Jason Lin, Chairman of United Orthopedic, expressed confidence in the sustained strength of the company’s core direct-operated markets. With promising performance expected from the UK in Europe, high growth in Japan’s established market, and the upcoming shipment of co-branded products with Kyocera in May, the company anticipates a stronger growth trajectory than in the past two years. Additionally, the benefits from China’s centralized procurement are expected to amplify further. The company reported a 21.7% year-on-year revenue growth in the first quarter, with steady upward momentum across markets, aiming to achieve a 20% increase in annual revenue.
Lin noted that United Orthopedic’s products are sold in around 50 countries, but over 80% of its total revenue still comes from its direct subsidiaries. Currently, the company operates nine wholly owned subsidiaries worldwide, with key contributors being Taiwan, France, the United States, and Japan. These regions generated approximately NT$1 billion, NT$1 billion, NT$800 million, and NT$260 million in revenue respectively in 2024, accounting for around 70% of the total revenue. In contrast, sales through agents and distributors contributed just over 10%.
As for the markets to watch in 2025, Lin pointed out that the company has subsidiaries in both Belgium and the UK, and expects standout performance from the UK this year. Japan, which has seen annual growth of around 40% for the past two years, will begin sales of United’s femoral stem products through a private-label partnership with Kyocera, Japan’s fourth-largest joint replacement manufacturer. These products will be labeled “Made by United Health” and are set to begin shipping in May. This collaboration is expected to boost brand visibility and market recognition, potentially leading to even higher growth in the Japanese market this year compared to previous years.
United Orthopedic has also recently obtained product sales certification in Russia. Given the size of the Russian market and its tendency to avoid U.S. imports, this presents a new opportunity for the company. Meanwhile, United is actively expanding into the Egyptian market, with the first shipment already exceeding USD 1 million in order value, indicating strong market potential.
In the first quarter, United posted a 21.7% year-on-year revenue increase. The EMEA region (Europe, Middle East, and Africa) saw a 34% revenue jump, raising its contribution from 36% to 39% of total revenue, with France remaining the largest market in Europe. Lin expressed continued optimism for the remaining ten months of the year and expects the company to maintain an overall annual growth rate of approximately 20%.
Resource: 聯合與京瓷合作產品5月出貨，主力市場續航，2025年營收拚增兩成
