Steady Global Growth for ABIGO Medical
From 0-300 MSEK, with profit every year from start and growing on the average 15-20% annually. ABIGO is a Gothenburg based truly independent, family-owned, life science company with global focus, long-term business commitment and entrepreneurial spirit.
“We’ve never been dependent on external financing. It enables us to act long-term and according to our own philosophy. The board still consists of only my brother and me, just like when we started in 1989,” says CEO Jan G. Smith, one of the two founders of ABIGO Medical.
ABIGO is a fully integrated pharmaceutical company with a comprehensive portfolio of pharmaceuticals, medical devices and other medical products, sold and used in more than 70 countries worldwide.
“We have unique products with international potential in niche areas. It requires solid IP, which we secure by a strong R&D in-house,” Jan adds. In addition, we have an extremely competent staff with long and broad experience. This refers to all fields, R&D, marketing and production.
A good example of this philosophy is Sorbact®, a unique and patented range of wound dressings which prevents and manages wound infections in an environmentally friendly way and without any risk of inducing antibiotic resistance. Enabled by ABIGO’s proprietary Sorbact® Technology, microorganisms bind to the dressing surface and are removed with every dressing change, without killing the microorganisms and without releasing any toxic agents into the wound.
“Sorbact® is successful and with rapid global growth, supported by a strong development programme. During 2016, we have launched several new products and a recently internationally published randomised clinical trial with 543 patients undergoing caesarean section, shows a significantly reduced risk of wound infections as well as highly improved health economics, compared to standard clinical care,” Jan continues.
Entrepreneurial spirit remains intact
The company has strong growth with good profit and AAA credit rating. The annual turnover is close to MSEK 300 and the number of employees 130, up 10 since last year. To support the growth onwards, MSEK 30 is currently invested in ABIGO’s manufacturing plant in Askersund, which will expand to a total of 5,000 sqm. Recently, the R&D laboratory moved from Sahlgrenska Science Park to a 3,000 sqm facility at ABIGO Medical’s headquarter in Askim, Gothenburg.
”ABIGO Medical is now a middle-sized company. Reaching a certain size, there’s always a risk of the organisation becoming bureaucratic. This we want to avoid. For us it’s important that the entrepreneurial spirit remains intact. The opportunities, challenges, excitement and expansion are the key drivers for me and my brother Leif Smith running the company,” says Jan G. Smith.
ABIGO’s success has resulted in several offers on the company. But they don’t want to sell.
”For us, a company is not a commodity. We continually reinvest our profits in the company and feel a big responsibility for our business and our employees. We want to continue to build a successful life science company,” Jan concludes.