Osteopore expands further into Europe after delivering maiden sale to Spain

Osteopore’s shipment to Spain comes on the heels of its deal in Colombia earlier this week.

Bone healing specialist, Osteopore (ASX:OSX), has expanded its footprint in Europe with a maiden shipment of its cranial (skull) regenerative implants to Spain.

The initial orders were received from Osteopore’s Spain based distribution partner, Acuña y Fombona, one of the main distributors of medical and surgical materials in the region.

This development follows the recent expansion into Latin America, where first orders were shipped to Colombia earlier this week.

While the initial Spanish sales are not material in terms of revenue, Osteopore believes it represents a great opportunity to penetrate new markets and drive uptake amongst surgeons worldwide.

It will also help to introduce and initiate the clinical usage of Osteopore’s cranial implants within the Spanish market.

“Achieving first sales in Spain is yet another fantastic milestone for the company, and displays our team’s ability to execute on our strategy to penetrate new markets,” said Osteopore CEO, Mark Leong.

Leong added that Osteopore is moving rapidly to regain momentum post Covid, backed by a fully dedicated sales team ready to take advantage of a significant backlog of elective surgeries that were postponed during the pandemic.

The opportunity in Spain

The addressable market for Osteopore’s implants in Spain is estimated to be around 40,000 cases per year.

The partnership with Acuña y Fombona, who has more than 50 years of industry experience, is expected to capture a portion of that market by leveraging Acuña’s extensive networks in various key cities regionally.

These cities include Madrid, Barcelona, Valencia, Seville, and Salamanca, and Acuña’s headquarters in Gijón.

The initial shipment will also provide Acuña y Fombona with sufficient inventory to engage their established network of health professionals, hospitals and health services.

Acuña y Fombona General Manager, Sergio López-Fombona, said of the deal, “This will allow us to expand our product portfolio with an outstanding technology, and serve a wider range of needs across our network of surgeons and ultimately to give a better treatment opportunity to their patients.”

Tailwinds post pandemic

Osteopore says that its craniofacial implants are superior, off-the-shelf products that can be manufactured at scale.

This flexibility allows the implants to be potentially used in over 1.1 million craniofacial procedures that are performed around the world.

The unique property about Osteopore’s implants is that they can dissolve over time to leave only natural healthy bone. Osteopore also said its implants have largely out-performed traditional implant methods in terms of design, post-surgery complications, as well as associated long term costs for patients.

As the effects of COVID-19 begin to diminish across the world, Osteopore is starting to experience increased engagement with hospitals, surgeons, and healthcare decision makers.

These tailwinds are opening up opportunities to gain market penetration, and allow the company to continue in its vision to become the world standard in bone and tissue regeneration.

With regulatory clearances and distribution partners secured in many major markets, Osteopore is rapidly moving towards growing its footprint across more regions where immediate opportunities exist.

To capture those markets, a complementary pipeline of new products is currently being developed for additional bone regeneration applications.

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.