SCHAFFHAUSEN, CH / ACCESSWIRE / August 24, 2022 / Occlutech Holding AG

Occlutech Holding AG (Occlutech) is a leading specialist provider of minimally invasive structural heart implants. The company sells and markets its products in around 85 countries and the global addressable market for congenital and structural heart devices provides a significant growth opportunity. To meet the high interest for Occlutech and its development the company has issued a quarterly update with start from Q1 2022, which includes revenue development and comments from the CEO.

Sabine Bois, CEO, comments on Q2 2022:

8.4 percent revenue growth for H1 despite new increases in Covid-19 cases

Occlutech's revenue increased by 8.4 percent for H1 2022 and amounted to EUR 15,869 thousand (14,643), with sales in Europe and the Americas showing strong growth compared to H1 2021. Our quarter-to-quarter revenue has been affected by certain seasonality due to tender processes, which mainly explains the fluctuation between 14.2 percent growth in Q1 2022 and 2.9 percent growth in Q2 2022. Furthermore, and across the industry, revenue growth has still been dampened by the Covid-19 pandemic. During the pre-summer congress season in Q2, we had many interactions with physicians and other key stakeholders confirming strong interest in our products. The continued dialogue, particular in the heart failure segment addressed by our Atrial Flow Regulator (AFR) device, remains crucial for us to build this novel therapy. Our EBIT position improved in both Q2 and H1 compared to last year and we continue to aim for profitability within 3 - 5 years.

Key milestones achieved in the strategic US market

Our focus in geographic expansion is the US market, which, due to its market size coupled with an attractive reimbursement system, represents significant growth potential for Occlutech. Over the past year, we have worked intensively on growing the US organization with the main purpose of conducting clinical studies and building the supporting infrastructure to successfully commercialize our products on the market. Our US office is located in Minneapolis, which is one of the largest medtech hubs in the US and enables us to recruit in an area of excellence.

A major stepping-stone for our commercialization in the US was in May when Occlutech signed an exclusive distribution agreement with B. Braun Interventional Systems Inc. (BIS). B. Braun is one of the world's leading medical technology companies with sales of EUR 7.9 billion in 2021, of which almost 25 percent is generated in North America. The agreement, which came into force with immediate effect, means that BIS will start marketing and commercializing activities for Occlutech's ASD Occluder in the US market, where we anticipate the product to be approved by the FDA within 6 months. BIS' excellent reputation and proven sales capabilities will significantly improve our commercial strength and I am convinced that this collaboration will successfully drive our market entry.