ZURICH, Oct 30 (Reuters) - Dental implant maker Straumann Holding raised its full year sales outlook on Tuesday, saying new products and its wider market presence would mean faster growth this year.
The Swiss company said it now expects full year sales to increase in the high-teen percentage range, up from its previous view of an increase in the mid-teens.
During the third quarter, Straumann’s sales increased by 18.1 percent, when adjusted for currency swings and acquisitions, to 307.5 million Swiss francs ($306.95 million), just short of the 311 million francs forecast in a Reuters poll.
Its growth was led by double digit increases in all geographies, with particularly strong improvements in North America and the Asia Pacific region.
During this year Straumann has increased its presence in many parts of the world, adding new subsidiaries in Peru, Argentina, Thailand and Singapore.
The company has also begun a pilot project in Britain, Germany and Italy with a portfolio of treatments that focus on the needs of doctors, while it has also increased its focus on cheaper dental implants, which are known as the third tier.
“In Q3 we expanded geographically and strengthened our foothold in the fast-growing third-tier implant segment,” said Marco Gadola, Chief Executive Officer.
“Equally importantly, we clearly demonstrated our ability to drive strong future growth in our core implant business through innovation and differentiated solutions that meet patient and customer needs.”
Straumann said it was confident it would outperform the broader dental implant market, which it expects to grow around 4 to 5 percent this year, and would gain market share.
$1 = 1.0018 Swiss francs Reporting by John Revill