MSON - Earnings call transcript Q2 2021

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Operator

Good day, and welcome to the Misonix Second Quarter Fiscal Year 2021 Earnings Call. Today’s conference is being recorded. At this time, I would like to turn the conference over to Norberto Aja, Investor Relations. Please go ahead.

Norberto Aja

Thank you, operator, and good afternoon, everyone. the XXXX joining call. quarter for you Misonix second fiscal conference Thank get minute questions. a in management’s We’ll just your with started comments and But me the before let minute doing read to take safe a language. harbor so, webcast and harbor safe the of of call within the contain Today’s provision meaning U.S. the statements forward-looking be periods. other estimate, Private likely, expect, can XXXX may, Securities similar such words should, of Act by Litigation and references future, future to as Reform will and identified anticipate, believe, guidance regarding and to of forward-looking statements Examples include results. financial relating statements our

call press website. to like today’s well non-GAAP in found please and publicly Forward-looking time forward-looking Because made ahead. and neither rely information, of Stavros, may When I’d go of Vizirgianakis, the with be inherent not time, circumstances. update to future that to measures historical Today’s are can the non-GAAP reconciliation accordance meaning future these statements company’s in the result CEO statements, facts obligation any developments as are should the a required, Regulation to nor forward-looking be future, within the on of President any forward-looking all statements of from and assurance the uncertainties, on as With company in turn as subject Stavros the to release whether a undertakes over otherwise. now changes you new performance. measures SEC that, call of risks measures and Misonix. directly of comparable statements relate G. to GAAP most or financial to webcast financial financial include no Therefore, they

Stavros Vizirgianakis

you today the second review you, quarter results. Norberto, to Thank for us joining on and call Thank afternoon, good our everyone.

Financial call Joe Joining today Officer. is Chief also me on our Dwyer, the

and a Our results business demonstrates ongoing COVID-XX care a impact has quarter of second resiliency environment on been Misonix’s our of industry for as much the whole. to what due difficult the health in fiscal

taking to our meaningful these the measures operating exceptionally that our adjust consider well so to navigated strategy reduce strengthen temporary these by expenses, mid pandemic in long-term early trends. and have We challenges non-secular we on flexibility financial

in Misonix made strategic in total profitability. have market further yet quarter-over-quarter result, revenue the the constructive to strongest many we At a of position and so improved we health tough regenerative same gains care surgical drive providers the and reported that we’re time, and products As significantly possible and challenges adoption pandemic. decisions share of and growth from emerge the our sequential as

wound treated have before wound to begin look unprecedented financial hospitals, an the constraints business, me work our forced alternative strategy Joe delay to Let postpone call the we centers driving care. of done have our These or financial business. Taking and treatment. of patients as our to results estimate side care as on at and providing his have in to over sites by patients being many closures, review he improve that business XX% of handing temporary the been combined to significant update on with been team and a the

offices, to care believe complex the back continue have patients however, will, that towards temporary that is us. priority diversified a migration, see we return wounds. result, in a manage the view, We our you as an expertise for a As physician albeit to ultimately not wound where chronic that a one is area centers, to

offices, to us, more compared physician. more for given to fractured Both patient care when economics on their physicians’ tend present by aligned expand wound a growing with our the strategy to much which franchise and of hospitals development and and ultrasonic opportunity wound business focus leveraging care the the long-term quality outcomes remains technology prioritize centers. footprint firmly the efficient across are Our our best-in-class to

XX%, no over second revenue from we down of had wound that during SonicOne of go when COVID-XX. to to health fiscal by quarter compared over overall the XXXX second the once revenue practitioners, able XX% impact view hospitals XXXX our that fiscal are increased was our growth to quarter This as the While and across care wound return our segment. technology that value entire unrecognized will patients ultrasonic care does and proposition centers, not of wound see we echoes

ramp coverage and OR, payer SonicOne are another helps and us TheraSkin end, extremity later lives. take confident this that with our presents the when enable our payer To lower sales that is commercial and for continue for by we the our expanding reps, Moreover, coverage as to We all absolutely have market share. will levels approximately is million increase facilities second access added announced big opportunity. in us five covering that now RCT we of treatment wounds, complete year. additional displace securing securing and U.S. our coverage XX to access TheraSkin’s to which additional the December, competitors from look to and up we coverage of the forward that vaccine physicians largest vital we two now to significant payers,

more confident still grow before while headwinds cases one that bring and business metal diseases will debridement, to orthoplastics begin range experiencing of and ability the profitably. so bone manner We to we market summary, should cutting are the as work our we have new segment of skin is is our In products on extremity to package. there of are by well track as do be in excited initiative happy quarter. to offering business in all currently foot done, a early lot The the March, tackle Charcot end to such substitutes, to comprehensive of wound and fixation hardware, to the a a as completed and we’re announce in more

