Ossis is New Zealand’s only orthopaedic implant design company. Ossis focuses exclusively on the design and marketing of world class patient-specific orthopaedic implants, primarily for use in the treatment of complex degenerative defects of the pelvis and spine and sarcoma (cancer) of the pelvis.
The global orthopaedic implant market is valued at over US$47b and is projected to grow to US$75b by 2023 . The global growth in implant demand is being driven by:
As demand increases the implant market is rapidly evolving in the face of technological innovation.The declining cost of 3D printing technology and increasing availability of software to process and manipulate digital image data is creating opportunities to provide patients with previously uneconomic personalised treatments for complex anatomical defects which are superior in their clinical performance, compared to traditional treatment methods.
At Ossis, we use the latest digital image manipulation and design software and 3D printing in titanium to deliver life-changing treatments to patients, who may otherwise be permanently incapacitated. In comparison to commonly used “off the shelf” (OTS) orthopaedic implants, our patient-specific implants provide surgeons with a better solution to deliver more positive clinical outcomes for their patients.
“Off the Shelf” (OTS) implants work well when used to treat simple anatomical defects. However, they are not designed for use in the treatment of complex degenerative defects and sarcomas. OTS implants therefore have a higher failure rate when they are used to treat complex anatomical defects, requiring further, even more complex revision of those failed implants. Depending on which country is being considered approximately 10% - 18% of all hip implants will require revision.
We extract and manipulate patient image data (x-ray, computed tomography and magnetic resonance imaging) and from that information we design our implants to meet the specific needs of each patient. As a result of being specifically designed for the patient, our implants:
Due to their patient-specific nature, our implants can be more expensive than the closest OTS implant, however healthcare funders are learning to take a “total cost of care” approach to cost, considering cost savings resulting from the use of patient-specific implants that deliver better long-term patient outcomes and lower total cost of care. After considering our clinical success rates, reduced surgical time and quicker hospital discharge and rehabilitation, we believe the total cost of care for a patient receiving one of our patient-specific implants is approximately 14% less than when an OTS implant is used in the same circumstance.
The orthopaedic implant market is large, highly profitable and competitive. It is different from most markets in that surgeons make the prescribing decision, but payment is made by a third-party funder, for example the public healthcare system or private healthcare insurers. Because of this dynamic, implant companies have, within reason, little incentive to compete on price, but rather they compete based on service levels to surgeons. We not only provide high service levels to our surgeons, but we also differentiate ourselves from potential competitors by having our engineers provide that service, if requested by the surgeon.
We maintain our competitive position, against our competitors, through a combination of:
Our forecast revenue growth is driven through expanding our distribution networks in key target markets of Australasia, USA and Europe, in order to increase our share of the rapidly growing global market. These forecasts assume $1.35m of capital is raised in this round.
Our strategic objective is for our patient-specific implants to become the “gold standard” of care for complex degenerative defects and pelvic/lower spine sarcomas, whereby our implants deliver superior outcomes and offer improved clinical and health economics benefits for surgeons, patients and funders, compared to off-the-shelf implants.
We are seeking to raise up to $1.35m to capitalise on this international growth opportunity. Funds raised will go toward key growth initiatives, including expanding our sales and marketing activities in international markets, gaining United States regulatory approval for our AceOs pelvic implant and purchase of instruments sets required for surgeries.
Patient-specific implants are the way of the future. We believe patients should no longer have to put up with implants that weren’t designed to meet their exact needs. With the advancement of multiple technologies decreasing the cost to produce patient-specific implants, we can make a real difference in the quality of life for an increasing number of patients worldwide and is so doing so dramatically reduce down ongoing medical cost for patients and those providing healthcare.
If you wish to receive more information about the upcoming capital raise for Ossis, please leave your details and an indicative investment amount below. We will be in touch with all interested investors in due course.
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