MedShift Accelerates Tech in 2022 Key Figures and 2022 Results

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With 88% year over year aesthetic technology growth, MedShift releases a summary of 2022 with hints of plans for the future.

MedShift has seen 40% overall revenue growth year over year, and that is especially highlighted by significant demand in our Technology division, which witnessed year-over-year growth of more than 88%

In its seventh year of business, Charlotte-based medical-technology company, MedShift, continued to lead in the aesthetic industry, with recognition by Inc 5000, Titan Business Awards, and Charlotte Business Journal. MedShift is delivering on its commitment to innovation through tech enabled solutions that solve key challenges for the most reputable OEM’s in aesthetics. Under the leadership of CEO Joe Gasque, MedShift continued its steady profitable delivery. “This year we have exceeded our goals through great partnerships with our OEM’s and clinician practices. I am very proud that we have continued to attract, retain and grow a high performing MedShift Team that grew to 30 teammates in 2022. MedShift has seen 40% overall revenue growth year over year, and that is especially highlighted by significant demand in our Technology division, which witnessed year-over-year growth of more than 88%. I could not be more proud of the team and the dedication and execution achieved throughout this year,” says Gasque.

The Technology team, led by VP of Engineering Adam Walsh, continues its path of innovation and feature rich product launches. The Software team has implemented SaaS Fintech, Sales Enablement, and eCommerce solutions for multiple aesthetic manufacturers while reducing costs and improving customer satisfaction. Adam Walsh, VP of Engineering, says, “Our team achieved significant milestones enabling scale and efficiency across the prior twelve months. Now shipping our embedded IoT modules for real time device reporting globally as well as creating a turn key platform for Ideal Curves, a pay-per-use medical device. It’s fulfilling to see MedShift deliver enterprise software solutions across the spectrum of medical device, injectable, and implant manufacturers in the aesthetic space and I am looking forward to a breakthrough announcement in Q1 of 2023.”

One of the newest hires early in 2022 was Sean Shapiro as Chief Commercial Officer. Shapiro has successfully navigated multiple commercial product launches, led sales teams, and built infrastructure that helped lead combined acquisition value north of a billion dollars for companies including Soliton, Ulthera, and CoolSculpting. Shapiro shares, “MedShift’s commercial business has grown significantly in 2022 due to the strong partnership we have with our OEM partners. Our OEM partnerships are set in our core beliefs focused on being Humble, Hungry and Customer Focused.” MedShift’s device business continues to thrive as we expand our portfolio with the latest technology available. CEO Gasque has this to say about MedShift’s device growth, “I am very excited for the demand MedShift has seen this year. As a company that centers around our people and partners, I am very happy to be expanding deep and broad relationships with our Manufacturer partners and with our 1800 clinical practices.”

MedShift’s marketing arm launched an overhaul of the Company’s store which supports the direct to clinician sale of the company’s consumable and injectable portfolio. Chief Commercial Officer, Sean Shapiro, says, “We have seen some amazing and truly unprecedented market demand for our device, technology, and injectable/consumable portfolio. As a technology and aesthetic company, it is important that we are building innovative, beautiful platforms to best serve our customers. I think this new iteration of the store reflects this well.” The store continues to expand its offerings, adding in exosome systems from EXO|E and Aesthetic Management Partners, GE Healthcare's handheld ultrasound VScan Air and multiple skincare products from AMP skin care.”

2022 did not see MedShift slow down, and 2023 is expected to be another exciting year with innovative technology releases, additional products integrated to the broad portfolio, as well as the continued expansion of the talented team. In the new year, the company has high expectations for revenue growth, client expansion, and overall product development, with a special highlight in SaaS and IoT technology.

About MedShift
MedShift, founded in 2015 in Charlotte, NC, is a uniquely positioned medical technology company, serving as a valuable supply chain solution linking providers and suppliers in the fragmented, rapidly changing aesthetics industry. MedShift offers unparalleled value to aesthetic focused surgeons and practitioners by bundling leading medical devices with its proprietary technology, services, and access to discounted consumables. For suppliers, MedShift is a large device customer, serving as an access point to fragmented end markets while accelerating sales velocity, as well as a provider of proprietary enterprise software and technology solutions. Additionally, in its first year of eligibility, MedShift ranked 185 on the 2020 Inc. 5000 list, leading as the 15th fastest growing health company in the United States.

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Victoria Olszowy
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