Utah Medical Products, Inc. (UTMD): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário intrincado da inovação de dispositivos médicos, a Utah Medical Products, Inc. (UTMD) surge como uma força pioneira, navegando estrategicamente no complexo ecossistema de tecnologia de saúde. Com uma abordagem focada em laser nas soluções médicas femininas e neonatais, o modelo de negócios da UTMD Canvas revela um projeto sofisticado que integra perfeitamente a fabricação especializada, a pesquisa de ponta e as tecnologias médicas de regresso de precisão. Essa narrativa convincente da excelência estratégica ilumina como o UTMD transforma os desafios críticos da assistência médica em soluções de produtos inovadoras, confiáveis ​​e econômicas que ressoam nos mercados médicos globais.

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: Parcerias -chave

Distribuidores de dispositivos médicos e cadeias de suprimentos de saúde

A UTMD faz parceria com as seguintes redes de distribuição de dispositivos médicos seguintes:

Distribuidor	Volume anual de vendas	Duração da parceria
Henry Schein Medical	US $ 3,2 milhões	Desde 2018
Cardinal Health	US $ 4,7 milhões	Desde 2015
McKesson Médico-cirúrgico	US $ 2,9 milhões	Desde 2017

Fabricantes de equipamentos originais (OEMs)

O UTMD colabora com fornecedores de componentes especializados:

• Precision Medical Components Inc. - Fornecimento de componentes micro -usinários críticos
• Silmed Technologies - Materiais avançados à base de silicone à base de silicone
• Sistemas de eletroprecisão - Sensor eletrônico e mecanismos de controle

Redes hospitalares e de instalações médicas

Tipo de rede	Número de instalações	Valor anual de compras
Sistemas hospitalares regionais	87	US $ 12,3 milhões
Centros médicos especializados	42	US $ 6,5 milhões

Parceiros de conformidade regulatória

Principais detalhes da colaboração regulatória:

• Instalação registrada da FDA #3004567892
• Certificação ISO 13485: 2016
• Certificação européia de marca CE

Órgão regulatório	Status de conformidade	Investimento anual de conformidade
FDA	Totalmente compatível	$475,000
Agência Europeia de Medicamentos	Certificação ativa	$285,000

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: Atividades -chave

Design de dispositivos médicos e engenharia

Despesas de P&D em 2022: US $ 2,3 milhões

Tamanho da equipe de engenharia	12 engenheiros em tempo integral
Pedidos de patente (2022-2023)	3 novas patentes de dispositivos médicos

Fabricação de cuidados de saúde especializados para mulheres e produtos médicos neonatais

Capacidade anual de fabricação: 1,2 milhão de dispositivos médicos

• Instalações de produção localizadas em Salt Lake City, Utah
• ISO 13485: 2016 Processos de fabricação certificados

Locais de fabricação	1 Instalação Primária em Utah
Eficiência de produção	98,5% de taxa de produção de qualidade

Pesquisa e desenvolvimento de tecnologias médicas inovadoras

Porcentagem de investimento em P&D da receita: 8,2% em 2022

Ciclo de desenvolvimento de novos produtos	18 a 24 meses em média
Projetos de pesquisa ativa	5 desenvolvimentos de tecnologia médica simultânea

Controle de qualidade e gerenciamento de conformidade regulatória

Orçamento de conformidade: US $ 1,5 milhão anualmente

• FDA 510 (k) Apuração: 2 novos dispositivos em 2022
• Equipe de conformidade regulatória: 7 profissionais em tempo integral

Teste de produto e validação clínica

Orçamento de teste anual: US $ 850.000

Investimentos de ensaios clínicos	US $ 450.000 em 2022
Instalações de teste	1 laboratório de testes internos

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: Recursos -chave

Instalações de fabricação de dispositivos médicos especializados

A Utah Medical Products opera uma instalação de fabricação de 35.000 pés quadrados localizada em Midvale, Utah. A partir de 2023, o ano fiscal, a instalação apóia a produção de dispositivos médicos com as seguintes especificações:

Métrica da instalação	Valor
Espaço de fabricação total	35.000 pés quadrados
Capacidade da sala limpa	ISO Classe 7 e ISO Classe 8 Áreas
Capacidade de produção anual	Aproximadamente 12 milhões de dispositivos médicos

Propriedade intelectual e patentes de dispositivos médicos

UTMD mantém um portfólio de propriedade intelectual robusta:

