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EDAP TMS SA reports developments in robotic energy-based therapies and minimally invasive ultrasound medical devices. The company develops, manufactures, promotes, and distributes systems that combine imaging, robotics, and focused ultrasound, with news frequently centered on the Focal One robotic HIFU platform for prostate focal therapy.
Recurring EDAP updates include HIFU revenue, Focal One system placements, U.S. procedure volumes, clinical evidence for prostate cancer applications, FDA clearances, and product enhancements. News also covers the company’s non-core ESWL lithotripsy and Distribution activities, investor presentations, financial guidance, and board or committee changes affecting the France-based issuer’s Nasdaq-listed American depositary shares.
EDAP announced a strong sales performance during Q2 and early Q3 2020, including four sales of its Focal One systems, three of which were bundled with Exact Imaging’s ExactVu technology. New customers include Edouard Herriot University Hospital and Ochsner Medical Center, with a notable upgrade sale to Mount Sinai Health System. The CEO remarked on the recovery from COVID-19 related disruptions, noting a positive impact from their partnership with Exact Imaging. EDAP expects to maintain sales momentum through the remainder of the year and will provide further updates during the upcoming Q2 conference call.
EDAP TMS SA has appointed Marie Meynadier to its Board of Directors as of June 30, 2020. A seasoned executive, Meynadier brings over 20 years of experience in the medical technology sector, including her previous role as CEO of EOS Imaging, where she saw sales grow at a CAGR of 32% from 2012 to 2017. Chairman Marc Oczachowski expressed confidence in her ability to enhance the company's R&D and expand its HIFU technology into new applications. Meynadier emphasizes her belief in EDAP's potential within the therapeutic ultrasound market, particularly through its Focal One® solution.
EDAP TMS SA (Nasdaq: EDAP) has appointed Frank Van Hyfte as Vice President of Global Sales and Marketing, bringing over 25 years of experience in medical technology sales. He joins from Exact Imaging, where he was Executive VP of Sales and Marketing. The appointment coincides with a global distribution agreement between EDAP and Exact Imaging to integrate their technologies for prostate cancer management. CEO Marc Oczachowski highlighted Van Hyfte's success at Intuitive Surgical, emphasizing his potential to drive growth in EDAP's sales pipeline and expand market reach.
EDAP TMS SA (Nasdaq: EDAP) reported Q1 2020 revenues of EUR 7.6 million, down 24.9% year-on-year due to COVID-19 impacts. The HIFU segment saw a dramatic 50.2% decrease to EUR 1.9 million, with no Focal One units sold. The company maintains a strong cash position of EUR 18.5 million. EDAP signed a global distribution agreement with Exact Imaging to provide an end-to-end prostate cancer management solution. The company aims to refocus on HIFU and its growth opportunities, while operating expenses reduced slightly to EUR 4.5 million, resulting in a net loss of EUR 1.3 million for the quarter.
EDAP TMS SA (Nasdaq: EDAP) has signed an exclusive worldwide distribution agreement with Exact Imaging, a leader in high-resolution micro-ultrasound technologies. This partnership will allow EDAP to market ExactVu™, a diagnostic tool with proven prostate cancer diagnostic capabilities comparable to MRI, alongside its Focal One® high-intensity focused ultrasound treatment. This collaboration offers a comprehensive solution for urologists in prostate cancer management, potentially serving as a significant growth driver for EDAP.
EDAP TMS SA (Nasdaq: EDAP) will announce its first-quarter financial results for the period ending March 31, 2020, after market close on May 13, 2020. A conference call and webcast will be held on May 14, 2020, at 8:30 am EDT, featuring CEO Marc Oczachowski and CFO François Dietsch.
EDAP TMS specializes in minimally invasive medical devices for urology, leveraging ultrasound technology. Their products include the Focal One® and Ablatherm® systems for prostate tissue ablation, as well as the Sonolith® systems for shock wave lithotripsy.