Main Achievements in 2015/16
- Direct global growth in volume accelerated in 2015/16, net average sales price improved, device GM improved, underlying EBITDA increased by 141%
- SomnoMed now operating in all important product market segments in the US. Quick adaptation in North America of new products during 2015/16 allowed new mid-price products to achieve 35% share of direct sales
Great success of new SomnoDent Herbst Advance® representing 22.2% of total direct sales
SomnoDent Air® and SomnoDent Air+® accelerating representing 7.9% of total direct sales
- Acquisition of remaining 50% of SMH Biomaterial AG and of 100% of Strong Dental business in Canada completed. Strong Dental fully integrated by end of Q3 2015/16
- Acquisition of worldwide exclusive rights outside the State of Texas for S3 IP and business model; formation of new subsidiary Sleep Centres America, Inc. (“SCA”) and appointment of SCA CEO completed
- Digital scanning and printing introduced in SomnoMed’s 16 logistic and service hubs around the world
- Clinical studies underway in in several countries. First results confirm patient compliance of over 90% based on CPAP definition
- Ongoing discussions with insurers and key medical institutions around the world prove increasing support for COATTM as an alternative to CPAP
- Successful capital raising of $10.3 million to fund new SCA venture
- Share price increased by 36.6% and SomnoMed market capitalisation grew by 52% during 2015/16
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