ORGO - Earnings call transcript Q1 2021 | Organogenesis Holdings Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to the First Quarter 2021 Earnings Conference Call for Organogenesis Holdings, Inc. [Operator Instructions] Please note that this conference call is being recorded and that the recording will be available on the company's website for replay shortly.

Before we begin, I would like to remind everyone that our remarks today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including the risks and uncertainties described in the company's filings with the Securities and Exchange Commission, including Item 1A, risk factors of the company's most recent annual and quarterly reports.

You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Although it may voluntarily do so from time to time, the company undertakes no commitment to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by the applicable securities laws. include in certain accounting accordance GAAP. also are measures principles, will calculated not with call references financial to that or This generally accepted generally measures. non-GAAP We these financial to refer as the Reconciliations non-GAAP website. presented accordance Investor press GAAP of with Relations earnings measures available the on financial to in in those are release calculated most measures portion and comparable the our of to would call the like Mr. turn now I to over S. Gary Holdings' Organogenesis and Chief Officer. President Executive Gillheeney, Sr., go Please sir. ahead,

Gary Gillheeney

First Chief Quarter and joined welcome, everyone, Holdings Call. today to Thank Earnings you, I'm XXXX Organogenesis on by Jeff, Conference Dave Financial call the Francisco, our Officer.

our review that in-depth this updated our more and floor press and strategic financial rather open our questions. the which afternoon's start we'll and growth prepared And the we provide delivered of what remarks. with release. a advancing key of drivers our then review strong in me review in of brief we we of I delivered for am And while guidance our after with remarks, team a had start calls first the share in formal quarter challenging with results my for performance the quarter. during despite overview of of excellent of an then the pleased today I'll revenue progress review XXXX operating Let first you brief our I'll opening our first quarter the with a a will performance, Beginning we financial quarter will impressive quarter environment. strong first to a agenda operating for highlights report revenue the another that priorities. making Dave cover the results

XX% quarter, compared growth growth Sports in year-over-year, products first & Medicine growth reported by and the to Wound Advanced of the year. the XX% XX% Care of sales Surgical revenue products we our During in our driven total prior

broaden including strategy, strategy, and key that of leveraging in the multiple growth of on loyalty. comprehensive introductions the new portfolio of our our brand our product by reflects products, commercial and drivers a sales of our the expanding growth QX made benefits our focusing continuation reach better-than-expected investments to the execution of Our channels, strong we've force

Let color longer-term these strong to drivers each performance me growth first on how in provide some of the of the quarter. revenue contributed

year-over-year First, for key our Care of Wound while XXXX. notable a throughout customers expected, the broad were sale the products of XXXX. QX. portfolio of demand largest growth products the us, And our continued to our the was Advanced strong for our contributors first portfolio in services amniotic And demand and in quarter as from amniotic our remains differentiator trends these

features We are awareness pleased our customers amniotic value. portfolio's that growing of our with the differentiated truly

our the of amniotic also efforts supporting evidence, the body continues to in not of pay increasing our our clinical the our demonstrating payers coming benefits with dividends, Additionally, portfolio, in coverage increase we commercial look awareness only in but as to discussions of years. to terms increase clinician

to of the Second, value. our our strategy products broaden continues reach to drive

specialties, physician validates in the the into and In PuraPly's quarter, last sites focusing growth. these of pass-through of of the and quarter, of multiple with leveraging to expectations. We navigate the PuraPly results our strong reimbursement. have very in XX% we QX new reflects the consistent introduction PuraPly as loss we increased first change ahead quarter care experienced our initiatives. benefits we've strategy new our the corresponding headwinds in status believe to proud the And sales are our related execution been And on first what to it performance this year-over-year, expanding well strategic further of on product of fuel the

product's launched physician our were in continue in and of differentiation, specialties. additional sales the the extensions the additional number of value the by of care with new part line repositioned continue and and clinical additional PuraPly, to X of utilizing in fourth product accounts XXXX, which X quarter. we strong products aided sites have data, see to We Clinicians introduced

strategy in QX. strength our is third area of office Our notable

office to have through We working our primarily acquisition existing we and channel-specific seeing our market customers. of Biosciences. office increasing channel, leveraging in recently, CPN number utilization products a of of and, from been result, the as more with offerings channel on we penetrating the further expansion the customers product the And are continue expand

revenue Additionally, Wound of investments our possible recent Advanced We've the Care execution the direct and be of year years, our key significant reps representatives Organogenesis. business competitive in we not believe the strong for commercial are team. XXX grow our a the results of in advantage represents strong without made the would team team delivering direct over we last to

