Invent Medic has experienced a good momentum in its sales growth so far this year. At the same time, not all markets have developed as expected, with the company singling out Germany as a country where it has not been completely satisfied. The company is now making a renewed effort in the country by appointing Kessel Medintim their new distributor. BioStock reached out to CEO Anna Lindström for her comment on the latest news.
Lund-based Invent Medic focuses on developing and selling products within the field of women’s health. Efemia Bladder Support is the company’s first product, which is designed to help women with stress urinary incontinence. The company is currently in a highly expansive phase, where it has expanded its product portfolio through the acquisition of Malmö-based FlowCup.
Clear successes in the UK
During the second quarter, Invent Medic reported a sales increase of 170 per cent compared to the same period last year. One of the reasons for the increase in sales is the success in the UK, where Efemia Bladder Support has been warmly received.
The British distributor iMEDicare has contributed to this success through its strong network of contacts and training activities for prescribers, a model that Invent Medic now intends to use in other countries.
Signs agreement with well-established German distributor
However, Invent Medic has experienced challenges related to sales growth in Germany which has not meet the company’s expectations. To meet this challenge, the company has analysed the situation and been able to identify several opportunities for improvement. One of the most important measures is to change distributor.
Invent Medic has now chosen Kessel Medintim, an established player on the German market for medical devices, with a strong product portfolio within women’s health. Klara Rasmusson, Invent Medic’s Sales and Marketing Manager, expresses her optimism about the new collaboration and emphasises that Kessel Medintim has solid knowledge, a strong network of contacts and has shown that they can deliver strong results with prescribable women’s health products on the German market.
In addition, Kessel Medintim’s strong product portfolio provides a faster route into pharmacies’ product catalogues and an opportunity to reach gynecologists with Efemia Bladder Support.
“We look forward to start marketing Efemia bladder support to healthcare professionals and women in Germany as we see that there is a need and interest in the product. We aim to create an increased awareness of the challenge of stress incontinence, which is something that many women suffer from, and to offer a reliable solution,” says Lukas Distler, CEO of Kessel Medintim.
BioStock reached out to Invent Medic’s CEO Anna Lindström, for a comment on the latest news and to find out more about what this means for the company.
First of all, Anna, you have analysed the situation in Germany. What conclusions have you drawn?
-We simply have not been able to reach prescribers with the product and get them to understand the benefits of Efemia Bladder Support. From Sweden, Norway and most recently the UK, we have experienced what it takes for a new product on the market to be accepted by the profession. At the same time, the women who have been prescribed the product have not been able to easily collect their assistive device because Efemia Bladder Support has not been available in the pharmacies’ joint product catalogues.
Perhaps the most important measure will be to change distributor in the country. What is it that Kessel Medintim offers that your old distributor could not deliver?
– Kessel Medintim is more established in the German market and can quickly get Efemia Bladder Support into pharmacies’ product catalogues through its larger product portfolio. In addition, they are well-established among gynecologists, German women visit a gynecologist once a year, i.e. they meet our target group often.
What expectations should one have on sales in the country going forward?
- To begin with, authorities in Germany must officially register the change of distributor as Efemia Bladder Support is a medical device. In the meantime, we are educating the new distributor about the product and giving them access to sales and marketing materials. In mid-November, Kessler Medintim will bring the product to a major trade fair where many of their most important customers will visit their booth and learn more about Efemia Bladder Support.