Tristel on track despite US market delays

(Sharecast News) - Infection prevention product manufacturer Tristel said in an update on Monday that, after achieving a record first half, it was on track to meet or exceed its three-year revenue growth target of 10% to 15% by June next year. The AIM-traded firm, which was holding its annual general meeting, noted continued overall growth and trading in line with expectations, as it addressed developments in key markets.

Chief executive officer Matt Sassone said that in the United States, the company had been onboarding new healthcare accounts, although sales of its ULT product were lagging behind expectations due to stringent purchasing processes and sales rep training challenges with its partner Parker Laboratories.

Despite the hurdles, customer feedback had been positive, and the sales pipeline was still strong, he said.

A significant milestone was reached with Tristel ULT's inclusion in the revised American National Standard guidelines for high-level disinfection (HLD), formally recognising chlorine dioxide foam as an approved HLD method.

Additionally, Tristel said it had filed a 501(k) premarket notification with the US Food and Drug Administration (FDA) for Tristel OPH, its disinfectant foam for ophthalmic devices.

While clearance had been delayed due to a request for additional information, the company said it expected to respond within the FDA's 180-day window, and remained optimistic about the product's US market potential.

In Europe, Tristel said its long-established German market had exceeded expectations, driven by updated KRINKO guidelines that strongly endorsed wiping as a method for HLD.

The board said that regulatory validation had bolstered adoption of Tristel's technology in the region.

Tristel said it would provide further updates when it announces its interim results on 24 February.

At 1139 GMT, shares in Tristel were down 3.59% at 376p.

Reporting by Josh White for Sharecast.com.