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Ellex Medical Lasers expanding production capacity to meet rising demand

The sales performance of the company’s device was strong during the 2017 financial year.
A human eye
This second stage production expansion is expected to be completed by July 2018

Ellex Medical Lasers Limited (ASX:ELX) is increasing the production of its iTrack™ microcatheter to circa 50,000 units per annum from the current level of circa 20,000 units per annum.

The company’s illuminated microcatheters are used by physicians to perform canaloplasty for glaucoma patients.

Ellex is aiming to upgrade the production to 50,000 units per annum by expanding its manufacturing facility in Fremont, California.

In July 2017, the production capacity at Fremont was upgraded from 10,000 units per annum to 20,000 units per annum.

This second stage production expansion is expected to be completed by July 2018, by adding clean room facilities in an adjacent building and by recruiting additional technical staff.

In addition, a third stage production capacity increase to more than double the 50,000 units per annum in order to maintain supply for future demand, is currently being planned.

Ellex has witnessed material sales growth in the U.S., supported by an increase in marketing and sales spend.

Importantly, the sales performance of the Ellex’s iTrack™ technology was strong during the 2017 financial year, with sales of $8.2 million.

This represents a 41% annual growth in unit sales compared to the prior comparable period.

Sales outside of the U.S. were $3.5 million, an uplift of 49% on the prior comparable period

The expansion of the Fremont production facility will be funded from the group’s existing cash resources and earnings.

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Ellex Medical Lasers Timeline

November 30 2016

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