Our direct first our team. grow quarter benefited the we've from commercial revenue results investments to made clearly

our which and believe Finally, that We our sales year-over-year strong better-than-expected Sports increased beginning month the considering COVID-related first products, the quarter through reflect of QX. sales benefited & January. headwinds in our procedures elective December performance in Medicine results of sales results QX XX% impact Surgical from

While of the an continued our COVID see with impact in challenges comparison very half against trends move we March, pleased during XXXX. Surgical of of the quarter, the first we're & easier albeit as growth of the of Sports operating first improving the environment second March the month to strong given through in in half Medicine the quarter, business faced culminating

quarter, as challenging to environment and more Surgical have our the the to in in business benefit trends and results areas, early the to strength overall to in new we quarter compared continue resilient of including market. pockets COVID-related well COVID experience to continue from sales to the more relative Sports physician First operating respect see in With progress pandemic. Medicine more related trends to extremities procedures to continued that target specialties, the the headwinds strategy improving as elective this which & been our first areas trauma

of the Medicine our business & pace see to recovery Care Sports our Wound continue business. Advanced Surgical in We outpace

improving showed of in business care signs first the patient traffic wound Our quarter.

the vary of upon recovery region However, continues care. the sites country pace depending and the of of to the

having mix of throughput diversification specialty all patient that our customers overall which product, and the outpatient broader channel, levels. from have growth of office departments in and better still to continued with a the less or see the continued of channel our saw continuing COVID-related including Despite office contributed settings, physician exposure COVID, revenue the by channels tougher pre-COVID we've to the we in care, were care acute headwinds. channel, experienced the care which to strategy site commercial we fortunate the outpatient below hospital Specifically, in headwinds wound operate to in resulted a

the improvement our financial XX% a $XX million continues pleased adjusted summary, income first potential in year-over-year quarter. our profitability more in underlying to growth sales in EBITDA growth from very the in to the years operating continued come. the performance this also million the by pleased net environment with U.S. XX% we evidenced results are business of We're margins, reflect So reported revenue challenging the to the improvement the These as $X.X we quarter, as pandemic. recover profitability with in QX, where the than in impressive despite significant GAAP in and our

the over formal would on our call deadline. XX, to of update Before April not FDA enforcement thinking pending I reaffirmed period the the on Dave, enforcement the On wanted provide discretion turn that to we week, some Peter that XX, XXXX. the Director, Center May should May on At companies Dr. an XX, end meeting XXX would industry and Marks, extended NDA. not products CBER XXXX, under be commercialize an last after stated FDA

in a June of X. review market financial effective we take results and NuCel ReNu result, With over plan to me the let off a updated As press quarter the Dave David? a call in turn for the this financial the to afternoon's that, our balance financial release. quarter, of review end we and and the first of condition guidance XXXX our sheet at the

David Francisco

prepared a are Gary. growth you, our of Unless I'll rates during results. otherwise all Thank on year-over-year financial begin referenced my with first quarter a review remarks basis. specified,

As last $XX.X XX%. XX%. $XX.X of increase of $X.X $XX.X the Gary million of year, XXXX. XX%. Sports was Revenue $XX.X Wound increase for compared products quarter for Medicine Net quarter first XXXX last And million first quarter were was $XX.X an an strong an increase Care the $XXX.X to XX%. year, revenue of last first was or from million was $XX.X million XXXX $XX.X products revenue compared & of Advanced we increase to the with Revenue for year, compared products the last or of our XXXX an million from for of pleased revenue $XX.X Surgical to million million compared million XXXX million to $X.X or from million PuraPly of first to lastly, million $XX.X or million our quarter year, mentioned, our start

representatives compared sales approximately of XXXX. XX, XXXX, had XXX March we XXX year-end direct As at to

by to direct of XX% higher expenses COVID-XX. sales, basis expense direct quarter million to in for related last We of count, revenue and was in resulted was were to of travel was as in continue and gross first general or in The XXXX additional $X.X Operating primarily in by administrative to to sales compared primarily year, mix million to or an increase million approximately XX%. the XX%. offset first million marketing XXXX $XX.X increase to million of the a and amid million a increased increase end profit quarter $X.X with compared million expect XX% programs for XXX compared to and The period. travel the XXXX last million of Gross sales reduced in year $XX.X a quarter year, margin to first driven our Gross related and force $X.X in XXXX reps. $XX.X and the due products. for year, year-over-year an development increased profit The costs volume selling from our partially product XXXX million margin to commission selling, compared operating increase $XX XXX head restrictions was place of of primarily gross an shift increase last to prior of increase $X.X due first increase points year-over-year. quarter and due the increased in decrease well general $X.X administrative in expenses a to increase million as $XX.X expenses research sales a increase

