Evome Medical Technologies Reduces Acquisition Debt, Bolsters Management Team to Support SpaceTeck Knee and Reactive Step Trainer 2024 Product Roll-Out
Evome Medical Technologies Reduces Acquisition Debt, Bolsters Management Team to Support SpaceTeck Knee and Reactive Step Trainer 2024 Product Roll-Out
NEW YORK, Jan. 31, 2024 (GLOBE NEWSWIRE) -- Evome Medical Technologies Inc. (the "Company") (TSXV: EVMT) announced it has reduced acquisition bank debt by $535,093 as a result of the sale of Arrowhead Medical, LLC ("Arrowhead"), originally acquired in May 2023 (see News Release dated May 16, 2023). As part of the adjustment, Arrowhead will continue to serve as the exclusive distributor of Biodex products in the Midwest United States and a further $209,171 of intercompany debt will be reduced.
纽约,2024年1月31日(环球新闻专线)——Evome Medical Technologies Inc.( “公司”)(多伦多证券交易所股票代码:EVMT)宣布,由于出售Arrowhead Medical,已将收购银行的债务减少了535,093美元,有限责任公司(“Arrowhead”),最初于 2023 年 5 月收购(参见 2023 年 5 月 16 日的新闻稿)。作为调整的一部分,Arrowhead将继续作为Biodex产品在美国中西部的独家分销商,并将再减少209,171美元的公司间债务。
The Company continues to look to make improvements to its balance sheet as it focuses on revenue and profit growth as it prepares to launch two new products in 2024, the SpaceTek Knee, an isokinetic device co-developed with NASA, and the Reactive Step Trainer, a device designed to improve balance and reduce tripping and falling with primarily elderly patients.
该公司继续寻求改善资产负债表,专注于收入和利润增长,准备在2024年推出两款新产品:SpaceTek Knee,这是一款与美国宇航局共同开发的等速设备,以及旨在改善平衡、减少主要是老年患者的绊倒和跌倒的设备Reactive Step Trainer。
As part of the new product roll out, which is targeted to increase the market for Biodex products, Mr. Carmine Tronolone has been promoted to General Manager of Biodex Production in Long Island, New York; Mr. Bill Hauer has been recently appointed Vice President of Marketing and Sales, and Cherine Pottinger-Harris will serve as Controller and Director of Finance for Biodex, and Natalia Vakhitova has retired as CFO.
作为旨在扩大Biodex产品市场的新产品推出的一部分,Carmine Tronolone先生已被提升为纽约长岛Biodex生产总经理;比尔·豪尔先生最近被任命为营销和销售副总裁,谢琳·波廷格-哈里斯将担任Biodex的财务总监兼财务总监,纳塔利娅·瓦希托娃已退休首席财务官。
"We had a great relaunch of the new Evome at the AlphaNorth Capital event in the Bahamas last week for investors," said Mike Seckler, CEO. "It was a unique opportunity to highlight our new product strategy, which increases our addressable market significantly, as well as our plan to grow a profitable company with a new set of investors. We are moving from a low margin contract manufacturing business to a higher gross margin medical device business, and I am looking forward to building on our solid turn around at end of 2023 with a strong year in 2024."
首席执行官迈克·塞克勒表示:“上周在巴哈马举行的AlphaNorth Capital活动上,我们为投资者精彩地重启了新的Evome。”“这是一个难得的机会,可以重点介绍我们的新产品战略,这极大地增加了我们的潜在市场,以及我们利用新投资者发展一家盈利公司的计划。我们正在从低利润的合同制造业务转向毛利率更高的医疗器械业务,我期待在2023年底的稳健转机基础上再接再厉,在2024年迎来强劲的一年。”
Pursuant to an LLC Membership Interest Purchase Agreement dated January 15, 2024, the original vendor (the "Vendor") of Arrowhead has agreed to acquire, and the Company, indirectly through a subsidiary, has agreed to sell, all of the issued and outstanding LLC membership equity interests of Arrowhead, in consideration for (i) the Vendor making a cash payment to the Company of $209,171 (ii) the Vendor returning to the Company for cancellation the 1,000,000 Class "A" non-voting common shares of the Company which were issued by the Company to the Vendor on May 16, 2023, and (iii) the termination of the obligation to issue earn-out payment shares to the Vendor pursuant to the original Stock Purchase Agreement dated May 16, 2023. At the time of the sale Arrowhead had $535,093 of debt and $209,171 of cash, and it represented 2.5% of the Company's revenue and had no impact on the Company's net income for its most recently reported quarter.
根据2024年1月15日签订的有限责任公司会员权益购买协议,Arrowhead的原供应商(“供应商”)已同意收购Arrowhead的所有已发行和未偿还的有限责任公司会员权益interests,作为对价(i)卖方向公司支付209,171美元(ii)卖方返回公司申请取消的现金款项,indirectly 已同意出售那个公司于2023年5月16日向卖方发行的 公司1,000,000股 “A” 类无表决权普通股,以及(iii)终止根据2023年5月16日的original 股票购买协议向卖方发行收益支付股份的义务。 在出售时,Arrowhead有535,093美元的债务和209,171美元的现金,占公司收入的2.5%,对公司最近公布的季度的净收入没有影响。
The Company also announces that it has granted an aggregate of 460,000 stock options to Mr. Tronolone, Mr. Hauer and Ms. Pottinger-Harris at an exercise price equal to the closing price of its common shares on the TSX Venture Exchange on the date hereof, vesting over three years and expiring between January 9, 2029 and January 31, 2029.
