Q3 Revenues Ramp to $1.2 Million, Driven by U.S. Commercial Rollout of STERIZONE® VP4 Sterilizer
Build-Out of U.S. Distribution and Customer Support Facility Complete
QUÉBEC CITY, Nov. 4, 2015 /CNW Telbec/ - TSO3 Inc. (TSX: TOS), an innovator in sterilization technology for medical devices in healthcare settings, reported financial results for the third quarter ended September 30, 2015.
Third Quarter 2015 Highlights vs. Year-Ago Quarter
- Shipped seven STERIZONE® VP4 Sterilizers in the U.S.
- Revenues totaled $1.2 million versus $98,000.
- Completed build-out of U.S. distribution and customer support facility.
- Submitted required documentation to Health Canada in support of commercializing the STERIZONE® VP4 Sterilizer.
- Pursued extended claims for its STERIZONE® Sterilizer for the Canadian, U.S. and European markets.
- Received Notice of Acceptance from the US Patent Office for the first of several patent applications covering critical aspects of TSO3's technology.
- Engaged Liolios Group to lead new strategic investor relations program.
"During the third quarter we continued to leverage our relationship with Getinge Infection Control in the USA, our non-exclusive partner and the results are now showing in our financials," said TSO3 president and CEO, Mr. R.M. (Ric) Rumble. "Seven STERIZONE® VP4 Sterilizers were shipped in the U.S. during the third quarter, two of which have been installed. Getinge's work continues to build an ever increasing set of targeted opportunities, with a comprehensive pipeline set for 2016. We continue to see their commitment towards expanding the sales pipeline in the U.S. with the recruitment of dedicated sales specialists in North America specifically for the STERIZONE® VP4 Sterilizer.
"In Canada, we recently announced the clearance from Health Canada, the Canadian equivalent of the Unites States FDA, to sell the STERIZONE® VP4 Sterilizer with extended claims in the Canadian marketplace. These new claims are an industry first as they relate to the sterilization of multi-channeled flexible endoscopes and further extend the claims superiority of our sterilizer in the industry. We expect to initiate retrofitting of sterilizers in Canada shortly to allow these cleared claims. Potential customers also visited TSO3's Quebec facility as well as active hospital installations to learn more about the Canadian in-use experience with our sterilizer.
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