Our strategic initiatives, coupled with strong execution and focus on value creation, significantly improved the financial performance and strength of the company on several key metrics compared to the prior year, including:
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Group revenues up 12% to $15.9 million
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Cash operating loss of $0.08 million, down significantly from $1.95 million loss in the prior year
- Announced our first sales and implants of AngelMed Guardian in August 2020
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Invested $1.7 million in high potential opportunities under our “Buy, Build, Invest’ strategy
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Strengthened 30 June 2020 cash on hand to $4.2 million, including the July 2020 capital raise
On 13 March 2020, Hydrix announced it had completed the acquisition of the exclusive rights to distribute Angel Medical System’s “AngelMed Guardian” implantable heart attack warning system.
On 17 August 2020, Hydrix announced the world first implants of AngelMed’s upgraded Guardian device in four patients in Singapore. These device implants were made possible by the outstanding efforts from the implanting cardiologist Dr. Leslie Lam and his medical team in Singapore, a Hydrix Medical field clinical engineer based in Singapore, and real-time remote support from AngelMed in the USA.
This outstanding collaborative achievement by all parties in a global COVID lockdown environment is a testament to the capability of our people. It represents a significant milestone for the company as it lays the foundation for future growth.
We continue to evaluate numerous exciting opportunities to expand the cardiovascular and medical device product portfolio within Hydrix Medical.
For more about Hydrix Medical and the AngelMed Guardian, visit www.hydrixmedical.com.