Surgical sealant film manufacturer Tissuemed Ltd (Leeds, UK) has announced that its revenues have grown for the sixth consecutive quarter thanks to raised awareness among surgeons and clinical evidence demonstrating that they are addressing an unmet surgical need.
Over the last year the company has seen significant growth and has reported a 100% growth in sales, compared to the same period last year.
Tissuemed manufactures very fine absorbable films branded ‘TissuePatch’ which adhere to the body’s internal tissues. By using TissuePatch, surgeons can prevent leakage of air, blood or other fluids that traditional stitches may not contain.
Sustained revenue growth may be common among medical device suppliers with a more established track record; however what is striking in Tissuemed’s case is that the company’s sales consist entirely of products which are novel and in some cases demand changes of surgical practice.
Speaking about Tissuemed’s success, CEO Nick Woods said: “TissuePatch products require no preparation, are very easy to use and work within 30 seconds of application.”
“We now have several independent clinical case studies, coupled with ongoing clinical studies in three prestigious Neurosurgical centres across Europe. This clinical evidence helps to demonstrate that we are addressing an unmet need. The avoidance of post- operative complications due to leakage is naturally highly desirable for patients. It also has the potential to reduce costs associated with extended in-patient duration and even more costly reoperations.”
Future growth is expected to come from increasing the number of surgeons using their products; however its applicability across a broader spread of surgical techniques gives the company reason to believe the technology can find its way into a much greater array of procedures.
These areas are being explored through a number of collaboration projects and continued R&D research and it is expected that this growth continues through Quarter 7 and throughout 2010.