Thursday, 2 February 2012
Wednesday, 1 February 2012
Mediwatch-Final Results Year end 31 Oct.2011
Please click link at BOP for full transcript of the Final Results
"In spite of Mediwatch's major markets in Europe and the USA suffering from economic turbulence, I am pleased to report that Mediwatch has maintained its turnover and materially increased profits and cash flows from operations during the year. The improved profitability is a result of the cost reduction programme that occurred during the year to re-align operations, including the outsourcing of major elements of our manufacturing and the reduction of fixed overheads,
Looking forward, we will continue to focus on internal efficiencies and the tight management of our cost base. During 2012 we anticipate the conclusion of a number of important research and development projects that will strengthen and update our existing product lines in urodynamics and ultrasound while reducing unit costs.
We anticipate that the improved product lines, together with the on-going growth of PSAwatch, will deliver improved performance for 2012 and beyond."
Mediwatch Final Results for year ended 31 October 2011
Final Results
RNS Number : 5486W
Mediwatch PLC
01 February 2012
Mediwatch Plc
Final Results for year ended 31 October 2011
Increased profits and cash flow during delayed economic recovery
Mediwatch Plc (AIM: MDW, 'Mediwatch' or 'the Company' or 'the Group'), the innovative urological diagnostic company, announces its final results for the year ending 31 October 2011.
Financial highlights
Operational highlights
- Profits and cash flows have increased due to the re-organisation that commenced in Q1 2011, including the outsourcing of major parts of manufacturing. The re-organisation has enabled Mediwatch to continue to invest in new markets, products and services.
- PSAwatch is at early stage of commercialisation with clinical trials in France to gain reimbursement approval, direct marketing starting in Germany, Hong Kong, Mexico and China, growing sales in the UK private sector and the potential for further co-operation and trials with two international pharmaceutical companies.
- Significant sales growth (75%) in developing markets (Far East and Russia), providing an excellent platform for further growth, balancing the detrimental effects of the Arab Spring.
- Enrolment in the US Federal Government GSA contract allowing sales into Federal Government hospitals including the Veterans Administration network and various private buying groups.
- Mobilewatch is making great strides and has increased its turnover three fold in the last 3 months.
- Continued strengthening of the product range and partnership with EBNeuro S.p.A. for the exclusive distribution of its gastro and neuro-physiology products in the UK.
Omer Karim, Mediwatch Chairman said:
Financial highlights
Sales revenues at GBP10.6m (2010: GBP10.5m)
Increased EBITDA for the year of GBP713,000 (2010: GBP583,000)
Increased profit before taxation for the year of GBP322,000 (2010: GBP233,000) Increased cash flow from operations of GBP835,000 (2010: GBP581,000)
R&D capitalised expenditure steady at GBP770,000 (2010; 742,000)
Operational highlights
- Profits and cash flows have increased due to the re-organisation that commenced in Q1 2011, including the outsourcing of major parts of manufacturing. The re-organisation has enabled Mediwatch to continue to invest in new markets, products and services.
- PSAwatch is at early stage of commercialisation with clinical trials in France to gain reimbursement approval, direct marketing starting in Germany, Hong Kong, Mexico and China, growing sales in the UK private sector and the potential for further co-operation and trials with two international pharmaceutical companies.
- Significant sales growth (75%) in developing markets (Far East and Russia), providing an excellent platform for further growth, balancing the detrimental effects of the Arab Spring.
- Enrolment in the US Federal Government GSA contract allowing sales into Federal Government hospitals including the Veterans Administration network and various private buying groups.
- Mobilewatch is making great strides and has increased its turnover three fold in the last 3 months.
- Continued strengthening of the product range and partnership with EBNeuro S.p.A. for the exclusive distribution of its gastro and neuro-physiology products in the UK.
New $2,000,000 banking facility with Fifth Third Bank to support growth in the
key US market.
Strengthened management team with new operational management in the UK and
the USA.
