Osteopore delivers three straight quarters of growth in record financial performance
Health & Biotech
Health & Biotech
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Aussie-listed med-tech Osteopore (ASX:OSX), just dropped the best quarterly result in the company’s history.
The Singapore-based global leader in the innovation and creation of life-changing regenerative implants – making them on a commercial scale – has released its quarterlies for the three-months ending 30 Jun, a period which has seen Osteopore’s highest ever quarterly revenue.
Let’s get straight into it.
This result was Osteopore’s third consecutive quarter of revenue growth and in the face of a resurgent COVID-19 continuing to upend global healthcare systems.
This sequential growth and rebound in revenue indicates both strong adoption and increasing surgeries at hospitals for the unique technology which empowers and inspires a patient’s natural tissue regeneration.
Osteopore Executive Chairman, Mark Leong said that as the pandemic resides in key markets, OSX has pushed ahead despite \a backlog of disrupted elective surgeries.
Medical trade shows have reverted back to “in-person”, which is also helping Osteopore engage with healthcare decision makers
Leong added that today’s result is testament to the team’s hard work and dedication in scaling the business.
“While we still have a long way to go, Osteopore has ambitions to become the most valuable regenerative medical device company in the world.
“We have proven, superior bone regeneration technology, and believe our implants will become the standard of care globally for natural tissue regeneration,” Leong added.
The lifting of COVID-restrictions across key markets during the quarter also allowed OSX to be on-ground in both the US and EU, to support current distributors and sign-up new partners.
“We have a laser focus to drive further commercialisation and revenue generation through a renewed focus on key markets and exploring inorganic opportunities to scale up.”
Osteopore has kept a tight focus on achieving key strategic targets during the first half of the calendar year.
At home OSX entered the Oral & Maxillofacial (OMF) markets in Australia and New Zealand, with the landmark, exclusive three-year Distribution Agreement with MAXONIQ.
Looking further abroad, the company continued its successful expansion into additional markets, with first shipments achieved in the critical and potentially highly lucrative key markets of Columbia, Spain and South Africa.
A Collaboration Agreement with Livingstone Health Holding Limited (“Livingstone Health”), will see both companies jointly develop new applications and products for regenerating bone and tissue.
OSX says the commercial outlook is highly- encouraging as Osteopore pushes ahead on further commercialisation and revenue generation by focusing on key markets and inorganic opportunities.
OSX will continue to grow its global footprint and develop a complementary pipeline of new products for additional bone regeneration applications.
With regulatory clearances and distribution partners secured across major markets, OSX says it is rapidly moving towards growing its footprint across more regions where immediate commercial opportunities exist.
A complementary pipeline of new products is also being developed for additional bone regeneration applications and as the effects of COVID-19 begin to diminish across the world, Osteopore is experiencing increased engagement with hospitals, surgeons, and healthcare decision makers.
These encouraging tailwinds are opening up opportunities to gain deeper and wider market adoption, and allow the company to continue its vision to become the standard of care for bone and tissue regeneration globally.
Incredibly, Osteopore products have a complication rate of 0.01%, meaning patients have a much higher chance of avoiding revision surgery, providing a better surgical outcome as well as saving time and overall healthcare costs. These revision surgeries are expensive, and can increase the cost to patients and the healthcare system.
At a time where cost efficiency is becoming a high priority across many corporate sectors, Osteopore products could become even more important.
This article was developed in collaboration with Osteopore, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.