annual company profile -...

FUTURE TECHNOLOGY FOR TODAY HEALTH

Av. Rivadavia 4260 4º(C1205AAP) CABA - ArgentinaTel/Fax: (54-11) 4981-1122www.angiocor.com.ar

ANNUAL COMPANY PROFILE

About the Company

Since our foundation in 1992, we have distinguished ourselves by marketing and distributing top quality medical devices achieving international recognition.

We have grown solidly and continuously along all these years becoming one of the Argentinean Companies having the largest share in this competitive market.

Our growth strategy allowed us to be the pioneers in introducing state-of-the-art technologies of the most advanced countries, increasing our distribution area all over the country, and becoming one of the most important importers of medical devices..

Giving a real weight to our products added value, we particularly emphasized on the scientifi c support to those professionals who use our products in their daily practice. We give them the chance to participate in major international and national events; sponsoring meetings and supporting medical associations and colleagues in their activities and their publications.

We confi rm our commitment with the Argentinean medical community, keeping up the achievement of our efforts, selling the best devices technologies and providing a very important after-sales service, convinced that our exclusive brands fulfi ll at length the modern medicine demanding requirements.

Defi nitely, Angiocor will continue consolidating its presence and leadership on the market due to our product quality, staff ability and an intelligent strategy led to make successful business.

Quality, Capability and Innovation make the difference.

Company Flowchart

Angiocor permanently updates its administrative and logistics structures according to the company´s objectives.

Below we can see a company fl owchart with the major important company structures.

Administrative Personnel

General & Logistics59

Regulation AffairsLuis Alberto Campana

Foreing TradeMarina Alvarez

Sales ForceAnabel Fernández

Leonardo SofíaGerardo DranLaura Da RoldFernando ValleMara Bouhet

Leticia Reynoso

Products Manager& Clinical Specialist

Lic. Sonia Grosso

Technical DirectorBernardo Diener

Administrative ManagerLuis Alberto Fernández

Vice PresidentLuis Osvaldo Pisano

DirectorSebastián Ricardo Pisano

Tax ConsultingEstudio Marín y Asoc.

Medical ConsultingDr Alfredo TorresDr Omar Santaera

Law ConsultingDra. Alicia Tebes

President & CEONorberto Francisco Pisano

Brief Explanation of Company Functions and Areas

Board Management and Director:

President: Mr. Norberto Francisco PisanoVice President: Mr. Luis Osvaldo PisanoDirector: Mr. Sebastian Ricardo Pisano

The board management and the director are in charge of the company´s policies and objectives, focusing not only on short term results, but pursuing long term results, developing elaborated prospective analysis of the different company areas and third party developments. Monitoring the achievement of those company objectives and redirecting them if necessary.

External tax advisors and law advisors:

• Tax Advisors: Estudio Marin y Asociados, fi rm

Responsible: Mr. Ricardo Marin, Accountant

This area is in charge of audit operations, accounting records, and audit annual fi nancial statements of the company. Advising, settlement and control of national, provincial and municipal taxes. Also offers corporate and retirement system counsel.

• Law Advice: Estudio Alicia Tebes, fi rm

Responsible: Mrs. Alicia Tebes, Attorney

This area is in charge of legal management and counsel of the corporate, commercial and human resources area.

Administrative manager:

Mr. Luis Alberto Fernandez, Accountant

He implements the necessary procedure to achieve the goals set by the Board and the director.

Mr. Fernandez is in charge of the administrative and fi nancial departments, although this department´s jobs are common to all commercial companies, our company sets a particular emphasis on personnel selection, training and on determining the rules and works routines, searching for the results of procedures with minimal staff rotation.


Regulatory Affairs:

Responsible: Mr Bernardo Diener; Pharmacist

Angiocor has a special area for control and for conducting the accomplishment of all those requirements set by the National Administration for Medicines, Food and Medical Devices (ANMAT) regarding the importation of medical devices.He is also in charge of checking the integrity and the sterilization of the products before they are released to the market, as well as assisting and processing products claims and detecting non-conformities.

