Shift in strategy
We believe the change in strategy makes perfect strategic and financial sense, given the difference in growth rate and gross margin between the two products. The exit from the cranial implant business lowers the overall cost base by 18-24% (based on our 2023e opex forecast), as the company is becoming a pure orthobiologics company with out-sourced production, and only focusing on the US market. In addition, we also belive the change in strategy and exit from the cranial implant business makes OssDsign a more likely take-over candidate once commercially validated in the coming years.