Tissue Regenix unveils growth strategy and positive EBITDA milestone
London, UK
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March 21, 2024 11:53 AM Eastern Daylight Time
Tissue Regenix Group PLC (AIM:TRX) CEO Danny Lee and CFO David Cocke discussed the company's 2023 operational and financial performance in an interview with Proactive's Stephen Gunnion.
Tissue Regenix is a global leader in regenerative medicine, focusing on tissue-based scaffold technologies derived from both human and animal tissues. These technologies are critical for regenerative therapies, enhancing the body's natural healing processes across various surgical fields, including orthopaedics, sports medicine, general surgery, urogynecology, and ophthalmology.
For the first time, the group reported a positive EBITDA, attributed to a 20% increase in sales revenue, reaching £29.5 million. Growth was primarily driven by the BioRinse and DermaPure divisions, with notable success in specialised bone and birth tissue products, particularly the ConCelltrate product for bone formation and the amniotic membrane product for wound care.
The company outlined its strategic focus, known as the "four Ss": Supply, Sales, Revenue, Sustainability, and Scale, which form the foundation of its growth strategy. This strategy is further supported by four growth pillars: expanding the base business, enhancing tissue partnerships, evolving regulatory status to become a device company, and expanding market reach globally.
Notably, Tissue Regenix has signed new distribution partnerships in Spain, Australia, and China, with plans to enter additional markets based on strategic opportunities.
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