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Medtech Reports Strong Revenue Growth for H1 2015/16 of 135% to €3.9 Million

MONTPELLIER, France, Jan. 12, 2016 (GLOBE NEWSWIRE) -- MEDTECH (Euronext, FR0010892950 – ROSA), a company specialized in designing, developing and marketing innovative surgical assistance robots, is pleased to announce revenue for its fiscal second quarter of 2016 and fiscal first half of 2016 (3 and 6 month periods ending December 31, 2015).

In thousands of euros2014/20152015/2016
Q1 Revenue
(From July 1 to September 30)
6251 110
Q2 Revenue
(From October 1 to December 31)
1 0632 850
Half-year revenue
(From July 1 to December 31)
1 6883 960

Acceleration in growth in Q2

During the second quarter of the 2015/16 fiscal period, Medtech maintained steady growth with a strong increase in revenue, up 168% compared to the previous year due to the sale of 8 new ROSA™ systems (6 in the United States of America, 1 in Australia, and 1 in Europe).

At the end of the first half of its 2015/16 fiscal period, Medtech recorded a revenue of 3.9 M€, up 135% compared with the 2014/15 fiscal period.

Sales of service contracts reached 191 K€ during the first half of the current fiscal period, compared with 151 K€ as of December 31, 2014.

At the end of December 2015, the fleet of ROSA™ systems delivered worldwide was up to 59 units (including 11 delivered during H1 of 2015/16), demonstrating the company’s strong capacity to respect its commercial development strategy.

Cash available in line with company expectations

As of December 31, 2015, Medtech has net cash available of 23.8 M€ (compared to 12 M€ at the end of June 2015), integrating the investment made by Ally Bridge Group, world investment group specialized in the medical sector, at the end of the year.

Post-closure event

At the start of 2016 Medtech announced that it has obtained regulatory Food and Drug Administration (FDA) clearance to market the ROSA™ Spine on the American market.

“The continued development of our sales, especially on an international level, reflects Medtech’s capacity to continue to pursue success in the surgical robotics markets,” Bertin Nahum, CEO and Founder of Medtech, commented. “We are demonstrating ROSA™’s appeal to our clients, and we look forward to furthering this momentum in the U.S. with the FDA clearance of ROSA™ Spine. Our recent corporate developments have contributed to strengthening our company’s position as a major player in surgical robotics, especially on the world’s premier market for spine surgery.”

About MEDTECH
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.

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