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Venus Concept

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Venus Concept - Healthcare showcase

Year Founded & Workforce

2009

407 Employees

Industry

Healthcare

Services

RF Microneedling
V

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Venus Concept Overview

Company Headquarters: Ontario, Canada

Founded: 2009

Workforce: ~ 407

Company Working: Venus Concept is a firm that creates, distributes, and offers minimally invasive and non-invasive medical cosmetic and hair restoration technology as well as associated services. It offers state-of-the-art technology and treatment options, as well as innovative and comprehensive services that address the significant hurdles clients confront and helps them increase their chances of success overall. Its ARTAS and NeoGraft systems are among the 11 technological platforms the company has created and commercialized Additionally, the company is currently selling its devices in over 60 nations, including 27 that have direct offices there. Moreover, it provides medical care to all patients and physicians. Furthermore, it has operations in the Americas, Asia & Pacific, Europe, Africa, and the Middle East.

Strategy

Venus Concept aspires to assist its clients in creating a successful and long-lasting business. The business aims to deliver innovative and comprehensive services that address the significant problems customers confront and help them increase their overall likelihood of success, in addition to providing cutting-edge technology and treatment options. Additionally, it emphasizes investing in raising the quality of a number of industries, such as R&D, manufacturing, and medical aesthetics device quality, as well as broadening the range of products. Furthermore, it highlights how its firm is continually growing through strategic partnerships, which include new technology, more products, organizational strength, and regional presence.

Company Snapshot

$78M

Revenue

407

Employees

2009

Founded

Ontario, Canada

Headquarters

SWOT Analysis

Strengths

  • Global distribution network
  • Strong product portfolio of medical aesthetics products
  • Excellent research and development (R&D)
  • Global presence in over 60 countries

Weaknesses

  • Need more investments in new technologies
  • Annual net profit declining for last 2 years

Opportunities

  • Offering its products in untapped markets
  • Technological advancements in medical aesthetics products

Threats

  • Growing strengths of local distributors
  • Fluctuating foreign exchange rates

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Key Developments

DateApproachDevelopment
July 2020Product ApprovalThe U.S. Food and Drug Administration approved the Venus Viva MD RF Microneedling device from Venus Concept. the Venus Viva MD fractional skin resurfacing equipment allows the user control over both ablation and coagulation. It can replace all current skin resurfacing equipment with a single, portable one, expanding choicess

Product Offering

  • Venus Concept
    • RF Microneedling

Financial Performance

Explore key financial metrics, segmented revenue, balance sheet health, and performance trends.

By Business Segment: Sales rose from USD 78 Mn in 2020 to USD 99.5 Mn in 2022.
Venus Concept — By Business Segment
Series (USD Mn)202020212022
Sales78105.699.5
R&D Expenditure7.89.711

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