Medicrea cuts costs, prepares for Q3 'catch up' period when spine surgeries resume

Alan Condon -   Print  |

Medicrea, a spinal device company with offices in Lyon, France, and New York City, is significantly decreasing overheads to push through this challenging financial period due to the spread of the novel coronavirus.

Four things to know:

1. Medicrea postponed orders and deliveries to the third quarter and landlords for the company's Lyon, and New York City offices have agreed to delay rent for the coming months.

2. The company has cut most expenses to navigate the second quarter and expects to benefit from a "catch-up effect" at the end of the COVID-19 pandemic as patients reschedule spine surgeries.

3. Medicrea has 180 employees, 40 of which work in the U.S.

4. A pending transaction the company has been working to finalize has been suspended until the second half of 2020.

If you are a spine surgeon or orthopedic industry representative and wish to share your experiences or thoughts on this matter, please contact Alan Condon at acondon@beckershealthcare.com.

More articles on devices:
NuVasive recalls Magec system for scoliosis, advises surgeons to perform clinical follow-ups
Zimmer Biomet asks European hospitals to remove orthopedic spacer molds
Resurgens Orthopaedics postpones elective surgeries, remains open for urgent care

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