Salona Global Finalizes Name Change to Evome Medical Technologies to Reflect Turn Around and New Innovation Focus; Restructures Board of Directors
Salona Global Finalizes Name Change to Evome Medical Technologies to Reflect Turn Around and New Innovation Focus; Restructures Board of Directors
NEW YORK, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Salona Global Medical Device Corporation (the "Company") (TSXV:SGMD), is pleased to announce its corporate name change to Evome Medical Technologies Inc. on January 22, 2024, and trading of the Company's common shares on the TSX Venture Exchange will commence under the ticker symbol "EVMT" on January 22, 2024. The name change reflects the Company's commitment as a high-tech physical therapy medical device company. Appointed in June 2023, Mr. Seckler has successfully implemented strategic imperatives that have resulted in the establishment of the new Evome Medical Technologies Inc:
紐約,2024年1月18日(環球新聞專線)——薩羅納環球醫療器械公司( “公司”)(多倫多證券交易所股票代碼:SGMD)欣然宣佈於2024年1月22日將其公司更名爲Evome Medical Technologies Inc.,並在該公司的普通股上市多倫多證券交易所風險交易所將於2024年1月22日上市,股票代碼爲 “EVMT”。更名反映了公司作爲高科技物理治療醫療器械公司的承諾。塞克勒先生於2023年6月被任命,成功實施了戰略要務,從而成立了新的Evome Medical Technologies Inc.:
- 18.5% revenue growth for the quarter ending September 30, 2023 (compared to the previous quarter), management expects revenue growth to continue into 2024.
- 29% gross profit growth for the quarter ending September 30, 2023 (compared to the previous quarter), management expects gross profit growth to continue into 2024.
- Generated positive Adjusted EBITDA (defined below) of $749,425 for the quarter ending September 30, 2023, management expects positive Adjusted EBITDA growth to continue into 2024.
- Announced plans to launch two new Biodex products, the SpaceTek Knee (November 17, 2023) and the Biodex Reactive Step Trainer (December 18, 2023), into the private physical therapy market that has ten times the amount of customers than the institutional market current Biodex products are marketed to.1
- Reduced Biodex acquisition debt by US$428,237 in the third quarter and extended the balance of the debt until July 2025 pursuant to the previously announced forbearance agreement.
- Restructured the management team and Board of Directors with a focus on innovation focused managers and board members with the most recent change coming from Leslie Cross retiring from the Board of Directors.
- Refocused the capital markets communication with new investor presentation () in advance of attending the CEM AlphaNorth Capital Event in Nassau, Bahamas from January 19-21, 2024.
- 截至2023年9月30日的季度(與上一季度相比)收入增長18.5%,管理層預計收入增長將持續到2024年。
- 管理層預計,截至2023年9月30日的季度毛利增長29%(與上一季度相比),毛利增長將持續到2024年。
- 截至2023年9月30日的季度,調整後息稅折舊攤銷前利潤爲正(定義見下文)of 749,425美元,管理層預計調整後息稅折舊攤銷前利潤的正增長將持續到2024年。
- 宣佈計劃向私人物理治療市場推出兩款新的Biodex產品,即SpaceTek Knee(2023年11月17日)和Biodex Reactive Step Trainer(2023年12月18日),該市場的客戶數量是目前Biodex產品銷售的機構市場的十倍。1
- 根據previously 宣佈的寬限協議,在第三季度將Biodex的收購債務減少了428,237美元,並將debt 的餘額延長至2025年7月。
- 重組了管理團隊和董事會,重點關注創新的經理和董事會成員,最近的變動來自萊斯利·克羅斯從董事會退休。
- 在參加2024年1月19日至21日在巴哈馬拿騷舉行的CEM AlphaNorth Capital活動之前,通過新的投資者演講()重新調整了資本市場溝通的重點。
Mr. Seckler expressed, "Now that we generated revenue growth and Adjusted EBITDA, we are prioritizing the creation of new products and strengthening our ability to innovate in the rapidly expanding physical rehabilitation and recovery market." In closing, Mr. Seckler stated, "Our focus is on product innovation, and we are structuring Evome to be in a position for continuous growth. The recent changes, such as reducing debt, adding new distribution agreements, and the restructuring of the board, solidify our commitment to sustained success."
