Senseonics Holdings, Inc. (AMEX:SENS) Q3 2023 Earnings Call Transcript

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Mukul Jain: Late ‘24.

Jayson Bedford: Okay.

Mukul Jain: So again, that’s expectation, right, and then if everything works out.

Jayson Bedford: Right, okay. Just in terms of the US business, how many inserters do you have now?

Tim Goodnow: You know what, Jason, I’ll have to get back to you on that with the current number of inserters, but do you know?

Rick Sullivan: It’s 1,200 or 1,300.

Tim Goodnow: Yeah, it’s over 1,000.

Rick Sullivan: Right.

Tim Goodnow: It’s much more concentrated in MPG. I think there were 36 of those folks. But, it’s over 1,000.

Jayson Bedford: Sorry, Tim, what was the 36 in MPG?

Tim Goodnow: Yeah. So there’s 36 in MPG currently. We’re looking to expand that.

Jayson Bedford: Okay. And then just, what is the rough mix between endos and non-endos in terms of your inserters?

Tim Goodnow: There still is a heavy endo, but by far the growth is coming outside endocrinology. As we said, if we’re seeing — when we’re seeing patients that are typically in smaller offices, especially Medicare patients, it’s much more likely that the doctor won’t have the patient flow to go through the training, and they’ll use it. Where we’re getting the larger volume MDIs and pumpers, they’re still typically in endocrinology practices. So endocrinology is still predominant, but the other portion is growing quite fast. And I’m sure that we’ll surpass that in ‘24.

Jayson Bedford: Okay, okay, that’s helpful. And then just, is there any approximation of Type 1 and Type 2 users?

Tim Goodnow: We’ve got about 65% that are now Type 2, so one-third, two-third.

Jayson Bedford: 65 Type 2, okay.

Tim Goodnow: Right.

Jayson Bedford: And then just internationally, why is Italy so strong versus some of the other countries? Is it just the tender/reimbursement dynamics? And then just on that, this German medical aid catalog, does that resolve the access issue?

Tim Goodnow: In Italy, it’s a couple of factors. Obviously, the team has done an exceptionally good job. They’ve executed very well over there. Quite frankly, one of the reasons they executed well is also why they have good tenders, right? So I think it’s just a very good team that has done a great job with Eversense and a lot of the patients over there really like it. In Germany, the catalog number is important. We have been operating, which has been somewhat painful from our — our prior distributor was not able to get this code. In a sense, he’s done a great job now at getting this one hurdle out of the way. So it becomes more of the rule as opposed to the exception.

Jayson Bedford: Okay. All right. Thank you. I’ll get back in queue.

Operator: Thank you. And ladies and gentlemen, this concludes our question-and-answer session. I’d like to turn the conference back over to the management team for any closing remarks.

Tim Goodnow: Great. Well, thank you. We do certainly appreciate everyone’s time this afternoon and look forward to speaking again in the future. Have a good day, take care.

Operator: Thank you. This concludes today’s conference call. We thank you all for attending today’s presentation. You may now disconnect your lines and have a wonderful day.

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