All,

One of our key growth initiatives over the coming few years is to have our International Business grow faster than our overall business resulting in our OUS revenue being a greater percent of our total revenue than it is today. This is a key initiative and part of our Full Potential Plan providing a more well-rounded overall business that will drive long term value.

As I was able to spend some time at our international corporate office in Amsterdam last week I gained new appreciation for the team we have in place, our terrific and critical leadership and the passion and dedication we have in our European based office that supports Canada and our Asia Pacific areas as well.

The following are key levers for growth for Bioventus;

  • Drive above market growth in our Direct Markets in Germany, UK and Canada – we currently sell two products in Germany and the UK (Exogen and Durolane and now we have added the Bioness products as well) and in Canada we have added OsteoAmp. The team has done a terrific job launching our Bone Graft Substitutes business in Canada.  We will look to do the same in the UK and Germany next year. Special thanks for the leadership of Sue Stafford in the UK, Stefan Brodmeier in Germany and Josh Kay in Canada for their excellent leadership especially as we look to accelerate our growth.
  • Improve our market penetration in new attractive markets that have long term market growth opportunities and advanced healthcare systems. Larry Chen, Managing Director of the Asia Pacific Markets and Miguel Estevez Cruz, Sales Director EMEA and Latin America are hard at work ensuring we are setting solid foundations for our future growth including markets like China and Brazil.
  • Expand our product portfolio through M&A which will be critical toward our international expansion – the more products we have to sell, the more levers for growth we will have.  We will also be looking at direct sales models or hybrid models in other markets as our portfolio expands which will drive improved market penetration and profitability.

Led by Anthony Doyle, Managing Director of International we have a scalable organization capable of growing as our OUS business expands.

This is a picture of some of the key management working out of our Amsterdam office going to the right from me around the table;) – Onno Siegersma (Director of Marketing International), Miguel Estevez Cruz, Gabriela Masek (Senior Human Resources Manager), Kirsten van Klinken (Office Manager and Executive Assistant), Anthony Doyle, Harald Weebers (Director of Finance International), Barry Cooper (VP of Accounting based in Durham) and Geena Portier (Director of Operations International).

Hope you have a terrific week!

Best Regards,

Ken