Good technology, no competition, easy to use product that docs want. The problem: Price. The propel stent is selling for about $700 per stent. Realistically a doc could use 4 on one case, if they put them in the frontals (off label) and ethmoids. This product is a drug coated resorbable steroid coated sinus stent, being sold as an "implant" so facilities can seek reimbursement. However, reimbursement has been elusive. Medicare will not reimburse for it and private payers are starting to follow suit. The sales team seems to be leading with a reimbursement model that is flawed. The product would have a much better chance of high and fast growth if it were priced MUCH lower. This product is not really an implant and will be classified as such very soon. They have a new stent in the product pipeline for use in the ENT office, coding may be attractive and docs will buy it if they can make money using it.
This company has a great product, but probably will not be acquired because they think they can get wide use of their current stent at the current price (doubtful). Surgery Centers are not going to touch this product at its current "lack of" reimbursement. If the office based product launches with a realistic price and/or reimbursement all of the big suitors will come back with their check books in hand. The science is sound, this product is here to stay. Who will sell it, where will it be used, is it an economic winner or loser for HCP's.??? We should know in a year or so.
Peace