Medical Consulting:

Responsible individuals: Dr. Alfredo Torres MD Dr. Omar Santaera, MD

This in-company area has a very important role related to reliability and effectiveness of the devices marketed by Angiocor.

Doctor Omar Santaera is our advisor in endovascular surgery, supporting physicians in cath labs, new implant techniques, new developments in product use, among others.

Doctor Alfredo Torres is in charge of implants follow up and auditing.

Sales Department:

This is one of the most important areas of the company, the sales department works side by side with the sales team force designing sales strategies, participating in local events and meetings, promoting our products, supporting sales teams, visiting physicians in charge of product implants, also taking part of this product implants in order to provide technical support. To offer the high quality service Angiocor has an Image graduate, Mrs. Sonia Grosso, who assists physicians in the implant procedures. Our sales team is highly qualifi ed for that purpose, taking update courses that allow them to have all news on novel products, implant techniques among others.

Sales team personnel: Anabel Fernández, Laura DaRold, Gerardo Dran, Leonardo Sofi a, Fernando Valle, Debora Bianco


Information Technology Department:

Responsible: Mr Luis Alberto Campana

This area is in charge of permanently updating our company´s hardware and software, thus allowing us to have the last and most sophisticated technologies to develop top quality statistics, market research and reports. Together (with the sales department) they design and publish “Angiocor Today”, our company magazine, with the latest Scientifi c works properly authorized and distributed among the professionals all over the country.

Personnel:

This is another of the company´s main assets: we feel particularly committed to recruitment, training and qualifi cation of our Staff. We have a permanent technical qualifi cation plan related to those products we market, for the sales and the administrative areas. Our people attend major world meetings related to our products specialties with the purpose of upgrading their knowledge and skills.

Logistics:

Angiocor has an important logistics structure, integrated by our own warehouse, our own delivery service in the main areas of infl uence, branches and distributors, outside the headquarters range of infl uence. Besides, Angiocor has implemented an additional service: the stock depot at major high complexity medical centers. This small warehouse allows the cath lab to use our products in emergency cases reducing the time of emergency response. This area deserves a better explanation. Please see below:


Warehouse:

Our storehouse fulfi lls all the requirements provided by the National Administration for Medicines, Food and Medical Devices (ANMAT) keeping the devices in a safe place according to all the provisions for these products and according to the rules of our quality manual.

Stock depot:

As above mentioned, our company keeps an important number of products deposited at major high complexity medical centers. This allows us to respond right away to the urgencies or emergency demands, providing immediate availability in the event of patient´s life risk.

Delivery:

The delivery of our products is handled by personnel and vehicles specially hired for such purpose, avoiding unnecessary delays and shortening the response time for our clients.

Distribution Net

Our distribution net is located in different cities domestically, allowing us to get to the entire national territory and assist hundreds of medical centers

Distributors List

Angiocor Headquarters Olazabal 1515 13º Piso (C1428DGG) CABA - Argentina (5411) 4849-7248

Angiocor Administrative Offi ces Avda. Rivadavia 4260 4º Piso (C1205AAP) CABA - Argentina (5411) 4981-1122

Angiocor Córdoba Branch Jerónimo L. de Cabrera 885 Córdoba, Capital (0351) 471-1010

Disitributors

Farma Científi ca Olascoago 1422, Mendoza (0261) 423-3911 Productos para la Salud San Juan 1035 PB, Tucumán (081) 422-2688 Dream Medical José Marmol 126, Corrientes (0722) 443-329 In Out Maipú 528 3º “2”, Rosario (0341) 424-1628 Angiosur Patagonia S.R.L. Dorrego 165, Bahia Blanca (0291) 15-461-5287 Todo Implant Av. Hipolito Yrigoyen 369, Chaco/Formosa (0372) 243-2207 Bio Salta Av. Belgrano 853, Salta (0387) 432-9272

a

es

Pre- and Post- Sales Services

We have developed an important strategy which includes the following actions;

• Trainings and advice to our distributors; offering full product knowledge and understanding.

