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SomnoMed Announces Good Revenue Growth for the Quarter as Northern Hemisphere Returns from Summer Break

26th October 2017, SomnoMed Limited (ASX:SOM) today announced total revenue growth of 18.8% (20.3% constant exchange rates) for the September quarter to $13.0 million (unaudited) compared to the same period in the prior year. This comes as a result of strong revenue growth in Europe, improving results in APAC and increasing income generated in Renew Sleep Solutions offsetting negative revenue growth in SomnoMed’s North American core MAS operation.

Renew Sleep Solutions (“RSS”), the direct-to-patient sleep centre model, opened a further three centres during the quarter - in Scottsdale AZ, Hartford CT and Roseville MN. This brings the total of all centres now opened since December 2016 to ten. All centres have been opened ahead of schedule and under anticipated cost. As the financial year has progressed enquiries received by RSS have increased significantly, resulting in increased patient volumes. Enquiries driven from our direct marketing efforts have increased more than threefold between August and October. This is expected to significantly increase the number of appointments RSS is able to schedule and the number of patients being treated with a SomnoDent® in the second quarter and the second half of the financial year.


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