Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Medical device company PolyNovo (PNV) has expanded into the medical device markets in Denmark, Norway and Iceland
  • The company has appointed medical device distributor MedinaMedical as its distribution partner in these countries
  • MedinaMedical will distribute PolyNovo’s NovoSorb BTM product to new customers throughout the region
  • This latest appointment progresses the company’s European infiltration strategy and completes its expansion into the Nordic countries
  • PolyNovo is up 1.65 per cent and trading at $2.46 per share

Medical device company PolyNovo (PNV) has expanded into the medical device markets in Denmark, Norway and Iceland.

The company has appointed Copenhagen-based medical device distributor MedinaMedical as its distribution partner in these countries. MedinaMedical specialises in reconstruction, complex wounds and burns. 

This makes MedinaMedical perfect for distributing PolyNovo’s NovoSorb BTM product to new customers throughout the region. There is reportedly great interest in the company’s range of bioresorbable polymers, which acts as a dermal scaffold that helps the skin to regenerate after being burned or undergoing extensive surgery.

As part of its expansion strategy, PolyNovo has significantly ramped up its presence across the European continent. The company already had access to markets in Germany, Switzerland, and Austria and has added at least 11 more European markets to its customer base in the last six months.

In September 2020, PolyNovo entered the Finnish market after selecting Innova Medical Oy as its distributor there. In November 2020, the company extended its partnership with PolyMedics Innovations in Germany, allowing it to enter the markets in Belgium, the Netherlands, Sweden and Luxembourg. 

Shortly after the new year started, PolyNovo expanded into the Polish and Turkish markets through two new distributor appointments. Earlier this month, the company entered the Italian medical device market. 

PolyNovo’s Managing Director, Paul Brennan, commented on the company’s latest distributor appointment, which progresses the company’s European infiltration strategy.

“Our partnership with MedinaMedical completes PolyNovo’s coverage of the Nordic region which consists of some of the highest quality healthcare systems in the world,” he said.

“As a percentage of GDP, Nordic countries also have some of the highest healthcare expenditures in the world, and therefore, this is an exciting incremental step in expanding our sales across Europe,” he added.

PolyNovo is up 1.65 per cent, trading at $2.46 per share at 10:52 am AEDT.

PNV by the numbers
More From The Market Herald

" Telstra (ASX:TLS) increases its dividend for the first time in seven years

Telstra (ASX:TLS) has increased its dividend for the first time in seven years despite posting a…
AMP (ASX:AMP) - CEO, Alexis George

" AMP (ASX:AMP) flags $1.1b in upcoming shareholder returns despite profit slip

AMP (ASX:AMP) announces a fall in half-yearly profits of almost 25 per cent to $117 million…
The Market Herald Video

" FDA defers A2 Milk Company (ASX:A2M) application to supply baby formula to the US

The US Food and Drug Administration (FDA) has deferred The A2 Milk Company’s (ASX:A2M) request for…
The Market Herald Video

" OZ Minerals (ASX:OZL) rejects BHP takeover offer

OZ Minerals (ASX:OZL) has rejected an $8.37 billion takeover offer from BHP, claiming the offer "significantly…