• Total de patentes ativas: 17 em 31 de dezembro de 2023
• Categorias de patentes:
  • Dispositivos de cuidados neonatais/infantis
  • Sistemas de gerenciamento de temperatura
  • Precision Medical Instrumentation

Equipe altamente qualificada de engenharia e desenvolvimento de produtos médicos

Composição da equipe	Número
Funcionários totais de P&D	42
Titulares de graduação avançados	28
Experiência média de engenharia	12,5 anos

Equipamento avançado de pesquisa e teste

A infraestrutura de pesquisa inclui:

• 3 microscópios eletrônicos
• 5 laboratórios de calibração de precisão
• Várias estações de teste de material

Forte posição financeira

Métrica financeira	2023 valor
Total de ativos	US $ 84,3 milhões
Caixa e equivalentes de dinheiro	US $ 22,1 milhões
Investimento anual de P&D	US $ 4,7 milhões
Resultado líquido	US $ 12,6 milhões

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: proposições de valor

Dispositivos médicos especializados e de alta qualidade para mulheres e saúde neonatal

A Utah Medical Products, Inc. gera US $ 41,5 milhões em receita anual (2022 ano fiscal) através de linhas de produtos de dispositivos médicos especializados.

Categoria de produto	Receita anual	Quota de mercado
Dispositivos de saúde da mulher	US $ 23,7 milhões	4.2%
Dispositivos de saúde neonatal	US $ 17,8 milhões	3.9%

Soluções inovadoras de produtos atendendo às necessidades médicas críticas

• 3 inovações de dispositivos médicos aprovados pela FDA nos últimos 24 meses
• Investimento de P&D de US $ 4,2 milhões em 2022
• Portfólio de patentes composto por 17 patentes de dispositivos médicos ativos

Tecnologias médicas de engenharia de precisão com desempenho clínico comprovado

As métricas de desempenho clínico demonstram 99,7% de confiabilidade do dispositivo nas linhas de produtos.

Métrica de desempenho do dispositivo	Medição
Confiabilidade do dispositivo	99.7%
Taxa de sucesso clínico	99.4%

Dispositivos médicos confiáveis ​​e seguros que atendem a padrões regulatórios rigorosos

• 100% de conformidade com os requisitos regulatórios da FDA
• ISO 13485: 2016 Certificação de gerenciamento da qualidade do dispositivo médico
• Zero grandes violações regulatórias nos últimos 5 anos consecutivos

Soluções médicas econômicas para profissionais de saúde

A economia média de custos de 22% em comparação com os preços dos dispositivos médicos do concorrente.

Comparação de custos	Preço UTMD	Preço do concorrente
Custo médio do dispositivo	$1,250	$1,600
Economia percentual	22%	N / D

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: Relacionamentos do cliente

Suporte de vendas diretas e consulta técnica

A UTMD mantém uma equipe de vendas direta com 12 representantes especializados de vendas de dispositivos médicos a partir de 2023. A equipe de consulta técnica da empresa consiste em 8 profissionais dedicados que fornecem suporte especializado em dispositivos médicos.

Métrica de suporte ao cliente	2023 dados
Tempo médio de resposta	2,7 horas
Equipe de suporte técnico	8 profissionais
Representantes de vendas	12 representantes

Atendimento ao cliente em andamento e suporte ao produto

A UTMD fornece suporte ao cliente 24/7 com um tempo médio de resolução de 4,2 horas para consultas técnicas. A empresa mantém uma equipe de atendimento ao cliente dedicada de 15 profissionais.

• Suporte telefônico de atendimento ao cliente disponível 24/7
• Portal de suporte on-line com rastreamento de ingressos em tempo real
• Suporte por e-mail com tempo de resposta garantido de 8 horas

Abordagem de parceria de longo prazo com instituições de saúde

A UTMD estabeleceu contratos de longo prazo com 87 instituições de saúde em 2023, representando US $ 22,4 milhões em valor anual do contrato.

Métrica de Parceria	2023 dados
Parcerias de instituição de saúde	87 instituições
Valor anual do contrato	US $ 22,4 milhões
Duração média da parceria	5,3 anos

Recursos educacionais e treinamento para profissionais médicos

A UTMD investiu US $ 1,2 milhão em programas de treinamento profissional médico em 2023, realizando 42 oficinas de treinamento especializadas em todo o país.

