GLOBAL HIGHLIGHTS 2016/17 - A TRANSITIONAL YEAR
Renew Sleep Solutions (“RSS”) – Seven centres opened in 2016/17
• Head office organisation, reimbursement and claims capabilities fully established
• Seven centres opened across six states in the US in the first year of trading and well ahead of plan
• Centre investment and start-up cost below model assumptions
• Patient flow volumes tracking to plan
• Centre operating costs and head office expenses in line with expectations
• Breakeven reached in centres open for 5 months or longer
SomnoMed Core – Continued strong performance in Europe and US returning to growth
• Global MAS sales volumes +15.5%; group revenues +12%
- Good return to positive growth in US in fourth quarter
- Consistently strong sales performance and growth in Europe
- APAC flat due to lack of reimbursement and slow adoption of COATTM
• MAS gross margin improved from 68.6% to 70%, with group gross margin up to 58.4%
• EBITDA up 60% to $2.366m (excluding RSS)
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