Moving over to our division. surgical

both the of the with appeal Nexus This SonaStar are almost BoneScalpel of adoption a as including and continued continued growth. revenue growth We result XX% very domestic of well this franchises. segment, is pleased strong strong as

which of more and rep degree we future. in forward high addresses spinal spite require look contact. the neuro division of near a in wins Our and In have we access, challenges surgical to IDNs, regarding complex procedures, and the prominent surgery, including significant hospitals

with we in at our Virginia, innovative microdiscectomy to hard new portfolio. that two ultrasonic a in national one surgical we’re in later before to and launch As To our sites, bringing wound, and ready in at work market the on end, are one Arizona year. rollout the products

neuro. healthy has the drive our helped the as to has With Nexus, it’s do most been XXX both Looking units in and regard headwinds we despite the results and XX% significant as are Despite procedural better-than-expected hospitals. they and comfortable sequential on fiscal profits our in the critical touching we ability prior spine that revenue that ahead, remain our these on to came quarterly some not headwinds, improvement. confident by long for will will have both are we And prior stated placing achieve with shutdowns spine showing XXXX. significant domestic to and volumes further international we significant at neuro year as generate wins goal brought over secure platform the clear of pandemic that business, expectations below

as travel overseas, calendar well particularly elective growth do Given and return to business not the force, a doing to in sales surgeries, of direct without the the until cancellations lockdowns later XXXX. difficulty segment expect we in and see as on the new to constraints

hub-and-spoke generate hired further have and attractive the very earlier issues resources salespeople ROI we chain. force, areas an sales to without that hiring business. on behind our advancing and – of approximately execution wound our placements, we to product Nexus we bolster supply reflects accommodate strategy. requests comments business, of our XX vendors our tenured and Quickly are our commenting and belief any us, are The can ability our with control, controlling value on commercial new our from in pipeline my our in investments. regarding Any added summary, squarely improving to shareholder sales these and In our these any Regarding focusing disruption. confidence including continue wound our

surgical like we turn With over to growth pay a our CFO, to our call marked now volume see recovery the off work Dwyer. expect further and wound. Joe? As I’d that, Joe returns, in in to and

Joe Dwyer

with Stavros, top good line everyone. performance. afternoon, Thanks, Starting and

quarter with second the Second on COVID-XX. million in brought million quarter reflecting by revenue ongoing compared headwinds decreased X.X% the to $XX.X XXXX, of $XX.X

our we’re progress the the with pleased mentioned, onset and the of since of Stavros revenue direction As pandemic. the

as We’re continue improvement to hopeful the to that begins slow. show pandemic trend the will

compared We sales. is in ability due of the sales with margins, second are percentage XX.X% with healthy in XX.X% to compared coming The to last while international part also our pleased show the line year. maintaining domestic heavier contribution the margin with of top improvement quarter with at second in quarter gross improvement for a

all six have savings. has months expenses or XX.X% to business. year. aspects the hard additional various The operate $XX.X in expense Total Moving to place during of million reduction more million to down efficiently resulted operating of to over extremely effectively and last reduction put The we with of operating to last in our decreased the compared have second second a the XXXX opportunities significant initiatives quarter worked team quarter find the $X.X expenses. nine across

In $X.X prior EBITDA million quarter positive this of our second million year for the Before or moving million a two $X.X year XX% quarter, second with million at a of on, our the $XXX,XXX quarter net year. or out $X.X bad charge. million and still the million year compared prior the contract we second collection that second at to during quarter positive reserved while loss $X.X a period, second of was included quarter for expenses these the $X.X a Chinese with in share per quarter. of the previously period. adjusted a the recovery of to point last remove items, $X.X of share of million a compared a net year loss the I debt $X.XX included last want asset second quarter of from EBITDA $X.XX we compared current $X show loss the per in for, decrease receivable reported If loss operating was in net

