The 395 THA procedures performed represent a 31%
increase over the THA procedures performed in the third quarter of 2012. The
average monthly utilization per system was 6.6 procedures during the fourth
quarter of 2012, an increase from 6.2 procedures per system per month in the
third quarter of 2012. A total of 10,204 MAKOplasty procedures were performed
in 2012, representing a 47% increase over the total procedures performed in
2011. Through December 31, 2012, approximately 23,000 procedures have been
performed since the first procedure in June 2006.
MAKOplasty Total Hip Arthroplasty – In the fourth quarter, eleven MAKOplasty
THA applications were sold, eight of which were sold with the RIO systems
sales during the quarter and three of which were sold as upgrades to existing
customers with knee-only commercial systems. As of December 31, 2012, 96 RIO
systems, or 62% of the worldwide commercial installed base, are MAKOplasty THA
enabled.
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