MediKane has historically focused on two market areas, helping people manage their blood sugar levels and acute constipation caused by the very effective opioid analgesic pain killers used in hospital surgery globally.
Two years ago, the board undertook a strategy to enable strong revenue growth by broadening the sales base, thereby reducing revenue risk. MediKane is now operating in 5 separate segments:
- Uses the same supply chain and ‘back office’ requirements (R&D; Quality Assurance; Supply chain management Accounting; Board oversight)
- Has the required resourcing
- Specific revenue and profit targets
The use of market segments enables targeted and proactive marketing for each product in relevant segments and focuses accountabilities – accountability drives performance. Some products will be relevant to more than one segment. Positioning and formulations specified for each segment.