our million. The in in of first costs The year closing expenses and our our year-over-year approvals necessary year, costs of $XX.X with $XX.X million increase products an the of million related to product operating of for for R&D certain regulatory was driven cost compared expense to the do prior office, an and last pipeline in $X.X by increase quarter which seek results. restructuring increase million included $XX.X an Jolla an XXXX with study products. quarter financial Operating income operating associated associated was clinical XXXX loss increase not of impact of La first also

representing a of XX the improvement was $X.X expenses sales, quarter first of operating for $X.X million year, XXX%. to in compared a XX% increase quarter year-over-year in related of First last gain Total the XXXX. or other million an of million million to $X.X due margin primarily XXXX was quarter percentage to first our increase points. margin $X.X litigation settlement This of were

of adjusted Excluding of borrowings compared year to our interest an this prior EBITDA million $XX.X lower $XX.X quarter $X.XX Last $X.X $XX.X share. $X.XX year, year, was the year-over-year, of or or increase for of quarter million loss item by to $X.XX income million by million or $XX million. net a expense the a Adjusted results, primarily the of $X.X to prior share decreased to of Net million per total XXXX $XX.X or an last average million expenses from loss related period. share. driven the of first period EBITDA first for a XXXX compared increase X% lower compared

of provided release and adjusted We reconciliation earnings afternoon. our this EBITDA have issued full a our results

Turning to sheet. the balance

lease million the million of of $XX.X $XX.X company lease million restricted $XX.X March obligations, December obligations, million capital XXXX. million and million were cash in of in XX, cash compared cash $XX.X as obligations, obligations $XX in capital of of restricted which were As XXXX, and cash debt and to XX, and $XX.X had debt which

an Sports [Indiscernible] XX for $XXX.X guidance. expects ended revenue increase now guidance revenue afternoon, representing in for The XXXX. Medicine million net to representing our year-over-year. to approximately updated from from XX% $XXX XX% $XXX to to million, revenue Surgical the million year XXXX. review of compares Net approximately and to of between XX% XXXX $XXX press net The net million. This we of assumes company ending of as & December prior million, range to XX% between release decrease XX, $XXX products net $XXX our XXXX of this between year-over-year million guidance XX% revenue Advanced $XXX Care XX% million XX our increase fiscal of $XX revenue months approximately an our revenue products December Turning revenue months million representing million, guidance year-over-year. XX, a range of $XX compared and and Wound of revenue a the XXXX to have

in we're and of quarters, PuraPly year-over-year. the the products to over expecting million of increase approximately sale from $XXX XX% the net last brand revenue representing an strong XX% growth given Lastly, $XXX few between million, the of PuraPly

supporting In addition guidance, like to help the fiscal growth community assumptions to mind investors revenue our to few for expectations the we'd XXXX. formal in is provide XXXX. a color investment expectations for additional for revenue This better to intended our also the when bear evaluating understand considerations

of for year amniotic net of of amniotic range, full our assumed revenue at company guidance approximately sales XX% year-over-year. First, XXXX now which the midpoint products, largest XXXX. revenue the This in assumes compares at the range growth be total to midpoint approximately year to our XX% which year-over-year prior of contributor growth our will our fiscal total growth

which This of the the assumed guidance year-over-year. group Second, our XXXX. to sales which non we approximately our expect XX% PMA midpoint form midpoint increase collectively remaining the of prior other range, and at year-over-year XX% the amniotic range approximately at growth non-PuraPly, products, of compares to in

through as Third, we steady see in a we COVID-related improvement headwinds move XXXX.

growth the the guidance second However, half continues reflects as for stronger of reflect year-over-year what year to full in XXXX for growth the XXXX. in guidance half first our compared the of to

