Alafair achieves 109% year-over-year growth with VersaWrap® Sales in 2023
Austin, Texas, March 7, 2024 /PRNewswire/ — Alafair Biosciences, Inc., a leading innovator in medical device development and commercialization, today announced its 2023 results and highlights. Alafair's flagship product VersaWrap®is an FDA-cleared medical device implant (not tissue) containing hyaluronic acid (HA) and alginate that provides a gelatinous wrap around peripheral nerves, tendons, and surrounding tissues such as ligaments and skeletal muscle.versatile wrap® Avoiding tissue slippage and fixation reduces reoperations and improves patient outcomes.
Performance and business highlights at the end of 2023
- Revenue from VersaWrap sales increased 109% year over year
- Achieved positive EBITDA and net operating income
- VersaWrap implants exceed 13,000
- Sales network will grow by 114% from 2022 onwards
- Recognized by Inc. 5000 as the 23rd Fastest Growing Private Company in Health Products
“Our strong growth in 2023 is a testament to the credibility of VersaWrap’s clinical value. We are very encouraged by the increased adoption and are proud of the hard work, collaboration, and collaboration of the entire Alafair team, our distribution partners, and our employees. I would like to thank you for your loyalty.”Customer” john joypriteno, President and CEO of Alafair Biosciences. “These are exciting times at Alafair, and we are just getting started. Over the next year, we look forward to expanding our presence across the United States and helping more surgeons achieve positive outcomes for their patients. I’m looking forward to it.”
About Alafair Biosciences
Alafair is a privately held medical device company that develops and markets a portfolio of innovative products based on proprietary hydrogel technology. Alafair's mission is to improve surgeon experience and patient outcomes by preventing unwanted soft tissue tethering using non-collagenous, bioabsorbable biomaterials in all surgical applications. Alafair products are sold through a distributed network of independent distributors. US.
About VersaWrap®
VersaWrap is an FDA-cleared medical device implant (not tissue) containing hyaluronic acid (HA) and alginate that provides a gelatinous wrap around peripheral nerves, tendons, and surrounding tissues such as ligaments and skeletal muscle. With VersaWrap, tissue slips and remains unfixed, reducing reoperations and improving patient outcomes.
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SOURCE Alafair Biosciences, Inc.
