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OssDsign is undertaking a strategic shift to focus operations on its orthobiologics business in the U.S.
The company will focus on its nanosynthetic bone graft OssDsign Catalyst, an off-the-shelf product characterized by high scalability. All activities pertaining to the company’s OssDsign Cranial PSI patient-specific cranial implant business will be discontinued by the end of 2023. Based on the revised strategy, OssDsign’s financial target is to reach sales of SEK 150 million to 200 million in the medium-term, at which point the company also expects to become cash flow positive.
OssDsign Catalyst stimulates the formation of healthy bone tissue in spinal fusion surgeries. The product was launched in the U.S. in 2021.
Recently, the company announced that OssDsign Catalyst has received FDA clearance for use in interbody cages in spinal surgery.
During the last two years, the U.S. has become OssDsign’s most important market, comprising ~72% of global sales as in 2Q23, a significant increase from ~37% in 2020. Two years after its launch, OssDsign Catalyst sales in the U.S. alone now exceed the global sales of OssDsign Cranial PSI. In the first six months of 2023, sales of OssDsign Catalyst grew by 453% compared to the corresponding period last year.
“The outstanding commercial performance of our nanosynthetic bone graft OssDsign Catalyst and the recently announced interbody clearance by the FDA establishes OssDsign Catalyst in the exceptional class of synthetic bone grafts and showcases that the potential of the orthobiologics business is of a magnitude which deserves our full focus. The successful entry into the orthobiologics space has transformed the company’s revenue growth and increased gross margins by 30 percentage points in less than three years. There is no doubt that the decision to deploy all resources to the orthobiologics business will boost the company’s earnings capability and at the same time significantly reduce the need for additional capital injections ahead of reaching cash flow positivity,” commented Morten Henneveld, CEO of OssDsign.
Source: OssDsign
OssDsign is undertaking a strategic shift to focus operations on its orthobiologics business in the U.S.
The company will focus on its nanosynthetic bone graft OssDsign Catalyst, an off-the-shelf product characterized by high scalability. All activities pertaining to the company’s OssDsign Cranial PSI patient-specific cranial implant business...
OssDsign is undertaking a strategic shift to focus operations on its orthobiologics business in the U.S.
The company will focus on its nanosynthetic bone graft OssDsign Catalyst, an off-the-shelf product characterized by high scalability. All activities pertaining to the company’s OssDsign Cranial PSI patient-specific cranial implant business will be discontinued by the end of 2023. Based on the revised strategy, OssDsign’s financial target is to reach sales of SEK 150 million to 200 million in the medium-term, at which point the company also expects to become cash flow positive.
OssDsign Catalyst stimulates the formation of healthy bone tissue in spinal fusion surgeries. The product was launched in the U.S. in 2021.
Recently, the company announced that OssDsign Catalyst has received FDA clearance for use in interbody cages in spinal surgery.
During the last two years, the U.S. has become OssDsign’s most important market, comprising ~72% of global sales as in 2Q23, a significant increase from ~37% in 2020. Two years after its launch, OssDsign Catalyst sales in the U.S. alone now exceed the global sales of OssDsign Cranial PSI. In the first six months of 2023, sales of OssDsign Catalyst grew by 453% compared to the corresponding period last year.
“The outstanding commercial performance of our nanosynthetic bone graft OssDsign Catalyst and the recently announced interbody clearance by the FDA establishes OssDsign Catalyst in the exceptional class of synthetic bone grafts and showcases that the potential of the orthobiologics business is of a magnitude which deserves our full focus. The successful entry into the orthobiologics space has transformed the company’s revenue growth and increased gross margins by 30 percentage points in less than three years. There is no doubt that the decision to deploy all resources to the orthobiologics business will boost the company’s earnings capability and at the same time significantly reduce the need for additional capital injections ahead of reaching cash flow positivity,” commented Morten Henneveld, CEO of OssDsign.
Source: OssDsign
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Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
