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MEDTECH Reports 78% Revenue Growth in FY2016 Q1

MONTPELLIER, France, Oct. 6, 2015 (GLOBE NEWSWIRE) -- MEDTECH (Euronext, FR0010892950 – ROSA), a company specialized in designing, developing and marketing innovative surgical assistance robots, today announced financial results for the first quarter of fiscal year 2016 (quarter ended September 30, 2015).

In thousands of Euros 2014/2015 2015/2016
Q1 revenue 625 1 110
(from July 1 to September 30)

An increase in activity for Q1

During the first quarter of fiscal year 2016, Medtech reported revenue of 1.1 M€, up 77.6% compared with the same period in the previous year. This growth was driven by the sale of 3 ROSA™ robots: two in the United States, the world's largest market for medical devices, and one in Germany, Europe's leading market for medical devices.

These latest sales helped Medtech pass the milestone of 50 ROSA™ robots installed worldwide and the company now has a fleet of 51 systems globally. This figure clearly illustrates a strong expansion in ROSA™ technology on an international level.

As a result of the increase in its installed base of ROSA™ robots under maintenance contract, sales of services and consumables reached 109 K€ for the first quarter of fiscal year 2016, compared with 65 K€ for the same period in the previous year, representing a 67.7% increase.

Cash available as of September 30, 2015 was 10.9 M€, in line with the company forecast.

Team strengthening

During the first quarter of fiscal year 2016, Carine Clamens joined Medtech as Director of Human Resources to support the company in its development plan and internal organization. Ms. Clamens has over 10 years of experience of human resource management in the medical and pharmaceutical industries.

Also during the quarter, Medtech continued strengthening its teams with the hire of 8 employees for its Sales, Research & Development, Quality and Regulatory Affairs, Information Systems and Customer Services departments.

Bertin Nahum, CEO and Founder of Medtech stated: "We are pleased to achieve a large increase in revenue for the first quarter of this new fiscal year. Our growth was driven by our team's commercial execution, which is successfully advancing our ROSA™ technology adoption strategy. From an organizational viewpoint, I am delighted to welcome our new Director of Human Resources and other new employees. This has strengthened our workforce and talent management in support of our ongoing expansion."

About MEDTECH

Founded in 2002 by Bertin NAHUM and based near 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.

CONTACT: CONTACT MEDTECH Christophe Sibillin Chief Financial Officer Tel : +33 (0)4 67 10 77 40 INVESTORS Corinne Puissant Tel : +33 (0)1 53 67 36 77 cpuissant@actus.fr PRESS Alexandra Prisa (EU) Tel. : +33(0)1 53 67 36 90 aprisa@actus.fr Joanna Zimmerman (US) Tel : +1 646-536-7006 jzimmerman@theruthgroup.com

Source:Medtech SA