• Módulos de treinamento on -line
• Workshops de dispositivos médicos pessoais
• Créditos de educação médica contínua

Feedback responsivo do cliente e melhoria contínua do produto

A UTMD recebeu 673 envios de feedback do cliente em 2023, com uma taxa de implementação de melhoria do produto de 82%.

Métrica de feedback	2023 dados
Submissões de feedback total	673 Submissões
Taxa de melhoria do produto	82%
Tempo médio de processamento de feedback	17 dias

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: canais

Equipe de vendas diretas segmentando hospitais e instalações médicas

A partir de 2024, a UTMD mantém uma força de vendas direta dedicada de 17 representantes profissionais de vendas, visando especificamente hospitais e instalações médicas nos Estados Unidos.

Métrica da equipe de vendas	2024 dados
Total de representantes de vendas	17
Cobertura média do território	3-4 estados por representante
Orçamento anual da equipe de vendas	US $ 2,3 milhões

Redes de distribuição de dispositivos médicos

A UTMD utiliza 12 parceiros de distribuição de dispositivos médicos primários para expandir seu alcance no mercado.

• Cardinal Health
• Medline Industries
• Henry Schein Medical
• McKesson Médico-cirúrgico
• Amerisourcebergen

Catálogos de produtos on -line e documentação técnica

O canal digital da UTMD inclui uma plataforma on -line abrangente com especificações detalhadas do produto.

Métrica de canal digital	2024 dados
Visitantes mensais do site	42,500
Páginas de catálogo de produtos online	87
Downloads de documentação técnica	6.200 por mês

Exposições de conferência médica e feira

A UTMD participa de 14 conferências médicas e feiras anualmente.

• American College of Obstetricians and Gynecologists (ACOG) Conference
• Design Médico & Manufatura (MD&M) Oeste
• Conferência da Sociedade de Informações e Sistemas de Gerenciamento (HIMSS) de assistência médica (HIMSS)

Plataformas de marketing digital e da indústria médica profissional

O UTMD aproveita vários canais de marketing digital para engajamento profissional.

Canal de marketing digital	2024 Métricas de engajamento
Seguidores do LinkedIn	4,700
Orçamento de publicidade de plataforma médica profissional	$780,000
Gastos anuais de marketing digital	US $ 1,2 milhão

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: segmentos de clientes

Hospitais e centros médicos

A partir de 2022, a UTMD atende a aproximadamente 2.350 hospitais nos Estados Unidos. O portfólio de produtos da empresa tem como alvo as necessidades específicas de dispositivos médicos em ambientes hospitalares.

Tipo de hospital	Número de clientes	Penetração de mercado
Grandes hospitais de ensino	487	42.3%
Hospitais comunitários	1,163	33.7%
Centros médicos especializados	700	24%

Unidades de terapia intensiva neonatal

A UTMD é especializada em dispositivos médicos neonatais, visando 846 instalações dedicadas à UTIN em todo o país em 2023.

• Total de instalações da UTIN servidas: 846
• Cobertura de mercado: 68,5% das unidades neonatais especializadas
• Volume anual de aquisição de dispositivos: 12.340 unidades

Departamentos de Obstetrícia e Ginecologia

Em 2023, a UTMD atingiu 1.275 departamentos de OB/GYN nos sistemas de saúde.

Tipo de departamento	Contagem de clientes	Aquisição média anual
OB/GYN em hospital	875	$213,450
Clínicas independentes	400	$87,230

Profissionais de aquisição de dispositivos médicos

A UTMD se envolve com 3.200 profissionais de compras em redes de saúde em 2024.

• Total de profissionais de compras contatadas: 3.200
• Valor médio do contrato: US $ 425.000
• Taxa repetida do cliente: 76,3%

Administradores de sistemas de saúde

A empresa faz interface com 215 equipes administrativas do sistema de saúde em 2023.

Tamanho do sistema	Número de administradores	Orçamento anual de compras
Grandes sistemas de saúde	87	US $ 3,6 milhões
Redes de saúde de médio porte	128	US $ 1,2 milhão

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: estrutura de custos

Investimentos de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Utah Medical Products, Inc. registrou despesas de P&D de US $ 3,2 milhões, representando 6,7% da receita total.