"In spite of Mediwatch's major markets in Europe and the USA suffering from economic turbulence, I am pleased to report that Mediwatch has maintained its turnover and materially increased profits and cash flows from operations during the year. The improved profitability is a result of the cost reduction programme that occurred during the year to re-align operations, including the outsourcing of major elements of our manufacturing and the reduction of fixed overheads,
Looking forward, we will continue to focus on internal efficiencies and the tight management of our cost base. During 2012 we anticipate the conclusion of a number of important research and development projects that will strengthen and update our existing product lines in urodynamics and ultrasound while reducing unit costs.
We anticipate that the improved product lines, together with the on-going growth of PSAwatch, will deliver improved performance for 2012 and beyond."
LATEST NEWS AND FUTURE EVENTS
Latest News/Website Updates
Mediwatch Plc-Final Results for year ended 31 October 2011
Renal And Urology News-February 2012 Edition
Renal And Urology News-January 2012 Edition
Urology Times-January 2012 EditionMediwatch Positions/Jobs
Mediwatch/Distributor Training Courses
Germany
These courses are via Mediwatch distributor Promedia but not sure if Mediwatch products are being used as part of the training.
10/02/2012 Urogynecology Basic Course (2 days)
02/11/2012 Urogynecology Basic Course (2 days)
08/01/2012 Urogynecology Advanced Course (2 days)
01/09/2012 Urogynecology Advanced Course (2 days)
Basic and Advanced Courses
USA
Three new workshops announced for 2012:
Urodynamics Workshop WPB Date 11,12 Feb 2012 Deadline 27 Jan
ARM Workshop Boston Date 13th Apr 2012 Deadline 23rd Mar
Urodynamics Workshop WPB Date 13,14 Oct 2012 Deadline 28 Sep
Workshops
Future Events Events where Mediwatch are attending/exhibiting will be marked as so or updated,hopefully before the event is finished.More Events to add later
Society for Urodynamics and Female Urology New Orleans 28th February-3rd March Mediwatch will be attending/exhibiting at this event
27th Annual Congress of the European Association of Urology (EAU)-France 24th-28th February Mediwatch will be attending/exhibiting at this event
ACDS - Colorectal Disease Symposium-Florida 14th-19th February Mediwatch will be attending/exhibiting at this event
Newsletters
Dec 2011
July 2010
January 2010
STUFF THAT MAYBE DID BUT NOW DOESN'T FIT IN WITH THE TITLE...
Mediwatch-Supply Agreement with NHS
Staffordshire University Honorary Doctors 2011-Philip Stimpson-July 2011
Directors' Shareholdings-Issued 28th July
Interim Results for the six months to 30 April 2011-This copy 28th July (RNS-26th July)
Mediwatch-Annual Report-Issued 24th March 2011
Mediwatch-Final Results for year ended 31 October 2010-Issued 27th January 2011
Mediwatch USA Inc. Awarded US General Service Administration Federal Supply Schedule Contract 14th December
OEM Partnership with ACON Laboratories 1st November
Website Update (Aug)-Mobile Watch
Interim Results
Mediwatch Newsletter-July 2010 Edition
OEM Partnership with Thought Technology Ltd Mediwatch-14th June
Monday, 30 January 2012
Mediwatch-Supply Agreement with NHS
Mediwatch plc ("Mediwatch")
Supply Agreement with NHS
30 January 2012
Mediwatch (AIM:MDW) is pleased to announce that it has been awarded a NHS supply contract for England and Northern Ireland for the supply of urodynamic disposables. The agreement will commence on 1 April 2012 and will run until 31 March 2014. The contract is estimated to be worth £250,000 p.a.
Editors Notes:
Mediwatch plc: Innovative Diagnostic Solutions
Mediwatch is a leader in its field. The Company is continually striving to develop and market faster, simpler and less invasive diagnostic products to save lives and restore quality of life for people with a variety of urological conditions.
Founded in 1995, Mediwatch (http://www.mediwatch.com) has developed a range of point-of-care medical equipment for the diagnosis of urological disorders.
The business focuses its design skills towards diagnostic products that can be used across the medical profession.
