Proactiveinvestors RSS feed en Wed, 23 Aug 2017 20:12:47 +1000 Genera CMS (Proactiveinvestors) (Proactiveinvestors) <![CDATA[News - Medical Australia’s breast pumps gain critical endorsement ]]> Medical Australia (ASX:MLA) has secured a three-year partnership with the Australian Breastfeeding Association (ABA) in which ABA community groups will now purchase Ardo breast pumps.

Ardo Carum and Calypso breast pumps are manufactured by Medical Australia’s Clements Medical Equipment division and are distributed in Australia and New Zealand as ‘Ardo by Clements’.

ABA is a voluntary organisation founded by six mothers in 1964.

The association has spread to all Australian states and territories to become one of the country’s largest women’s not-for-profit organisations and Australia’s leading authority on breastfeeding.

Under the agreement, Ardo’s Carum (hospital grade) and Calypso (portable pump), which are World Health Organisation (WHO) code compliant, will be the only breast pumps endorsed by the ABA.

The ABA will also actively promote the products through its broad communication network.

Moreover, close to 200 ABA community groups throughout Australia will transition to using Ardo breast pumps.

This is a significant achievement for Medical Australia and follows a rigorous testing process where the ABA established an expert working group to implement the evaluation process and survey.

The Ardo pumps were tested using standardised criteria by mothers with babies of various ages and are expected to greatly assist women with their breastfeeding and expressing requirements.

The global breast pumps market is estimated to grow at a compounded annual growth rate of 8.8% from 2014 to 2020 and reach a value of US$2.6 billion by 2020.

Thu, 23 Feb 2017 08:30:00 +1100
<![CDATA[News - Medical Australia Ltd posts 25% lift in top line revenue ]]> Medical Australia (ASX:MLA) has lifted top line revenue by 25% to $14.8 million on the strength of a 12 month contribution from its animal health business.

Although the human healthcare business is the engine for MLA with $11.5 million in revenues for the 2014/15 financial year and a 15% improvement over 2014.

Organic growth opportunities for this appear sound for the human health business in the private sector as well as health department contracts and also from overseas expansion.

Overall, a net loss after tax was recorded of $216,879 compared to a profit of $105,241 for the previous period.

The company will either divest or dilute its interests in the animal healthcare business given significant investment in the business required.

The company said that development of a number of new treatments for dogs as well undertaking further validation studies at several universities should see a realisation of the carrying value of the animal health investment during the first half of the 2016 financial year.

The weakening Australian dollar against the U.S. dollar did not assist the results as over 80% of its human healthcare inventory is under USD denominated contracts. Mitigation of the effects on margins is being mapped out.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Mon, 31 Aug 2015 15:35:00 +1000
<![CDATA[News - Medical Australia to focus on human healthcare ]]> Medical Australia (ASX:MLA) plans to focus on growing its human healthcare business and divesting its animal healthcare business.

In December 2013, the company finalised the acquisition of animal healthcare and stem cell technology provider MediVet Pty Ltd.

Since then, it has added directors and management and raised additional capital.

However, following a review of various business operations, the company has concluded that it has neither the financial nor human resources to fully pursue the potential of both the Human Healthcare business and Animal Healthcare business opportunities that have been presented.

Significant growth opportunities have been identified in both business sectors which will require additional capital resources to fulfil.

In particular the opportunities related to the Animal Healthcare business are predominantly in the U.S. and there are few if any synergistic benefits of common ownership of the business sectors.

The company has engaged Main Street Capital in conjunction with Corporate Capital Group to assist the process of looking for investors to take the MediVet business forward.

It has a 60.5% interest in MediVet with the remaining 39.5% held by interests related to the U.S. management.

The Human Healthcare business has been returned to profitability and management have identified a number of additional growth options.

These options will require funding for both investment acquisitions and working capital expansion.

It is expected that investment which has been directed to MediVet over the last eighteen months will now be freed up and enable the Human Healthcare opportunities to be fully exploited.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Wed, 24 Jun 2015 11:30:00 +1000
<![CDATA[News - Medical Australia secures distribution licence for animal nanofiber technology ]]> Medical Australia (ASX:MLA) has secured an exclusive licensing agreement from Nanofiber Veterinary for distribution of NanoWhiskersV™ and NanoCareV™ product lines in Australia, Japan, and the United States.