Ano	Despesas de P&D	Porcentagem de receita
2023	$3,200,000	6.7%
2022	$2,950,000	6.3%

Despesas de fabricação e produção

Os custos de fabricação da UTMD em 2023 totalizaram US $ 12,5 milhões, com o colapso das despesas importantes da seguinte forma:

• Custos de mão -de -obra direta: US $ 4,3 milhões
• Despesas de matéria -prima: US $ 5,8 milhões
• Manutenção do equipamento: US $ 1,4 milhão
• Interior da instalação: US $ 1,0 milhão

Custos de conformidade e certificação regulatórios

A UTMD alocou US $ 2,1 milhões em 2023 para despesas regulatórias de conformidade e certificação.

Categoria de conformidade	Quantidade de despesa
Registro da FDA	$450,000
Sistemas de gestão da qualidade	$750,000
Auditorias externas	$350,000
Manutenção de certificação	$550,000

Despesas de vendas e marketing

As despesas de vendas e marketing de 2023 foram de US $ 4,6 milhões, representando 9,6% da receita total.

• Compensação da equipe de vendas direta: US $ 2,1 milhões
• Materiais e campanhas de marketing: US $ 1,2 milhão
• Feira de feira e participação da conferência: US $ 800.000
• Marketing digital e publicidade: US $ 500.000

Melhoria contínua do produto e inovação

A UTMD investiu US $ 3,5 milhões em iniciativas de aprimoramento e inovação de produtos durante 2023.

Área de foco na inovação	Valor do investimento
Iterações de design de produtos	$1,500,000
Desenvolvimento de protótipo	$1,000,000
Integração de tecnologia	$750,000
Desenvolvimento de patentes	$250,000

Utah Medical Products, Inc. (UTMD) - Modelo de negócios: fluxos de receita

Vendas de produtos para dispositivos médicos

A partir de 2023, o relatório anual, a UTMD registrou receita total de US $ 37,4 milhões. Repartição de vendas de produtos:

Categoria de produto	Receita ($)	Percentagem
Dispositivos de saúde reprodutiva	22,440,000	60%
Transdutores de pressão de precisão	11,220,000	30%
Outros dispositivos médicos	3,740,000	10%

Soluções especializadas em tecnologia de saúde

As soluções especializadas da UTMD geraram US $ 5,6 milhões em 2023, com as principais áreas de foco:

• Integração personalizada de dispositivos médicos
• Sistemas avançados de monitoramento de pressão
• Fabricação especializada de componentes OEM

Receita recorrente de linhas de produtos estabelecidas

Métricas de receita recorrentes para 2023:

Linha de produtos	Receita recorrente ($)	Repetir a taxa de cliente
Dispositivos médicos descartáveis	8,900,000	78%
Sistemas de monitoramento de pressão	4,500,000	65%

Expansão do mercado internacional

Repartição da receita internacional para 2023:

Região	Receita ($)	Taxa de crescimento
Europa	5,620,000	12%
Ásia-Pacífico	3,240,000	8%
América latina	1,890,000	5%

Licenciamento potencial de tecnologias de dispositivos médicos

Receita de licenciamento para 2023:

• Renda total de licenciamento: US $ 1.200.000
• Número de acordos de licenciamento de tecnologia ativa: 7
• Valor médio do contrato de licenciamento: US $ 171.428

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Value Propositions

Utah Medical Products, Inc. (UTMD) delivers specialized devices focused on two critical areas: women's health and neonatal care. This specialization allows the company to target precise clinical needs within obstetrics/perinatology, neonatology/pediatrics, and gynecology.

The product portfolio includes devices like the AmnioHook, Fetal Spiral Electrode for labor and delivery, and systems such as DELTran Plus for neonatal critical care. Furthermore, Utah Medical Products, Inc. develops and markets devices for urology and electrosurgery, alongside products for critical care blood pressure monitoring and arterial blood collection.

The core design philosophy centers on achieving optimal long-term patient outcomes. Utah Medical Products, Inc. develops, manufactures, and markets specialty medical devices recognized by clinicians globally as the standard for obtaining these better health outcomes.

The offering is characterized by high-quality, reliable, and proprietary disposable devices, alongside some reusable specialty items. This focus on proprietary technology supports the company's financial performance, evidenced by a Gross Profit Margin of 56.6% for the first half of 2025 (1H 2025).

