IPO 2018
S2Medical AB (publ)
S2Medical AB (publ) is a medical technology company that develops and sells innovative wound healing products for the entire wound healing process with a focus on burns and chronic wounds. The company has developed eiratex®, a new cellulose-based material for healing severe burns and chronic wounds. The material heals wounds effectively and thus reduces both sufferings for patients and costs for health care.
Watch when Petter Sivlér, CEO of S2Medical AB (publ) presents the business before listing
Watch investor presentation from the share date 23 Oct 2018 in Stockholm
In connection with the share day in Stockholm, the company's CEO, Petter Sivlér and COO, Mårten Skog presented S2Medical AB (publ) and its operations.
Documents
Prospectus
Additional document regarding listing
An innovative company with the goal of revolutionizing wound healing
S2Medical is an innovative medical technology company that develops and sells wound-healing products with a focus on burns and chronic wounds. The company has developed eiratex®, a new cellulose-based material for healing severe burns and chronic wounds. The material heals wounds effectively, often completely without the need for any time-consuming and painful dressing change.
Reduces both suffering and healthcare costs
The suffering and costs of traditional care for burns and chronic wounds are largely attributable to dressings (often 3-4 times a week), where each dressing creates suffering and risks shifting the healing process forward in time when the dressing is removed.
As the need for dressing changes is virtually eliminated, the dressing both means an increased quality of life for the patient and can lead to large cost savings for healthcare. With the help of the material eiratex®, obstacles to an establishment in the form of ethical and religious contradictions, which exist in relation to current methods based on the use of animal and human skin, are also avoided. S2Medicals products based on eiratex® technology are clinically proven as substitutes for human and animal skin in burn care.
Holistic concept for all phases of the wound healing process
S2Medical has developed innovative medical technology products throughout the wound healing process, from debridement and granulation to re-epithelialization. That is, products for the initial phase of a wound healing process to the end when the wound is completely healed. At the company's own wound healing clinic S2Clinic in Linköping, wounds are treated using S2Medical's holistic concept.
Established international sales network
Since 2013, the company has built strong relationships and a well-established network of distributors which, in combination with its own marketing and sales units, constitute a strong commercial platform for delivering the company's innovative medical technology products for wound healing.
S2Medical's products based on eiratex® technology are CE marked and may be marketed within the EU region and in Turkey. The company has received regulatory approvals for eight markets outside Europe and has ongoing registration processes for another 12 markets. As of September 30, 2018, the company in Europe had agreed to distributors in the United Kingdom, Italy, and Turkey in addition to direct sales in the Nordic region. As of September 30, 2018, the company also had agreements with ten established distributors outside Europe, which together cover 16 markets in the Middle East, Asia, South America, and Africa.
Market Overview
S2Medical is active in the wound care market for chronic wounds and burns. Wound-related costs in the industrialized world are estimated at 2–4 percent of all healthcare budgets, and the figure is expected to rise in line with the increasing proportion of the elderly in the population and an increasing proportion of people with diabetes. [ 1 ]
The global wound care market reached a value of USD 18.2 billion in 2016 and is expected to grow by 5.3 percent, to USD 26.2 billion by 2023. The wound care products segment is considered to be the fastest-growing segment among product types in the wound care market. [2]
According to the company, patients can often receive wound care for several years without adequate treatment being instituted with the consequence that the wounds do not heal. The frequent wound dressings alone are not costly, but over time result in an average treatment costing around SEK 60,000. [3]
In order to reduce the costs related to wound care, a reduction in the number of bandage changes should be sought, among other things. The use of S2Medical's products streamlines the healing process and can thus result in large cost savings for healthcare.
The market for treatments for chronic wounds is large. Patients with wounds are estimated to take up 27-51 percent of all hospital beds in healthcare in Europe [4] and in Sweden alone, it is estimated that at least 40,000 suffer from a leg ulcer. [5]
Foot ulcers, which are considered to be a type of leg ulcer, are the most common complication in diabetics. Foot ulcers in diabetics that are not cared for properly or in time can cause great suffering, or in the worst case, amputation. The three-year survival rate in diabetics after a major amputation of the lower extremities is 35-50 percent. [6] [7] [8] [9]
Other market information
In the western world, it is estimated that 1-2 percent of the population will ever suffer from a chronic wound [ 7 ]
The cost to society for the treatment of leg ulcers in Sweden is estimated to amount to approximately SEK 2.0 billion per year [ 8 ]
The global fire care market reached a value of $ 1.7 billion in 2016 and is expected to grow by 6.7 percent, to $ 3.0 billion by 2025 [ 9 ]
S2Medical AB (publ) - Summary
The company offers innovative wound healing products designed for a holistic concept
EPIPROTECT® - heals wounds effectively, minimizes patient suffering, and reduces healthcare costs
S2Medical has market-approved products and agreements with reputable established distributors in a growing market
Source list:
[1] Hard-to-heal wounds in the elderly - prevention and treatment. A systematic literature review. State preparation for medical evaluation. August 2014: 31.
[2] Stratistics MRC. Wound Care - Global Market Outlook (2017-2023).
[3] S. Thomas. Cost of managing chronic wounds in the UK, with particular emphasis on maggot debridement therapy. Journal of Wound Care. Volume 15. No 10. November 2006: 465.
[4] Posnett J, Gottrup F, Lundgren H, Saal G. The resource impact of wounds on healthcare providers in Europe. Journal of Wound Care. 2009: 18 (4): 154-161.
[5] RiksSår (national quality register for difficult-to-heal wounds). The National Board of Health and Welfare.
[6] Larsson J, Agardh CD, Apelqvist J, et al. Long-term prognosis after healed amputation in patients with diabetes. Clin Orthop Relat Res. 1998; 350: 149–158.
[7] Chronic wounds as a public health problem. The National Center for Biotechnology Information. October 2014: 5-7.
[8] Hard-to-heal wounds in the elderly - prevention and treatment. A systematic literature review. State preparation for medical evaluation. August 2014: 73.
[9] Grand View Research. Burn Care Market Analysis (....) 2018 - 2025.