We’re of business as results, continued that our are is moving improved profitable see we in achieving pleased on that goal the has bottom growth. with we this direction proof driven our and our further the line progress that path right and towards well

September XX, and cash our reduced XX $XX.X quarterly to sheet. $XX.X We burn XXXX. in to we I’m million report with million flow at on at further balance again. have cash happy December cash Moving that compared had the

second $X.X with $X.X million. million our in fiscal cash of and operations were the year in for only second, and cash compared was operations $X.X the in quarter, third used last $X.X For million respectively. used million, our million, used first of comparison, quarter the cash $X.X fourth quarters By

we quarter, delivered move term renegotiated our that cash of preserving out to June our XXXX on borrowing see maturity the year by Also commencing we’ve the can of and goal by continuing the lower one burn to you to XXXX. rate the second and May million principal cash. facility through $XX X%, extend So debt during payments to reduce to

As of any XX, term don’t loan. loan or bank have December debt we from current our

PPP the by rules, being loan extended new possibly that has also to loan been SBA forgiven. Our repayment subject

guidance, global with we care near-term with to centers, sheet the the our value. more questions. fiscal it of that, challenges of to be cash, second the surrounding in create that balance positioned continued Operator? XXXX guidance efficient impact hospitals ever the long-term and formal the to procedures As our turn withstand business relates the given and better this healthy operator over prospects of $XX call wound to invest in closing, we providing for pandemic structure, COVID-XX like a position and will a both time. With and In I’d with million entered not operating uncertainty the at leverage we’re confidence related than our over the half the shareholder to well to added to and

Operator

we’ll take with Capital from our Alex Nowak Thank question And Group. you. first [Operator Instructions] Craig-Hallum

Alex Nowak

that well Good the market. you everyone. afternoon, you’re market? obviously, above could The in on there, Great. to seeing surgical expand Maybe start, the growth strength the

this with neuro the from new spine placements? BoneScalpel? Is it the Or of coming is continued from it launch penetration in just products, is particularly So coming segment? in Nexus the

Stavros Vizirgianakis

Thanks of really aspects when are we the Thanks, for a Alex. question. seeing strength look We at on the number business. surgical

in proposition seen as upgrade both the value continues as and grow well, to the to of continue continues acceptance accounts penetration strong in BoneScalpel accounts, placements resonate I terms side. and we’ve in getting has a of rates And Firstly, we drive to well on community. competitive been existing number particularly the demand Nexus neuro accounts. think spine widespread where

we’ve the the with launch the confident working ability products. there. strategy we’re been Nexus access is So and Where our really execution that challenged is is sales overall well new to with team and with

new that as open Nexus of we up, we’re been the gains. the strength now, neuro As the about think see I in platform And as these as we’ll procedure. tremendous the portion And the launch upcoming delayed. has then ultrasonic right microdiscectomy But months. seeing the rollout products you spoke of know, things of where it, coming is well

Alex Nowak

great. guess, that’s there. on go to the what’s of be And place hear to patients somewhat reopen? trigger office maybe about physician segment, back this from care I go get clear place to slow the some centers you the this year? is No, And just taking to trickle to wound office. physician of dynamics as you and expand the transition the over calendar Or to clinic the to loud back the wound it care takes wound clinics? from But go a I going server do think the patients transitioning and

Stavros Vizirgianakis

Difficult to basically are a occupancy fairly of see but lot number. they I open, reduced at operating because think a centers the are

I to that think see the more impacts back centers because one these a coming wound excellence. centers population we’re the think as going more the of are start really lot seeing gets of we’ll I vaccinated, to patients of positive

number obese. diabetes back. generally many much so they’re these from comorbidities. portion the got are, other a ultimately These a to that’s suffering and where for want these complex You’ve higher And And vaccinated, expertise go of centers of in are patients these once population. people think I managing risk cases, in They’re wounds.