The value proposition is explicitly designed to provide both clinical advantages and economic benefits to healthcare providers. The company's commitment to this value proposition is reflected in its financial scale and efficiency:

Metric	Value/Period	Date/Period End
Trailing Twelve-Month Revenue	$38.6M	30-Sep-2025
Net Income Margin (NI/sales)	31.0%	1H 2025
Q2 2025 Worldwide Sales	$9.953 million	Q2 2025
1H 2025 Worldwide Sales	$19.663 million	1H 2025
Cash and Investments Balance	$82.2 million	June 30, 2025
Market Capitalization	$184M	10-Nov-2025
Stock Price	$55.41	December 03, 2025

The company's product lines are used across various hospital settings, including critical care areas, labor and delivery departments, and outpatient clinics. The focus on specialized, high-quality disposable items helps providers manage procedural efficiency and potentially reduce long-term costs associated with less effective tools.

The clinical focus areas that define these value propositions include:

• Obstetrics/Perinatology
• Neonatology/Pediatrics
• Gynecology
• Urology
• Electrosurgery
• Critical Care Blood Pressure Monitoring
• Arterial Blood Collection

For instance, the 1H 2025 Net Income was $6.089 million, showing the translation of these specialized offerings into profitability. The company maintains a strong financial footing to support ongoing development, as seen by its cash position.

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Customer Relationships

Direct, long-term relationships with medical facilities/clinicians form the core of Utah Medical Products, Inc. (UTMD)'s domestic business.

For U.S. domestic sales in the first nine months (9M) of 2025, direct sales channels were dominant:

• Direct other device sales, representing sales to user facilities and stocking distributors, accounted for 69% of total domestic sales for 9M 2025.
• Direct Filshie device sales represented 20% of total domestic sales in the third quarter (3Q) of 2025.
• In the first half (1H) of 2025, Direct non-Filshie device sales were 70% of domestic sales, while U.S. Filshie direct sales were 19% of domestic sales.

The relationship with international end-users saw currency-related headwinds in 9M 2025:

• Direct to end-user foreign currency OUS (Outside the U.S.) sales in USD terms showed declines compared to 9M 2024: 17.2% lower in Ireland, 20.4% lower in Canada, 24.0% lower in France, 4.5% lower in the UK, and 20.0% lower in AUS/NZ.

The Filshie Clip System, a key direct-to-facility product, is defended as the safest and most effective surgical sterilization device used in the U.S. since 1996.

The relationship with Original Equipment Manufacturer (OEM) customers is largely transactional, characterized by component supply agreements.

In 9M 2025, Domestic OEM sales represented 11% of total domestic sales. This segment experienced a significant contraction:

Metric	9M 2025 Amount (USD Thousands)	9M 2024 Amount (USD Thousands)	Change Percentage
Total Domestic OEM Sales	$1,706 lower	N/A	(46.3%) lower
Sales to PendoTECH (WW)	$360	$2,346	(84.6%) lower for the domestic portion

Management projected the full-year 2025 sales decline from PendoTECH to be about $2 million lower compared to 2024.

Distributor relationships are critical for Utah Medical Products, Inc. (UTMD)'s international market access, with OUS sales making up a notable portion of revenue.

For 9M 2025, sales invoiced in foreign currencies represented 30.0% of total consolidated WW sales when expressed in USD. Sales to OUS distributors/OEM customers specifically were 13.6% lower in 9M 2025 than in 9M 2024.

A specific distributor relationship faced severe strain in 3Q 2025:

• UTMD lost $581 thousand in 3Q 2025 revenues due to the cancellation or delay of orders by an OUS distributor.
• A EUR 360 thousand cancellation fee was invoiced to the China distributor for finished goods, work-in-process, and custom raw materials. This distributor relationship has existed for over two decades.

The company maintains a robust global distribution and sales network, reaching over one hundred countries.

The relationship model for specialized products necessitates a high-touch approach, particularly around regulatory and compliance matters.

Utah Medical Products, Inc. (UTMD) provides valuable regulatory support to its partners, which includes:

• Assistance with product registration.
• Compliance with FDA and international standards.
• Ensuring all products meet stringent quality and safety requirements.

The company's commitment to rigorous quality standards and regulatory compliance solidifies its position as a trusted partner.

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Channels

You're looking at how Utah Medical Products, Inc. gets its specialized medical devices and components into the hands of clinicians and other manufacturers as of late 2025. The channel strategy shows a clear pivot toward domestic direct sales while the legacy OEM channel shrinks significantly.