XXXX, XXXX. As by guidance to this other for X relates the a to is driven One relates factors. our reminder,

second year-over-year Specifically, in given lap our growth Wound XX% moderate the over the the reported Care we Advanced to of trends XXXX, XXXX. strong half performance of the of as XXXX growth over business see second the we expect half we

business, assumes our grace XX, related in on we in Sports continue our expiration & an growth to XXXX Surgical while to expect business quarter XXXX. a environment operating in to our & significant fourth revenue XXXX our in benefit Medicine Medicine As second discussed trends guidance period FDA's the of earnings to headwind the Sports call, improving half the Surgical sales May of

from months XXXX over continues the Our ReNu XXXX. to continues revenue guidance X, represent to NuCel growth contribution the of assume last This headwind sales June beginning to no X products and a we for of to period. and With for $XX income million. performance adjusted positive expect GAAP XXXX XXXX financial report of to respect EBITDA positive net approximately the expectations our fiscal in XXXX, full

for financial In for some addition guidance purposes. modeling XXXX, to consideration we our formal providing are

you. million; million; diluted in stock other about XXXX. we an turn million; our G&A Note, $X.X full related comp period, full approximately expenses incremental in interest year back For to and restructuring related selling XXXX our growth California expense year our is margin million, the million first the shares XX% $XXX $X.X I'll operating XXXX full expectations. of to of of million; average expenses quarter year-over-year, $X $X approximately expectation increase to which GAAP expenses of approximately the our gross CapEx revenue to include expect to expenses weighted approximately that, for approximately of approximately and of With reflects $XX million of This noncash initiatives. La XX%. which increase noncash our Total facility, of of year margins related XXXX of Jolla, which operator, compares XX% approximately -- occurred of approximately the operating improvement to call approximately XXXX year-over-year. and expect increase gross approximately prior $X approximately X/X GAAP we Total the

Operator

question the Miksic Matt will from first our of Suisse. line come Credit And Instructions] from [Operator

Matth Miksic

and strong revised quarter really a on here. outlook congrats And

follow-up So top on some one line P&L. the one trends the of had question I on and

the Maybe it's ability if So and the still sort this going in But think that of ReNu terms deliver one in confidence you of and of pretty ask also -- -- the Gary, us more from comes maybe, course, guess, beat. impressive I time. could that year any that I confirm if -- where as these much than where selling clarify could of just not really walk to -- upside the left of dramatic your I QX. again, NuCel. raise, the -- the you're through this a at to raise more maybe full products, to you welcome, and what gives guidance to And Maybe talk X be you sort change point. math, this raise to

Gary Gillheeney

Sure.

of if at was the right product X as that on before areas you late probably all of QX. PuraPly the did change all in they out fourth important our see those it out we And in we products and performed in now growing well. positive And had focused the as they would we continue X to very think all guidance. of I well end to the products trends know, is extremely that they're launches, So QX. in the are for Obviously, grow put most quarter, QX. PuraPly one XXXX extremely right And came in

So continues It part discussed we've confidence expand our that of to as sites strategy. grow. multiple the that of of lot a brand gives continues as care us in to

of lot So us that's given confidence. a

amnions to grow. Our continue

Our we're year this way capacity versus of And X.Xx capacity, Affinity is happen. on have XXXX. to goal to the our seeing our that

goal produce comfortable the pretty of now right we're X.Xx. So will that Affinity be we're that amount meeting our able of to

in Medicine quarter both wound the some outpatient positive started Surgical as the the we I X. in well. to improvement of Sports for And of the combination seeing at end region depending see setting So particularly in area also And and May upon the in care. those trends think access, we're the & trends, in

us pushing in one positive the kind our not don't that our of are got tailwinds business. business, more given broader along, aspect of of that's Dave. just confidence we've part So us know, I lot of a just

Matth Miksic

That's super helpful.

David Francisco

just -- X that's over PuraPly confidence and to well. the absolutely quarters last amnions agree. think as the of I you're really strength No, I increase mean, it's bit I quite in us a strength the that right. the gives

Matth Miksic

that at to way I that the jump would guidance mean, before They've the enforcement act. framed maybe clear, forward commercialization or P&L, Is do then knowing just post to I clarify, quarter process they didn't And really of how your last to mentioned, which follow-up just just about And what's these are products? FDA for where you the include could. products that like the I going as think in I I if guess, the think XX. P&L, Or here? not the we quick May end one I have more industry been I risk on

Gary Gillheeney

think interpreted you've I No, it correctly.

it get think these process. until you ends BLA for the through I products and

So certainly, assume, market will be fewer in BLA the products, approval. post I

sure through clarity is as confusion sold any there's clear, So our many the focus should get XXXs that a been make possible But to as trial. as quickly post lack think resources or any has XX. not to FDA don't it's The I and longer. can put trial be as May we successful of

