Investor News
Payment of deferred consideration
On 3 August 2016, MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound skills training simulators for medical professionals, announced the acquisition of Inventive Medical Limited (“IML”). Further to the terms of the acquisition, 2,325,582 new ordinary shares are being issued to The Incorporated Trustees of University College London Hospitals Charities (the “Retention Shares”). The issue of the Retention Shares was contingent on no seller warranty or indemnity breaches (as specified in the IML Sale and Purchase Agreement) arising during the 12 month period following the acquisition. The directors can confirm no seller warranty or indemnity breaches have occurred. Application has been [...]
Half yearly report
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound training simulators for medical professionals, announces its unaudited half year results to 30 June 2017. Financial highlights Sales increased 63% on the comparative period to £2.1m (H1 2016: £1.3m) Cash balance at 30 June 2017 of £0.6m (31 December 2016: £1.8m) Positive progress made to raise funds to take the Group through its next stage of development Operational update ScanTrainer Professional 2017 Edition launched New Emergency Medicine simulator under development Chinese reseller network trained and selling systems in key growth market First ScanTrainer sales in India North American sales [...]
AGM statement
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound training simulators for medical professionals, will hold its Annual General Meeting today at 10.30 a.m. at the Company’s registered office, Cardiff Medicentre, Heath Park, Cardiff CF14 4UJ. At the meeting the Chairman, Riccardo Pigliucci, will make the following statement: There are welcome signs that the Group is regaining traction in North America and the Board is encouraged about prospects for the Group in the year ahead. As we announced in our Final Results statement, we are currently pursuing fund raising options to take the Group through the next stage [...]
Result of annual general meeting
MedaPhor Group plc announces that at its Annual General Meeting held earlier today all resolutions proposed were duly passed by shareholders.
Notice of annual general meeting
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound training simulators for medical professionals, announces that the Company’s Annual General Meeting (“the AGM”) will be held on 23 May 2017 at 10.30 a.m. at the Company’s registered office, Cardiff Medicentre, Heath Park, Cardiff CF14 4UJ. The Group’s 2016 Annual Report which contains the formal notice of the AGM has today been posted on the Group’s website, www.medaphor.com. Hard copies of the Annual Report including the Notice and a form of proxy for use at the AGM have been posted to all shareholders.
Grant of options
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound training simulators for medical professionals, announces that Ian Whittaker, Chief Operating Officer, has today been granted 200,000 options over ordinary shares of the Company of 1 pence each (“Ordinary Shares”), pursuant to the MedaPhor Group plc EMI Share Option Scheme. The exercise price of the options is 20.5p per Ordinary Share. 60,000 share options may be exercised between 5 April 2020 and 4 April 2027 (“the Lapse Date”), with the remaining options vesting subject to the achievement of certain financial performance criteria which must be achieved before the Lapse Date. [...]
Medaphor Group plc – final results
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound education simulators for medical professionals, announces its preliminary results for the year ended 31 December 2016. Financial highlights Revenues increased 49% to £3.3m (2015: £2.2m) UK sales up 27%, North America sales up 7% and Rest of World sales up 166% Loss before tax and exceptional items £1.8m (2015: Loss, £1.7m) Raised £3.0m net of costs by way of placing of shares Year-end cash at £1.8m (2015: £1.3m) Operational highlights Acquired Inventive Medical Limited (HeartWorks) bringing complementary products and resources using MedaPhor shares as consideration Placing funds enabled further [...]
Patent infringement settlement and trading update
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound training simulators for medical professionals, provides the following update on the patent infringement settlement and on trading for the year to 31 December 2016. Patent infringement settlement Further to the statement made by the Company on 16 December 2016, the Group subsidiaries, MedaPhor Limited and MedaPhor North America Inc. (collectively “MedaPhor”), announce that MedaPhor and SonoSim Inc. and The Regents of the University of California have now formalized and executed their agreement on a patent license and patent infringement settlement. As a result, the lawsuit between the parties will be [...]
Patent infringement settlement
Further to the statement made by the Company on 27 April 2016 (RNS No. 4638W: Notice of Patent Infringement Proceedings), the Group subsidiaries, MedaPhor Limited and MedaPhor North America Inc. (collectively “MedaPhor”), announce that MedaPhor and SonoSim Inc. and The Regents of the University of California have reached an agreement in principle on a patent license and patent infringement settlement. As a result, the parties will proceed to formalize their agreement in writing, following which the lawsuit between the parties will be dismissed. The settlement will be satisfied from the existing cash resources of the Group. The Company will provide [...]
Director appointment
MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound skills training simulators for medical professionals, announces the appointment of Ian Whittaker as Chief Operating Officer and Executive Director, effective as of 21 September 2016. Ian George Whittaker, aged 62, was formerly the CEO of Inventive Medical Ltd (“IML”), the cardio ultrasound simulation company that was acquired by MedaPhor in August 2016. Ian previously held roles at Hewlett Packard, where he was appointed to the UK Board in 2002, working as Vice President for the UK Consumer, Imaging and Printing team. Since leaving Hewlett Packard in 2005, Ian worked for [...]