"We will continue to race towards the highest performance in the fourt=h quarter."
Curexo achieved this year's business goal for medical robot sales earlier than expected.
By October of this year, Curexo has supplied a total of twenty-seven medical robots, including eighteen units of Cubis-Joint (an artificial joint surgery robot), four units of Cubis-Spine (a spinal surgery robot), three units of Morning Walk S200 (a walking rehabilitation robot), and two units of Inmotion (an upper extremity rehabilitation robot.)
As of July, the supply contract for the surgical robots nearly doubled – from 14 units to 27 units - in three months.
According to Curexo, the artificial joint surgical robot 'Cubis-Joint' played a central role in making supply contracts with artificial joint implant companies, such as Implant Cast, Corentec, and Cellumed. With the open platform function, Cubis-Joint can be utilized in numerous fields of implants.
Based on these advantages, Curexo expects to further expand the market share of Cubis-Joint through joint marketing with many other implant companies.
Moreover, with the spinal surgery robot' Cubis-Spine,’ which has also been supplied to two US spine implant companies, Curexo is preparing for its localization such as Cadeva clinical procedures.
Curexo stated, "Currently, marketing of Cubis-Spine is in progress through American companies. And in Korea, having installed at Pusan National University Hospital in Yangsan, it successfully performed several operations."
Curexo CEO Jaejoon Lee said, "I am thrilled to achieve the medical robot business goal early. It was possible through the efforts of our executives and employees, despite the challenging external conditions such as intensified social distancing policy due to the Covid-19 delta virus and supply disruptions of imported parts.". "As the external conditions are being resolved step by step, we anticipate improving profitability along with sales growth."
In the fourth quarter, we will strive to reach the highest performance since our establishment."
On the other hand, a Curexo official clarified that the critical factors behind the sluggish Q3 sales include
- the sales recognition delay of 4 medical robots from September to October,
- low seasonality of the implant distribution business in the third quarter,
- the decrease in the number of artificial joint surgeries due to the strengthening of social distancing steps.
Also, he added that the lower profitability is due to
- the increase in the unit price of major imported parts followed by disruptions in the global supply chain,
- the increase in logistics costs,
- the decrease in sales in the high-margin implant distribution business.
However, a Curexo official remarked, "The revenue of medical robot sales in the third quarter will be recognized in the fourth quarter. Moreover, we expect meaningful growth and profitability in the fourth quarter, based on cost reduction promotion, the import-parts supply chain resolution, and expected sales growth due to the recovery of the number of artificial joint surgeries.
