When a Proven Track Record Meets Start-Up Spirit
Bentley Endovascular Group AB specializes in the development, manufacture and distribution of minimally invasive medical devices and is the market leader for covered stents in the European market. The original business was founded in 2009 by the Swedish serial entrepreneur Lars Sunnanväder and Miko Obradovic and is located within the Hechingen Medical Valley in Southern Germany, operating under the name Bentley InnoMed GmbH. Bentley has been growing its business and product portfolio ever since the launch of its first product in 2012. Today, the Group ranks as one of the leading providers of products for endovascular treatments, serving customers in more than 80 countries through direct and indirect sales.
We are continually expanding our business for large markets such as the USA, which we expect to enter in 2027.
Meanwhile the Group has brought on board Keensight Capital, A.P. Møller Holding, and Bonit Capital as new investors. The founders and management retain control and hold the majority of the capital and the votes in Bentley Endovascular Group AB.
Structure of Bentley Endovascular Group AB
The holding company Bentley Endovascular Group AB, headquartered in Stockholm, Sweden, holds and controls its German subsidiary Bentley InnoMed GmbH, as well as Bentley Switzerland AG, based in Switzerland.
Bentley InnoMed GmbH is based in the medical technology stronghold of Hechingen in Baden-Wurttemberg, Germany. The company develops, manufactures and markets implants and catheters for the endovascular treatment of peripheral vascular and aortic diseases. The company has achieved a leading position in covered stents in Europe and is globally active.
Acquired in mid-2023, Bentley Switzerland AG is a Swiss specialist in dilatation balloons and key supplier of essential components to Bentley’s product portfolio.
Group Profile and Background
The Group is marked by in-depth medtech know-how as well as a management team and organization committed to its unique entrepreneurial culture, the Bentley style “Differentiate and Win”.
A highly recognized medtech tech brand and best-in-class customer services combine with product innovation to provide steady contributions from ramp-ups of new products and applications.
In 2022, Bentley InnoMed GmbH, as the major contributor to Group sales, generated approx. EUR 69 million in sales. Bentley Group remains on a path of continued strong but profitable growth based on its product innovations and the development of new markets.
Bentley’s products are distributed in more than 80 countries worldwide, with more than 400 employees group-wide committed to a strong culture of innovation driving the business.
Sales Growth Bentley GmbH > 20% CAGR over 5 years
Vision and Mission
Throughout Bentley's 14-year history, we have successfully maintained our start-up culture and entrepreneurial spirit, driving our business development and continuous expansion.
Our clearly defined mission and vision have served as a guidepost for management and every individual team member, enabling us to establish the company as one of the leaders in innovative products for the endovascular treatment of peripheral vascular and aortic disease.
Bentley Endovascular Group AB:
Strategy
Our proven business model has been based on the strategic plan for 2019-2022, providing a strong financial track record.
This sustainable business model has now been refined into a profitable growth strategy for the Bentley Endovascular Group 2023-2026.
We will keep on developing best-in-class products and services and adding to our niche-focused, largely patent and utility model protected product portfolio, which will be backed by a strong pipeline and indications roadmap in the coming years.
Our self-challenging organization will continue to drive innovation, profitable growth and value creation for our stakeholders while staying true to our mission and values.
BeInnovative
We concentrate on the development of unique products and strive to find creative answers to the questions facing the healthcare sector.
BeResponsible
We take care of better health, our region and the environment. Every member of our team is motivated to make an important contribution to the quality of life.
BeDedicated
A keen customer focus and adherence to international standards help us to guarantee products and services of unsurpassed quality.
BeEffective
We strive for time- and cost-efficient solutions in order to satisfy the multifaceted interests of our customers and patients around the world.
Goals
The Next Era of Growth
In 2022, we launched the next era of growth with far-reaching strategic decisions. By adding a new product, the BeBack catheter, to our product range, we are paving the way for exploiting the growth opportunities in the interventional radiology market.
In June 2023, we acquired the Swiss medtech company Bentley Switzerland AG, a reliable key supplier for us for many years. With this acquisition, we strengthened our supply chain by nearshoring.
With seven product lines, we are now able to provide our customers with a high-quality, diverse range of lifesaving products. Our business is expanding and preparing to enter new major markets, such as the United States, which we expect to enter in 2027.
While consistently striving to expand our product portfolio and registrations, we are internally working on an IPO readiness process aimed at the Nasdaq Stockholm First North Premier segment, which comprises numerous life sciences and tech growth companies.
With the plans to potentially float the newly established holding company Bentley Endovascular Group AB, Stockholm, in the foreseeable future, this should mark yet another major milestone in Bentley’s history.
Strong Underlying Market Trend
Our organic growth is propelled by the megatrend of an aging population subject to rising cholesterol levels and increasingly requiring endovascular treatment of aortic and peripheral diseases.
We are operating in an oligopolistic industry. The market provides for more than 9% organic CAGR in our segments, driven by soaring stent demand.
The corresponding addressable total global market value for covered stents and peripheral CTO* devices is projected to grow from USD 800 million in 2022 to USD 1,400 million by 2028.
* Chronic total occlusion
Source LEK Consulting based on interviews, research, analysis and third party data
Disclaimer: Third parties may not rely on the information provided
Soaring demand and market volume projected