The innovative product lines provide a valuable adjunct to MediVet’s already established adipose-derived stem cell technology to further enhance the treatment of a variety of degenerative conditions and diseases in animals including osteoarthritis.

The Nanofiber technology provides a supportive framework and an optimal healing environment for stem cells to proliferate, differentiate and regenerate damaged tissues.

NanoWhiskersV™ use injectable FDA-approved polymer fibres to increase cellular localisation in the area of ailment to regenerate joints.

It assists stem cell binding to the scaffolding matrix, and guides cellular growth causing cells to replicate and differentiate to form functional tissues.

NanoCareV™ provides expedited healing of all types of wounds in animals. It is a durable, bio-stable mesh with a temporary skin substitute that is placed directly over a wound followed by a series of Platelet Rich Plasma.

The technology from Nanofiber Solutions vastly increases the scope of application of MediVet’s Stem Cell Technology and for the treatment of wounds, joint injury and joint degeneration in both small animal and equine patients on a global scale providing a platform for growth.

MLA will now collaborate with Nanofiber Veterinary to continue ongoing research projects to achieve increased efficacy, continued learning and promote hands on access to veterinary regenerative medicine.


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Thu, 03 Jul 2014 12:30:00 +1000
<![CDATA[News - Medical Australia bags $4 million to expand animal stem cell company ]]> Medical Australia (ASX: MLA) will trade firmer today after completing a $4 million placement at $0.20 per share via issue of 20,000,000 new shares issued to two strategic investors with a successful history in the healthcare sector.

Notably, the $0.20 price tag is at a premium to the prevailing share price, signifying additional confidence in the company's growth prospects.

Windfall Trust and Walker Group Holdings have subscribed for 10,000,000 shares each.

The placement is the final step in completing the acquisition and integration of animal stem cell therapy and regenerative medicine company, MediVet.

This is a company-transforming transaction, and these new funds will allow Medical to take full advantage of the growth opportunities that the MediVet business and traditional human healthcare markets represent.

In particular there is scope for significant growth in the United States, where there are over 27,000 veterinary clinics.

MediVet’s range of regenerative medicine technologies is rapidly gaining acceptance in the equine and horse racing industries, representing another solid growth platform.

Medical has also finalised the issue of 36,666,667 shares to the Vendors of MediVet, and now holds 60.5% of MediVet America, and 100% of MediVet Pty Ltd which encompasses Canada, USA, Great Britain, Continental Europe, the Middle East, Australia and the Asia Pacific Region.

The integration of Medical and MediVet into one company is well advanced with the businesses now operating at one
location in Lidcombe, New South Wales.

Medical Australia is capitalised at around $20 million post acquisition, based on the current share price.


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Tue, 10 Dec 2013 10:40:00 +1100
<![CDATA[News - Medical Australia to acquire animal stem cell technology company MediVet ]]> Medical Australia (ASX: MLA) has now signed an agreement to acquire Medivet Pty Ltd, which is a private Australian company with proprietary ownership technology for regenerative stem cell technology for domestic animals and the equine industry.

Consideration for the deal will by around 36.6 million shares at $0.30 for total consideration of $11 million.

MLA announced in June this year that it intended to acquire MediVet for $10 million in a 50/50 cash and scrip transaction.

The latest agreement has been executed in order to provide a quicker close so immediate business opportunities can be pursued. The acquisition is subject to shareholder approval.

The acquisition by MLA is company transforming, and it creates a unique and profitable human and animal healthcare company with a global footprint.

MediVet back story

Founded in 2008, MediVet is a leader in the animal healthcare market and has developed a range of animal healthcare products which are highly regarded in a number of global markets.

The company is best known for developing the world-first in house regenerative animal stem-cell technology which has been commercialised for the veterinary and equine markets throughout the world.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Tue, 24 Sep 2013 10:00:00 +1000
<![CDATA[News - Medical Australia to acquire animal healthcare company MediVet ]]> Medical Australia (ASX:MLA) will acquire animal healthcare company MediVet Pty Ltd for an upfront payment of $5 million cash and a further $5 million worth of MLA shares.

A capital-raising will occur to support the transaction.

MediVet Pty Ltd has a controlling interest in MediVet USA LLC, with 420 veterinarians in the USA using the stem-cell therapy and 12,000 procedures already performed globally.

