Moron1.3 Billion is way to high of a price for that product.
Up to 1.3 billion USD for Cod skin grafts. Impressive feat by the Kerecis founder. Welcome to this crazy market.
Also, I think this is yet another sign that Orgo/Mimedx are fucked and can’t find a quality buyer
Mimedx or Organ will never be sold. There is 2 much of a liability with both companies. Kerecis hadn’t been on the market long enough to stir up a huge mess.
true. There are also more issues with bringing human amniotic products (HCTPs) to other international markets vs 510K medical devices,
Mimedx or Organ will never be sold. There is 2 much of a liability with both companies. Kerecis hadn’t been on the market long enough to stir up a huge mess.
The reason it is more complex is due to the fact they are public versus Kercis which was privately held. The investors in Orgo and Mimx would have to approve and won't take a loss. Both have a large number of institutional buyers involved. But everyone has a price. I agree Colo paid way too much for this business and the CEO all but admitted it because he said he expected a 15 to 20 year payback. It was a bold move though. Also if you view Orgo, Mimedix, S&N, and Integras pipeline they are well prepared to go international and compete on a device versus biologic standpoint. These four companies represent 85% of all the skin sub-market globally. Good luck to Colo in competeing.
eh, Orgo and Mimedx will be dead if/when private office is bundled. Integra suffered a massive blow due to their contamination that apparently ran for years. With current directions of the market and reimbursements, I see only large companies with large portfolios sticking around, namely S&N, Convatec, Coloplast, 3M, and maybe Integra if they get their act together
Fishskin or snake oil?
Kind of hard to say when it "incorporates" into a pile of gooo.
Coloplast got taken to the hoop on this one, imo.
They definitely overpaid, but it will be easier for them to enter and compete in foreign markets.
what markets do you speak? You are telling us kereshit was in markets that Coloplast was not? One place maybe?
Finding skin of a fish must be so tuff.
Kerecis is Coloplast’s skin sub play for developing or emerging markets, at best. Being on the outside looking in at Integra, Organo, S&N, and MiMedx having the vast majority of the business locked down in the U.S, Canadian, and EU markets, they can either compete for scraps with dozens of no-name bovine/ovine/porcine/equine collagen startups in that space, or they can try to establish themselves in markets like South America, the Middle East, Africa, India, and Southeast Asia. These markets are gaining economic clout, but still have underfunded healthcare systems and significant poverty. A product that can be sold cheap and has at least a modicum of anecdotal data that claims it sometimes works in layup cases like minor burns is well-positioned for those regions. And since Kerecis is as close to 100% markup as a product can get (it’s literally salvaged byproduct from the government-subsidized Icelandic fisheries), they can drop their pants on price and still make a slim profit.
How is the transition going since they bought the fish skin? Tons of positions posted to sell skin. Is this a rapid expansion? How will the CMS policy affect the business once it’s finalized? Considering interviewing. Is it worth it??
Any update on this? In the process of interviewing now
Well they do buy the business by inviting doctors to visit Iceland and they do the cultural wine and dine Viking style and then put pressure on the doctors to support the purchase of Kerecis. It’s nothing special….just an animal origin scaffold where Kerecis pushes the omega 3 story and benefits but can’t make any claims as it hasn’t been proven by any formal studies. In fact, Kerecis had to pull the old brochures with all their fake claims. The other fake claim by Kerecis is “no risk of prions” they have not proved this and they should be reported to the FDA. BTW, it’s very expensive and we all know that human is better than animal sources and synthetic is better than human.Mimedx or Organ will never be sold. There is 2 much of a liability with both companies. Kerecis hadn’t been on the market long enough to stir up a huge mess.
