Human Med and the world-wide economic crisis
2009/01/26
In August 2008, the Food and Drug Administration of the USA (FDA) has cleared our flagship product body-jet® for distribution in the US. With this landmark, a one-year period of intense work was brought to a successful end. To date, various studies and publications show the safety and effectiveness of the worldwide first water-jet assisted device for gentle liposuction. Extracts and conclusions of these you can find in our current issue of Hydro Surgery News (downloadable here).
It is known that the aesthetic market of the United States represents more than 50% of the total world-wide turnover in this field. This means that, over night, and right before the world financial and oil price crisis unfolded, human med AG doubled its market for the liposuction product line.
With Eclipsemed (www.eclipsemed.com) an excellent distribution partner for the US was contracted and trained, which enabled us to commence sales and marketing activities already in November last year! The concept of water-jet assisted liposuction was quickly accepted by the American users, especially by those who have to remove high volumes of fat, who want to complement laser-liposuction and, last but not least, those who want to profit from the possibility to easily harvest fat during a liposuction procedure.
With supplying the initial needs of this immense market, our production output in November and December 2008 has more than doubled, compared to last year. This proves the fact that a medium sized public company like human med AG, which shares are not traded at the stock exchange, is rather affected by product approvals and local market developments than by the overall economic situation. A slight decrease in growth in Asia and Europe was easily over-compensated by the new business with the USA.
In consequence, regardless of the further development in the financial sector, we are building for the future and have taken on board four more employees recently. Our new head of operations, Mr. Roland Hauer, will ensure that human med AG is able to satisfy the demands of our constantly growing customer base.
Our product portfolio, our world-wide distribution and our organizational structure facilitate independence from macro-economic developments. Human med will stay a reliable partner for physicians and investors, especially in these turbulent times.
With best regards
Arnd Kensy
CEO