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Latest News

Uscom Achieves First Cash Flow Positive Quarter

April 19th, 2017

Appendix 4C

Record cash receipts – $1.41M (up 41%)
Record cash receipts from customers – $0.91M (up 43%)
Cash flow positive – $0.22M
Cash on hand – $2.13M

Uscom has achieved its first ever cash flow positive quarter in another record period for the Company. The results in the attached Appendix 4C – Quarterly cash flow report for the consolidated entity for the period ended 31 March 2017 (the Quarter) are in Australian dollars.

Highlights

For the Quarter, we note the following:

  • Record total cash receipts for quarter $1.41M up 41% on 2016 Q3 (from $1.00M)
  • Record customer cash receipts $0.91M, up 43% on 2016 Q3 (from $0.64M)
  • Net cash flow +$0.22M (from -$0.06M in 2016 Q3)
  • Cash on hand $2.13M (from $1.00M in 2016 Q3)

The Uscom 4C results for the quarter demonstrate record total cash receipts of $1.41M, up 41% on the corresponding prior Q3 ($1.00M), and record customer cash receipts of $0.91M, up 43% on the prior Q3 ($0.64M). Cash flow for the period was +$0.22M, up from the 2016 Q3 of -$0.06M. Cash on hand at the end of the period was $2.13M, up from $1.00M reported in 2016 Q3. An additional $1.2M in options remains outstanding at an exercise price of 25c and exercisable by 31st July 2017. An R&D tax refund of $0.50M was received during the current period, while $0.37M was received in the 2016 Q3.

Uscom CEO Associate Professor Rob Phillips said, “Our first cash flow positive quarter is especially satisfying as it comes on top of four consecutive years of 40%+ CAGR revenue growth. While both revenue and costs will continue to be lumpy, our strategy remains firmly focused on long term sustained revenue growth, profitability and, ultimately, shareholder dividends. During the quarter we have been completing the BP+, BP+ Reporter, SpiroSonic and SpiroReporter devices (seven products in all), and finalising regulatory submissions for approvals for their sale in the main jurisdictions of China, Europe and the USA. Once the devices are approved then a number of one off costs will be replaced by revenue. The devices are now all in regulatory cycles in all regions and we look forward to receiving the revenue growth that will flow once the approvals are received and our new and established distributor channels are activated. It is these supplementary revenue streams which we expect to accelerate our current growth over the coming years. We have invested wisely in acquisitions and new product development, and we are now poised for continuing and accelerated revenue growth.”

Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases, including hypertension, heart failure, asthma, COPD and sleep disorders. The devices and technologies are integral for optimising management of sepsis and guidance of fluid, inotropes and vasoactive therapies in critical care monitoring, and in clinical and home care delivered asthma and COPD diagnosis and medication monitoring.

New Uscom Euro Grant for Pulmonary Research

April 3rd, 2017

“Incentive based smart spacer to promote pulmonary recovery training & drug uptake”

Uscom has announced the award of a second European scientific research grant to Uscom Europe based in Budapest. Uscom was a member of a consortium awarded 1,317,502 Euro (≈AU$1.86) over 2 years to develop a new smart spacer and software to promote pulmonary recovery training and drug uptake under the Eurostars programme. The total value of the project is 1,317,502 Euro (AU$1.86) and Uscom will receive 349,480k Euro (≈AU$492k) over the next 2 years ($246k AUD pa).

Key Points

  • Chronic respiratory diseases are common and increasing worldwide
  • Appropriate choice and delivery of medication can significantly improve outcomes
  •  “spacers” improve efficiency and delivery of inhaled medication
  • Uscom SpiroSonic devices deliver research quality pulmonary assessment to the clinic and home care and are world leaders in pulmonary monitoring and therapeutic guidance technologies
  • Uscom Europe was awarded a Eurostar grant of AU$492k over 2 years to research and develop (R&D) new devices to promote improved patient treatment, compliance and improved drug delivery
  • Eurostars is a joint programme between EUREKA and the European Commission, co-funded from the national budgets of 36 Participating States and Partner Countries and by the European Union. In the 2014-2020 period it has a total public budget of €1.14 billion
  • Eurostars supports the development of rapidly marketable innovative products, processes and services that help improve the daily lives of people around the world