塞克勒表示:“現在我們實現了收入增長和調整後的息稅折舊攤銷前利潤,我們將優先開發新產品並增強我們在快速擴張的物理康復和康復市場的創新能力。”最後,塞克勒先生表示:“我們的重點是產品創新,我們正在構建Evome以使其能夠持續增長。最近的變化,例如減少債務、增加新的分銷協議以及重組董事會,鞏固了我們對持續成功的承諾。”
For more information please contact:
欲了解更多信息,請聯繫:
Mike Seckler
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@Salonaglobal.com
邁克·塞克勒
首席執行官
電話:1 (800) 760-6826
電子郵件:Info@Salonaglobal.com
Non-GAAP Measures
非公認會計准則指標
This press release refers to "Adjusted EBITDA" which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company's presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This non-GAAP financial measure assists the Company's management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete acquisition plans that are fundamentally different from the ongoing operating plans of the Company. The Company's management also believes that presenting this measure allows investors to view the Company's performance using the same measures that the Company uses in evaluating its financial and business performance and trends.
本新聞稿提及 “調整後息稅折舊攤銷前利潤”,這是一項非公認會計准則和非國際財務報告準則財務measure,not 具有公認會計原則或國際財務報告準則規定的標準化含義。Company 對這份財務measure 的呈現方式可能無法與其他公司使用的類似標題的measures 相提並論。這種非公認會計准則財務指標有助於公司management 比較其一段時間內的經營業績,因爲某些項目可能obscure 基本業務趨勢,難以比較長期業績,as 它們的性質和/或規模,發生頻率不一致或與離散有關acquisition 計劃與Company 的持續運營計劃有根本的不同。公司管理層還認爲,提出這項衡量標準允許investors 使用與公司uses 評估其財務和業務業績及趨勢相同的衡量標準來查看公司的業績。
"Adjusted EBITDA" is defined as net loss excluding interest expense, provision for income taxes, depreciation of property and equipment, amortization of right-of-use asset, amortization of intangible asset, foreign exchange (loss) gain, other income, provision for impairment, change in fair value of contingent consideration, transaction costs, and stock-based compensation.
“調整後息稅折舊攤銷前利潤” 定義爲淨虧損,不包括利息支出、收入準備金taxes、財產和設備折舊、使用權資產攤銷、攤銷of 無形資產、外匯(虧損)收益、其他收入、減值準備金、或有對價公允價值change、交易成本和股票compensation。
The following table provides reconciliation between net income (loss) and Adjusted EBITDA:
下表提供了淨收益(虧損)與調整後息稅折舊攤銷前利潤之間的對賬:
For the three months ended | For the nine months ended | |||||||||||||||
September 30 | September 30 | September 30 | September 30 | |||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
Net Loss | $ | 2,988,468 | $ | (9,801,081) | $ | 209,881 | $ | (14,045,048) | ||||||||
Interest Expense | 641,466 | 196,788 | 1,373,998 | 432,005 | ||||||||||||
Provision for income taxes | 9,561 | (69,033) | 48,105 | (214,750) | ||||||||||||
Depreciation of property and equipment | 273,092 | 172,654 | 722,422 | 313,594 | ||||||||||||
Amortization of right-of-use asset | 518,873 | 133,991 | 1,441,014 | 304,027 | ||||||||||||
Amortization of intangible asset | 392,615 | 254,706 | 1,093,714 | 718,716 | ||||||||||||
Foreign exchange (loss) gain | 80 | 62,971 | (4,438) | 66,904 | ||||||||||||
Other income | (1,185,110) | (1,252) | (2,000,671) | (1,300) | ||||||||||||
Provision for impairment | - | - | - | 5,527,913 | ||||||||||||
Change in fair value of earnout consideration | - | - | (1,165,697) | 2,451,600 | ||||||||||||
Change in fair value of contingent consideration | (3,542,325) | 8,053,337 | (3,269,230) | 2,659,329 | ||||||||||||
