On August 5, blood analysis firm Sight Diagnostics raised another $71 million to increase its global market share of $50 billion for total blood count controls (CRDs), which doctors use to count a patient’s red and white blood cells and other blood components.
Does Sight Diagnostics participate in Sysmex, the market leader founded in Kobe, Japan? The Sight product offers a higher price for money, so I hope this will happen in the future.
Sysmex, which he has commented on in previous articles and declined to comment on this story.
(I have no monetary interest in the securities discussed in this article).
Sysmex’s struggles
Last December, Sysmex felt confident and noted that of the 3,800 blood analyzers in the United States, most full blood count tests are performed on Sysmex analyzers. A Sysmex spokesman denied Sight Diagnostics’ claim that “its OLO device works better with less blood needed and offers faster effects at a lower value than the Sysmex XN series.”
While Sysmex made significant progress last December, Sysmex suffered a difficult quarter. During the 3 months until June 2020, Sysmex’s cash fell from about 12% to $569 million, while its profit fell 33% to $42 million, according to its first quarter 2021 monetary report.
To be honest, Sysmex ADRs increased in 2020, up 9% in the year to August 10.
This weak execution raised several questions: to what extent did Sysmex’s full blood count sales replace in the last quarter? What points explain this trend? Does Sysmex comply with Sight Diagnostics in bidding situations? If so, how does Sysmex win and why? Is Sysmex developing products that can use a small amount of blood to perform CBC tests? How else is Sysmex protected from the potential risk of Sight Diagnostics?
The cat now has the tongue of Sysmex. Julie Baron, PR of Sysmex America, Inc., wrote in an email on August 12: “Sysmex America, Inc. appreciates your interest, but you should not participate in this story at this time.”
Vision diagnostics struggle to meet demand
Sight Diagnostics, based in Tel Aviv, does not publish its monetary results. However, since it received FDA approval last December for its OLO CBC device, its 510(k) authorization allows the use of OLO in laboratories of moderate complexity but not for point-of-service use, the company is developing rapidly.
How? Sight has quintupled its production capacity in more than six months, according to ejinsight. For what? Sight offers customers a higher price, considering that OLO allows medical offices and small clinics to perform CBC tests that require less blood and provide accurate effects in minutes, all at a lower price. Sight plans to use its new capital to open a production plant in Israel in the late 2020s and load suppliers; has already secured them in Singapore and Thailand.
OLO takes two drops of blood, transforms them into a high-resolution symbol, and analyzes the symbol for a total blood formula (CBC) count, analyzing a patient’s red and white blood cell count consistent with platelet count and platelet count. Specifically, when taking blood from a finger or a venous sample, OLO can test another 19 blood parameters in a matter of minutes.
Founded in 2011, Sight Diagnostics has raised more than $124 million in capital – recently, a D Series of $71 million announced on August 5. In the next few years.
One of the investors in this cycle was Koch Disruptive Technologies, which considers OLO to be a disruptive generation for installed products. Chase Koch, General Manager, said: “We are convinced that Sight’s approach of employing a synthetic vision to analyze bloodArray … It provides cutting-edge responses to the CBC industry [and] leads a vision to decentralize data and build customer access to fitness markets. the world.”
Sight’s direct sales of leads generated through inbound marketing. “We sell directly on the basis of the expressions of interest of incoming marketing. We are not at a direct festival with Sysmex, which has a tendency to supply CBC tests for central blood testing laboratories. We sell to smaller facilities that are closer to patients that have smaller budgets and can’t justify the cost of Sysmex machines,” he said.
Working with giant suppliers has its pros and cons. “On the plus side, large stores have strong relationships that give us much broader access to the U.S. The one we can get with our sales force. The challenge is that these suppliers offer many products and we want to help them see the benefits of devoting their resources to presenting our products to their customers,” Pollak said.
Sight’s technological strengths come with the vision systems he uses to analyze blood photographs and his device learning technology. Sight aims to use his skills to diagnose Covid-19 through “devices in hospitals around the world to see if he can gather knowledge to find anomalies that may imply the severity of certain facets of the disease,” according to TechCrunch.
In theory, corporations that offer their consumers a better product for less cash deserve to take the industry away from established operators, unless the Goliath retaliates. If Sysmex does, it does not communicate about it.
I left American corporations in 1994 and established a risk capital and control consulting firm (http://petercohan.com). I followed the movements of 1981 when I was
I left American corporations in 1994 and established a risk capital and control consulting firm (http://petercohan.com). I started tracking movements in 1981 when I was at MIT High School and first analyzed the movements of generations as a guest at CNBC in 1998. I became a Forbes contributor in April 2011. My fourteenth e-book, published in February 2019, is “Scaling Your Start-up: Mastering the Four Steps of the $10 Billion Idea.” I gave the impression 8 times in the 2016 documentary “We The People: The Market Basket Effect”. (http://www.themarketbasketeffect.com/). I also teach entrepreneurship and entrepreneurship at Babson College in Wellesley, Mass. (Http://www.babson.edu/Academics/faculty/profiles/Pages/Cohan-Peter.aspx)