We started commercial sales activity of the ArtVentive EOS™ in April 2016. From the very beginning, ArtVentive adopted a focused approach to the sales process, development and continuous growth. In the European markets, we market and sell our products through industry distributors. In the U.S, we market directly to selected University Hospitals and private clinics constantly expanding of customer base. We have targeted sales and marketing efforts to interventional radiologists and vascular surgeons with experience using similar catheter-based procedures, such as angioplasty and stenting. Peer-to-peer education is also a key element of our sales strategy.
Our progress to date has been significant where we have achieved 400 – 500% sales growth per quarter. Management is very confident in the sales development and our company’s expansion based on natural organic growth.
- We just received repeating orders from Cyprus, Greece. We engaged with this distributor in July 2016, and they placed their first order in August 2016. In April 2017, we received an unsolicited additional order from this distributor, indicating that they are very pleased with EOS™ and will be placing additional, recurring orders.
- We started marketing in Finland in December 2016 and received 5 sequential orders from the Finnish group within 3 months. Two university hospitals and three general hospitals are operating there routinely using EOSTM Plugs and Guiding Catheters.
- We received 15 sequential orders within last 12 months from the George Washington University (Washington, DC), including 5 orders in 2017.
Clinical Experience and Publications
- The ArtVentive EOS™ Plug has received a high praise from Italian and Spanish physicians who routinely use our product because of its superb functioning that provides immediate occlusion of target vessels and has minimal or zero artefacts on CT scan or MRI follow up when compared with other embolization devices. This feature is getting a lot of attention in the US. The Italian doctors have also recently highly praised the feature of no artefacts of the EOSTM Plug in particular in young patients who may need diagnostic CT imaging later in life. The ArtVentive EOS™ Plug offers this unlimited opportunity.
- The economic and health advantages of EOSTM Plug are significant. New material has been recently presented by Dr. Leiva, Madrid at Spanish national Congress, CEFYL in April 2017. Leiva made an economic comparison of using ArtVentive EOSTM Plug vs. coils. He demonstrated a clear advantage of ArtVentive techniques in reduction of the material and procedural costs, amount of radiation and contrast fluids used.
- The same material with a very comparable data has been generated in the US at George Washington University Hospital.