Mediwatch has established excellent foundations for continued growth building on the acquisition and integration of a division of Medtronic Inc in 2006, an international distribution network and its research and development programmes.
Saturday, 28 January 2012
Update-Graham Fulford Charitable Trust (UK)
The charity goes from strength to strength. Established in late 2004 and working closely together with Kidderminster Prostate Cancer Support Group it has carried out 20745 tests and found 486 cancers to date.
More than £315,000 has been raised which has funded nearly
16,000 PSA blood tests at a cost of £250,000,
3 Bladder Scanners at a cost of £21,000 and
32 Mediwatch Bio Scanners at a cost of £25,600 with more planned in 2012
WELCOME
Welcome to the website of the Graham Fulford Charitable Trust, a charity set up and run by Graham Fulford to reduce suffering from prostate cancer by raising awareness and promoting early diagnosis through PSA testing.
SOME FACTSThere are around 32,000 new cases of Prostate Cancer Diagnosed in the UK each year.
Of those, some 10,000 men lose their lives primarily due to the Cancer having spread outside of the Prostate Gland.
If caught early, Prostate Cancer can be treated with excellent future prognosis for the patient.
More than £315,000 has been raised which has funded nearly
16,000 PSA blood tests at a cost of £250,000,
3 Bladder Scanners at a cost of £21,000 and
32 Mediwatch Bio Scanners at a cost of £25,600 with more planned in 2012
WELCOME
Welcome to the website of the Graham Fulford Charitable Trust, a charity set up and run by Graham Fulford to reduce suffering from prostate cancer by raising awareness and promoting early diagnosis through PSA testing.
SOME FACTSThere are around 32,000 new cases of Prostate Cancer Diagnosed in the UK each year.
Of those, some 10,000 men lose their lives primarily due to the Cancer having spread outside of the Prostate Gland.
If caught early, Prostate Cancer can be treated with excellent future prognosis for the patient.
Notice of Final Results & Trading Update
27 January 2012
Mediwatch plc ("Mediwatch" or "Company" or "Group") announces that its final results for the year ended 31 October 2011 will be issued during the week commencing 30 January 2012.
The Group also issues the following trading update in advance of the announcement of the final results:
Mediwatch has maintained its turnover and increased profits and cash flows from operations during the year to 31 October 2011, in spite of Mediwatch's major markets in Europe and the USA suffering from economic turbulence. However, profit before tax for the year ended 31 October 2011 is expected to be £322,000 (unaudited) (2010: £233,000), materially lower than market expectations.
Revenues for the year ended 31 October 2011 are expected to be marginally higher at £10.6m (unaudited) (2010: £10.5m). Unfavourable global economic conditions, together with increased competition in the urodynamic market and delays in commercialising PSAwatch, hampered the Group's ability to increase turnover. In addition, gross margins have come under some pressure in the second half of the year to 31 October 2011 due to increased costs from some suppliers, which the Group was not able to pass on to customers, and increased competition in the urodynamic capital and consumer markets.
However, the re-organisation and cost reduction programme that commenced in Q1 2011 has continued in the second half, including the outsourcing of major elements of the Group's manufacturing and a reduction in fixed overheads. This has lead to further cost savings, although cost cutting in certain research and development projects has encountered delays.
Despite a delay during the year arising from the transfer of manufacturing of the test strip to a new site, PSAwatch is now at an early stage of commercialisation with clinical trials in France to gain reimbursement approval, direct marketing starting in Germany, Hong Kong, Mexico and China, growing sales in the UK private sector and the potential for further co-operation and trials with two international pharmaceutical companies.
The Directors have been encouraged by significant sales growth in developing markets including the Far East and Russia during the period, which provides a platform for future growth.
The Company continues to focus on internal efficiencies and the tight management of its cost base. During 2012 the Board anticipates the conclusion of a number of important research and development projects which are expected to strengthen and update the Group's existing product lines in urodynamics and ultrasound while reducing unit costs.
Monday, 23 January 2012
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