• Physicians support through a special service where the proctor physician travels to cities and performs products implantation, showing local professionals the easy handling and implantation process of the product, allowing them to gain experience.

• Technical advice to the physician through our sales department.

• Permanent support from our sales team carrying out periodic trainings on technical characteristics, implant procedures and new development of our products, also permanent professional visits allowing an important feed back between our company and the physicians.

• Periodic personnel training, allowing our sales staff to assist technically inside the cath lab during the procedure if necessary.

Meetings & Events

We participate in many international and local events of interventional cardiology, interventional vascular and cardiovascular surgery.

In national meetings we are permanently present through booths with our own personnel and at international meetings: traveling, ensuring our participation.

We also cooperate sponsoring journeys for medical upgrading, with live cases transmissions and lectures among others.

Clients

Our Clients portfolio is integrated by major health, public and private level entities.

Product Introduction to the market

Angiocor is vastly experienced in introducing products into he Argentinean market. Since 1997 we have grown continuously incorporating new product lines, most of them were not distributed in the local market. The following can be mentioned as an example:

• Angeion Corporation - Cardio Defi brillator DevicesWe introduced this line in Argentina in 1998 and it was very successfully marketed until 2002, year when Angeion sold its patents and stopped manufacturing them. We had to clear the market and continue giving technical support during the devices´ shelf life.

• Ideas for Medical - Carotid ShuntWe introduced this product in the market making up standard procedures of carotid enderectomy. At present we continue marketing it, although its use is declining, due to upcoming interventional procedures and because the line was acquired successively by Horizon Medical Products and LeMaitre Vascular. Inc, assuming in both cases the representation of the mentioned lines.

• Atrium Medical Corp. - PTFE Vascular ProsthesisWe introduce and represent the line of this important company in the Argentinean market until then unknown.

• Aga Medical Corporation - OccludersAngiocor was the main responsible for the introduction of the occlusion of heart congenital defects procedures and the corresponding devices in Argentina. The fi rst procedures in Latin America were carried out through our company, as well as the training of the professionals necessary for interventions. Nowadays the Amplatzer device is a standard treatment of these pathologies.

• Bolton Medical S.L.U. - Thoracic Stent GraftWe introduce and represent the line of this important company in the Argentinean market until then unknown. Angiocor currently ranks fi rst in the market for this device.

• Endologix Inc. - Abdominal Stent GraftWe introduce and represent the line of this important company in the Argentinean market until then unknown. Angiocor currently ranks fi rst in the market for this device.

Product Introduction to the market

• Jenavalve Technology GmbH - Jenavalve TAVI SystemSince 2013 we have introduced Transapical approach for the fi rst time in Argentina. Initially we have performed with compassionate use cases until we obtain the fi nal approval. Currently we are developing this market succesfully.

• Acandis GmbH & Co. KG - Cerebral StentsWe introduced this device in 2013, which was totally unknown by that time. At the moment, we are increasing our developement in the market.

• Celonova - Embolization MicrospheresAngiocor brought this unknown brand to our country in 2013. Nowadays we´re also introducing some devices por oncologic procedures.

• Blockade Medical - Aneurysms CoilsWe introduced this product in 2013, which hasn´t been used in Argetina until then. At the moment we`re still extending our line of devices from this brand.

• Cardionovum GmbH - Drug Eluting BalloonAngiocor have incorporated this devices in 2013, and by the time, is performing the ANMAT registration process.

