In 1 year, Codeo Medical has made a leading position in the reconditioned medical device market thanks to an innovative positioning: supporting biomedical engineers in the purchase and valuation of their second-hand equipment. Strengthened by a French and European market in demand, Codeo Medical achieved a turnover of 1 million euros in 2018 and plans to double this figure by 2019.
Refurbished goods, a market with untapped potential.
The circular economy has become a trend in many markets in just a few years. While the medical market is no exception, France is lagging behind in comparison with neighbouring countries such as Germany, Italy and the United Kingdom.
Building on this potential and the Codeo Group's 14 years of experience in the refurbished market, Codeo Medical was created at the end of 2017 to offer hospitals, clinics and imaging centers solutions for purchasing and reselling quality refurbished equipment.
"France is one of the best-equipped countries in the world in terms of medical equipment, but paradoxically it is the European country where reconditioned equipment is the least developed. We intend to reverse this trend and make our territory an example in terms of purchasing reconditioned equipment," explains Isabelle Grange, Partner and Development Director of Codeo Medical.
In one year, more than a hundred establishments have entrusted Codeo Medical with the purchase or resale of their second-hand equipment.
A mission: to change mentalities from second-hand to reconditioned
Thanks to its expertise, Codeo Medical intends to restore the nobility of the French reconditioned medical equipment market.
Working completely independently from manufacturers and thanks to trusted partners, Codeo Medical offers healthcare professionals solutions enabling them to:
- Promote their refurbished equipment to generate additional budgetary resources,
- Complete their fleet with old-generation equipment to maintain its homogeneity and avoid training costs,
- Renew their fleet with quality equipment while controlling their budget.
"Today, 80% of the products we resell come from French establishments. It is just regrettable that this cutting-edge equipment benefits exports rather than the domestic market, while establishments located in medical deserts struggle to equip themselves," adds Stéphanie Vignon, Partner and General Manager of Codeo Medical.
In 2019, Codeo Medical plans to continue its development with a doubling of its turnover and the strengthening of its teams of biomedical sales engineers and technicians.
