While the advantages of the ADVOS multi are easy to explain, the actual process of getting it in use broadly is more complicated.
“Hospitals usually operate under huge budgetary constraints, and there is actually no budget for purchase of capital equipment,” says Martina Petkov, the company manager in charge of strategy and business development. “This is why we employ the pay-per-use business model.”
ADVITOS offers hospitals a fee-per-patient use model and provides the machines to hospitals with around-the-clock customer support. The hospitals are reimbursed by the insurance plans covering the patient.
With 21 hospitals using ADVOS, more than 1,000 patients to date have been treated with the device. The company earned 2.3 million euros in 2020.
ADVITOS is working on expansion into Switzerland, with France, Belgium, and Italy to follow. The company is also in talks with the United States Food and Drug Administration to develop the market entry strategy there. Martina says the company would like to launch its products in the US by 2025.
The company’s in-house research and development team is working on using artificial intelligence to make the device even easier to use, further relieving stress on hospital staff.
Catherine joined the team at ADVITOS in 2006, and her enthusiasm for the project hasn’t wavered. “I was really excited, because I saw that this therapy is really special — we can save people’s lives,” she says. “Our device is highly innovative and meets a medical need in a way no other device can.”