Corin Announces Earnings, New Distribution Agreement with MAKO
BY SANDER DUNCAN, MARCH 23, 2011
Corin announced earnings this morning, reporting 2010 revenues of £44.8 million (approximately US $73.3 million), up 6% year over year. Notably, the company’s hip division generated $32.1 million, up 1% over 2009, while knee was down 13% with $15.3 million in revenues.
Corin also announced a new 5-year distribution relationship with MAKO. Corin will manufacture a hip implant for MAKO’s robotic Rio system, and will be among other hip systems available for Rio. MAKO expects to release Corin’s implant system in the U.S. in 2H11. Corin has previous experience with similar distribution agreements - in 2005, the company joined with Stryker in a 10-year deal to distribute its hip resurfacing system in the U.S.
