BoneSupport said today that it expects to see sales growth of greater than 40% beyond 2019 as a result of initiatives enacted as a result of an internal strategic review.
The Lund, Sweden-based company said that its new strategic initiatives will focus on innovation, strong clinical and HEOR evidence and an effective commercial platform, according to a press release.
BoneSupport also said that it is building its own chain of distributors in the US to gain control of its business in the region after Zimmer Biomet (NYSE:ZBH) withdrew from an exclusive distributorship deal with BoneSupport in June.
“The strategic review identified a clear need to considerably optimize and strengthen our commercial platform to capture the significant potential of our Cerament products. We have made excellent progress in building a US distributor network and commercial organization ahead of commencing to sell Cerament BVF direct on 21 October. In Europe, we have added skilled sales people to increase penetration of major indications such as trauma. I am very pleased that we have a clear focused strategy to guide us for the next five years and that we are creating the commercial platform to accelerate market penetration of our Cerament products,” CEO Emil Billbäck said in a prepared statement.
Last month, BoneSupport said that it won Health Canada approval for its Cerament G bone graft substitute.
Registration is open for DeviceTalks Boston! Join us on June 5-6, 2019, as we explore the trends and technology that are shaping the future of the medical device industry.