Sedana Medical establishes sales organization in Benelux
Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that the company has set up its own direct sales organization in Benelux, in line with the strategy of being represented in several European markets in order to have well-established networks and reference ICUs in Europe when IsoConDa is approved. The establishment in Benelux means that Sedana Medical now has its own representation in ten European countries.
“We are proud that we can now start building market presence for inhaled sedation also in Belgium and the Netherlands. This is fully in line with our strategy to independently develop the inhaled sedation therapy in intensive care and the expansion of our own sales organization in several countries in Europe. This expansion is another step towards our vision of making inhalation sedation with IsoConDa and AnaConDa a global standard method for sedation of mechanically ventilated patients in intensive care.” said Christer Ahlberg, CEO of Sedana Medical.
In addition to Benelux, Sedana Medical currently has its own direct sales organization in the Nordic countries, Germany, France, the UK and Spain as well as external distributors in parts of the rest of Europe, Canada, China, India, Israel, Japan, Mexico and South Korea.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
E-mail: christer.ahlberg@sedanamedical.com
Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.
The company's Certified Adviser is Erik Penser Bank, +46 8 463 83 00, certifiedadviser@penser.se.
The information was released for public disclosure, through the agency of the contact person above, on February 5, 2020 at 8:00 a.m. (CET).
About Sedana Medical
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major pivotal study is currently ongoing to obtain market approval in Europe for inhaled sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane). The company expects the registration of IsoConDa in Europe to take place during the second half of 2021. Three years thereafter Sedana Medical expects sales of SEK 500 million in Europe and an EBITDA margin of about 40 percent.
The market for Sedana Medical’s sedation therapy of AnaConDa and IsoConDa consists primarily of sedation of mechanically ventilated intensive care patients. Today, these patients are sedated intravenously which leads to several challenges for both patients and care givers. Challenges that are solved by inhaled sedation. Based on an estimate of seven to eight million patients being sedated in intensive care due to mechanical ventilation globally, on average three to four days, Sedana Medical estimates the total market potential to SEK 20-30 billion, evenly distributed between the US, Europe and Asia. The company has initiated a process to obtain market approval in the US in 2024. Registration activities are also initiated in other markets outside the EU.
Sedana Medical has direct sales in the Nordic countries, Germany, France, Great Britain and Spain as well as external distributors in parts of the rest of Europe, Australia, Canada, China, India, Israel, Japan and South Korea. The company was founded in 2005 and is headquartered in Stockholm, Sweden with medical device R&D in Ireland.