1st April 2016
MedaPhor Group plc announces audited financial results
MedaPhor Group plc, the global provider of advanced ultrasound education simulators for medical professionals, announces its final audited results for the year ended 31 December 2015 and its intention to raise £3.2m in a placing with new and existing shareholders.
Whilst the company was not incorporated until 7 May 2014, it acquired MedaPhor Limited on 15 August 2014 and these final audited results have been prepared as if MedaPhor Limited had been owned and controlled by the company throughout the current and comparative accounting periods.
Highlights
- Sales increased 22% to £2.2m (2014: £1.8m);
- Gross profit margin increased by 3% to 65% (2014: 62%);
- First significant multi-system orders from UK universities;
- Launched “Cloud Case Library” which brings potential for recurring revenue streams;
- Expanded existing international reseller network into France, Spain, Romania and Southern Africa;
- Post-year end awarded milestone contract with the American Board of Obstetrics and Gynecology (ABOG); and
- Announced intention to raise £3.2m in a placing with new and existing shareholders.
Commenting on the results, Riccardo Pigliucci, Chairman of MedaPhor said: “This has been an excellent year for the Group, which has seen increased sales, a growing and trained reseller network and most importantly, resulted in us being selected by the ABOG to develop our award winning ScanTrainer simulator for the testing of examinees’ practical scanning skills in future ABOG certification exams. The launch of our fee based cloud services for ScanTrainer is also particularly exciting and with the announcement of the £3.2m placing, we look forward to growing the business globally in 2016 and beyond.”
The annual accounts have been published on the company’s website