MediVet derives revenue from multiple sources, including the setup of stem-cell facilities, cryopreservation of stem-cells for use in later life, ongoing supply of stem-cell equipment and a range of regenerative medicine products for the animal health market.

Revenues for MediVet were not detailed.

MediVet has developed a range of animal healthcare products which are highly regarded in a number of global markets.

MediVet is best known for developing the world-first in house regenerative animal stem-cell technology which has been commercialised for the veterinary and equine markets throughout the world.

Once the deal is completed, MLA would be the only profitable listed stem cell technology company in the world.

MLA earned revenues of $2,373,000 for the three months to March 31, 2013.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Thu, 06 Jun 2013 10:40:00 +1000
<![CDATA[News - Medical Australia Ltd gains billionaire Lang Walker as shareholder ]]> Medical Australia (ASX: MLA) has gained billionaire Lang Hancock's Auckland Trust Company as a 2.4% shareholder via a shortfall of 10,871,698 options taken up by the trust.

Recently, Medical Australia has undergone a transformation under managing director Mark Donnison, who was instrumental in lifting Alphafarm turnover from $10 million to $600 million.

The company's MediVet division is expected to provide significant revenue potential in the UK as a result of its patented stem cell process to roll out to veterinary clinics and equine centres throughout the UK.

In total just under 65 million $0.02 options were converted into ordinary shares providing $1.3 million in cash to the company boosting the cash position to over $1.5 million, which importantly doesn't include a further $850,000 of pending customer receipts.

Donnison said “We are pleased that Auckland Trust Company Limited has emerged as a 2.4% shareholder in MLA and delighted to have Lang Walker on MLA’s register.”

The solid cash position provides Medical Australia with flexibility to fast track organic growth initiatives to enable the company to maintain ongoing revenue and profit growth during financial year 2012.

In other important news for Medical Australia, earlier in the month the company reached a significant milestone with the completion of a major clinical trial using Analytica's (ASX: ALT) AutoStart Burette infusion technology, and the signing of a supply agreement with a major Sydney hospital, Concord Hospital.

Medical Australia is now forecasting sales revenue upwards of $500,000 per annum for the product based on the Concord Repatriation General Hospital's usage figures, and revenue will flow immediately from the agreement.

The AutoStart Burette infusion set automatically restarts the delivery of intravenous fluid once the burette has dispensed its predetermined amount of liquid or drug, and is now in the stage of a full roll out at the Concord Hospital.


Mon, 25 Jul 2011 15:27:00 +1000
<![CDATA[News - Medical Australia undervalued according to research house ]]> Medical Australia (ASX: MLA) has received a $0.059 price target, 84% higher than the last traded price of $0.032 from a research house.

The following is an extract from the report.


Healthcare Spend, OEM Deals to Drive Growth

Medical Australia is a Sydney, Australia-based company involved in the development, manufacturing and distribution of medical devices and consumables used in the human and animal healthcare markets of Australia, New Zealand and Asia.

The company is focused on three core areas, namely medication delivery, reuse prevention and surgical devices.

The Australian medical device industry is expected to benefit from increased healthcare spending by the Australian government which is expected to reach A$96.0 billion in 2017-18 from A$71.2 billion in 2007-08 on the back of an aging population and increased incidence rates of lifestyle diseases.

Apart from this, the most promising immediate revenue trigger for MLA is its multi-million dollar deal with MediVet, a Sydney-based animal health company, which is estimated to generate annualized revenues of ~A$3 million starting from 2HFY11 by tapping into the lucrative US pet healthcare market which is expected to reach US$12.2 billion in 2011.

Moreover, the company has also signed Original Equipment Manufacturer (OEM) deals with healthcare companies Terumo Medical of Japan and Germany’s Fresenius Kabi which will strengthen MLA’s revenue streams.

MLA’s licensing and distribution deal with Analytica Limited will help the company further expand its product portfolio.

Further, MLA is also expanding operations in the lucrative Middle East region.

It has already appointed distributors in Kuwait, Iran, Qatar, Bahrain, Oman, Lebanon and Jordan and has started shipping its products.

The company also provided training to these distributors recently in Dubai and has plans to enter more countries in the region as well.

MLA undertook significant restructuring initiatives during FY10 that included rationalizing its supplier base and consolidated manufacturing facilities in China.

