Medartis Holding AG
MED
ISIN CH0386200239 / Valor 38620023
Medartis Holding AG
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About company
Medartis Holding AG is a Swiss medical‑device company that develops, manufactures and sells internal fixation implants, instruments and surgical systems for orthopaedic and trauma applications, with particular emphasis on fixation of small and medium bones such as those of the hand, wrist, foot/ankle and cranio‑maxillofacial areas. Its product range includes titanium and stainless‑steel plates, screws, locking systems and complementary surgical instruments, which it supplies to hospitals and surgeons through a network of subsidiaries and distributors across multiple regions; the business model is driven by product sales, aftermarket instrumentation and incremental R&D and regulatory work to broaden its clinical portfolio. As a publicly listed specialist in the orthopaedic-trauma segment, Medartis competes on product engineering, clinical support and targeted market coverage rather than on broad hospital consumable lines.
Summarized from source with an LLMView SourceSector: HealthcareLatest Results (23.01.2026):
Medartis Holding AG — Half-year (H1) 2025: The group reported total sales of CHF 123.0 million with strong organic revenue growth of +15.3% at constant exchange rates. Core EBITDA margin was 17.8% and core gross margin softened to 80.7% (mainly from FX, US tariffs and product mix). Cash and liquid resources stood at CHF 120.5 million at 30 June 2025. Management raised its FY‑2025 organic sales guidance to +14–16% CER while maintaining an unchanged high‑teens core EBITDA margin outlook. The period included the integration of NeoOrtho (three months consolidated) and preparatory payments/steps for the KeriMedical acquisition; net result was pressured by unrealised FX losses and higher financing costs.
Sales & growth
Total sales CHF 123.0m; organic revenue growth +15.3% (CER). All regions returned to growth with US and EMEA the biggest contributors. NeoOrtho was integrated (sales included from May) and contributed to the top‑line.
Profitability
Core EBITDA margin sustained at 17.8%. Core gross margin was 80.7%, about 2.1 percentage points softer year‑on‑year due mainly to adverse FX, US tariffs and product mix effects; at constant exchange rates core EBITDA rose by ~1.4 pp.
Cash, M&A and investments
Cash balance CHF 120.5m at 30 June 2025. Net cash outflow tied to the NeoOrtho acquisition was ~CHF 14.2m in May; initial KeriMedical payments were made with remaining cash outflows expected in H2. Company retains undrawn credit lines to support growth and cash flexibility.
Guidance
Management raised FY‑2025 organic sales guidance to +14–16% (CER) and left the core EBITDA margin guidance at the high‑teens range.
FX, US tariffs and mitigation
H1 tariff impact in the US reduced gross margin by ~0.5 pp (tariffs introduced April); overall FX and tariff effects each reduced margins by ~0.5 pp in H1. Medartis is ramping US production to target ~60% of US volume by end‑2026 and ~80% by mid‑2027, plus price reviews and cost efficiencies to mitigate future tariff/Fx headwinds.
Net result and cash flow
Net result was negatively impacted by mainly unrealised FX losses (around CHF 5m) and additional financing costs from prior convertible financing; operating cash flow remained stable and working‑capital improvements were reported.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1585 M
Market cap (USD)
4,802
Daily traded volume (Shares)
59.6 / 51.2
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Ratings & reviews
Peter Jürg Burkard
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