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Embla Medical reported its highest ever quarterly sales of USD 217 million in Q2 2024, with 6% organic growth. The company's EBITDA was USD 47 million with a 22% EBITDA margin. Strong performance was noted in Prosthetics & Neuro Orthotics and Patient Care, particularly in EMEA. Medicare in the US finalized a proposal granting active K2 patients access to prosthetic knees, effective September 1, 2024. Embla launched two new bionic knee products: NAVii® by Össur and Icon® by College Park. The company narrowed its full-year guidance to 6-8% organic sales growth and ~20% EBITDA margin before special items. Embla also announced plans to unite its Patient Care facilities under a new brand, ForMotion™.
Embla Medical (Nasdaq Copenhagen: EMBLA) announced that the Centers for Medicare & Medicaid Services has expanded access to high activity K3 knees for active K2 lower-limb amputees in the United States. This decision, effective September 1, 2024, allows a large patient group to access bionic knee technology, previously restricted to K3 and K4 functional level amputees.
The policy change follows extensive research showing that advanced prosthetic devices lead to significant clinical benefits for active K2 amputees, including reduced fall rates and improved mobility. To qualify, healthcare professionals must document that a bionic knee would improve the patient's functional health outcomes. The coverage may also include access to compatible high active K3 foot solutions.
Embla Medical's CEO, Sveinn Sölvason, welcomed the decision, stating it will greatly improve the lives of active K2 lower-limb amputees, helping them become more independent in daily activities.
