Bone reconstruction technology company Osteopore is to purchase its distributors in South Korea and key South East Asian markets, taking control of sales and distribution in its most lucrative markets.
The company, which manufactures Osteoplug and Osteomesh bioresorbable implants which encourage bone regeneration, will buy Lomic Korea, 3D Aesthetic Solutions, 3D Healthcare, and 3D Aesthetic Medical Equipment and Supplies Trading for $2.05 million.
The businesses cover South Korea, Singapore Thailand, Vietnam and the Philippines which account for just below half of the company’s annual sales.
The South Korean distributorship is considered particularly important given strong growth being experienced in sales of Osteopore’s bone scaffolds for use in rhinoplasty.
Osteopore CEO Goh Khoon Seng (pictured) said: “This acquisition will allow Osteopore to be vertically integrated across an estimated 40-45 percent of our business.
“This means we will control the entire process from manufacturing, marketing and firect retail sales.
“The potential benefits of this are highly encouraging, including the immediate creation of a proven direct sales team, direct access to an extensive network of hospitals and surgeons, along with the anticipated benefit of supercharging revenue and increasing margins.”
Osteopore is considering the viability of additional acquisitions and partnership opportunities in the 20 countries where its’ products are on sale.
OSTEOPORE RECEIVES APPROVAL TO SELL 3D PRINTED BONE SCAFFOLDS
Picture: Osteopore CEO Goh Khoon Seng