- Medical device company, Osteopore (OSX) is continuing its sales momentum, despite the COVID-19 pandemic
- The company is seeing strong sales of its 3D ‘bone healing’ implants at its Singapore manufacturing facility
- Sales for the first quarter of 2020 are approximately $313,000, a 60 per cent improvement over the first quarter sales in 2019
- Osteopore is up 8.86 per cent on the market, selling shares for 43¢ each
Medical device company, Osteopore (OSX) is continuing its sales momentum, despite the COVID-19 pandemic.
The company is seeing strong sales of its 3D ‘bone healing’ implants at its Singapore manufacturing facility.
Sales for the first quarter of 2020 are approximately $313,000, a 60 per cent improvement over the first quarter sales in 2019.
Osteopore specialises in the production of bioresorbable implants that are used in conjunction with surgical procedures to assist with the natural stages of bone healing.
CEO Goh Khoon Seng says these results show of the increasing demand of the company’s unique 3D implants.
“Osteopore is also pleased to confirm that it has been included as an “essential service” and will, therefore, continue to be opened and operational during Singapore’s shut down of all schools and most workplaces to stem the spike of local COVID-19 cases,” Goh said.
“Osteopore shall implement the Enhanced Business Continuity Plan (BCP) to maintain operations with only essential staff,” he added.
The company reported it has a strong cash balance of $3.3 million (as of December 31) and says it is well placed to continue the momentum in 2020.
“Despite these challenging times, Osteopore is continuing to progress key business development initiatives,” Chairman Brett Sandercock said.
“We are committed to ensuring the safety of all our staff, customers and suppliers and will continue to monitor the impact of the COVID-19 pandemic on all aspects of the business,” he added.
Osteopore is up 8.86 per cent on the market, selling shares for 43¢ each at market close.