Transaction costs | 72,839 | 838,957 | 607,151 | 2,407,366 | ||||||||||||
Severance Expenses | 315,569 | - | 544,318 | - | ||||||||||||
Stock based compensation | 264,637 | 378,683 | 1,001,733 | 1,306,341 | ||||||||||||
Adjusted EBITDA | $ | 749,765 | $ | 220,721 | $ | 602,300 | $ | 1,926,697 |
在結束的三個月中 | 在結束的九個月中 | |||||||||||||||
9 月 30 日 | 9 月 30 日 | 9 月 30 日 | 9 月 30 日 | |||||||||||||
2023 | 2022 | 2023 | 2022 | |||||||||||||
淨虧損 | $ | 2,988,468 | $ | (9,801,081) | $ | 209,881 | $ | (14,045,048) | ||||||||
利息支出 | 641,466 | 196,788 | 1,373,998 | 432,005 | ||||||||||||
所得稅準備金 | 9,561 | (69,033) | 48,105 | (214,750) | ||||||||||||
財產和設備的折舊 | 273,092 | 172,654 | 722,422 | 313,594 | ||||||||||||
使用權資產的攤銷 | 518,873 | 133,991 | 1,441,014 | 304,027 | ||||||||||||
無形資產攤銷 | 392,615 | 254,706 | 1,093,714 | 718,716 | ||||||||||||
外匯(虧損)收益 | 80 | 62,971 | (4,438) | 66,904 | ||||||||||||
其他收入 | (1,185,110) | (1,252) | (2,000,671) | (1,300) | ||||||||||||
減值準備金 | - | - | - | 5,527,913 | ||||||||||||
收益對價公允價值的變化 | - | - | (1,165,697) | 2,451,600 | ||||||||||||
或有對價公允價值的變化 | (3,542,325) | 8,053,337 | (3,269,230) | 2,659,329 | ||||||||||||
交易成本 | 72,839 | 838,957 | 607,151 | 2,407,366 | ||||||||||||
遣散費 | 315,569 | - | 544,318 | - | ||||||||||||
基於股票的薪酬 | 264,637 | 378,683 | 1,001,733 | 1,306,341 | ||||||||||||
調整後 EBITDA | $ | 749,765 | $ | 220,721 | $ | 602,300 | $ | 1,926,697 |
Additional Information
附加信息
Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian dollars.
除非另有說明,否則本新聞稿中的所有美元金額均以加拿大語dollars 表示。
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
多倫多證券交易所風險投資交易所及其監管服務提供商(該術語在多倫多證券交易所風險投資交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Certain statements contained in this press release constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as "expects" "believes", "estimates", "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", and "anticipate", and similar expressions as they relate to the Company, including: management expecting revenue growth to continue into 2024; the Company launching new products in 2024; and the Company being in a position for continuous growth. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: increased demand for the Company's products, including at increased prices; the Company expecting the execution of additional distribution agreements; the Company expecting continued improvement with its product mix by increasing its ratio of sales of high-margin products compared to its lower margin contract manufacturing sales; and the Company expecting minimal increase to its operating, direct and variable costs during 2024. The Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include but are not limited to the general business and economic conditions in the regions in which the Company operates; the ability of the Company to execute on key priorities, including the successful completion of acquisitions, business retention, and strategic plans and to attract, develop and retain key executives; difficulty integrating newly acquired businesses; ongoing or new disruptions in the supply chain, the extent and