Product Lines

St Jude MedicalContact: Alejandro Lozza ([email protected])• CIA, Ductus, PFO, CIV Occluder, Cardiac Plug• Vascular Plugs Family

Atrium Medical CorporationContacts:Fernando Rocha ([email protected])Frank Rooijakkers ([email protected])• PTFE Vascular Graft• Peripheral Stent Graft

Bolton Medical S.L.UContact: Javier Santamaría ([email protected])• Thoracic Stent Graft

Blockade MedicalContact: Gib Clarke ([email protected])• Aneurysms Coils

Endologix Inc.Contact: Bob Mitchell ([email protected])Pedro Barzola ([email protected])• Abdominal Stent Graft

LeMaitre Vacular Inc.Contact: Rob Linden ([email protected])• Carotid Shunt• Expandable LeMaitre Valvulotome• LeMaitre Aortic Occlusion Catheter

Optimed GmbHContact: Stefan Brock ([email protected])• Peripheral Stents• Carotid Stents• Peripheral Balloon Catheter

CelonovaContact: Robin Edelstein ([email protected])• Embolization Microspheres

Perouse MedicalContact: Carole Vandal ([email protected])• Vascular Graft collagen coated• Vascular Patch collagen coated• Carotid Shunt

Acandis GmbH & Co. KGContact: Andrea Schuessler ([email protected])Kirsi ([email protected])• Cerebral Stent

ALN International Inc.Contact: Pascal Lazzari ([email protected])• Vena Cava Filter

JenaValve Technology GmbHContact: Trevor Dekker [email protected]• Jenavalve TAVI system

Cardionovum GmbHContact: Joop Meijer ([email protected])• Drug-eluting Balloon for peripheral & coronary use.

Andramed GmbHContact: Jessica Schade ([email protected])• Peripheral Stents• Snares

AndratecContact: Dijana Mahmic ([email protected])• Guide Wires• Balloons• Covered Stents

Sahajanand Medical Technologies Pvt. Ltd.Contact: Ammad Shorbaji ([email protected])• Coronary Stents

Annual Importation

Angiocor is ranked as one of the major importing companies of medical devices in the Argentinean cardiovascular market; being the undisputed leader in some of its lines, such as heart congenital defects occluders, competing in other fi elds, step by step, with international and national fi rms (for instance: coronary stents, vascular abdominal and thoracic stents, grafts and PTFE vascular prosthesis)

Line Last 12 Months Import

Acandis GmbH & Co. KG € 30,700.00

St Jude Medical(Aga Medical Corporation)

USD 1,492,180.00

Andramed GmbH € 28,360.00

Atrium Medical Corporation USD 1,113,734.00

Bolton Medical S.L.U. USD 574,773.00

Endologix Inc. USD 2,959,950.00

Celonova BioSciences Inc. USD 114,875.00

InspireMD GmbH USD 149,500.00

Jenavalve Technology GmbH € 675,000.00

LeMaitre Vascular Inc.* 0.00

Optimed GmbH € 172,965.00

Perouse Medical € 5,400.00

Blockade Medical GmbH USD 518,780.00

* No imports. The ANMAT register is in process because of change in address

Economic and Financial Statements

Statement of Patrimonial Situation, fi gures in dollars

TO 31/12/2013AssetsCurrent AssetsAvailability 557,284Credits 7,268,603Inventories 1,754,989Total Current Assets 9,580,876

Current Non AssetsFixed Assets 55,037Total Current Non Assets 55,037Total Assets 9,635,913

LiabilitiesCurrent LiabilitiesAccounts Payable 1,872,979Tax Debts 1,668,127Total Current Liabilities 3,541,106

Current Non LiabilitiesDebts 767Total Current Non Liabilities 767Sub-Total Liabilities 3,541,873

Shareholdes EquityCapital and Reserves 3,747,308Retained Earnings 2,346,733Total Shareholdes Equity 6,094,040Total Liabilities 9,635,913

Income Statement, fi gures in dollars

TO 31/12/2013Net Sales 21,121,904Cost of Good Sold 9,692,826Gross Profi t 11,429,079Marketing Expenses 5,287,227Administration Expenses 2,604,736Expenses Financing 257,102Sub Total Expenses 8,149,065Other Income 0Gain Before Income Tax 3,280,013Income Tax 933,281Gain Final 2,346,733

annual company profile -...

Documents