Record USCOM1A, BP+ and SpiroSonic Manufacturing to End FY 2019
On Tuesday the 9th of July 2019, Uscom limited notified the market that it had completed the financial year with record monthly manufacturing and sales of USCOM1A devices and record annual manufacturing and sales of BP+ and SpiroSonic devices.
Uscom manufactured and sold to customers a record 26 USCOM 1A devices for the month of June, while for the 2019 full year the figure was 108 units, up 17% year on year (yoy). Uscom also manufactured and shipped to customers 119 Uscom BP+ devices for the year, up 143% yoy, and also manufactured and shipped 750 digital spirometers, up 74% yoy from 430 in FY 2018. These numbers represent a significant growth in orders for Uscom products in advance of our China NMPA applications which are rapidly approaching approval phase. The Uscom BP+ sales were predominantly research driven with two significant multi-centre blood pressure studies in the US, partnering with one of the world’s leading technology companies, and in New Zealand in a national public health project. The SpiroSonic sales were boosted by growing US eHealth applications. While USCOM 1A numbers represent an end of year cluster to meet increasing demand from the China market.
Uscom CEO Associate Professor Rob Phillips said, “2019 has been one of consolidation as we build out our manufacturing capabilities in Europe and Australia to ensure supply once we receive China NMPA approvals and orders from China dealers for BP+ and SpiroSonic. In FY 2019 we also expanded and re-structured Uscom Kft, our wholly owned Budapest operation, to meet the anticipated demand from China for our sector leading digital ultrasonic SpiroSonic devices once we receive our China NMPA approval. Despite a three to twelve month disruption of re-approvals and sales into Europe, the US, middle East and SE Asia associated with the relocation, Uscom Kft, increased annual manufacturing by 74% over FY 2019.
For China our list of achievements include registering Uscom China, opening a Beijing office, advancing our NMPA applications covering 8 products, submitted a new spirometry device for approval, achieved type II medical device sales certification, establishing a medical device importation system, employed 6 clinical and admin staff, applied for 14 China trademarks and copyrights and have received granting for 3, restructured our sales and dealer models, developed China specific marketing materials for dealers, hosted our first national ICU congress, and investigated a china manufacturing strategy with local partners.
2019 has closed with strong manufacturing growth in all divisions, with the major growth anticipated following China NMPA approvals. China remains our strategic growth platform, and all NMPA applications are in, or are progressing to the approval phase, but precise approval dates remain inconclusive. We have invested in manufacturing growth, regulatory approvals and global expansion of distribution, while continuing to grow ahead of trend, and we are looking forward to acceleration of this growth in the year ahead.”