Convatec hikes InnovaMatrix sales guidance by 50%

(Sharecast News) - Medical products group Convatec has said the sales outlook for InnovaMatrix has improved after an announcement by the US government late last week. InnovaMatrix, first FDA-cleared placental-derived extracellular matrix medical device for wound management, had been initially excluded from a Medicare list of approved products used to treat diabetic foot ulcers and venous leg ulcers.

However, the Centers for Medicare & Medicaid Services on Friday postponed so-called local coverage determinations (LCDs) for DFU/VLU treatments, meaning that Medicare patients with those conditions will continue to benefit from access to InnovaMatrix.

As a result, guidance for InnovaMatrix sales this year has been hiked from $50m to $75m. Convatec had expected the sales contribution from InnovaMatrix, which at $99m represented 4% of group revenues in 2024, would halve to just 2% in 2025.

Convatec, which remains hopeful that the InnovaMatrix exclusion will eventually be reversed, believes the exclusion would be negative for both patients and healthcare practitioners by reducing choice.

Two InnovaMatrix randomised controlled trials in DFU and VLU are on track to report in 2026, the company reiterated in a statement on Monday.

"It is vital that responsible and innovative companies like Convatec can continue to invest in pioneering skin substitute products in the US. Convatec is committed to continuing to work collaboratively with the US Administration and CMS on the development of future policies," Convatec said.