APATECH ON FAST TRACK TO SUCCESS
ApaTech, a global leader in synthetic bone graft technologies, has been recognized as Britain’s fastest growing private medical technology company.
‘The Sunday Times Microsoft Tech Track 100’ awards were announced on 30 September 2007 and ApaTech was ranked as 13th in the top 100, when measured by its outstanding sales performance over the two years to March 2007, which saw revenues grow at a compound annual growth rate of 238%
This award follows ApaTech’s recent appearance in the Financial Times on 22 August 2007, when it was ranked 9th in a UBS study of the UK’s fastest growing venture-backed companies. ApaTech is backed by 3i, MTI Partners and Bioscience Investment Trust, a fund managed by Schroders plc.
The tremendous sales growth of recent years reflects the rapid adoption of ApaTech’s leading product Actifuse™ Synthetic Bone Graft. Utilising unique silicon substituted calcium phosphate chemistry and novel manufacturing technologies to provide a scaffold that mimics natural bone, Actifuse enhances bone growth. Compared to earlier generation synthetic products Actifuse generates more bone in less time and being synthetic, avoids the issues associated with autograft or donated bone. This significant advance is increasingly being adopted worldwide by orthopaedic and neuro-surgeons in spine fusion, joint reconstruction and trauma applications.
The Company’s state-of-the-art production facility in Elstree, which was only opened last September by Lord Sainsbury, is already approaching full capacity and construction of a second facility is being planned to meet rapidly growing international demand.
Commenting on today’s announcement, Simon Cartmell, Chief Executive Officer of ApaTech said: “ApaTech is a British success story on the world stage. The science, developed at Queen Mary University London, is now in use by surgeons in 20 countries around the world. Most importantly Actifuse is providing improved outcomes for patients and their surgeons”.
“Everyone connected with ApaTech is delighted to be part of this success story and very proud to be recognised by the Sunday Times and the Financial Times for both the company’s excellent sales growth and technology achievements.”
Further Information:
ApaTech
Simon Cartmell, CEO
020 8731 4640
Simon.cartmell@apatech.com
www.apatech.com
Waughton
Robin Hepburn/Victoria Nicholson
020 7796 9999
rhepburn@waughton.com
www.waughton.com
About ApaTech
ApaTech's technology is based on extensive research to design the optimum material and structure for safe, effective bone grafting.
ApaTech’s research has created Actifuse, a product with unique silicate substituted calcium phosphate chemistry, produced as a scaffold with consistent interconnected micro- and macroporosity. As a result of its unique properties Actifuse has been shown to enhance bone formation compared to other synthetic and biological solutions available today. Actifuse is available as a range of granule and microgranule formulations, including an EasyPrep applicator and as an Advanced Bone matriX, Actifuse ABX mouldable graft material.
ApaTech was spun out of Queen Mary University London in 2001, funded by 3i, who have participated in all funding rounds and are the Company’s largest shareholder. The pivotal Series B round in April 2004 was lead by UK venture capital firm, MTI Partners. To date the Company has raised £12.2m of equity principally from 3i plc and MTI plus £3.5m of debt from Noble Ventures
ApaTech is based in Elstree, UK, Foxborough, Mass, USA and Berlin, Germany. More details can be found at the website, www.apatech.com
About Tech Track 100
The seventh annual Tech Track 100 league table was published in The Sunday Times on 30 September 2007, with main sponsor PricewaterhouseCoopers and title sponsor Microsoft.
Tech Track 100 ranks Britain's fastest-growing private tech companies based on 2003-2006 sales growth. Growth ranged from 52% pa to 514% CAGR, with sales typically between £3m and £25m. www.fasttrack.co.uk