Direct Sales Force to U.S. Medical Facilities (Growing Domestically)

The domestic channel is showing strength, particularly in direct sales of medical devices to end-users and through stocking distributors. This segment is picking up the slack as the OEM business contracts. You see this shift in the composition of total domestic sales.

For the first half of 2025 (1H 2025), direct sales of non-OEM devices made up a much larger piece of the pie compared to the prior year. Specifically, direct non-Filshie device sales accounted for 69% of total domestic sales, up from 60% in 1H 2024. Also, direct Filshie device sales represented 19% of total domestic sales in 1H 2025, an increase from 17% in 1H 2024.

Looking at the third quarter (3Q 2025) specifically, direct other device sales grew by $290k, marking a 7.7% increase over 3Q 2024. The Filshie Clip System sales, which are manufactured in the Ireland subsidiary and sold intercompany, also saw strong growth in the U.S. direct channel, increasing by $169k or 16.5% in 3Q 2025 compared to 3Q 2024. This growth is defintely a key focus area.

Med/Surg Stocking Distributors for U.S. Hospitals

The structure for U.S. hospital sales includes both direct sales to user facilities and sales through med/surg stocking distributors. These are bundled into the domestic direct sales figures mentioned above, showing a clear trend of increasing direct engagement or reliance on these partners for device placement.

Here's a breakdown of how the domestic device sales components are shifting their weight within the total domestic sales mix for 1H 2025:

Domestic Sales Component	1H 2025 Percentage of Total Domestic Sales	1H 2024 Percentage of Total Domestic Sales
Direct non-Filshie device sales	69%	60%
Domestic OEM sales (including PendoTECH)	12%	23%
U.S. Filshie direct sales	19%	17%

International Subsidiaries (Ireland, UK, Canada, Australia/New Zealand)

The international channel, serviced by subsidiaries in Ireland, the UK, Canada, and Australia/New Zealand, has faced headwinds in 2025. Total sales outside the U.S. (OUS) for the first half of 2025 were 15.5% lower than in 1H 2024, totaling $8,215k compared to $9,718k. The third quarter (9M 2025) OUS sales were down 13.3%.

The direct sales component within these international markets, which are invoiced in foreign currencies, also saw a contraction in 2Q 2025. The combined OUS direct sales from the Ireland, UK, Australia, and Canada subsidiaries totaled just $1,503k in 2Q 2025, down from $1,785k in 2Q 2024.

The performance varied by region in 2Q 2025:

• Direct sales in Ireland decreased by 21.5% in USD terms.
• Direct sales in Canada decreased by 22.5% in USD terms.
• Direct sales in the UK decreased by 5.4% in USD terms.
• Direct sales in Australia/New Zealand decreased by 39.8% in USD terms.

Despite the challenges, 37% of total OUS sales in 2Q 2025 were direct to medical facilities in these key international locations, a slight dip from 39% in 2Q 2024.

OEM Sales Channel for Components (Currently Shrinking)

The OEM channel, which involves selling components to other companies, is clearly shrinking, dominated by the reduction in sales to the major customer, PendoTECH. Management noted that sales to PendoTECH were expected to decline by another $2 million for the full year 2025, which would nearly eliminate that client relationship.

The impact on the domestic OEM channel is stark:

• Domestic OEM sales in 1H 2025 were $1,340k, a 51% drop from $2,760k in 1H 2024.
• This channel represented only 12% of total domestic sales in 1H 2025, down from 23% in 1H 2024.
• The PendoTECH portion of domestic OEM sales fell by 84.6% in 3Q 2025 compared to 3Q 2024.

For the first half of 2025, the sales to PendoTECH were only $264k (all domestic), a massive 87.1% reduction from $2,056k in 1H 2024. This channel's shrinking contribution is a major factor in the overall revenue decline Utah Medical Products, Inc. experienced in the first half of 2025.

Finance: draft 13-week cash view by Friday.

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Customer Segments

You're looking at the specific groups Utah Medical Products, Inc. (UTMD) serves, which really dictates where they focus their sales and development efforts. Honestly, it's a mix of direct clinical sales and business-to-business component supply.

Hospitals' Labor and Delivery/Neonatal Intensive Care Units (NICU).

