ITP, a Polish company operating on the market of aesthetic medicine, plans to focus on foreign development. The company’s products are already present in 70 countries around the world.
ITP: From consulting to production
The company started its operations in 2006. Initially, ITP was to be a consulting company offering support to foreign companies interested in entering Poland. In response to the market demand, it quickly developed into a distributor of aesthetic medicine equipment. In 2012, it launched its own products – tissue fillers.
Currently, ITP also manufactures its own devices for the aesthetic medicine market. Katarzyna Nadolna, general manager, says in an interview with Puls Biznesu that there is currently no company in Poland operating in this segment that could compete with ITP in terms of the scale of its operations. What is more, the vast majority of aesthetic medicine clinics in Poland are at least partly equipped by the company. After the dynamic development in Poland, the time has come for foreign expansion.
ITP targets United States and Asia
According to the newspaper’s information, ITP intends to grow at a rate of around 8% per annum in Poland. The priority for the coming years, however, is to expand on foreign markets. Currently, the company’s products are distributed in 70 countries, and sales outside Poland account for over 70 percent of its revenues. In 2017, these amounted to over PLN 120m and almost doubled compared to 2015.
The company wants to strengthen its position in the United States, where it opened a branch in January 2019. It is awaiting FDA certification. ITP is also preparing to enter the Asian market, including China. ITP wants to open an office in Singapore or Hong Kong in 2020. In Europe, it will open offices in France, Spain, Germany and Great Britain.
Such a dynamic development will be possible thanks to cooperation with Abris Capital Partners. ITP counts not only on business and financial support, but also on strategic contacts.