So when vaccinated, care wound ultimately the to them level their just I I returns, overall, confidence and of back see think safety been having think, we’ll there’s coming the centers.

that, We in going to we’re all probably we’re probably bigger, second of half trends those the the So significant but more still think happen monitoring year, on that. the time. positive in pretty that’s way, a

Alex Nowak

going initiative. overall a rep’s end expand bit And an is on just maybe R&D? product? those licensed And little fit the to understood. internal the that Or products That’s suite that in Okay. from product orthoplastics within Did bag come how wound? explain be

Stavros Vizirgianakis

Right.

So a play that’s more in of the really surgical OR.

you The hardware foot. we’ve a focus from this population, the specific today, a these our patient when to physician if third with – patients we opportunities. biggest looked from another is look these at Charcot one have see on procedure we’ve company, done So at And possibly we source from company. what debridement in cases, performs tissue company,

was really debridement everything vision The developed put to to do was obviously our anything So together. internally, with the ultrasonic.

the cutting bone or orthopedic debridement. either agreement distribution The the for talking we’re whether or And So tissue is what the bilayer. is a hardware. TheraGenesis, done we’ve signed TheraSkin we’ve

significant market. not extremity but on we are So of we a trauma focused now have products, fixation the general range

we that as really to do that concluded. are a focusing segment segments, agreement We now. Charcot we complementary complementary foot very and what on see we But the right distribution is

Alex Nowak

come we’re in thinking, pretty No, expenses did for then just The Understood. than question Okay. lower me, great. dramatically. that’s for just And Joe. last what

a we to expenses basis? really for think Is run million what the how maybe pick about bit? rate that we So expense go-forward of expect reflection on a should $XX good up Or now? quarterly should a –

Joe Dwyer

we’d I to pick it had a quarter, In think we the bad up. debt expect reversal.

was the that quarter. a So benefit to

$XX complete the were into million, – will at fourth back our taking $XX you’re some third $XX we to happening added which quarter going range range. be expenses think third and probably that if out the $XX.X assuming million-ish in the I So quarter, million study, million, the in DFU and

Alex Nowak

Thank Understood. you. Appreciate Okay. it.

Operator

take a from Canaccord. question Kyle And we’ll next, with Rose

Kyle Rose

for question. gentlemen. you Thank taking afternoon, the Good Great.

Or us to adding understand, I for lower there. just on – broader stay help orthoplastics kind ankle you going here? guess opportunities asked Alex – just mean, in it to is – and this extremity side? the you are foot just of because the you just a can additional envision hardware you can side Charcot well, put with to that, I So hardware bow do Maybe I wanted foot

Stavros Vizirgianakis

Thanks.

question, specialty. to or this segment orthoplastics I it’s really see preliminary our think as be emerging market. This For Kyle, entrée into determined. We an the the is

that at arena, adding successful is initial look So think If we’ll certainly in this applications foot and we hardware opportunities. other at entrée opportunity. we’re that looking in into Charcot other our

months, we Charcot I focused so XX squarely probably that think because everything do the with complementary on for strategy. it’s whole we’re next else hub-and-spoke foot to the

So short we’ll answer is expanding well, certainly this. to be determined. If it look goes at

Just being a and of perspective, from a do tissue to to debridement a think maybe $X,XXX I $X,XXX from adding to Misonix revenue this legacy opportunity. takes bit having cutting bone opportunity, then and on having a us perspective, able

the hardware, the us opportunity. now it into with to procedural puts $XX,XXX Now $XX,XXX

think to return products. the our maximize to is in rep I presence do OR So on we’re what looking complementary with

about from we a business, and subspecialty but we don’t So this be gone our to exist could ourselves distract we’ve grow this, the of – think thought that team. Misonix also core sales we can want sort within that

Kyle Rose

very That’s you a I care new on XXXX, on products. some – think basis about helpful. launched wound calendar data and When appreciate go-forward have there. the incremental the Okay. tissue maybe you

calendar I really TheraGenesis the to contribution about as tissue new you’ve should the an do talked the see XXXX? drive a How You expect of of to know start you bit. over products course we got to amniotic expect And trend little tissue when well. revenues? incremental product

Stavros Vizirgianakis

Yes.

