TSSNF - Tissue Regenix unveils growth strategy and positive EBITDA milestone
(NewsDirect)
Tissue Regenix Group PLC (AIM:TRX) CEODanny Lee and CFO David Cocke discussed the company's 2023operational and financial performance in an interview withProactive's Stephen Gunnion.
Tissue Regenix is a global leader in regenerative medicine,focusing on tissue-based scaffold technologies derived from both humanand animal tissues. These technologies are critical for regenerativetherapies, enhancing the body's natural healing processes acrossvarious surgical fields, including orthopaedics, sports medicine,general surgery, urogynecology, and ophthalmology.
For the first time, the group reported apositive EBITDA, attributed to a 20% increase in sales revenue,reaching £29.5 million. Growth was primarily driven by the BioRinseand DermaPure divisions, with notable success in specialised bone andbirth tissue products, particularly the ConCelltrate product for boneformation 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 growthstrategy. This strategy is further supported by four growth pillars:expanding the base business, enhancing tissue partnerships, evolvingregulatory status to become a device company, and expanding marketreach globally.
Notably, Tissue Regenix has signed newdistribution partnerships in Spain, Australia, and China, with plansto enter additional markets based on strategicopportunities.
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