Question
What is the current state of Devine Medical's business, including an analysis of the product line and associated financial data below. Medical Procedure Division Enhanced
What is the current state of Devine Medical's business, including an analysis of the product line and associated financial data below.
Medical Procedure Division Enhanced Surgical Tissue Adhesive Surgical tissue adhesives are required in most surgeries to close incisions. Often, surgical stitches or staples are used, though these require extra time to apply and need removal at a later time. Devine Medical was the first company to develop an enhanced surgical tissue adhesive based on a new chemical compound. The advanced adhesive can be applied to nearly all surgical incisions and dissolves after use. While the adhesive can also be used to repair damaged organs, it has yet to be marketed in that way. In early 2018, Welles Inc., an innovative South American-based medical device manufacturer, introduced the only current lower-cost enhanced surgical tissue adhesive. Part of Welles Inc.s marketing strategy has been to insinuate that Devine Medicals adhesive is more likely to be faulty compared to their product, though they do not provide any evidence to support this claim. The current market for this type of product is approximately .5 billion (EUR) with growth expected to be approximately 7% per year. Financial Data: Devine Medical Enhanced Surgical Tissue Adhesive In millions ()(1 = 1.12 USD) *Product Gross Margin (PGM) = Revenue Manufacturing Cost Global Sales Data: Devine Medical Enhanced Surgical Tissue Adhesive 2018
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