SOPHIA ANTIPOLIS, France--(BUSINESS WIRE)--Regulatory News:
Median Technologies (Paris:ALMDT), the industry-leading Imaging Phenomics Company® today announced preliminary and unaudited financial results for the full year ended December 31, 2017.
For the year ended December 31, 2017, the Company’s revenue growth was 21%, or €7.69 million. Net new business totaled €14.69 million and contributed to an ending backlog of €23 million. New business growth for the iCRO (iSee®) segment was strengthened by preferred provider agreements with leading clinical research organizations (CROs) and large oncology pharmaceutical companies. Steady new business growth further supported the deployment of MediScan® and its predecessor, now in over 80 hospitals worldwide. In 2017, the Company also closed the first iBiopsy® deals in targeted therapeutic areas. Cash and cash equivalents are expected to be approximately €28.29 million as of December 31, 2017
“Our strategy of helping pharmaceutical companies and hospitals extract the most meaning from medical images by using technology continues to drive growth for Median Technologies,” says Fredrik Brag, Chairman, CEO and Co-founder. “This past year alone, our technology leadership continued with the recent launches of MediScan and iSee – our advanced and comprehensive software for medical image analysis. We also have teamed for success with new collaborations with Syneos Health, Medidata Solutions, Memorial Sloan Kettering Cancer Center and Xingtai People’s Hospital to help bring better treatments to patients in need,” says Brag.
“In 2018, we expect this momentum to continue and believe our innovation with new technology expansions for iBiopsy, MediScan and iSee and accelerated growth plans for our business lines: Clinical Trials and Patient Care will fuel growth,” added Brag.
The preliminary results set forth above are based on management's initial review of the Company’s operations for the year ended December 31, 2017 and are subject to revision based upon the Company’s year-end closing procedures and the completion and external audit of the Company’s year-end financial statements. Actual results may differ materially from these preliminary results as a result of the completion of year-end closing procedures, final adjustments and other developments arising between now and the time that the Company’s financial results are finalized, and such changes could be material. In addition, these preliminary results are not a comprehensive statement of the Company’s financial results for the fourth quarter or full year ended December 31, 2017, should not be viewed as a substitute for full, audited financial statements prepared in accordance with generally accepted accounting principles, and are not necessarily indicative of the Company’s results for any future period.
The Company expects to announce full 2017 financial results on April 12, 2018, after market close.
About Median Technologies: Median Technologies provides innovative imaging solutions and services to advance healthcare for everyone. We leverage the power of Imaging Phenomics to provide insights into novel therapies and treatment strategies. Our unique solutions, MediScan® for Patient Care, iSee® for image management in clinical trials and iBiopsy® for imaging phenotyping, together with our global team of experts, are advancing the development of new drugs and diagnostic tools to monitor disease and assess response to therapy. Median Technologies supports biopharmaceutical sponsors and healthcare professionals around the world to quickly and precisely bring new treatments to patients in need, with an eye on reducing overall care costs. This is how we are helping to create a healthier world.
Founded in 2002, based in Sophia-Antipolis, France, with a US subsidiary in Boston, Median has received the label “Innovative company” by the BPI and is listed on Euronext Growth market (ISIN: FR0011049824, ticker: ALMDT). The company is eligible for the PEA-PME SME equity savings plan setup and has received the label Pass French Tech Promotion 2017-2018. Median Technologies has been awarded the 2017 Tech 40 Label, has joined the EnterNext Tech 40 Index and is a winner of the Deloitte Technology Fast 500™ 2017 EMEA program. Median is a member of the Bpifrance Excellence Network. For more information: www.mediantechnologies.com