MEDTECH : MEDTECH REPORTS REVENUE GROWTH OF 81% TO EUR 3.1 MILLION FOR FISCAL THIRD QUARTER 2015/16
Montpellier, France, April 7, 2016 – MEDTECH (Euronext, FR0010892950 – ROSA), a company specialized in designing, developing and marketing surgical robots, has today announced its revenue for the fiscal third quarter of 2015/16 (3 months ended March 31, 2016).
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(July 1 to September 30 )
(January 1 to March 31)
(July 1 to March 31)
Steady growth momentum throughout Q3
During the 3rd quarter of the 2015/16 fiscal period, Medtech continued to expand with steady progress in revenue of €3.1 million, up 81% compared with the same period in the prior year. With the sale of 10 new ROSA™ systems during the quarter (7 in the United States, 2 in China and 1 in France), Medtech has pursued its strategy to increase market share. Furthermore, during this quarter Medtech recorded the first sale of its ROSATM Spine robot in the United States, following FDA clearance in January 2016.
At the end of the first 9 months of the 2015/16 fiscal period, Medtech reported revenue of €7.1 million, up 107% compared to the same period in the prior year. Third quarter revenue from the sale of service contracts was €310,000 compared with €228,000 for the same period in the prior year.
At the end of March 2016, the fleet of ROSA™ systems delivered worldwide was 69, including 21 delivered over the first 9 months of the 2015/16 fiscal period, demonstrating the Company's steady execution of its commercial expansion strategy.
Cash available as of March 31, 2016 was €20.2 million, compared with €23.8 million as of December 31, 2015 and €12.6 million as of March 31, 2015.
Bertin Nahum, CEO and Founder of Medtech said, “Our fiscal third quarter performance clearly illustrates the growth momentum to which we are committed and confirms our strategy to conquer new markets, especially on an international scale.”
Founded in 2002 by Bertin NAHUM and based in Montpellier, MEDTECH is a European specialist in the design, development and marketing of innovative robotic appliances to assist surgeons during their medico-surgical interventions, thus contributing to the implementation of safer, more efficient, less-invasive treatment.
In 2007, MEDTECH developed ROSA™, an innovative technological device devoted to brain surgery procedures. ROSA™ has been approved in Europe, the United States and Canada.
In 2013 MEDTECH received the “European Company of the Year Award” in the “robotic neurosurgery” category from Frost & Sullivan.
In July 2014, MEDTECH obtained the CE marking for its new product ROSA™ Spine, a robotic- assistive device for minimally invasive surgery of the spine.
In October 2014, MEDTECH won the “Révélation” prize in the Mediterranean Deloitte Technology Fast 50 Awards.
In 2015 MEDTECH received the “2016 Company of the Year Award” in the “robotic neurosurgery” category from Frost & Sullivan.
In November 2015, MEDTECH was honored by Deloitte In Extenso for its excellent performance in the Technology Fast 50 Mediterranean Awards, in the “listed company” category.
In January 2016, MEDTECH obtained the FDA clearance for its new product, ROSA™ Spine, a robotic-assistive device for minimally invasive surgery of the spine.
Chief Financial Officer
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Alexandra Prisa (EU)
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Joanna Zimmerman (US)
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