Welcome to our dedicated page for Electromedical T news (Ticker: EMED), a resource for investors and traders seeking the latest updates and insights on Electromedical T stock.
Electromedical Technologies, Inc. (EMED) is a Scottsdale, Arizona-based medical device company focused on bioelectronic and electrotherapy technologies for pain management. Company news frequently centers on the development, manufacturing, and commercialization of its FDA-cleared electrotherapy devices, including the WellnessPro Plus and its next-generation flagship device, the WellnessPro Infinity™.
News updates from Electromedical often highlight milestones in product development and engineering for the WellnessPro Infinity, such as completion of development, detailed design features, and preparation for production. Releases describe the device’s multi-modality capabilities, support for a range of electrotherapy techniques, and technical elements like multiple circuit boards, microcontrollers, and user interface modules that the company associates with precision and customizable treatment options.
Investors and observers can also find coverage of financial and operational developments. Electromedical has issued updates on sales trends, preliminary revenue figures for specific periods, and steps taken to expand its sales and marketing infrastructure. The company has reported on increasing distributors and clinics, onboarding medical sales representatives, and participating in trade shows and pain conferences to promote its devices.
Another recurring theme in EMED news is capital structure and regulatory alignment. The company has announced debt restructuring agreements, conversions of convertible promissory notes into equity, and other efforts to reduce potential dilution and improve financial flexibility. In a mid-year update, Electromedical reported filing a Form 15 to voluntarily suspend SEC reporting obligations while maintaining OTC quotation status. Readers following EMED news can use this page to review these product, financial, and strategic updates over time.
Electromedical Technologies (OTC: EMED), a developer of FDA-cleared electrotherapy devices for pain management, has released a mid-year update outlining significant restructuring initiatives. The company has finalized an agreement with its largest convertible noteholder to retire their position, reducing potential dilution.
EMED has voluntarily suspended SEC reporting obligations by filing Form 15, while maintaining OTC Markets compliance and 15c2-11 quotation status. The company plans to resume full SEC reporting within the allowed timeframe.
Upcoming announcements include new board appointments, distribution agreements in healthcare and consumer sectors, preliminary purchase orders, WellnessPro Infinity™ device updates, and expanded strategic partnerships.
Electromedical Technologies (OTC PINK:EMED) has announced key updates for its WellnessPro Infinity pain management device, scheduled for production in early 2025. The device features 11 circuit boards spanning one-square-foot and contains 1,454 individual components, including advanced microcontrollers, precision resistors, capacitors, signal amplifiers, power management systems, and user interface modules.
Production is set to begin in the third week of 2025, following factory evaluations. The company has faced challenges including global supply chain disruptions and European manufacturing standards. EMED confirms it will honor all pre-sale pricing for existing orders, despite planned price adjustments in 2025.
Electromedical (EMED), a leader in bioelectronic medical devices, has provided a shareholder update highlighting recent achievements and strategic advancements. Key points include:
1. 17% year-over-year revenue increase in 2023
2. Strategic partnership with Lionheart Health, winner of the Abbvie Allergan Aesthetics ULP Golden Passport Award
3. Completion of Wellness Pro Infinity™ product development
4. Successful renegotiation of creditor agreements
5. Launch of pre-orders for Wellness Pro Infinity™
6. Onboarding of a medical group with 200 sales representatives
The company has positioned itself for growth with its innovative technology and expanded market reach, aiming to transform chronic pain treatment approaches.
Electromedical Technologies, Inc. (OTC-PINK: EMED) has released preliminary unaudited financial data for the year ending December 31, 2022. Total revenue reached approximately $1.15 million, marking a 26.7% increase year-over-year. In Q4 alone, revenue surged by 79% year-over-year and 51% sequentially. CEO Matthew Wolfson highlighted a strong marketing performance and significant brand awareness as driving factors. The company plans to launch its new WellnessPro Infinity device, featuring enhanced capabilities, in 2023. Management is optimistic about expanding customer resources and growth opportunities in the upcoming year.
Sika Health and Electromedical Technologies, Inc. (OTC: EMED) announced a partnership enabling HSA/FSA payments on Electromedical's eCommerce site. This innovative integration allows millions suffering from chronic pain to purchase pain relief products directly using their HSA/FSA funds, eliminating the need for reimbursement through healthcare administrators. CEO Matthew Wolfson stated this partnership enhances affordability while maintaining profit margins. With around 70 million Americans holding HSA/FSA accounts, this collaboration aims to address the significant amount of unspent benefits, which totaled $4.2 billion in 2020 alone.
Electromedical Technologies (OTC-QB: EMED) reported a 24% increase in net sales, totaling approximately $280,000 for Q3 2022, reflecting its best quarterly performance since Q1 2020. The company narrowed its net loss to $2.64 million over nine months, a 60% improvement year-over-year. Investment in the new WellnessPro Infinity™ device and expanded marketing efforts are underway in anticipation of a 2023 launch. However, selling, general, and administrative expenses increased by 23% compared to the previous year, partly due to hiring a new sales director.
Electromedical Technologies has completed the development of its new flagship device, the WellnessPro Infinity™, designed to relieve various pain types. The company plans to start taking pre-orders in Q1 2023, following electrical safety testing. This device boasts features like compactness, versatility in treatment modalities, and a user-friendly interface. Electromedical emphasizes the device's potential to improve patient outcomes and address the opioid crisis. The WellnessPro Infinity™ is expected to set a new standard in the bioelectronics market, with plans for ongoing updates and developments.
Electromedical Technologies, Inc. (OTC-QB: EMED) reported a strong Q3 2022, with sales of approximately $280K, a 24% increase from Q2. This marks the second highest revenue since Q1 2020, though lower than $301K in Q3 2021. The company secured $900K in financing to boost new unit development and expanded its distributor network. Management anticipates continued growth in Q4, driven by onboarding new sales representatives and enhanced market penetration of its flagship product, WellnessPro Plus.
Electromedical Technologies, Inc. (EMED) reported significant financial progress for Q2 2022, showing an 11% rise in net sales to $225k, with gross margins up to 80%. The company's operational loss decreased by 85% to $283k. For the first half of the year, net sales grew 21% to $447k, while the net loss shrank 49% to $1.7M. They also improved their balance sheet with a $600k debt reduction via a debt-to-equity conversion. Electromedical is focusing on expanding sales and marketing while developing next-generation technology for scalable growth.
On July 20, 2022, Electromedical Technologies (OTC: EMED) announced a major restructuring of its balance sheet. The company converted $668,369.56 in promissory notes into approximately 26.7 million shares of restricted common stock at $0.025 per share. This agreement resulted in a 35% reduction in convertible promissory note-related debt, significantly impacting the company's total liabilities of around $2.2 million as of March 31, 2022. CEO Matthew Wolfson expressed gratitude to the debtholder for their support, marking a shift towards a long-term partnership.