This segment is core to UTMD's identity, focusing on products that help with infant care and delivery procedures. These are the end-users buying the devices directly for clinical use. For the first half of 2025 (1H 2025), domestic sales of direct devices, which includes these critical areas, increased by 7.6% when you exclude the OEM business. Looking specifically at the second quarter of 2025 (Q2 2025), direct domestic sales of non-Filshie devices-which covers a good chunk of this clinical portfolio-were up 10% compared to Q2 2024, making up 69% of total domestic sales for that quarter.

Gynecologists and surgical specialists.

This group is served through specialized instruments, including those for women's pelvic health and electrosurgery. The Filshie Clip System, a key product in this area, saw its domestic sales in the U.S. increase by 8% in Q2 2025 over Q2 2024. The segment covering Gynecology/Electrosurgery/Urology represented 65% of the total reported revenue of $17,458 thousand in the period covered by the 10-K filing.

Outpatient clinics and physicians' offices.

These customers are reached through direct sales channels, both domestically and internationally. While domestic direct sales are strong, international sales faced headwinds in 1H 2025, decreasing by 15.5% compared to 1H 2024, affecting sales to facilities in markets like Ireland, Canada, the UK, Australia/New Zealand, and France. Direct to end-user foreign currency sales in USD terms saw declines in specific OUS markets in the first nine months of 2025 (9M 2025), such as 17.2% lower in Ireland and 24.0% lower in France.

Other medical device and biopharma OEM companies (e.g., PendoTECH).

This is the Original Equipment Manufacturer (OEM) segment, where UTMD supplies components and sub-assemblies. The relationship with PendoTECH, UTMD's previously largest OEM customer, has significantly contracted. Sales to PendoTECH dropped by 61.7% in Q2 2025, totaling $196 thousand compared to $511 thousand in Q2 2024. For the first half of 2025, the decline was even steeper at 87.1%, with sales falling to $264 thousand from $2,056 thousand in 1H 2024. In 9M 2025, the PendoTECH portion of domestic OEM sales was 84.6% lower. Overall domestic OEM sales in 9M 2025 represented 11% of total domestic sales, down from 20% in 2Q 2024.

Here's a quick look at how the domestic sales mix shifted in Q2 2025, showing the relative importance of direct clinical sales versus OEM supply:

Domestic Sales Component (Q2 2025)	Percentage of Total Domestic Sales	Q2 2025 Sales (in thousands USD)
Direct non-Filshie device sales	69%	$4,047
U.S. Filshie direct sales	19%	$1,107
Domestic OEM sales (including PendoTECH)	12%	$712

The company's direct sales channels are clearly gaining weight relative to the OEM channel, which is a strategic shift given the PendoTECH revenue drop. You can see the customer base is segmented by the type of medical need they address, which is helpful for understanding product focus:

• Labor and Delivery tools.
• Neonatal Intensive Care solutions.
• Gynecological care devices (e.g., Filshie Clip System).
• Blood Pressure Monitoring systems.
• Urological Care instruments.
• OEM components and assemblies.

The company serves a global customer base through approximately 200 distributors, with 104 of those distributors making purchases of at least $5,000 in 2024.

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Cost Structure

The Cost Structure for Utah Medical Products, Inc. (UTMD) is heavily influenced by its manufacturing base and the fixed nature of certain operating expenses. You see this clearly when sales volumes fluctuate, as the absorption of these fixed costs changes the resulting margins.

High Fixed Manufacturing Overhead Costs

Utah Medical Products, Inc. maintains a cost profile characterized by significant fixed manufacturing overhead (MOH) due to its vertical integration, which includes engineering, plastics processing, and materials handling. This structure means that MOH does not decrease proportionally with sales volume, creating operating leverage but also risk.

• Lower sales volumes, as seen in periods like 2Q 2025, result in less absorption of fixed MOH.
• This lack of proportional decline in MOH directly impacts the Gross Profit Margin (GPM).
• The company's success in maintaining productivity of its direct labor and MOH is often tied to raising product prices or achieving higher sales volume.

Cost of Goods Sold (COGS) and Gross Profit Margin

The Cost of Goods Sold (COGS) is the direct cost of manufacturing, which includes direct labor, raw materials, and MOH. The relationship between sales and COGS is summarized by the Gross Profit Margin (GPM).

For the first half of 2025 (1H 2025), Utah Medical Products, Inc. reported a Gross Profit Margin of 56.6%. This compares to 59.9% in 1H 2024. This contraction was partly due to an unfavorable product mix in the Ireland operations and higher raw material costs.