These initiatives enabled the company to record its maiden net profit of A$134,753 during 1HFY11.

With significant deal traction and restructuring efforts, we believe MLA is poised to effectively capitalize on the upcoming growth wave in the Australian healthcare industry.

We have valued MLA on a Discounted Cash Flow (DCF) basis and initiate coverage with a target price of A$0.059/share, an upside of 84.6% from the last traded price of A$0.032/share.


Tue, 10 May 2011 11:49:00 +1000
<![CDATA[News - Medical Australia wins OEM agreement with Pharmatel Fresenius Kabi AG ]]> Sydney-based medical device manufacturer Medical Australia (ASX: MLA) snared a third original equipment manufacturer (OEM) agreement, the latest with global healthcare company Pharmatel Fresenius Kabi AG of Germany, with immediate revenue generation.

PFK, which employs 21,000 people worldwide and employs over 220 people in Australia and New Zealand, was awarded a major contract with the New South Wales Department of Health to supply all IV pumps for the state’s public hospitals.

MLA’s TUTA product is being sourced by PFK for this contract, with first revenue to be booked by MLA in the first quarter of calendar 2011.

This represents the third OEM agreement won by MLA since July 2010. 

MLA reported a record 2011 first quarter performance with sales of $2.4 million, ahead of budget.  This dis not include a contribution from Medivet which is expected in the second quarter, boosting revenues futher.

Reflecting the quality of the recent earnings growth, MLA recorded an Earning Before Interest Tax, Depreciation and Amortisation (EBITDA) to sales margin of almost 10 per cent for the first quarter. This is an indicator of the progress MLA has made in reducing its cost base and strengthening its global supply chain.

MLA is pursuing a number of additional OEM agreement which would accelerate organic growth in the current financial year. 

MLA chief executive officer Mark Donnison said “This OEM partnership represents a major growth platform for MLA. We will start to book revenue immediately through the supply agreement for the New South Wales Department of Health contract, and can comfortably accommodate PFK’s demands without any further capital expenditure."

“PFK was attracted to the strength and dependability of MLA’s global supply chain, as well as the quality of the TUTA product that we are initially supplying through this agreement. This gives us a major organic growth platform for the TUTA brand that we had not previously forecast."

MLA will shortly update shareholders on the company’s first half revenue performance.


Tue, 11 Jan 2011 10:07:00 +1100
<![CDATA[News - Medical Australia signs landmark supply agreement with Japan’s Terumo Medical Corporation ]]> In a major agreement, Medical Australia (ASX: MLA) has formalised a three-year agreement to act as the original equipment manufacturer (OEM) for a broad range of Terumo Medical Corporation of Japan products, one of the world’s leading medical products companies, thereby building a stable company revenue stream over the medium term.

Medical Australia had informally acted as an OEM supplier to Terumo for a number of years, with the agreement expanding Medical Australia's role as an OEM partner.

The agreement also places Medical Australia further on the radar of other multinational medical product companies, with the Terumo agreement the second OEM partnership agreement secured this financial year, and follows the signing of a similar agreement with veterinary products company Medivet in July 2010.

MLA has rung in significant changes with new CEO Mark Donnison aiming to build a profitable $50 million business by 2012 and establishing MLA as a leading medical consumables company in global markets, via a growing international footprint, new supply agreements and organic growth.

MLA's underlying businesses are now profitable.

Mark Donnison, said of the deal with Terumo, "While we have partnered with Terumo informally for a number of years, this formal agreement expands our partnership and will no doubt lead to increased product volume supply as the agreement progresses."

Medical Australia has recently invested in its supply chain, which still remains a major company focus, to cost effectively supply and distribute product with to meet the demand of large global medical products companies.

Donnison added, “The dependability of MLA’s supply chain was the fundamental reason Terumo signed this three year agreement and it gives us every confidence that we can secure a number of other OEM partnerships in the near future."

These agreements place the company in good stead to meet the Medical Australia objective of building a profitable $50m business by 2012, with positive signs emerging including the past four sales months being the strongest over the last twelve, with gross profit up 67% to $4.9 million in FY10 over the previous corresponding period.

There remains a vast opportunity for Medical Australia in this sector, as the medical devices market in Australia is valued at A$4.8 billion, although this represents less than one per cent of the global market.