The project is titled “Incentive based smart spacer to promote pulmonary recovery training & drug uptake” (NEMZ_16-1-2017-0001) and focuses on the development of a new medical device that increases the efficiency of drug delivery from inhalation dispensers, supported by software to re-inforce the appropriate on going use of medication. Uscom’s advanced digital multi-path ultrasonic technology is already being adopted among cloud based telemetric pulmonary monitoring companies in the USA, while the sophisticated SpiroReporter archiving and analysis software which can be installed on smart phones, tablets, computers or the cloud provides opportunities to combine complex pulmonary function measurements with a remote digital monitoring platform.

While many new companies are marketing simple inhaler trackers connected to an app or software, the SpiroSonic tSpiro solution provides comprehensive pulmonary function monitoring of patients in their own home, with full cloud based telemetric analysis, diagnosis and management which generates “big data” for population disease profiling. Uscom’s contribution to this project is derived from experience in researching, developing and manufacturing world leading digital ultrasonic spirometers and digital respiratory monitoring technologies.

Executive Chairman of Uscom, Associate Professor Rob Phillips said, “Hundreds of millions of people around the world suffer from preventable chronic respiratory diseases, and this research funding focuses on solving a clinical problem that results in hundreds of thousands of deaths per year. This grant is recognition that Uscom has a global reputation for R&D and manufacturing of innovative cardiovascular and pulmonary monitoring devices, and the development of clinical solutions to drive improved global pulmonary care.”

Background:

  • COPD – Effects more than 210m people (4-20% in over 40s) and increasing
  • In the US a patient dies from COPD every four minutes. It’s the fourth leading cause of death, with 24 million people estimated to have the disease and 12 million of those undiagnosed
  • Asthma – Effects 250-350million people worldwide, with prevalence varying from 1-18% (Aus 15%), with approximately 250,000 to 345,000 attributable deaths per year
  • Sleep apnea (a chronic respiratory disease) – Occurs in 10-24% of all adults with 2-4% being symptomatic, and is associated with a 4 times increased rate of mortality, and a 10 fold increased risk of motor vehicle and occupational accidents

The Eurostars programme is a joint programme by Eureka and the European Commission which is co-funded from the national budgets or 36 participating states and countries. The Hungarian National Research, Development and Innovation Office as part of the European Research Organisation administers the grant.

The entire grant project is a collaboration of Uscom Europe with a group of Dutch pulmonary specialists at Stichting Gelre Ziekenhuizen and SilverFit B.V. (The Dutch Foundation for the Elderly), and is planned to produce Uscom owned IP and products. This grant is in addition to the prior Hungarian grant of $427K AUD announced – Nov 28th 2016.

Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases, including hypertension, heart failure, asthma, COPD and sleep disorders. The devices and technologies are integral for optimising management of sepsis and guidance of fluid, inotropes and vasoactive therapies in critical care monitoring, and in clinical and home care delivered asthma and COPD diagnosis and medication monitoring.

References:

  1. https://ec.europa.eu/growth/tools-databases/regional-innovation-monitor/organisation/national-research-development-and-innovation-office.
  2. https://www.eurostars-eureka.eu/about-eurostars
  3. https://www.gelreziekenhuizen.nl/Gelreziekenhuizen
  4. http://silverfit.com/en/
  5. http://www.who.int/respiratory/copd/en/
  6. http://www.uscom.com.au/news/news.php?year=2016

New USCOM Evidence for Pre-eclampsia

March 30th, 2017

New evidence supports USCOM 1A screening and improved outcomes during pregnancy

Uscom has announced the publication of two new peer reviewed papers confirming the effectiveness of USCOM 1A for diagnosing pre-eclampsia and guiding hypertensive therapy in pregnancy. The publications were in the prestigious Ultrasound in Obstetrics and Gynaecology and authored by obstetrics and gynaecology specialists and researchers from the University of Rome, Rome, the Policlinico, Rome, and the St George’s Hospital, London.