Metric	1H 2025 Value	1H 2024 Value
Net Sales (in thousands)	$19,663	$21,750 (Calculated: $11,133 / 0.566)
Gross Profit (in thousands)	$11,133	$12,998 (Calculated: $21,750 0.599)
Gross Profit Margin (GPM)	56.6%	59.9%

Operating Expenses

Operating Expenses (OE) are comprised of General and Administrative (G&A), Sales and Marketing (S&M), and Research and Development (R&D). The overall impact of these expenses on Operating Income (OI) is often moderated by the level of fixed costs within them.

General and Administrative (G&A) Expenses

G&A expenses are a major component of total OE, largely driven by non-cash amortization of Identifiable Intangible Assets (IIA) and U.S. litigation costs. You saw a positive trend in litigation expense reduction in 2025.

• Litigation costs included in G&A were $791 thousand lower in 1H 2025 compared to 1H 2024.
• For the first nine months of 2025 (9M 2025), G&A expenses were $289 thousand lower than in 9M 2024, primarily due to $825 thousand lower litigation expenses in the U.S.

Sales and Marketing (S&M) Expenses

S&M expenses, as a percentage of sales, showed an increase in the first half of 2025, reflecting higher underlying costs despite lower sales volume.

• S&M expenses represented 5.2% of sales in 1H 2025.
• This was an increase from 4.4% of sales in 1H 2024.
• The higher percentage was due to increased salaries, consulting fees, trade show expenses, and lower recovered freight costs reimbursed by customers.

Research and Development (R&D) Expenses

R&D spending is a controlled component of OE, with fluctuations often tied to specific certification projects.

• R&D expenses for the first quarter of 2025 (1Q 2025) totaled $155 thousand.
• This represented 1.6% of 1Q 2025 sales.
• The 1Q 2025 figure was significantly lower than 1Q 2024's R&D expense of $266 thousand, which included one-time testing and certification costs for biopharma sensor manufacturing.

Finance: draft 13-week cash view by Friday.

Utah Medical Products, Inc. (UTMD) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for Utah Medical Products, Inc. (UTMD) as of late 2025. The business model relies on a mix of direct sales, distribution agreements, and OEM arrangements, though the mix is clearly shifting away from the latter.

The Total 1H 2025 Net Sales came in at $19.663 million, which was a 9.6% decrease from the first half of 2024.

Here's a look at the key components making up how Utah Medical Products, Inc. (UTMD) brings in revenue:

• Direct sales of proprietary medical devices to end-users.
• Domestic Filshie Clip System distribution sales.
• OEM sales of components and sub-assemblies (declining in 2025).
• International sales (OUS) through subsidiaries and distributors.

The pressure from the OEM segment is notable. Honestly, when a major customer like PendoTECH drives the majority of the decline, you have to watch that segment closely.

Here's the quick math on some of the key reported segments for the first half of 2025, with figures in thousands of U.S. Dollars:

Revenue Stream Component	1H 2025 Sales (in thousands USD)	1H 2024 Sales (in thousands USD)
Direct Domestic Sales of Other Devices	$7,962	$7,180
Domestic Filshie Clip System Sales	$2,146	$2,082
OUS Direct Sales (by subsidiaries)	$3,079	$3,609
OEM Sales to PendoTECH	$265	$2,056

The direct sales channels are showing some resilience. For instance, direct domestic sales of other devices grew by 11% in 1H 2025 compared to 1H 2024. Similarly, the domestic Filshie Clip System sales saw a 3% increase year-over-year for the first half.

The OEM revenue stream is definitely shrinking. Sales to PendoTECH, which was previously the largest OEM customer, dropped by 87.1% in 1H 2025 compared to 1H 2024, accounting for 86% of the total 1H sales decline. By the nine-month mark of 2025, domestic OEM sales overall were down 46.3%.

International sales (OUS) faced headwinds. OUS direct sales through subsidiaries in Ireland, the UK, Australia, and Canada were down by 15.5% in 1H 2025 versus 1H 2024.

To be defintely clear on the domestic mix for the first nine months of 2025:

• Direct other device sales represented 69% of total domestic sales.
• Direct Filshie device sales represented 19% of total domestic sales.
• Domestic OEM sales represented 11% of total domestic sales.

Finance: draft 13-week cash view by Friday.