Bonesupport has, over the course of 2019, laid the foundations for its commercially driven strategy to deliver accelerating growth of its CERAMENT platform. It is targeting 40+% annual revenue growth from 2020 as it seeks to affect a paradigm shift in the way that bone voids are treated. Q419 was the third consecutive quarter of record sales, with FY19 net sales of SEK155m up 61% on FY18. US quarterly sales have returned to their historic peak and client conversions under GPO contracts bode well for US sales momentum. In Europe/RoW antibiotic eluting products continue to show impressive growth (+45% y-o-y). Compelling clinical and health economics data will add further impetus to commercial efforts, with various studies supporting future reimbursement discussions (CONVICTION and SOLARIO) or regulatory approvals (FORTIFY). We upgrade our Bonesupport valuation to SEK43.3/share, or SEK2.27bn.
02 Mar 2020
Cementing the foundations for growth
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Cementing the foundations for growth
Bonesupport has, over the course of 2019, laid the foundations for its commercially driven strategy to deliver accelerating growth of its CERAMENT platform. It is targeting 40+% annual revenue growth from 2020 as it seeks to affect a paradigm shift in the way that bone voids are treated. Q419 was the third consecutive quarter of record sales, with FY19 net sales of SEK155m up 61% on FY18. US quarterly sales have returned to their historic peak and client conversions under GPO contracts bode well for US sales momentum. In Europe/RoW antibiotic eluting products continue to show impressive growth (+45% y-o-y). Compelling clinical and health economics data will add further impetus to commercial efforts, with various studies supporting future reimbursement discussions (CONVICTION and SOLARIO) or regulatory approvals (FORTIFY). We upgrade our Bonesupport valuation to SEK43.3/share, or SEK2.27bn.