A Look back at StimLabs in 2020
Bad companies are destroyed by crises; good companies survive them; great companies are improved by them.Andy Grove, CEO of Intel
We are so proud, and equally grateful, to share our achievements over this past year. Unfortunately, 2020 was an unprecedented year, and our thoughts go out to all of those who were affected.
We started 2020 off by enhancing our product portfolio with the launch of Corplex and Corplex P, allografts derived from umbilical cord. Both products successfully address individualized wound care needs, expanding treatment options to patients and healthcare providers.
Concurrently, the StimLabs’ research and development team continued expansion of our regenerative solutions utilizing innovative raw materials and processing techniques. These recent advances are a continuation of our overarching mission to address specific patient needs utilizing targeted regenerative technologies.
But our product portfolio isn’t the only thing that grew!
Our StimLabs family has nearly tripled since the previous year, starting 2020 off with under 40 employees and ending it with over 100! Our salesforce alone quadrupled in size, expanding our footprint in 19 states across the United States. This largely contributed to a significant rise in product demand. Thus, resulting in a 75% increase in distribution lead by an 86% increase in tissue processing.
To keep up with the growth, StimLabs expanded headquarters by almost 35,000 square feet, allowing us to grow our clean room, double our R&D lab, and bring Quality Control Lab capabilities in-house.
All of these factors combined led to a whopping 80% increase in company revenue. We can’t help but thank our dedicated StimLabs family and our committed healthcare partners.
Over the past five years, StimLabs has conceptualized and launched a portfolio of placental-derived products, developed an extensive product pipeline, and established a suite of intellectual property. This past year was no exception.
We are delighted to continue to provide new solutions that better meet the needs and preferences of both our providers and their patients. With our expanding resources and product lines, we renew and reinvigorate our promise to continue innovating the biologics space, keeping patients our number one priority.
In 2021, you can expect the same commitment to quality, determination to provide meaningful and accessible product contributions, and more innovation than ever before.
MKTG21-001 Rev 02
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