January 4, 2023
Establishment Labs has big plans for its Mia Femtech, which is designed to increase breast shape by one to two cup sizes in a 15-minute procedure without general anesthesia.
The Santa Barbara, CA-based company has secured an agreement with Seishin Plastic and Aesthetic Surgery Clinic in Japan, the company's first clinic partner for the Mia Femtech procedure.
“The Japanese market was the original inspiration for Mia," said Juan José Chacón-Quirós, founder and CEO at Establishment Labs. "A significant number of Japanese women are simply not satisfied with their current options for breast aesthetics and our research shows that this new category will increase the breast aesthetics market manyfold.”
While the inspiration came from Japan, Chacón-Quirós said Mia has appeal for women around the world and the company expects to launch the technology in "a number" of markets in the first half of 2023. The procedure is not approved in the United States.
Seishin Plastic and Aesthetic Surgery Clinic was founded in 1993 and operates 10 premium plastic surgery clinics in Japan. Mia will be first available at Seishin’s main Tokyo clinic in Roppongi and at its newest clinic in Ginza.
“We are thrilled to be the first launch partner of Mia," said Tatsuro Kamakura, MD, chief medical officer at Seishin Plastic and Aesthetic Surgery Clinic. “Mia is very important for patients, but it is also very important for the future of breast aesthetics. This procedure increases our productivity, and we expect the Mia experience to attract new patients that we would not have otherwise seen.”
Marie Thibault, a medtech analyst at BTIG, estimates that Establishment Labs could see between $5 million and $10 million in Mia sales this year.
"We continue to view Mia favorably for its short procedure and recovery times, impressive aesthetic and safety outcomes, and significant market opportunity," Thibault said.
Establishment Labs, which also develops the Motiva line of breast implants, is one of Thibault's top picks for 2023.
"In 2023, we expect [Establishment Labs] to enter the Chinese market, possibly launch in the U.S. (pending FDA approval), and officially introduce its minimally invasive Mia Femtech platform. We think these market-expanding catalysts offer upside potential to sales estimates and can help offset any possible slowdown in discretionary spending," Thibault wrote in a BTIG report published last month.
About the Author(s)
You May Also Like