Article highlight:

With greater revenue certainty over the medium term through the OEM agreement with Terumo Medical, investment in MLA's supply chain is paying off, enabling MLA to supply and distribute product to global medical product companies.


Tue, 23 Nov 2010 13:50:00 +1100
<![CDATA[News - Medical Australia has record first quarter sales of A$2.4m, sees margins growth ]]> Medical products manufacturer and distributor Medical Australia (ASX: MLA) has reported record sales of $2.4 million for the first quarter of financial year 2011, a $663,000 improvement on the previous quarter and ahead of budget.

September revenue alone was $852,000 and EBITDA was $221,000 excluding one-off non-operating, non-recurring expenses of $51,000, with the company achieving profitability for every month in the quarter.

Revenue and EBITDA margin growth is expected to continue on the benefits gained from the company's global supply chain investment.

EBITDA performance was against a forecast of $44,000 for the first quarter. The EBITDA/sales margin of almost 10 per cent reflects the progress MLA has made in reducing its cost base and strengthening its global supply chain.

The result only includes a small contribution from the company’s supply and manufacturing agreement with Medivet.

Revenue from the Medivet partnership is expected to ramp up significantly from the second quarter as sales from distribution agreements recently reached by Medivet in seven new countries start to come on stream.

Mark Donnison, chief executive officer, said MLA’s improving financial and operational performance is encouraging and the trend in earnings and margin growth is expected to continue.

“This is a pleasing start to the year and while the financial performance is gratifying, we are only at the very early stages of our growth.

“MLA is now starting to see the first stage benefits of the investment in our global supply chain – the end result being that we can now supply our customers, both new and existing, with product in a timely and cost effective manner."

The benefits gained from the global supply chain investment are expected to result in further margin improvement and sales growth as the company continues to penetrate new international markets and commercialise new products that are in the pipeline.
"This has been a critical development for the company and a key platform for continued organic growth,” added Donnison.

Medical Australia has a market capitalistion of A$5.93 million. MLA shares rose 14% to 1.6 cents in trading this morning.

Tue, 02 Nov 2010 12:02:00 +1100
<![CDATA[News - Medical Australia signs off on "company maker" acquisition ]]> Medical products manufacturer and distributor Medical Australia (ASX: MLA) has today completed due diligence and signed the contract to acquire the leading Australian manufacturer and distributor of patient warming products, Care Essentials Pty Ltd.

The transformative deal was announced on 8 April 2010.

Consideration for the acquisition is $3.9 million, with $2.8 million to be paid upon settlement, and a further $1.1 million paid in 12 months based on certain performance hurdles being met.

MLA will seek shareholder approval at an Extraordinary General Meeting on 15 July 2010 for a capital raising to fund the acquisition of Care Essentials.

With the acquisition forecast to add $4 million in revenue and EBIT of $1 million and post-transaction take MLA’s annualised revenue to near $14 million after completion, it is likely shareholders will warm to this company transforming transaction - due to the following factors about Care Essentials:

- Is profitable
- Acquisition is Earnings Per Share accretive
- Fits with MLA core clinical areas and competency
- Customer base of Care Essentials is consistent with existing business and marketing channels
- Has immediate synergies
- Provides MLA with business upside through leveraging MLA's global distribution network

Significantly, with the acquisition of Care Essentials, MLA will become immediately profitable (currently the MLA business is at break-even).  Hence the "company maker" potential of the Care Essentials deal.

MLA has a renounceable rights issue on the table to fund the acquisition of 1 new ordinary share for every 1 held on 20 July together with 1 attaching 12 month option for every 2 shares held at an issue price of $0.015 per new share.  The issue if fully subscribed would raise $4.17m before offer costs.

Operationally, MLA managing director Mark Donnison has moved quickly to implement a sales strategy to exploit current distribution channels and customers with existing an future products, while expanding into new markets. 

Donnison has mapped-out an accelerated growth path for MLA via industry roll up and consolidation, and has a pipeline of potential M&A deals that would be immediately earnings per share accretive, from extraction of sales and marketing synergies. Ultimately, MLA's growth is linked to expansion in health and aged-care sectors, a growth market with an aging population.

Not known as widely, MLA has either direct sales channels or sales and distribution partners in 21 countries, through which it can market its products and new products from acquisitions.

