Medical aesthetic device company Candela generates recurring revenue with new subscription-based business models
The company’s technologies enable physicians to provide advanced energy-based solutions for a broad range of medical aesthetic applications, including treatments of scars, wrinkle reduction, body shaping, tattoo removal and more.
A few years ago, Candela sold their signature body-shaping fat reduction device, the UltraShape Power® system, using a traditional hardware sales model: Physicians’ offices would purchase the machine upfront, for a fixed, one-time cost. The machine came with two hand pieces, or transducers, which were necessary for the procedures. The transducers would need to be replaced every so often, and the replacement sale created an additional revenue stream for the company. Unfortunately, other than that, Candela wasn’t able to maximize the revenue from their own machines. They knew they needed to create a recurring revenue stream.
Download the report to learn:
- How Candela increased its revenues by maximizing a software licensing solution with flexible licensing and create a recurring revenue stream.
- How switching from a homegrown system to a more centralized software monetization solution maximized the value of its products.
- How Candela improved its business insights and switched from a purely hardware-based business into one that relies on software as well as hardware.
