SOURCE: AtCor Medical Holdings Ltd.

August 04, 2008 10:10 ET

AtCor Medical Reports Record 2008 Revenues

Second Half Sales Soar 70%

ITASCA, IL--(Marketwire - August 4, 2008) - AtCor Medical (ASX: ACG), the developer and marketer of the SphygmoCor® system which measures central blood pressures and arterial stiffness non-invasively, today announced record 2008 sales of $6.5m, an increase of 47% on a constant currency basis over the prior period, and in line with expectations. Second half sales in 2008 soared 70% on a constant currency basis over second half sales in 2007.

Sales in North America increased by 46% for the full year and 138% for the second half, with solid growth in all major market segments. Clinical sales in the US were up 55% for the year. Sales in Europe rose by 59%, with increases from established channels and new markets in Eastern Europe. Rest of the world sales increased 8% over FY2007, when there was a large order to the retail testing segment which did not repeat in FY2008.

Duncan Ross, CEO of AtCor Medical, said, "We were very pleased with our performance and our productivity in 2008. We achieved these results without the addition of any new headcount. There has been an encouraging start to FY2009, with two contracts totaling US$1.6 million signed with a leading international pharmaceutical company last week. We remain focused on attaining break-even and long-term sustainability for the business through increasing sales, controlling expenses and aggressively managing our balance sheet."

About AtCor Medical

AtCor Medical develops and markets products for the early detection of cardiovascular risk and management of cardiovascular disease. Its technology allows researchers and clinicians to assess central blood pressure non-invasively. The company's SphygmoCor® system visibly identifies the effects of reflected blood pressure in the central aortic pressure wave, effects which cannot be detected with standard cuff blood pressure monitoring. More than 1,400 SphygmoCor® systems are currently in use worldwide at major medical institutions research institutions and in various clinical trials with leading pharmaceutical companies, and the company's technology have been featured in over 200 peer-reviewed studies published in leading medical journals. AtCor has operations in Australia, the United States, and Europe. For further information, please visit our web site at www.atcormedical.com

Contact Information

  • For further information, please contact:

    Duncan Ross
    AtCor Medical CEO
    +1 (630) 228 8873

    Peter Manley
    AtCor Medical CFO
    +61 (2) 9874 8761

    Media enquiries to:

    Ashley Rambukwella
    Financial & Corporate Relations
    Ph: +61 (2) 8264 1004
    m. 0407 231 282
    a.rambukwella@fcr.com.au