Full Press Release Details
SANUWAVE HEALTH REPORTS STRONG THIRD QUARTER REVENUE
Product Revenue Increase of 99% for 9 months
Initial US Treatments Have Begun
SUWANEE, GA, November 15, 2018 SANUWAVE Health, Inc.
report financial results for the three
months ended September 30, 2018 with the SEC in the near future and
will provide a business update on a conference call Thursday,
November 15, 2018 at 10:00 a.m. Eastern
Highlights of the third quarter and recent weeks:
revenue for the third quarter of 2018 was approximately $260,000,
up 67% from the third quarter of 2017. Product revenue for the nine
month period was up 99% from the nine month period in
US treatments started in the third quarter.
Holistic Wellness Alliance PTE. LTD has been
incorporated in Singapore with Johnfk Medical Inc. ( FKS ) for
the manufacture, sale and distribution of the Company's
covering 11 countries in Southeast Asia.
quarter medical conference attendance activity: attended 9 major
medical shows with resounding success.
Social media launch by Premier Shockwave Wound
Care targeting dermaPACE for VA, Military and I.H.S.
We began the year with the following stated goals for 2019:
revenue growth through the year, establish partners in specific
channels, establish partners to help finance growth in medical
equipment placement, hire senior management to lead the wound care
team, add new countries to our distribution platform, and
prepare and be ready to scale once our reimbursement tracking codes
are in effect. Through the third quarter we are on track
to achieve and exceed these goals. Our revenue came from
planting the seeds for success in prior quarters and fortunately,
we have been planting more seeds so we feel confident we
will continue to see this growth continue. What is most
exciting is the wound industry buzz around the dermaPACE
product. Having attended 9 trade shows in the past few
months, it is clear that we are becoming one of the hot
new products in the wound care space. This has the added
benefit of attracting talented industry professionals who want to
be part of SANUWAVE as we enter this explosive growth
phase. We have much work to do,but are proud of the
accomplishments achieved year to date and feel confident in
our growth plans for the remainder of this year and entering
Third Quarter Financial Results
will file its 10Q once the company completes it's FASB 606
revenue recognition analysis. In regards to our exclusivity
licensing agreement with FKS dated June 14, 2018, details of which
have been previously disclosed, for which proceeds were received in
June 2018. The exclusivity period was for five months. In the
second quarter, the Company recognized this revenue ratably over
the period of the agreement. The Joint Venture (JV) was signed, and
Hollistic Wellness was incorporated in Singapore last week. Once
the Company completes its analysis of license revenue for Q3, 2018
we will file the 10Q and host another conference call to answer any
questions related to the 10Q.
The Company will host a conference call on Thursday, November 15,
2018, beginning at 10AM Eastern Time to discuss the third quarter
financial results, provide a business update and answer
Shareholders and other interested parties can participate in the
conference call by dialing 877-407-8033 (U.S.) or 201-689-8033
(international) or via webcast at http://www.investorcalendar.com/event/41007.
A replay of the conference call will be available beginning two
hours after its completion through November 29, 2018, by dialing
877-481-4010 (U.S.) or 919-882-2331 and entering PIN #41007 and a
replay of the webcast will be available at http://www.investorcalendar.com/event/41007
About SANUWAVE Health, Inc.
Health, Inc. (www.sanuwave.com) is a shock wave technology company
initially focused on the development and commercialization of
patented noninvasive, biological response activating devices for
the repair and regeneration of skin, musculoskeletal tissue and
vascular structures. SANUWAVE's portfolio of regenerative
medicine products and product candidates activate biologic
signaling and angiogenic responses, producing new vascularization
and microcirculatory improvement, which helps restore the
body's normal healing processes and regeneration. SANUWAVE
applies its patented PACE technology in
wound healing, orthopedic/spine, plastic/cosmetic and cardiac
conditions. Its lead product candidate for the global wound care
market, dermaPACE , received US
FDA clearance in December 2017 for the treatment of Diabetic Foot
Ulcers. dermaPACE is the only Extracorporeal Shockwave Technology
(ESWT) device cleared or approved in the US for the treatment of
DFUs. Internationally, dermaPACE is CE Marked throughout Europe and
has device license approval for the treatment of the skin and
subcutaneous soft tissue in Canada, Australia and New Zealand, and
South Korea. SANUWAVE researches, designs, manufactures, markets
and services its products worldwide, and believes it has
demonstrated that its technology is safe and effective in
stimulating healing in chronic conditions of the foot (plantar
fasciitis) and the elbow (lateral epicondylitis) through its U.S.
Class III PMA approved OssaTron device, as well
as stimulating bone and chronic tendonitis regeneration in the
musculoskeletal environment through the utilization of its
OssaTron, Evotron and
orthoPACE devices in
Europe, Asia and Asia/Pacific. In addition, there are
license/partnership opportunities for SANUWAVE's shock wave
technology for non-medical uses, including energy, water, food and
Forward-Looking Statements
This press release may contain forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995, such as statements relating to