least. we’ve Kyle, portfolio launch to a complemented in to nicely. The problem challenging product that, has been has the pandemic with think I new trying the pretty been say

value-add calendar and launch the going centers. June, different quarter think care and probably in and I we’ll our first through hospitals that wound up So to mode remainder within for committees of be

revenue half calendar significant a really revenue an ramp what second I think year. is the So of we’re from factoring internal perspective, in

the issues out sort a we products that hoping then sales team the and months, on the basis to five like can launch fine-tune national we’re around really over and strategy. reimbursement the products full So next

just So that OR at in that between out see year, for competitor contribution. million to the we we is product, second the the there worth probably $XXX can exists half significant if the opportunity opportunity $XXX that of Matrix Wound today business million Because look with products. of Bilayer anywhere

we’ve an pandemic challenging, very a So evaluation, in board phase on everybody seen same just aggressively. in get competitive, to But product very early our product the to what is priced launch time. the at the at is

to is everybody team what our I we’ve sync. march get to think with wound in and been in aligning step trying

perspective, significant ramp say start So second the year. I a in a of looking would I from at would modeling half the

Kyle Rose

then but me, And more I Okay. side. but mean, one surgical is for just obviously, you the on U.S. surgical new product really performing the back do have some going the side, launching. well to business

You talked side. bit little a microdiscectomy on the

new launching what you’re pandemic, as the you about to moving I XX% well. products. the the what do I should comps? some new The how forward, growth I to think when domestic hopefully. think additions growth should pandemic particularly those we rate? the about you’re lapping you’re How the think we have Despite that surgical. already do fade mean handpieces growing like mean background, in looks

Stavros Vizirgianakis

be Yes. determined. to Yes, I think

We’re final phases in the of locking design. in

the calendar the and new So year calendar now the launch quarter. fourth really quarter in of right third objective to is handpieces this

handpieces. the we’ve in especially space significant in most ramp and on a in the seen, the what last terms additional is the one So of something neuro quarter MIS neuro space, then good

to are MIS handpieces more we spine really And I of approach our level. with the level, fortunate And for more I us flux I innovation. looking level above products think think bringing take of specialized pandemic, surgery further that’s your the If accelerate enhance So think There’s because us overly that in point, this could lateral into at MIS. the And could think grow bullish. state for But that there’s next customers things don’t proposition being be is really where value given look the at this to these think want been significant XX% to we some I facilitate is the are to we’re help what going going, to we are things future. we’ve these XX% and stored be done. that work.

expect get time, think of pay because seen this we steady-state it’s on the when we’ve can in if take I north the manufacturing quickly. and just handpieces. rate pretty a question value perspective. not going think willing we to I But that We’ve our these to into surgical could be They we a to hospitals unreasonable XX% from handpieces. launch been it’s do and them a that scale over growth to help the how quickly push are for able to side see marketplace, of scale manufacture actually up scenario,

So moving these handpieces, because needle help things $XX,XXX more the the the as start you into mark. could move ASPs, get towards specialty

of So significantly. moving have the a sell to to number of you hell don’t a pretty them lot sales start

Kyle Rose

very you Thank for Great. taking the much questions.

Operator

we’ll Zimmerman [Operator take Ryan question Instructions] from BTIG. a with Next,

Ryan Zimmerman

afternoon. you questions. taking the for Good Thank

to little given a for the I on that will further around this a metrics Will margin initiative. have, downward of you, So initiative follow-up the impact get the hold from ask a Stavros, want you distribution agreement, a just gave takes revenue on to as few be opportunities. margins? bit? pressure floor, maybe, appreciate I Joe, some But this little is kind Charcot foot it there what the

Stavros Vizirgianakis

look we in distribution doing got – want think we’ve look the actually that take since a we And deal. as organization. was one is margins criteria top that’s involved and Ryan. to we that at center I a I And Thanks, when agreement. maintain that Yes. thing the the our distribution an I’ll of probably at couple

see margin. we’ve it’s to XX% partners, I been although value have to strength distribution and worked partners, able in challenging hard we’ve distribution network. our think with the And establish a

the XX% margin. to So to with been growth some we’ve able haggling, get

So extremity new frames, or to the fixation Matrix Wound the like XX% margin. we’re able product, tissue Bilayer that whether we’re talking maintain

we the bit out start get unless need maybe with open goes it willing criteria we us Being transparent the find things very being So to I what right to the partner. beginning. not take certain in from to a and longer to and little a minimum the partner business think as upfront

at no a distribute going a give it’s doesn’t, view is it these products. of to our if So changer unless same us are the incremental game margin. But reason it complete least product. There’s to be