Key Points

  • Pre-eclampsia, or high blood pressure in pregnancy, is a common complication which increases mortality and morbidity for pregnant mothers and their unborn babies
  • An estimated 10million pregnant women develop pre-eclampsia every year, and early detection and appropriate treatment improves outcomes for mothers and babies
  • Pre-eclampsia is responsible for approximately 76,000 maternal and 500,000 foetal and neonatal deaths each year (more than 200 and 1300 per day respectively) – (World Health Organization)
  • The 1st study demonstrates that USCOM 1A measured abnormal maternal circulation is associated with an 8-10 fold increase in risk of complications at delivery
  • The 2nd study demonstrates that intrauterine foetal growth restriction (IUGR) and its maternal and foetal complications can be improved by USCOM 1A guided treatment of maternal circulation

Professor Valensise and his team from the Department of Obstetrics and Gynaecology at the University of Rome Tor Vergata and Professor Khalil and her group at St George’s Hospital London have been using and researching the USCOM 1A in pregnancy for pre-eclampsia for over 3 years.

Executive Chairman of Uscom, Associate Professor Rob Phillips said, “Science is value for Uscom shareholders and this science provides us with a new revenue platform as our business continues rapid growth of the back of important scientific achievement. These data demonstrate that the use of USCOM in pregnancy can improve maternal and foetal outcomes in pregnancy, and support USCOM 1A use as a routine screening monitor of maternal hemodynamics, from the initial examination up to, and during, delivery and should be considered as a standard of care for monitoring pregnancy.”


Maternal health is an emerging USCOM 1A application with a number of leading centres globally researching pre-eclampsia using the USCOM 1A. These publications will support USCOM 1A adoption in this field and contribute to further growth of USCOM 1A revenues.

Study details
The first study, “Maternal cardiac output in early labour: a possible link with obstetrics risks?“, demonstrates that USCOM 1A measured changes in maternal circulation are associated with an 8-10 fold increased risk of maternal and foetal distress and maternal complications in otherwise low risk pregnant women. The study concluded that “(USCOM measures) can be used not only as a screening tool in the early identification of patients at high risk of hypertensive complications, but also in the evaluation of pregnancy at term in the absence of known risk factors,”

In the second study, “Nitric oxide (NO) donors and haemodynamic changes in fetal growth restriction”, 26 pregnant females with diagnosis of intrauterine growth restriction (IUGR) with 30 week gestational age foetuses, were enrolled. Their hemodynamics were monitored with USCOM 1A during treatment with transdermal nitric oxide donors (glycerine trinitrate). Nitric oxide acts on the placental to dilate the placental vessels and ensure adequate perfusion and oxygen supply to the growing foetus to ensure optimal development. The hemodynamics from these patients were then compared to an untreated, case matched, 26 patient cohort. The mothers with IUGR and NO donor treatment had significantly improved USCOM measured maternal hemodynamics, and had babies with significantly increased birth weight. The study concluded “……our results might open new perspectives in the treatment of fetal growth restriction, focusing on main maternal cardiovascular anomalies.”

References

  1. Valensise H, Tiralongo GM, Pisani D, Farsetti D, LoPresti D, Gagliardi G, Basile RM, Novelii GP, Vasapollo B. Maternal cardiac output in early labour: a possible link with obstetrics risks? Ultrasound Obstet Gynecol 2017 Mar 10. doi: 10.1002/uog.17447
  2. Tiralongo, G., Pisani, I., Vasapollo, B., Khalil, A., Thilaganathan, B. and Valensise, H. Nitric oxide (NO) donors and haemodynamic changes in fetal growth restriction. Ultrasound Obstet Gynecol 2017 doi:10.1002/uog.17454
  3. Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases, including hypertension, heart failure, asthma, COPD and sleep disorders. The products are integral for optimising management of sepsis and guidance of fluid, inotropes and vasoactive therapies in critical care monitoring, and in clinical and home care delivered asthma and COPD medications.