Matth Miksic

on has I the P&L, products Maybe -- of other up if behind side support to enough. of past raises with, an the Fair but see almost could plays the The interpret catch couple area value the where Maybe out. this Okay. have is these of we'll or times, quarters, that that. how your that, on the at comments it's that too the strong been, spend sort for strong. of over in to you of really growth

a QX be be there's QX. exceeded any of trend. thinking year, for first should modeling I the year, about Or showed but we maybe in And of should sort the outsized to you of EBITDA talked shape then last Maybe or back we catch-up You here here how the that help spending gains positive you've in growth about understand the of moderating. there's expectations or this full some quarter. in more that idea pace in think again a some number half us EBITDA -- if if in which

David Francisco

Yes.

a still some about you near have nowhere did the for But give Obviously, was guidance we XX% that year. recognize the that COVID year-over-year on did QX basis. savings. we full So up

lap that to increased have add continue quarter, on to next we to to So reps. little and the continue light, on increase and spending some as continue that harder And we'll year, to see and commission we so as then we And grow to that incremental additionally, continue And on continue we expect will we'll then throughout not cadence standpoint. those those the spending well. R&D also it a expense. expect push side, clinical savings was

Operator

question from the comes Ryan next from BTIG. line Your Zimmerman of

Ryan Zimmerman

that And bit pretty then could seeing the in strength little second question this bigger question, astounding. share you're the Gary, the I public. guys it a Really you XX% in ask maybe with market because that performance initially an are was part been? view around Wound XX% all Care, has Organogenesis, it uptick And it talk this outlook question. growth Advanced just seeing, seeing reflection here, that of you is you changed it Is Congrats. in at your if think, I was think in revenue seeing longer is, you're But about numbers, the Or of want a when dynamics? a given longer-term how to to picture a outlook dovetails impressive. for is the broadly growth mid-teens. then we're X-part strong of that the I term, became

Gary Gillheeney

you. thank Well, Sure.

came as on of think growth first more product bullish we products When result in gets those obviously, So recently guided our as relates we're grow. were comp launches. as the a new of the we long-term think we not Obviously, I to to the to revenue this growth, hotter to grower low the it our year. continues success a out, little have after market. But the company's mid-teens

been you for the years know, next and over is helpful, if the mid-teens thoughts? think and that's I -- think we to company. possible I still several low Dave, very any So have grower don't other

David Francisco

well. be standpoint law as numbers, the moderation at right? So from mean large I there moment could of this Yes. that too,

Gary Gillheeney

treating number And accounts of of definitely we as the customers, number the we margin shift a feel -- we're patients our favor. when acquiring that there's we're market in think a that that I and see

in we So definitely see market. the that happening

dynamics from of And competitors the to some some reflect the of other that. seems other

Care products also offices Care starting with types with There's are and the dabbled that market. expanding lot office channel, have we starting expansion now Wound in our in participate a Advanced really to care think We the are of wound to think more Advanced starting and And in the that to we something get continue educated products, more wounds is of grow. and patients Wound that will office. in treat to

So just of about that shift and channels. market it's for before. market physician in some with we've never to the combination sold we a that share again, we indications had and And we expanding -- those multiple of often markets serve the before that specialties never talk sold now

it's that, is to the really helping of of So drive that all a combination revenue.

Ryan Zimmerman

introduced. clearly work as Okay. demonstrated enough. you ability And significant loss were the the the you've that And we of I pass-through. to pricing headwinds then about given the mean facing think products through PuraPly, Fair pretty on headwinds, with

wondering And so through. forward in of face headwinds -- in pricing headwinds, talk of strong of I how quarters you could was kind really what from going now the you PuraPly bit of about adoption think growth pass is light about beyond if of these of the the X a these loss little

Gary Gillheeney

the office. care that of multiple the sell PuraPly the obviously, with in sites sell We mentioned We often. in hospital a of I've it, lot today. Well,

for sold physician of sizes types in different wounds. It's different multiple have We specialties.

utilize technology young still introduced product. and the to could that physician are is getting market specialties this the The this procedures to for the technology continues that advance. So

grower So many for we to us for being see a come. PuraPly nice years

Ryan Zimmerman

Congrats again, guys. Very impressive.

