Business Overview 2006 - Synthes

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Business Reports. Latin America, Middle East and Africa The market in Latin American, the Middle East and Africa is steadily growing as fractures are increasingly treated with operative methods. Synthes’ operations in these regions reflect this upward trend: the number of Latin American subsidiaries was further increased and distributors expanded their sales forces in Middle East and Africa. Titanium Elastic Nails 14
Synthes. Annual Report 2006 Business Report. Latin America, Middle East and Africa During 2006, Latin America contributed the strongest growth performance in the company, with a local currency growth rate in the high twenties that was further supported by a foreign exchange gain. The Latin American business accounted for more than 3.4% of overall corporate revenues, compared to approximately 3.0% in 2005. A new subsidiary in Costa Rica Synthes owns subsidiaries in Argentina, Brazil, Colombia, Mexico, and Peru, and added a sixth subsidiary by acquiring the existing distributor in Costa Rica in late 2006. Operations were strengthened with the establishment of additional Synthes offices in various cities in Brazil, Mexico and Peru. The fact that Brazil and Colombia alone accounted for more than 50% of all revenues in Latin America indicates that this region still has great potential for future growth. sections “AO Middle East” and “AOSpine Middle East” will help to enforce our leadership in Trauma and further improve our market position in the Spine and Cranio-maxillofacial segments. Indeed, the performance of the two latter businesses was very positive in 2006; they were the main contributors to the double-digit growth rate in the region. Expanded sales forces in MEA hold competition at bay We further expanded our sales force in South Africa, the only directly served country in the region, and successfully encouraged our distributors in all other countries to increase the number of dedicated sales personnel as well. Due to this strong presence our high quality products and service strategy prevailed over numerous local and international competitors. The Locking Compression Plate (LCP) system remains the main growth contributor for the Trauma business and most LCP product lines are now available throughout the region. Many new LCP specialty plates such as the Distal Femur Plate and the Compact Hand System were introduced in 2006. In Spine, PEEK cages and biomaterials contributed most significantly to growth. Our Cranio-maxillofacial business established new fields of application, particularly in the neuro market with the Patient Specific Implants and our unique VEPTR system, offering customers unprecedented solutions. During 2006 we substantially increased the penetration of LCP in MEA. In Spine we experienced a high growth impact from the Universal Spine System (USS II) and the pedicle screw system Click’X. Finally, we were able to make customers aware that Synthes is also a significant player in the Cranio-maxillofacial market, where we doubled our sales in 2006 and started to promote the latest product systems which up to now have only been available in highly developed markets. Training as an important pillar of success World-class training provided by Synthes and strong cooperation with the regional AO organization are crucial for sustainable success. This is true for all markets, but in Latin America, education and training play an even greater role as more and more fractures are treated surgically. Synthes has created a new training structure by increasing the number of dedicated trainers to continually improve the specialized knowledge of a continually growing sales force. For surgeons and ORpersonnel, AO Latin America continues to offer an increasing number of AO courses in all specialties. Important AO activities in Middle East and Africa As in Latin America, in the Middle East and Africa (MEA) the most effective path to sustainable success is through consistent and medically aligned education. In 2006 Synthes continued to give high priority to the strengthening of its training and educational efforts in the region. Synthes is particularly grateful for the efforts of the AO Foundation in establishing regional organizations in MEA for Trauma and Spine and supports the AO’s endeavors in every way possible. The new AO 15
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