MLA is a medical company engaged in the manufacture, distribution and sale of a broad range of medical devices used by healthcare facilities and critical care services in global markets. The Company is a leader in Intravenous (IV) Medication Delivery Systems, Surgical Irrigation, Suction and Oxygen Therapy, Safety Sharps Collection and Reuse Prevention and specialised Diagnostic and Laboratory Equipment.

The acquisition of Care Essentials is a game-changer for MLA. With a slew of future earnings accretive deals in the pipeline, the capital raising will provide the platform for valuation uplift for investors.

Thu, 08 Jul 2010 07:08:00 +1000
<![CDATA[News - BMDI Tuta to change name to Medical Australia Limited ]]> The Annual General Meeting of BMDI TUTA Limited resolved to change the name of the Company to Medical Australia Limited with immediate effect.

The ASX Code is: MLA

Fri, 23 Oct 2009 13:14:00 +1100
<![CDATA[News - BMDI Tuta inks key medical products distribution deal with UK-based Unisurge ]]> Australian-based medical products manufacturer and distributor BMDI TUTA (ASX: BMI) has inked an agreement to enter the key United Kingdom market in a distribution and manufacturing deal with Unisurge International Ltd.

BMDI Tuta manufactures, distributes and sells a range of medical devices used by healthcare facilities and critical care services in global markets.

The company offers a range of safety-engineered medical devices designed to reduce the incidence of needle stick injuries, exposure to blood-borne pathogens, and provide a higher level of healthcare worker and patient safety.

Less well known, the company is a leader in Intravenous (IV) Medication Delivery Systems, Surgical Irrigation, Suction and Oxygen Therapy, Safety Sharps Collection and Reuse Prevention and specialised Diagnostic and Laboratory Equipment.

As well, BMDI Tutal is an "authentic safety medical company" and can boast a 60-year old brand, diversified portfolio and established customer base.

Unisurge has been established in the UK since 1988.  From its Cambridge headquarters, Unisurge manufacturers and supplies practitioner-specified procedure packs, dressing packs, medical disposables and theatre products to the £164 billion annual UK health care market.

Over a period of five years, BMDI Tuta will supply its products for inclusion in Unisurge procedure packs; supply its products for direct distribution and sale to Unisurge's UK public and private hospital distribution base.

Other parts of the agreement provide for BMDI Tuta to source products and contract manufacture other products and components for Unisurge.  As well as, Unisurge providing warehouse and logistics services for BMDI Tuta in the UK.

Gary Lewis, managing director of BMDI Tutal said the agreement with Unisurge is further evidence that BMDI TUTA continues to benefit from the significant investment it has made in its global supply chain.

"Unisurge has recognised that BMDI TUTA has a world-class supply chain and we can deliver quality products to market quickly and efficiently," he said.

BMDI Tuta will gain a new distribution channel in the UK, as Unisurge has a dedicated fleet of delivery vehicles, enuring that pre-sterile packs arrive at their destination on time and in optimum condition.

Transformation & Turnaround

Recently, BMDI Tuta has undergone something of a transformation and a turnaround, with tangible results.

Manufacturing and distribution were transformed, four major supply contracts with state government health departments throughout Australia and important contracts were renewed and the company acquired a leading medical business.

The 100-year old Clements Medical Equipment business was acquired, adding $2 million in revenue and $300,000 in Earnings Before Interest, Taxed, Depreciation and Amortisation (EBITDA).

All manufacturing operations were relocated from Thailand and Australia into a new state-of-the-art facility in China, now with a base to supply to the global healthcare market at low competitive cost.

First quarter sales were $2.1 million for the three months to 30 September 2009. 

As importantly, in September alone, the company achieved sales of over $800,000, 20% above August sales, indicating month-on-month sales momentum is growing.

For the full year to June 30, 2009, BMDI Tuta inked revenues of $7.61 million (+63% gain).  Gross profit was up 63% to $3.0 million (+67% growth).

The company trimmed to a net loss of $193,000, a strong turnaround from the $1.5 million loss reported in FY2008.

With BMDI Tuta's portfolio of leading brands, investments in supply chain, lower cost base and product distribution expansion, the company should be able to generate significant organic revenue and profit growth in FY2010. 

BMDI Tuta is a significantly different company now, than it was 18 months ago. 2010/11 offers promise of a medical device company, trading at a current low market valuation of $9 million, that factors in no uptick in earnings.

Tue, 20 Oct 2009 12:03:00 +1100