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Sensus Healthcare Reports First Quarter 2019 Financial Results
|·||Premier, Inc. adds SRT to its group purchasing contracts|
|·||Ships second Sculptura™ system to Rabin Medical Center in Israel|
|·||Reaffirms expectations for double-digit full-year revenue growth|
|·||Conference call begins at 4:30 p.m. Eastern time today|
BOCA RATON, Fla. (May 9, 2019) – Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive treatments for both oncological and non-oncological conditions, announces financial results for the three months ended March 31, 2019.
Highlights from the first quarter of 2019 and recent weeks include:
|·||Premier, Inc. added superficial radiation therapy (SRT) to its group purchasing contracts with a network of approximately 4,000 member hospitals and health systems across the U.S., effective August 1|
|·||U.S. Food and Drug Administration (FDA) cleared Sculptura™, the company’s Modulated Intra Operative Radiation Therapy (M-IORT) system|
|·||Sold a Sculptura system to the Rabin Medical Center in Israel|
|·||Signed a Sculptura research and development agreement with the Perelman School of Medicine at the University of Pennsylvania|
|·||Signed a new lease in Israel to increase manufacturing capacity|
|·||Appointed Ziv Karni, Ph.D. as Chief Scientific Officer for Laser Systems|
|·||Announced results from a five-year retrospective study with SRT for non-melanoma skin cancer showing a cure rate of 98.9%, which exceeds the Mohs surgery cure rate|
|·||Shipped 18 systems during the quarter, including eight SRT-100 Vision systems|
|·||Worldwide installed base surpassed 400 systems, with more than 100 being used to treat keloids|
|·||Reported revenues of $5.4 million, compared with $6.0 million for the first quarter of 2018|
|·||Ended the quarter with $11.0 million in cash and investments; after the close of the quarter, $5.5 million of accounts receivable were collected|
“The first quarter and recent weeks were highlighted by Sculptura FDA clearance and selling our second Sculptura system to Rabin Medical Center, a renowned institution in Israel focused on researching the latest technologies,” said Joe Sardano, Chairman and Chief Executive Officer. “This sale, along with the Q4 2018 sale to the Perelman School of Medicine at the University of Pennsylvania and our subsequent research and development agreement, is expected to provide important data for a variety of indications. We are very encouraged by these purchases from such prestigious institutions and are gratified they view Sculptura as an important advancement in cancer treatment. We have staffed up our oncology sales team, which now numbers seven people, in anticipation of a measured sales ramp through the year for this innovative product.”
The following information was filed by Sensus Healthcare, Inc. (SRTS) on Thursday, May 9, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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