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Uscom's CEO Rob Phillips talks revenue growth at Proactive's Luncheons

Published: 07:10 13 Aug 2015 AEST

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Uscom (ASX:UCM) is a revenue generating cardiovascular medical technology company that is carrying out due diligence to acquire Thor Laboratories KFT.

Budapest-based Thor is a cash flow positive medical device manufacturer with current annual revenues of approximately A$500,000 and specialises in digital technology for measurement of respiratory function.

Uscom recently raised $1.55 million through a placement of shares priced at $0.15 and is offering shareholders the opportunity to apply for up to $15,000 worth of shares under a share purchase plan that is underwritten to $400,000 by Patersons Securities.

Chief executive officer and Associate Professor, Rob Phillips, will present at Proactive's Sydney, Melbourne Investor Luncheons in September.


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Proactive's Sydney Investor Luncheon, Tuesday 1st September
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Proactive's Melbourne Investor Luncheon, Wednesday 2nd September.
   

Thor Acquisition

The acquisition will grow Uscom’s revenue and providing international manufacturing, distribution, additional skilled personnel, and a new suite of products ready for sale with CE and TGA regulatory approvals and some regional reimbursement.

Consideration is a total of $1 million, comprising $700,000 in upfront cash, and $200,000 in cash earn-outs and $100,000 in equity earn-outs over a three year period from the date of acquisition.

Besides sales revenue of $500,000, Thor has costs of $450,000, profit of $32,000 and gross margins of 70%.

In July, Thor received U.S. Food and Drug Administration approval to market its SpiroThor digital ultrasonic spirometers.

Following the acquisition, Uscom has multiple options for revenue growth including increased distribution and nine products with consumables that could attract higher volume distributors.

 

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.

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