OssDsign updates its strategy and establishes new financial ambitions to support growth, value creation and innovation
OssDsign AB (publ) (“OssDsign” or the “Company”) today provides details of its new strategy, ASCENT25, intended to accelerate growth, value creation and innovation of the company until 2025. The updated strategy and the new financial ambitions will be presented during a webcast today.
The new strategy will broaden OssDsign from being a company focusing on the Craniomaxillofacial (CMF) market to participation across three orthopaedic market segments:
With a clear focus on execution, the new strategy ASCENT25 comprises five key priorities:
- Win in the US, by accelerating surgeon engagement, KOL activities and expanding sales coverage
- Build Orthobiologics business, by successfully commercializing the synthetic bone graft substitute added to the portfolio through the acquisition of Sirakoss
- Innovate portfolio, by leveraging the existing technology platforms to accelerate new product development
- Show clinical superiority, by investing in preclinical- and clinical studies as well as clinical registries
- Drive operational efficiency, by implementing initiatives to deliver scale and cost reductions
OssDsign will focus on orthopaedic market segments and portfolio offerings where it can leverage commercial and technology synergies. As part of the focused strategy, OssDsign will therefore re-evaluate its non-core offerings, including the facial reconstructive implants and granules for oral surgery and dental applications.
OssDsign’s long-term financial ambition
OssDsign has revised its long-term financial ambition in connection with the new strategy. The Company has decided on the following financial ambitions:
- Grow net sales to between SEK 300-400 million in 2025
- Cash flow positive from operations in 2024
The ambition is based on assumptions about future commercial orders and prices and successful launch of the bone graft substitute including a ramp-up in sales in accordance with the Company’s expectations. Deviations from said assumptions with regards to, among others, volume, price, and timing could have an effect on the Company’s business, financial position and results of operations, i.e. if and when the Company becomes cash flow positive from operations. The ambition is also based on the successful completion of the rights issue including the over-allotment option announced today in a separate press release.
The company will host a live webcast today in collaboration with Redeye at 13.00 where CEO Morten Henneveld will elaborate on the strategy in more detail. The webcast can be reached via https://www.redeye.se/events/805473/strategy-update-ossdsign
For further information, please contact:
Morten Henneveld, VD, OssDsign AB
Tel: +46 73 382 43 90, email: [email protected]
Erik Penser Bank AB is the company’s Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: [email protected]
OssDsign’s vision is to provide regenerative solutions to all patients with cranial or spinal bone defects, so they can be restored and healed as naturally as possible. Driven by a commitment to give patients back the lives they deserve, OssDsign collaborate with surgeons to engineer better healing by integrating biomaterials with clinical design. OssDsign is headquartered in Sweden but supplies hospitals globally with implants for use in cranial reconstructions and other orthopaedic surgery applications.
This information is information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08.00 CET on March 2, 2021.
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