该公司还宣布,已向特罗诺隆先生、豪尔先生和波廷格-哈里斯女士授予了总共46万份股票期权,其行使价等于截至本文发布之日多伦多证券交易所风险交易所普通股的收盘价,在三年内归属,将于2029年1月9日至2029年1月31日到期。
For more information please contact:
欲了解更多信息,请联系:
Mike Seckler
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@evomemedical.com
迈克·塞克勒
首席执行官
电话:1 (800) 760-6826
电子邮件:Info@evomemedical.com
Additional Information
附加信息
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.
多伦多证券交易所风险交易所及其监管服务提供商(该术语在the 多伦多证券交易所风险投资交易所的policies 中定义)均不对本release 的充分性或准确性承担责任。
Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian dollars.
除非另有说明,否则本新闻稿中的所有美元金额均以加拿大元dollars 表示。
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: the timing and number of products the Company intends to launch; the Company's plan to grow a profitable company with a new set of investors; the Company moving from a low margin contract manufacturing business to a higher gross margin medical device business; and the Company having a strong year in 2024. 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: the Company expecting increased demand for its products at increased prices and with additional distribution agreements to result in the growth of profits in 2024; the Company's attendance at investor conferences resulting in new investors; and the Company expecting to improve its product mix by increasing sales of high-margin products compared to its lower margin manufacturing sales. 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.
本新闻稿中包含的某些陈述构成meaning ofthe《私人证券诉讼改革法》和适用的加拿大证券laws 中的 “前瞻性信息”。这些陈述可以be 通过使用诸如 “期望” “相信”、“估计”、“可能”、“会”、 “可以” 等前瞻性术语来识别, “应该”、“潜在”、 “会”、“寻找”、“打算”、 “计划” 和 “预测”,以及与relateto 公司类似的表述,包括:公司打算推出产品的时间和数量启动;公司计划通过新的投资者发展一家盈利的公司;公司从低利润合同制造业务转向毛利率更高的医疗器械业务;公司在2024年表现强劲。除historical 事实陈述外,所有statementsother 都可能是前瞻性的 信息。这样statementsreflect 公司目前对未来events 的看法和意图,以及current 信息availableto 公司,并面临某些风险,uncertainties 和assumptions,包括:公司预计,随着价格上涨,对其产品的需求将增加,并将达成额外的分销协议,从而在2024年实现利润增长;公司出席投资者会议吸引了新的投资者;以及公司预计通过增加高利润产品的销售来改善其产品组合,而利润率较低制造业销售。该公司警告说,包含herein 的the 前瞻性陈述受重要factors 的限定,这可能会导致actual 业绩与such 陈述所反映的结果存在重大差异。这些因素include 但是are 不限于general 业务和economicconditionsregions inwhich the Companyoperates;公司执行密钥的能力priorities,includingsuccessful 完成ofacquisitions、业务 留存和 战略计划和吸引、发展and 留住关键executives;困难integrating 新收购的企业;ongoing 或者供应出现新的中断chain,extent 和such 供应链中断的范围,以及解决问题的时机或程度or 改善such 中断;ability 到 实施业务战略并根据公司信息开展业务opportunities;disruptions in 或attacks(包括cyber-attacks)technology、互联网、网络接入或其他voiceor datacommunications 系统或服务;各类欺诈或其他行为的evolutioncriminal 对whichthe 公司的行为是风险的;failure 需要遵守其义务 公司或其affiliates; 对现行法律法规的变更或适用的影响;newgranting of 许可证and 许可证in 一家监管严格的企业;overall 很难litigation 环境,包括美国States;竞争加剧;外币汇率变化;increasedfundingcosts 还有市场volatility 到期to 市场流动性不足和资金竞争;availability 资金andresources 用于开展业务;criticalaccounting 会计准则的估计和变更、policies、 和公司使用的方法;theoccurrence 既自然又不自然 灾难性eventsand 声称resulting 来自此类事件;以及thoserisk 讨论的因素或referred 到intheCompany 的披露documents 向美国Securities 和Exchange 委员会提交andavailable 位于www .sec.gov,还有the 证券监管机构in 肯定有provinces 的Canada 和available 在。在unexpectedmanner 中,是否有任何factor 会影响公司,还是assumptions 标的the 前瞻性information 证明不正确,实际的results 或events 可能与or 事件预测的结果materially 有所不同。Any 如此具有前瞻性informationisexpressly 根据这份警示符在其entirety 中获得资格statement。此外,the Companydoes 不要假设responsibility 的准确性或completenessforwardinformation。The 前瞻性information 包含在本新闻稿中is 截至本报的daterelease 而且公司承诺no 有义务公开更新或修改any forward-lookinginformation,other 超出了适用的law 的要求。