January 12, 2016

MEDTECH REPORTS STRONG REVENUE GROWTH FOR H1 2015/16 OF 135% TO €3.9 MILLION

Montpellier, France, January 12, 2016 – 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 euros 2014/2015 2015/2016
Q1 Revenue (From July 1 to September 30) 625 1110
Q2 Revenue ( From October 1 to December 31) 1063 2850
Half-year revenue (From July to December 31) 1688 3960

 

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.”