DOYLESTOWN, Pa., Jan. 21, 2021 /PRNewswire/ -- OrthogenRx, Inc., a medical device company focused on the development and commercialization of treatments focused on the development and commercialization of treatments for knee pain caused by osteoarthritis (OA), today announced its company highlights for 2020 which have exceeded revenue targets. Among many accomplishments, OrthogenRx is proud to have launched new pricing options to facilitate access to affordable healthcare products, needed more than ever during the health and financial crisis of 2020.
"OrthogenRx's mission has been to provide safe and efficacious treatment options to our patients for the treatment of OA knee pain while providing fair and consistent pricing to healthcare professionals and their patients," said Michael Daley, PhD, Co-President, Co-Chief Executive Officer, and Founder of OrthogenRx, Inc. "All of the employees embody our core values, and have been the hallmark of our ability to not only survive but thrive in the most trying year for healthcare products sales. With additional focus on training, a focused commercial strategy, continued innovation, and a rich product portfolio, we are poised for continued success in 2021."
The company reported the following results and highlights:
- Expanded national footprint and reach in key accounts through strategic partnerships;
- Launched TriVisc® Direct Purchase Program to provide greater access to TriVisc and a convenient solution for patients without insurance coverage;
- Launched a Patient Assistance Program to provide access to TriVisc® for patients without the financial resources to pay for the treatment by providing Patient Assistance Product at no cost to certain appropriately qualified patients;
- Publication in "The Journal of Bone and Joint Surgery (JBJS)" Orthopaedic Forum, titled "Consequences on Private Insurance Coverage: The AAOS Clinical Practice Guidelines and Hyaluronic Acid Injection", co-authored by OrthogenRx Co-CEO, Michael Daley, PhD as well as C. Thomas Vangsness Jr., MD, Thomas C. Adamson III, MD, FACP;
- Spotlighted media coverage in Philadelphia Alliance for Capital and Technology TIMES, Orthopedics This Week, and Bucks County Herald;
- Supported the local community through volunteer work and donations to the following organizations: Broad Street Ministry, Gary Sinise Foundation for Veteran's, Covenant House, The Make a Wish, Phil Abundance, New Jersey Food Bank, Mercer Street Friends Food Bank, DMAX, Bucks County Opportunity Council, and Minds Matter.
"Early in 2020 we focused on leadership and our commercial strategy to optimize customer acceptance, service and experience, and coupled this with what we believe is most ethical business practice. That includes taking care of employees and the local community. Great companies are only possible through great teams!", said Michael Daley, Co-CEO of OrthogenRx.
"I continue to be amazed at the company's resilience and team performance that created significant value for all the key stakeholders and customers in the most trying of years. Our team continues to be an industry leader in efficiency as assessed by revenue generated per full-time employee equivalent."
The company projects it will continue a growth trajectory in 2021 and has experienced significant year over year sales growth since inception. The company is actively recruiting for highly motivated and dedicated team members across the organization, including customer service, marketing, finance, compliance, and quality. Among the operational plans for 2021, the company is planning new innovative products, building strategic partnerships, and delivering superior customer experiences.
"Entering 2021, our performance sets the stage for continued growth and product expansion," added Daley. "As you would expect, we closely monitor all conditions that may impact the business but remain optimistic that we can continue to expand our business at pace and deliver an industry-leading value proposition."
OrthogenRx Inc. is a late-stage development company headquartered in Doylestown, it licenses, develops, and sells equivalent orthopedic medical devices at competitive pricing and efficient operating processes, thereby maintaining favorable margins. This reduced cost to the healthcare system maintains affordable access to quality healthcare. The management team has decades of industry experience in product development, commercialization, sales/marketing, and reimbursement of medical device products.
c/o McDAY – Public Relations
Alison Guzzio, 484-459-3243
1515 Market St #1200
Philadelphia, PA 19102
SOURCE OrthogenRx, Inc.