Dream Start Wakens Investor Hopes for Impression Healthcare
Published on: | by Geoff Tait
An up-and-coming dental impression company, Impression Healthcare (ASX:IHL), has reached a milestone of its first 1,000 units sold. Impression is Australia’s largest ‘dental impression’ company, with a specific business model of enabling methods of DIY dentalcare, thereby prevent debilitating mouth-related problems such as bruxism at little to no cost.
Impression’s ‘Knight Guard’ product has attained registration by the Therapeutic Goods Administration (TGA) and has now reached total sales of 1,000 units, having been launched earlier this year in June. The milestone demonstrates Impression’s ability to successfully launch innovative and revenue-generative products, but also, validates its inherent ‘DIY-dentalcare’ model designed to empower end-users with the ability to treat various ailments without the need for a dentist.
Over the past five months, sales have increased by around 20% month-on-month, according to Impression, and have diversified its revenue stream significantly.
However IHL is still in its early stages of growth and investors should seek professional financial advice if considering this stock for their portfolio.
Furthermore, Impression says that in addition to growing sales, there has been an overall increase in the average value of each order.
Impression’s disruptive ‘direct-to-consumer’ purchasing model provides consumers with a high-quality and more-affordable night guard for the treatment of bruxism (teeth grinding and clenching) without the need to be prescribed or fitted by a dentist.
One of its flagship products — The Knight Guard — meets a significant and growing demand for affordable and customised dental devices for bruxism and are manufactured by experienced dental technicians, based in Melbourne, Australia.
According to the Sleep Health Foundation, approximately 50% of Australia’s population experience occasional bruxism and is considered to be a regular problem for about 5% of the population.
Impression is adamant its product-range will continue to grow and develop to further suit the needs of its customers. The strong level of confidence is partly explained by the prohibitive cost of professional dentist consultations that can tally as high as $1,200 per visit, compared to Impression’s pricing range of $130-$230, for the treatment of the same underlying ailment such as bruxism.
For the time being, Impression has only gradually initiated its marketing, PR and advertising activities to promote its product range, admitting it has so far relied on “repeat customers and customer referrals” for the bulk of its growth. Impression’s product-range was recently featured on Channel 9 News and ‘The Morning Show’ on Channel 7, which has led to further public awareness of its market presence.
Impression CEO, Matt Weston, said, “The board is excited by the initial brand development of the Knight Guard and the growth trajectory thus far has been impressive as we continue to optimise our marketing strategy to hasten sales.
“Our business model is disruptive to the traditional dental devices market and the price point and quality of The Knight Guard has helped us to drive sales”.
“Our continuing focus is to generate further brand awareness and to drive traffic to The Knight Guard website. The website conversion rate is currently 2.46% month-to-date but has had daily peaks up to 4.37% so it appears that marketing momentum continues to gain traction,” he added.