Michael Nagel, Vomaris Innovations - Moisture-Activated Microcell Batteries | LSI USA '24

Michael Nagel  0:04  
Good afternoon. My name is Mike Nagel, and I'm the president and CEO of Vomaris innovations. I'm excited to speak to you today about Vomaris and share the story of our pivotal entry into the direct consumer market. With our advanced bio electric Wound Care Technology power Hill. The advanced wound care market is significant. It is a $14 billion opportunity that is growing at a rate of approximately 16%. largely driven by diabetes, obesity, and the aging population. Up to now, we've been selling our products through traditional hospital channels, and we've been successful in treating over 1 million wounds. today. We're in our seventh year of this successful distribution partnership with Arthrex, a leading orthopedic surgery and sports medicine company through Arthrex. Our products are used by top surgeons and several professional professional sports teams. We also sell through independent distributors in several countries outside the United States. During COVID, when healthcare facilities were closed to all but emergencies, doctors and patients alike had to rethink how their healthcare was going to be delivered. In our post COVID world we know patients have become empowered consumers. They're more judicious about when and where they seek medical care, and more comfortable owning their own care. More medical products than ever before are now available over the counter products like pulse oximetry, hearing aids, birth control pills, Narcan, and diagnostic tests to name a few. with products like these in now and consumers own capable hands, why shouldn't wound care be any different? Recently, we surveyed wound care specialists and learned that the following 50% of them cannot get new wound care products into their facilities. 79% of them are seeing more wound care at home 85% of those surveys expect at home wound care to increase in prevalence. With those lack of access to the products they want. 69% are already sending patients to retail outlets and online sites like Amazon to buy their own products. Herein lies the direct to consumer opportunity for power heal. The home wound care market is huge. There are over 10 million patients with acute and chronic wounds, including venous stasis ulcers, diabetes related wounds and surgical site infections. What do the vast majority of these people have in common, even if they are being treated by a healthcare professional, they eventually go home and care for their own wounds. In all types of wounds, they care for at home call for products that do more than just simply cover their wound. They need products that will actually help heal them. This requires innovation. However, in the area of consumer brand premiumization it seems that advanced wound care is the market segment that innovation has forgot. And now that innovation is power he'll. Before we dove deep into the deep end, we conducted a test launch of our power Hill technology direct online. In just five short weeks, we received orders from hundreds of people. Both sales and customer feedback exceeded our expectations. Patients had comments like wish I'd had this product sooner, it's the best. This galvanized our decision to move aggressively into the direct to consumer market. Our direct to consumer product line is built on Beaumaris bioelectric wound care technology. Power heal is the only buy electric technology in the market today. It is backed by a strong wholly owned IP position, and a solid foundation of scientific and clinical evidence. Embedded in each of our bandages are moisture activated micro cell batteries, these batteries generate electricity that mimics the skin's physiological electrical energy to help wounds heal faster and effectively kill bacteria. Power heal is elegantly simple, and very easy for consumers to use. Our mission is we intend to create an own the advanced healing category by bringing our proprietary technology within the reach of every consumer. We've got a great market opportunity and exceptional product. Next, we've mapped out a strategy of how we'll win in this environment. Beyond the ticket of entry of exceptional product performance, We will win commercially in four ways. First, by building a distinctive brand identity. Second, by creating and delivering an unparalleled user experience. Third, by driving awareness and uptake with an aggressive go to market strategy. And finally, by fully optimizing manufacturing logistics for maximum return on investment for our shareholders. In addition to our highly experienced executive management team, we've engaged a best in class team of experts in incubating and launching premium consumer brands. This is the face of power he'll brand. Its bold, vibrant, and unexpected. And importantly, it's a brand promise that is backed by a broad base of scientific and clinical evidence. With over 1 million wounds treated to date. In November 2023, we launched power healed direct online. This initial launch enabled us to test our advertising our promotions, and confirm our customer targeting and refine the accuracy of our search engine algorithms. We launched we launched on Amazon this month and will soon be launching an aggressive promotional campaign. We're excited about the Amazon opportunity. Because their reach is so vast, Amazon Prime has 147 million subscribers. And just to give you an example of Amazon strength, specific to health care and wound care, and specifically, last year, Amazon sold over $250 million in the wound care category. And that category is growing at more than 20% year over year. The remarkable thing that our conversion rate for wound care on Amazon is over three times higher than it is for other categories. A conversion rate is how many interested buyers convert to actual buyers. It's valuable for people with limited time or ability to be able to get health care items delivered directly to their doorstep. To show you the power heal the power of direct to consumer outreach. We are really pleased with the results that we've seen since our November launch. In the first 10 weeks alone, we've gained over 1000 new customers, many of them have already reordered between two and six times demonstrating a tremendous annuity for this product. We anticipate a five to 10 fold increase in the coming months with expanded reach from Amazon and combined with our power heal wounds website. This rapidly growing direct to consumer business is open and working for us 24 hours a day, seven days a week. Beyond our initial launch, what is next for power heal. There's a multitude of additional wound care needs we tend to address. We have ambitious plans to tackle skin conditions like acne, and hydride, NIDA super Teva, and incorporate sensors and AI to further our mission. Beaumaris is a privately held company based in Scottsdale, Arizona, why we are currently fully funded by Franklin mountain investments. We'd be interested in talking with you if you are a VC or PE firm that has significant experience and track record in building consumer healthcare brands. Or if you are a potential strategic partner with interests in this market segment. And finally, for me, being part of this evolution in homecare has been one of the most remarkable experiences in my 38 years in the medical device industry. I welcome you to join us on our power heal journey. Please visit us at power heal wounds.com. Thank you very much for your time and attention this afternoon.