NanoSonics

Who is NanoSonics?

NanoSonics is an Australia based infection prevention company. Their flagship product, the Trophon revolutionized Ultrasonic Probe disinfection. This device allows end users to clean probes faster, and with greater efficacy than ever before. The superior technology and brilliant partnerships allowed NanoSonics to reach a net revenue of $67.5 million in 2017, with only 1 product, the Trophon.

How was cleaning done before?

Many medical devices are cleaned in an autoclave. Autoclaves provide a heated, pressurized chamber, that uses steam to kill bacteria. While these are effective, ultrasound probes have sensitive technology that would not be resistant to an autoclave.

Instead, they are often cleaned with disinfectant baths. These disinfectant baths require a contact time of 5-45 minutes depending on the strength of the disinfectant. The contact time is typically inversely proportional to the safety of the chemical. This presents as a significant problem. Probes are expensive, and if each probe is out of commission for up to 45 minutes between patients, the number of patients seen per day is limited.

Superior Technology

The Trophon allows ultrasonic probes to be cleaned in 7 minutes. It does so by using vaporized hydrogen peroxide. The ultrasonic probe is placed in the Trophon and the chemicals are sprayed on the probe in a self contained device. It’s easy to use, significantly faster than alternative methods, and safe.

Brilliant Partnerships

2 years after the Trophon’s release, NanoSonics entered a partnership with GE, one of the largest ultrasonic probe manufacturers. The Trophon was listed in the IFU for GE’s probes as THE cleaning device to be used. GE also utilized their network to sell the Trophon in exchange for a share of the profits. The results were incredible for NanoSonics. By 2017, just 6 years after the start of their partnership, they were in 42% of North American facilities that used ultrasonic probes.

NanoSonics utilized a major player in their desired marketplace, authored an exclusive deal to use their sales network and talent, and grew significantly because of it. They had annual revenue of $763,000 in their last year before the partnership. Just 7 years later, they had an annual revenue of $67.5 million.

What can we learn?

Innovation matters, but partnerships can fuel rapid growth. The Trophon was an innovative product, that was able to shape a market. However, by partnering with an organization that accounted for 24% of the target market, NanoSonics was able to greatly accelerate their growth.