Singapore-based Medtech Firm Osteopore announces their record revenue of $460,684 for Q3 CY22, an increase of 6.6% over the preceding quarter. As an extension of the same financial year, Osteopore has likewise broadened their regional operations to span Colombia, South Africa, Spain, and UAE to serve more demographics across the globe.
Osteopore was founded in 2003 by a small team of inventors from local institutions National University of Singapore (NUS), National University Hospital (NUH), and Temasek Polytechnic (TP), with their fundamental purpose devoted to the identification and analysis of bioresorbable materials.
Today, the company is a global pioneer in regenerative solutions, with outstanding success in introducing first-of-its-kind bioresorbable implants for surgical use. With their expansion to Colombia and South Africa, Osteopore solidifies their foothold in the South America and African markets and looks towards an upward trajectory in the new financial year.
Access to US Federal Healthcare Facilities
In early 2022, Osteopore inked a non-exclusive agreement with MellingMedical LLC to promote and sell their products across 560 healthcare facilities owned or operated by the United States federal government. In conjunction with a U.S.-based distributor, this brings military veterans better access to quality medical equipment, supplies, and pharmaceuticals through a comprehensive selection of healthcare products.
With Osteopore’s products being employed in more than 165 Veteran’s Affairs (VA) Medical Centres, 300 VA Outpatient Clienics, 7 Consolidated Mail Outpatient Pharmacis, and 95 Department of Defrence Medical Facilities, the company stands to benefit more communities with its high-quality offerings.
Osteopore Moves Closer To China Market Entry
Osteopore signed with Kontour (Xi’an) Medical Technology Co. Ltd (Kontour), to tap into the local healthcare market in China. This is a key development for their commercialisation efforts, as the Chinese market is an integral market for Osteopore’s future growth and development.
The development is in preponderance to their recipiency of the A*STAR grant in 2021, awarded to Osteopore to help anchor their operations in Suzhou Industrial Park.
Through their market expansion, Osteopore seeks to facilitate greater accessibility, and heightened awareness surrounding regenerative medicine globally. Additionally, Osteopore seeks to advance the development and adoption of sustainable medical practices, to limit the frequency of post-operation surgeries.