Ann: Webcast with the Chairman and New CEO, page-55

My notes on this morning's interview with new CEO, Swami Raote:

• Views BTM as a “diamond in the rough”, a unique technology combining “breathtaking simplicity” with lower cost that has the potential to impact millions of patients.
• Of taking PolyNovo and BTM global – “that’s exciting”.
• Views the surgeons who use the product as key to expansion, noting that some surgeons have fallen in love with the product. Considers surgeons educating one another as a pathway for taking BTM to the world.
• Notes that it is in the emerging markets such as India and China where rates of burns and trauma are highest. Is ‘raring to go” in these markets. Rather than choosing from current business models for emerging markets, the intent is that PolyNovo will construct the model for emerging markets. “We will educate them how to use this product”. Will leverage the digital expertise of these markets.
• Despite perceptions that Japan is a market too difficult to enter, believes that it is a very good market and notes that establishing a market in Japan and Korea can give a product good traction in other Asia Pacific markets.
• Not in favour of using a distributor sales model in China or Brazil.
• In response to DW’s question about views on M & A, nominates potentially “aligning” with, for example, a soft tissue reconstruction company, as a way to accelerate growth.
• Was very pleased that the PNV Head of Americas has put up his hand to go to Ukraine alongside surgeon and BTM.