Operator

line from from Leerink. Your Newitter Richard next comes question of SVB the

Richard Newitter

start the regulatory Maybe performance. for have rather understanding, a what in smaller a guys little have going off like opportunity players my means that industry quarter. is nice standpoint your about that Congrats go I echo, of you what the so stop. from change does what you others that are share and Maybe stopping increase? selling to into for mean the selling away. to means this than much an talk to In to are any potentially from and stop who bit can Just there guidance that that that that on just on selling, lot incremental factored products of And were gain guys

Gary Gillheeney

of into none our increase. certainly, factored guidance it's Well,

We haven't is Not to BLA change a May guided there's down in the clearly, -- market. going pathway. to XX. going post But be going any sales the to be everyone

So other there'll side. fewer like to on Obviously, the certainly on our on positive be would other think our is the BLA. successful that's we if market with a products We the expectation we're side thing. be

certainly thing. So thing a us. the positive a us we today as business In think just as of it's a painful interim, it's for for not It's significant others. some

going mix little the think based the to it The there's question, a immediately particular pain without fewer, So revenue be But in for the I post BLA. then be much revenue company. on company. players will depends on different that and how of market that is of part

Richard Newitter

And more to past, creep a get PuraPly, PuraPly it million continues Affinity based like just Affinity. And could looks you outlook thought PuraPly, eventually our higher. in math believe XXXX then the figures they will and than on be in thinking Gary. Easily beyond. and that your you In PuraPly said, about product as I be $XXX sound

So I there that PuraPly on appears just level correct? comment outstripping constraints did And guess, Affinity, do one, like still demand that quarter to then when the holds was the self you relative And -- does supply? be capacity reaching? any that this to such feel that were

Gary Gillheeney

success over product issues PuraPly potential had our largest be of PuraPly. a making making that supply. as of Affinity We challenge with I But it's PuraPly and no the are the PuraPly. for and about we're sure more to our question those that a more on of important see But still feeling said, we to be certainly based it were to certainly able note we're product. yes, we the to about has bit time, a even the increase We organization because more to to first be your capacity we challenging. commercial so want good little too for our we is to surpassing actually pretty do the And reliable want happen it success capacity, that believe supplier as that capacity customers. to amount where is with to we stable today. yield of we increased our that allocate before increase units Though, our

allocations, is very going capacity sure capacity make up. starting but going our that is We're to that, forward. to increase So cautious sustainable we're

Operator

Steven next the of Instructions] question [Operator line Lichtman from Oppenheimer. Your comes from

Steven Lichtman

quarter. the on Congratulations

touch to base amnions. wanted Just on the

year you that You're to set building to franchise? this how Novachor around still you your build of success year-end? are later the Gary, Novachor. believe, on And launch current with see for on Affinity, upon target do I

Gary Gillheeney

do end year. We 'XX. It for really -- launching until excuse won't be be Novachor the the -- Sure. contributor sure, of very probably me, 'XX, to half end second the of PuraPly expect a at

you Affinity. with So as may Novachor manufacturing facility recall, shares the

balancing So both of products. capacity we're of those the

Affinity, little sister certain So we see product, a more types. Affinity, it unique. in the Like properties. as it just utility unique Novachor a being than different bit so wound has little It's has

wounds. both So us does and it and gives us extremely sites perform will options more and it think flexibility well gives in we flexibility. types of of care And Affinity like

be that we're comfortable will in So Novachor a contributor and strong pretty beyond. XXXX and confident

Steven Lichtman

has synergy ahead. Biosciences -- on we on thinking either opportunities or mean, Great. I business CPN potential bolster of And the your to and about guys. the acquisition for for additional obviously, looking secondly, side the be either then solid EBITDA, a of should just a been additions businesses state you given

Gary Gillheeney

channel, certainly products add the for this our existing reach the area Well, in and extremities sure. the trauma only We're as always enhance we're well. continue year, portfolio area that And will That's certainly portfolio into with for to not pretty for as to office of expanding our in exciting able area hoping channel and business we'll to looking side be we're our the expansion that well. strengthen us, portfolio. like surgical but our and a which and opportunities for we'd increase to

Steven Lichtman

Congratulations, Great. guys.

Gary Gillheeney

much. very you Thank

Operator

participation. conclude We are conference does that in queue. for questions call currently time, for showing no At today. you the this our your Thank remaining

Gary Gillheeney

you. Thank

Organogenesis (ORGO) 11 May 212021 Q1 Earnings call transcript