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PHOENIX, Aug. 21, 2018 (GLOBE NEWSWIRE) -- (OTCQB:SNWV) -- SANUWAVE Health, Inc.’s Chairman and CEO, Kevin Richardson, Returns to Uptick Newswire’s “Stock Day” Podcast to report on a 300% increase in revenue.
The interview began with Jolly noting, “You know, you guys knocked it out of the park. You just reported your 2nd Quarter revenue up 300%. Is this sustainable and how did we get there?”
Richardson responded that the Company had its best 2nd Quarter ever. They got their FDA clearance in December 2017 and they’re now beginning to see the fruits of all that hard work. The sales in the 2nd Quarter were driven by international deals that really came to light because of the FDA approval. He does believe this growth is sustainable and anticipates continued growth for the remainder of this year.
Jolly wanted to know how big the diabetic foot ulcer market really is.
Unfortunately, it’s growing rapidly and even faster internationally. Richardson indicated that about 10% of the U.S. population suffers from diabetes and about 10% of that figure will suffer some sort of diabetic foot ulcer complication. He indicated the current figure is around 1.8 million people diagnosed with this condition per year, just in the U.S.
Jolly then inquired about the recent FKS deal. SANUWAVE has entered into an agreement with FKS where the Company will go into 11 countries with FKS as their distribution joint venture partner. FKS will be publicly traded later this year and do about $400 million in revenue.
Jolly recently learned that the Company signed three international deals and wanted to know what that involved. Richardson that they were the FKS deal, one in Romania and the other was in Costa Rica. This has allowed SANUWAVE to connect with leading experts in wound care in various parts of the world. These three deals will allow the Company to build out its infrastructure to grow on an international basis.
Richardson commented that the Company’s management team is very committed to standing alongside investors and shareholders. They have put some unusual warrants in place to guarantee income between now and the beginning of 2019, together with the international deals, which is going to fund their operations.
The show concluded with Richardson saying that the Company’s goal is to have a device in place anywhere where there are diabetic foot ulcer patients, which means between 4- to 5,000 locations in the U.S. If they’re treating one patient per day at between $2-300 per device, that means it’s around a $700 million opportunity. This is the bigger picture.
Richardson said the Company is driven to honor its commitments and deliver on them and that’s what they’ve done.
For more information about the Company’s financial details, listen to the full interview at the link below:
SANUWAVE Health, Inc.
SANUWAVE Health, Inc., is an emerging leader in the development and commercialization of non-invasive, biological response activating devices in the regenerative medicine area for the repair and regeneration of tissue, musculoskeletal and vascular structures. SANUWAVE's portfolio of products and product candidates activate biologic signaling and angiogenic responses, including revascularization and microcirculatory improvement, helping restore the body's normal healing processes and regeneration. SANUWAVE is applying its Pulsed Acoustic Cellular Expression (PACE) technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions.
Safe Harbor Act and
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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