Mentice is a global leader in simulation solutions for Image-Guided Interventional Therapies (IGIT). The company’s simulators are designed to educate, train, and refine the skills of healthcare professionals across a wide range of interventional procedures and when introducing new clinical instruments.
Mentice’s simulation platforms function as “flight simulators” for physicians and clinical teams – delivering highly realistic, hands-on experiences that closely replicate real-life clinical scenarios.
Strong sales performance
In 2025, Mentice has continued to make key strategic moves to further strengthen its position as a global leader in simulation solutions for endovascular procedures. According to the company’s Q1 report, order intake grew by 15 per cent, reaching SEK 43.7 million, with 11 per cent organic growth – a clear indicator of continued demand for Mentice’s solutions.
Sales performance by region during Q1 demonstrated solid momentum in the Americas, with a 17 per cent year-on-year increase, and strong growth the APAC region, which recorded an 88 per cent rise – though from a relatively low base. In the EMEA region, sales grew by 3.9 per cent, falling short of the company’s expectations. Looking ahead, Mentice will focus on overcoming challenges in EMEA while continuing to strengthen momentum in the Americas, its largest and most strategically important market.
Macroeconomic headwinds
EBITDA for the quarter was SEK -19.2 million, impacted by SEK 3.5 million in one-time restructuring costs and SEK 5 million in currency effects, primarily due to a weakening US dollar.
Mentice’s CEO Frans Venker explains:
– A weakening dollar, proposed tariffs, and an overall weaker outlook present a more challenging environment to navigate. Current foreign exchange rate movements, particularly the US dollar, present the most notable challenge. The strengthened Swedish Krona will impact our profitability going forward, and we are currently exploring mitigating measures.
Strategic reorganisation and integration of business areas
In Q1, Mentice initiated key organisational changes to align with its mid- and long-term strategic goals. Special attention is now being directed toward product development within Healthcare Systems (HCS).
Mentice has also decided to integrate the Strategic Alliances (SA) business area into the Medical Device Industry (MDI) business segment. The result is two business areas with clear distinctions: Healthcare Systems (HCS) and Medical Device Industry (MDI).
A recent milestone within the HCS segment was the launch of the treatment planning application Ankyras in Brazil. Mentice is currently awaiting FDA approval for its launch in the U.S.
The company also sees significant untapped potential within the MDI, including opportunities to form new partnerships in adjacent fields such as robotics.
CEO comments on the Q1 performance
BioStock reached out to CEO Frans Venker to learn more about the first few months of 2025.
Q1 delivered strong sales growth, with revenues rising 19.5 per cent year-on-year. What were the main factors driving this performance?
– We received strong demand from our Medical Device customers across all regions, with particularly notable momentum in the U.S. This growth was largely driven by high-performing clinical areas such as Electrophysiology, Structural Heart and the Neurovascular segments. Additionally, the APAC region delivered notable growth, although this was measured against a relatively low baseline from the same quarter last year.
Sales momentum in the Americas and APAC was notably strong. What strategies have proven most effective in driving growth in these regions?
– Growth was driven by both our Physical Simulation and Virtual Simulation solutions linked to hardware, which continues to support the future growth in software sales and software subscription models going forward. Our ability to deliver clinically relevant, advance solutions reinforces our position as a trusted partner to the Medical Device Industry, providing solutions that resonate in clinical outcomes and quality.
– On a separate note, the Healthcare systems segment was not particularly strong in OIT adoption and revenue contribution. We are currently re-evaluating our value proposition in this area, with a focus on the appeal and driving greater adoption of our virtual simulation solutions within hospital settings.
Sales in the EMEA region grew modestly but fell short of expectations. What challenges are you facing there, and how are you planning to address them?
– The challenges in the EMEA region are internal rather than market-driven and are fully within our control. Strengthening our presence in key countries by putting the right teams in place is essential to delivering tailored solutions that meet customer needs. With these adjustments underway, we anticipate a further ramp up in our sales throughout the remainder of 2025.
With the Strategic Alliances business segment now absorbed into the Medical Device Industry segment, how do you see this enhancing your ability to serve MedTech partners?
– We are very enthusiastic about our continued partnership with our strategic alliance partners, and those relationships remain strong and central to our business.
– Since the majority of Strategic Alliance business already aligns closely with our Medical Device industry (MDI) operations, consolidating them under the MDI segment provides greater clarity and efficiency from a reporting and operational standpoint. This integration enhances our ability to deliver focused, high-impact solutions to our MedTech partners.
2025 has been marked by a challenging macroeconomic environment, including a weakening dollar and proposed global tariffs. How is Mentice planning to stay agile and resilient amid continued economic uncertainty?
– We are continuously reviewing our cost structure, with particular focus on operational expenses, to ensure we remain agile in the face of a stronger Swedish Krona.
– At the same time, we are leveraging the flexibility of our global supply chain to adapt to changing tariffs situations. We have a global supply chain in place, which allows us rebalance manufacturing activities as needed and mitigate adverse impacts.
– Additionally, we are actively pursuing new revenue initiatives, to sustain growth and help off-set adverse currency effects.
