Strategic Approach to Supply Chain, Enhanced Customer Offerings and Market Access Innovation Lead to Continued Growth for First Half 2021
OrthogenRx, Inc., a medical device company focused on the development and commercialization of treatments for knee pain caused by osteoarthritis (OA), announced the company has surpassed 1 million in syringe distribution. Additionally, they continue to exceed revenue targets via multiple sales channels and partnerships. Most notable was the company’s increased focus on the 3 weekly-injection Hyaluronic Acid segment with TriVisc®, indicated for the treatment of osteoarthritis (OA) knee pain in patients who have failed to respond adequately to conservative, non-pharmacologic therapy and simple analgesics, e.g., acetaminophen.
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Among many accomplishments throughout the year, OrthogenRx is proud to have launched new options for patients and healthcare providers to improve access to the company’s products. These initiatives were particularly welcomed across the healthcare landscape during the health and financial burden experienced by patients during 2020 and continuing in 2021.
“The trends around telemedicine, delivery of care and patient engagement strategies are changing at a rapid pace. OrthogenRx has been applying unique and creative solutions since its inception. The strength of our team has always been the ability to quickly pivot and adapt to a changing market. It has been particularly rewarding to reap the fruit of our ongoing efforts, while at the same time increase patient access,” said Michael Daley, PhD, Co-President, Co-Chief Executive Officer, and Founder of OrthogenRx, Inc. “Across our corporate infrastructure and operations, our culture has always centered around patients. Innovating to meet the needs of patients who suffer from knee pain due to osteoarthritis is the foundation of our success and our own personal satisfaction. I am pleased that our aspirational goals to provide every patient with the products they need has translated to exceptional growth.
Corporate highlights:
- A five-year compounded growth rate of over 70%
- Created and hired full time positions in Marketing, Market Access, Customer Service and Finance
- Increased product access through new Distributor Channels
- Spotlighted media coverage in Philadelphia Alliance for Capital and Technology Times, Orthopedics This Week, and Bucks County Herald
“OrthogenRx’s strategic partnerships have ensured a seamless supply chain from the company’s inception and have never wavered. Our expanded suite of customer offerings are paving the way for our novel product pipeline portfolio makes this an exciting time for the organization,” added Daley.
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Product highlights:
- Launched TriVisc® Direct Purchase Program to afford easy and affordable access to TriVisc for all patients.
- Launched a Patient Assistance Program to deliver access to TriVisc® for patients without the financial resources to pay for the treatment by supplying cost-free product to qualified patients.
2H 2021 Outlook
The company expects to continue a straight-line, upward growth trajectory in 2H 2021 and significant uptick in business for 2022 as it rolls out a new, holistic service platform. Among the product plans for 2021, the company will add new employee engagement initiatives and geographic expansion to manage the growth.
“Our vision for a creative and insightful strategy, coupled with excellence in execution by a dedicated team of outstanding professionals, sets the stage for continued growth and product expansion,” added Daley. “As you would expect, we closely monitor all conditions that may impact the business but remain very optimistic, as based upon recent performance, that we can continue to expand our business with industry-defining value propositions to all our key stakeholders.”
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