So offer to strength and we where range in be the OR procedural having really others difficult of a a of we replicate, the offer an not think able of our organization. as the And and that’s lot product to it full ultrasonic person having offer being solution, would portion it. for

again, want to leverage we’ve an that we So earlier it’s always view these that the ultrasonic think point, but side We products, about relationship like things to to it. are said products. frames being And commodity more commodity establishing beginning. I high-value from

in So from is only we perspective. The a don’t always see investment any thing margin an there’s drag inventory.

that couple done to a dollars you feel time our differentiated pretty be that for commit the I spent these offering of in because hundred some in $X when nobody these even million But procedures. can performing lot new last over it’s has value So year. we’ll with of And homework match. proposition or that we thousand physicians instances strongly the been we’ve just think are businesses. that of we’re A our marketplace else

Ryan Zimmerman

Right.

to Okay. when and care those those or not mean patients. few if if force, your are that foot the may are taking on physicians and of ask patients, I because ankle the care taking kind in think guess of maybe about I could. call types that, terms you wound be more patients, – the Others podiatrists types some of of I doing care think I of composition want a I of those wound about specialists sales questions physicians. what’s of point

wound patients? X feel the range backs carrying around segment really the hardware transition across of And that need it portfolio to offer office you line so expect boil a all within when that’s going we I thoughts your maybe first after in or lot of is just and the mean, kind tissue of may question. you those you on? products second the you’re I’d how And the that of the are love cross-sell think up, get kind and is there. question focus it base about Sorry, do I when it the can to this around guess to of that, of – full down, reps your complementary questions peers, what relative customer that given Or that you to specialties? need different down to trying some

Stavros Vizirgianakis

just lot I need do answer down of out anything, detail. focus what me to A we But for on us, whole think to call don’t If thing answer. I else boils Ryan. the

doing day I I emerging we is think all see specialty. that look This orthoplastics, if we think this our something not is at an reps on X.

– So after. we’re which we are of of after which very, going segment our us. essentially we’re facilities the after, people We know market. specifically go going with know we’ve And physicians got to a very approach targeted sales which we the going we’re to use

also sales application management when to in really, some experts of hire additional specifically the and really people, specialists and resources Charcot it that we’ll we’ve of augment frames. foot to hired the to are So continue comes

really, ones these introduce with sales get some want ranges work So to within of will top of And salespeople an targeted specific surgeons. these accounts people are performing to the that opportunity be going group, to force. better our word, our specific a elite in the targeted for

So this general is approach. not a

bags bag number if the for instance, in only into every super a of like Whereas select single salesperson. frames, it’s particular, it’s of products and well. salespeople look going as go orthoplastics an to amniotic So go specialized, of tissue because you into the at would that product, with

So a is about focus we’ve it been that’s the approached we’ve that losing on that pedantic something focus the from just core way perspective worry, because I business.

our to business. has enhance this So got

anybody displace and provide can This looking an in a that subset to not to business. is patients. extremity service meant We’re small the offering to of nobody fixation

are surgical these podiatrist. So your generally

are wounds foot that frames using Charcot So not offloading. lot and again, are like advanced surgery, treating of a podiatrists doing

So we’re market. approaching the that’s how

you In terms value a of of need portfolio, of is to more win in wound as which of relates now wound a what the of variety and the that business rest general think need for products, the settings learned a I you a variety of different than we’ve propositions the owners question, more to year, care.

look centers, care the the that about and if heavily it’s think So we’ve coverage. RCT. we that, And the RCT, seen XXX-patient at we’ve in the really I wound invested a was shortfall,

