Bonesupport: US Sales Process & Growth Opportunity

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Do you know what they plan to sell CERAMENT G at in terms of premium?

At least double that. When we were focusing on that, my average sales price was about $3,500, and we were looking for between $7,000 and $10,000 per unit.

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That helps you cover a large area right away compared to just working alone. In terms of the actual end buyers or hospitals, the IDNs, and GPOs? How did you segment that, and where was the sweet spot for the product early on?

The sweet spot is where you're already approved. That's always the sweet spot. Instead of trying to fight with GPOs, IDNs, or hospital systems to get the product approved, which could take three to 12 months, you work where you have low-hanging fruit and opportunities in places where you're already approved. That was the focus. As you build momentum, you aim to get into large teaching institutions like HSS Hospital for Special Surgery. You find a target willing to support you and go through the approval process. Early on, I focused on where I was already approved, where I could sell the product and utilize it quickly.

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Let's walk through that example. If you try to get into Northwell, what do you expect them to be willing to give you in terms of pricing, or what are you trying to get out of them? How do you approach that negotiation?

I'd approach the negotiation knowing it's going to be a three to nine-month process. It's not going to happen overnight. I also know I need at least two surgeons to support me and request the product. I have to go in with a lower than usual expectation of pricing, probably 20% to 25% lower than what I would normally get.

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