scope of such supply chain disruptions, and the timing or extent of the resolution or improvement of such disruptions; the ability to implement business strategies and pursue business opportunities; disruptions in or attacks (including cyber-attacks) on the Company's information technology, internet, network access or other voice or data communications systems or services; the evolution of various types of fraud or other criminal behavior to which the Company is exposed; the failure of third parties to comply with their obligations to the Company or its affiliates; the impact of new and changes to, or application of, current laws and regulations; granting of permits and licenses in a highly regulated business; the overall difficult litigation environment, including in the United States; increased competition; changes in foreign currency rates; increased funding costs and market volatility due to market illiquidity and competition for funding; the availability of funds and resources to pursue operations; critical accounting estimates and changes to accounting standards, policies, and methods used by the Company; the occurrence of natural and unnatural catastrophic events and claims resulting from such events; as well as those risk factors discussed or referred to in the Company's disclosure documents filed with United States Securities and Exchange Commission and available at www.sec.gov, and with the securities regulatory authorities in certain provinces of Canada and available at . Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
本新聞稿中包含的某些陳述構成1995年《私人證券訴訟改革法》和適用的加拿大證券法所指的 “前瞻性信息”。這些陳述可以通過使用前瞻性術語來識別,例如 “期望”,“相信”,“估計”,“可能”,”會”、“可以”、 “應該”、“潛在”、 “將”、“尋求”、“打算”、“計劃” 和 “預測”,以及相關的類似表達to 該公司,包括: 管理層預計收入增長將持續到2024年; 公司於2024年推出新產品; 而且公司有能力持續增長。 除historical 事實陳述外,所有statementsother 都可能是前瞻性的 信息。此類陳述反映了公司目前對未來events 的看法和意圖以及公司目前獲得的信息,並受某些風險、uncertainties 和假設的影響,包括:對公司產品的需求增加,包括價格上漲;公司預計將執行額外的分銷協議;公司預計其產品組合將持續改善與利潤率較低的合同製造銷售相比,其高利潤產品的銷售比率有所增加;該公司預計,2024年其運營、直接和可變成本的增長幅度微乎其微。公司警告說,此處包含的前瞻性陳述受重要因素的限制,這些因素可能導致實際業績與此類陳述所反映的業績存在重大差異。這些因素包括但不限於公司運營地區的general 業務和economicconditions;公司執行關鍵任務的能力whichpriorities,including 成功完成收購、業務 保留和 戰略計劃以及 吸引、發展and 留住關鍵高管;難以整合新收購的業務;ongoing 或供應鏈出現新的中斷、此類供應鏈中斷的程度和範圍,以及解決或改善此類中斷的時機或程度;能力 實施業務戰略並尋求商機;disruptions 對公司信息技術、互聯網、網絡接入或其他方面的攻擊(包括cyber-攻擊)voice 或數據communications 系統或服務;公司面臨的各種欺詐或其他criminal 行爲的演變;第三方未能履行其對 公司或其affiliates 的義務;現行法律法規的新、變更或適用的 影響;granting 在高度監管的企業中對許可證和執照的影響;overall 艱難litigation 環境,包括美國的環境;競爭加劇;外幣匯率的變化;increasedfundingcosts 以及市場流動性不足和資金競爭導致的市場波動;基金的availabilityand 用於開展運營的資源;關鍵accounting 估計和會計準則、政策的變化, 以及公司使用的方法;自然和非自然的發生 災難性eventsand 索賠resulting 來自此類事件;以及所討論的風險因素或referred 至in 向美國證券交易委員會提交的披露documentsCompanyandavailable 在www .sec.gov,還有加拿大某些省份的the 證券監管機構,available 位於。如果任何factor 以意想不到的方式影響公司,或者assumptions 標的the 前瞻性information 被證明不正確,則實際業績或事件可能會有所不同materially 來自結果or 事件的預測。Any 本警示詞在entirety 中對此類前瞻性信息進行了明確限定statement。此外,the Company 對這種外觀forward 的information 的準確性或completeness 不承擔任何責任。本新聞稿中包含的前瞻性信息is 截至本新聞稿date 發佈release 且公司沒有義務公開更新或修改any 向前發佈looking 信息,other 超出適用法律的要求。
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