And XX% of we been reason COVID. TheraSkin wound We’ve five are now, think any disrupted have pick the them. a lot covering up and companies local up by We’re don’t what plans covered, care way payers But decisions the obviously payers, we are. Medicare centers. run their the get the these right coverage that also patients two we because that private we that private-ensured private up the trial. of that about these insurance think when we’ll in there’s pick major patients, shouldn’t pick of the at now We why Advantage of through are but all we look and

of in that and So on That acceptance bigger wound care is also center. the more wound we’ve product TheraSkin heal the wound. your to being the seen said, this impacts more effective difficult the

for we as COVID. some product introduce wounds. complex Therion, ran done to that, partner find And to time started we the then we’ve and a commercial taken just like an had your less smaller, we’ve and amnion launching So that’s right into

products care were new wound centers look, arena now. any into or shutting most don’t saying, bring down the either So

that the strategy we punch, to an regarding reimbursement together, ORs, most really office So wound DRG, so economics that in centers. it’s seen win the what got about it similarly, it’s about to strategy the care because with you’re less X-X care, with slower a been market we reimbursement And that two office. under right range technologies the the right where our offering, are in has tissue or we’ve bundling in debridement everything physician’s good is that us not in the the And offering, for to gives the strategy feel we’ve been arena think than product products in really about the people physician. of of with developing for win good we’ve the setting the concerned the that physician’s more where opportunity product much

physician’s be business that we’re the WACs situation outcome something some business a patient. way, more we arena moved changes of physicians basis, office although So which will reviewed, as are to be difficult have the to products into specific where we see unless we that most setting care, sticky get inclined, optimal than of maintain don’t that them ASPs And quarterly to in more see more go change profitable for them the a that that going because majority and in for will when always them, on their against up a do and simply reimbursement as business. practice has business give that and to significant

how a that’s at how the we’ve in about portfolio. bit tissues we approach and looked So different little market the our

please me So I answers please, know. that If I missed anything, your let hope questions.

Ryan Zimmerman

was strategy into color that. the curious no, no. to That and about around hardware. good No, with very I get are the Stavros, the to helpful, think investors move it’s Because be going

around in but around wound year-end. Just kind the the me, about back realigning change or cause Thanks. hop segment, may for talk that’s the not And force how maybe could I may some strategy what you wound? maybe kind leadership and and wrong, I’ll within sales lastly But of think impact of your just gone. queue. did be in I

Stavros Vizirgianakis

Yes.

couple had made structure the a of of I beginning wound changes care we COVID So at the to of the team. think

Sales new lead let was well. Domestic our go. as the He the But did in sales the division. retirement to the gave headed up the of managers most And We division. Staub. people brought we significant Woody some So of we opportunity some VP whole transition had

to stepped strategies. about a think getting approach he’s same the disparate business things, everybody and that the So different got not sync having on it’s We in predecessor. Jay and than focusing his Waggoner in, obviously

the of strategies think it’s were some uniformity I having more in about team. these working, sales Although

So I was brings think Jay what which we’ve lacking in to focus and seen the level is past. of different team, a the maybe discipline

leaving, opportunity. think because a market that been go. and also people tenured of us, wound for disruption. significant in I So the people with an not We’ve lot There’s been there’s acquisitions opportunistic it’s disruption

also So we’ve bolster wound and some team. been salespeople the additional to opportunistic hire further

ask to confident now. I more had would to a of me done still you terms if months a the what think lot feelings But we’re to ago, there’s think I be be execution. done. in I my have So three There’s lot were, said,

the well I XX lining for next seems to up think be everything months.

do to products runway launch we if we’ve we So the don’t of that over think six and anything good but us. a launch wanted I the prior just got months, execute ahead

Ryan Zimmerman

you. Thank

Operator

there it or Instructions] additional that remarks. And [Operator management appears Okay. questions back queue. I’ll closing for turn to are no in further the over any call

Stavros Vizirgianakis

our and further by the has overall operator. our to various the the performance value and we’re leveraging shareholder strategy. it strategy, our as success you, to added as to confidence of an create go-to-market The health call ability work, company; relates in offered Thank as and our improvement proof confident well financial targeting. of that both brought in I’m opportunities today’s

support. like I’d thank during at for to really dedication times the as entire forward thank the talent for you, you and you. closing, Thank in shareholders, the our incredible us today, quarter partners challenging results and for updating team Thank Misonix everybody, our year. with as to time spending on well Before continued look and these cooperation XXXX and you, third we fiscal our later

Operator

And this you for thank We call. concludes participation. today’s your

now may disconnect. You

Misonix (MSON) 5 Feb 212021 Q2 Earnings call transcript