Procyon Corporation, through its wholly-owned subsidiaries Amerx Health Care Corporation and Sirius Medical Supply Inc., develops and markets proprietary medical products for the treatment of pressure ulcers, stasis ulcers, wounds, dermatitis, inflammation and other skin problems. The Company's primary operations are conducted by Amerx, which designs, manufactures and distributes advanced skin and wound care products to healthcare institutions, retailers and practitioners.…
Procyon Corporation, through its wholly-owned subsidiaries Amerx Health Care Corporation and Sirius Medical Supply Inc., develops and markets proprietary medical products for the treatment of pressure ulcers, stasis ulcers, wounds, dermatitis, inflammation and other skin problems. The Company's primary operations are conducted by Amerx, which designs, manufactures and distributes advanced skin and wound care products to healthcare institutions, retailers and practitioners. Sirius no longer has any material operations and does not contribute to the Company's current business activities.
Procyon Corporation generates revenue primarily through the sale of its Amerx-branded wound and skin care products via retail and institutional distributors. The Company's product portfolio includes the Amerigel line featuring Oakin, Helix3 bioactive collagen products, Amerx wound care dressings and kits, Extremit-Ease compression garments and Advantagen surgical collagen powder. Sales are made to hospitals, wound care clinics, nursing homes, home health agencies, pharmacies, medical supply stores and individual healthcare practitioners who treat wounds and skin conditions.
The company operates through the following segments:
- Amerx Health Care Corporation: This segment develops and markets proprietary medical products used in the treatment of pressure ulcers, stasis ulcers, wounds, dermatitis, inflammation and other skin problems. The segment markets a proprietary line of Amerigel advanced skin and wound care products made with Oakin, proven to promote healing in wound and problematic skin conditions, including Amerigel Hydrogel Wound Dressing, Amerigel Post Op Surgical Kits, Amerigel Saline Wound Wash, Amerigel Care Lotion, and Amerigel Barrier Lotion. The segment also offers Helix3 Bioactive Collagen available in Collagen Powder (Helix3 CP) and Collagen Matrix (Helix3 CM), with Helix3 Collagen Gel added in 2022 to address dry to moderate drainage wounds.
- Amerx Health Care Corporation: The segment expanded its product line in fiscal 2016 with the Amerx wound care product line consisting of Amerx Calcium Alginate Dressing, Amerx Foam Dressing, Amerx Gauze Dressing, Amerx Hydrocolloid Dressing, and Amerx Wound Care Kits including Amerx Calcium Alginate Wound Care Kit, Amerx Collagen Matrix Wound Care Kit, Amerx Collagen Powder Wound Care Kit, Amerx Foam Wound Care Kit and Amerx Hydrogel Wound Care Kit. In fiscal 2017, the segment introduced the Extremit-Ease Compression Garment line, which received a patent in June 2022, enabling competition in the global compression therapy market. The segment also added Amerigel Hand Sanitizer in fiscal 2021, a premium product containing 70% alcohol with moisturizers to prevent skin dryness from heavy use.
- Amerx Health Care Corporation: In fiscal 2022, the segment introduced Advantagen, a surgical collagen powder that promotes wound closure and decreases the potential for surgical site infection, targeting hospital and surgery center settings. The segment also provides Amerx Rolled Gauze Wound Care Kits and updated Amerx Dressing product lines including Calcium Alginate, Foam and Gauze Dressings with added Retention Tape. All Amerx wound care products sold under the brand names Amerigel, Helix3, Amerx and Extremit-Ease have received approval for Medicare reimbursement assigned by the Pricing, Data Analysis and Coding contractor for Medicare and Medicaid (PDAC).
Procyon Corporation operates in the highly competitive skin and wound care treatment products market where competition is based on product efficacy, brand recognition, loyalty, quality, price and availability of shelf space in the retail market. The Company has successfully established its products' efficacy and value within specialized healthcare markets and expects to continue expanding this marketplace against well-capitalized companies offering a range of skin treatment products as well as smaller competitors with limited product offerings. Amerx's competitive advantages include its proprietary formulations protected as trade secrets, registered trademarks for key ingredients and product lines, FDA registrations and Medicare reimbursement codes for its wound care products.
Procyon Corporation serves hospitals, wound care centers, nursing homes, home health care agencies and healthcare practitioners who treat wounds. The Company's retail market consists of national and regional chain stores, independent retail pharmacies and medical supply stores. During the year ended June 30, 2024, sales from one customer accounted for more than 10% of Amerx's sales, consistent with the prior fiscal year when one customer also represented over 10% of sales.