Industry News
Ellex Medical Lasers Reports Sales Revenue Increase
Ellex Medical Lasers Limited, an Australian company listed on the ASX and specialised in medical technologies for the diagnosis and treatment of eye disease, recently announced its full year fiscal results for the period ended 30 June 2019 (FY19).
Ms Maria Maieli, CEO of Ellex Medical Lasers commented: “I am pleased with the overall performance of Ellex in FY19, particularly in meeting our market guidance despite some difficult trading conditions encountered late in the fiscal year for our Lasers & Ultrasound segment. Our iTrack business in the key US market showed an acceleration in growth in the second half, and given the solid reimbursement available in this market, Ellex was able to increase the list price for iTrack in the fourth quarter by a low double-digit amount, which will be beneficial for our iTrack margins in FY20.”
Ms Maieli further commented “Since the Board appointed me as Interim CEO from my CFO role, I have been focused on leveraging the strength in our glaucoma franchise to drive continued growth in iTrack and SLT by integrating some elements of our sales process to generate a higher proportion of leads and thereafter, conversion. As the Company exits a period of significant investment in our glaucoma franchise particularly, a focus on costs and working capital improvements remain an objective for the current financial year. We expect group EBITDA to show an improvement in FY20.”
Ellex designs, develops, manufactures and sells innovative product that help eye surgeons around the world to effectively and efficiently treat eye disease. Headquartered in Adelaide, Australia, Ellex has ophthalmic lasers and devices that treat glaucoma, retinal disease primarily caused by diabetes, secondary cataract and vitreous opacities, as well as age-related macular degeneration. Manufacturing is carried out in Adelaide, Australia and Fremont, California. Sales and service directly to eye surgeons is conducted via subsidiary offices in Minneapolis, Lyon, Berlin and Tokyo. A network of more than 50 distribution partners around the
world services other markets.
