Increase in turnover of more than 32% in the Arabian and Asian markets – mainstays of sales are laser therapy for varicose veins ELVeS Radial TM and for the laser treatment of benign prostatic hyperplasia (LIFE TM) – market launch of the world’s first dual wavelength universal diode laser LEONARDO®
Vienna, March 26, 2014 – biolitec AG (ISIN AT0000A0VCT2), Vienna, listed in the Entry Standard of Frankfurt stock exchange, has published its audited financial statements for the business year 2012/2013.
Sales revenues of biolitec AG were stable with 41.8 million Euros in the completed financial year compared to the previous year (41.9 million Euros). Major revenues of biolitec AG were generated in Europe with 17.9 million Euros (previous year: 16.7 million Euros). Foreign subsidiaries of biolitec, especially in the Arabian region and in Asia, contributed increasingly to overall results and showed high growth rates of 32.3% to 12.2 million Euros. The capital ratio of the group was 67.8%.
With innovative and pioneering medical technology products and methods, the company solidified its market position. Applications such as LIFE TM for benign prostatic hyperplasia and ELVeS Radial TM for the endoluminal laser treatment of veins were the main generator of revenue. The successful market launch of the new biolitec diode laser LEONARDO® opens a whole new world of therapeutic applications. The new laser is the most versatile medical laser in the market today. The highly compact laser features a combination of two wavelengths – typically 980nm and 1470nm – resulting in a wide range of effects on the tissue to be treated, from ablation/vaporization with simultaneous coagulation to shrinking and cutting.
Measures for cost reduction and increase in profitability were accompanied by continuous investments to secure the company’s future. Expenses for sales and marketing activities were increased to 14.6 million Euros (+21.7%). Investments in research and development (R&D) rose from 4.5 million Euros in the previous year to 4.9 million Euros. The company had significant legal expenses in the USA and has filed unfair competition claims against AngioDynamics. Adverse court rulings against the company are under appeal already or will be appealed shortly in the USA. In any case it is our legal experts” opinion that the issues would require litigation in Europe as no basis for US jurisdictions recognition exists.
In the segment medical technology, the core business of biolitec, sales of 40.4 million Euros remained stable on a high level compared to the previous year (40.5 million Euros). Sales in the pharma segment remained unchanged at 1.3 million Euros.
ELVeS Radial TM laser therapy for the treatment of varicose veins is applied by a continuously increasing number of medical specialists and generally recognized as the most advanced methods for vein treatment while the TWISTER TM fiber still is first choice for the treatment of benign prostatic hyperplasia for many, the new XCAVATOR TM fiber offers biopsy samples and an even faster BPH treatment for large prostates. HeLP®, an innovation in the field of hemorrhoids and a novel treatment for anal fistulas, as well as the new application HOLA TM (Hysteroscopic Outpatient Laser Application) for the field of gynecology (for myomas), are in a promising market launch phase.
Despite the adverse strengthening of the Euro and price as well as treatment restrictions in some markets imposed by financially stressed public healthcare systems in southern Europe as well as in the USA, based on the latest results biolitec AG expects profitable turnover especially in the Arabian, Asian and Eastern European markets in the current financial year.
biolitec AG is one of the leading medical technology companies worldwide in the field of medical laser treatments and the only provider that possesses all relevant core competencies – photosensitizers, laser devices and optical fibers – in the field of Photodynamic Therapy (PDT). Besides laser-based treatment of cancer with the drug FOSCAN®, biolitec AG primarily researches on minimally invasive and gentle laser treatments and markets them. ELVeS Radial TM (Endo Laser Vein System) is the laser system most often used worldwide for the treatment of varicose veins. In combination with the Ceralas® HPD laser, the innovative contact fiber XCAVATOR TM enables a gentle treatment of e.g. benign prostatic hyperplasia (BPH) in urology. The new LEONARDO® diode laser by biolitec® is the first universally applicable medical laser which features a combination of two wavelengths, 980nm and 1470nm, and is suitable for interdisciplinary use. Gentle laser treatments in the fields of proctology, ENT, gynecology, thoracic surgery as well as pneumology also belong to the business field of biolitec AG. biolitec AG (ISIN AT0000A0VCT2) is listed in the Entry Standard. Further information at www.biolitec.de.
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