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October 1, 2018 4:05 PM
TransEnterix Provides Corporate Update
Announces four Senhance system sales in third quarter of 2018
Preliminary unaudited revenue of approximately $5.4 million for the third quarter of 2018
Preliminary unaudited cash and cash equivalents of approximately $82 million as of September 30, 2018
Announced entry into acquisition agreement for technology assets and IP of MST Medical Surgery Technologies
Received CE Mark for Senhance Ultrasonic Instrument System
RESEARCH TRIANGLE PARK, N.C.(BUSINESS WIRE) TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between surgeons and patients to improve minimally invasive surgery, today provided a corporate update, including preliminary unaudited revenue for the third quarter ended September 30, 2018.
We made significant progress during the third quarter, including the continued adoption of Senhance, driven by the advancement of our sales and marketing strategy, the announcement of the MST acquisition agreement and the expansion of our instrument portfolio, said Todd M. Pope, President and CEO at TransEnterix. As we look towards the remainder of 2018 and into 2019, we are focused on increasing the applicability of Senhance to more patients, surgeons, and hospitals and growing on a global basis.
Third Quarter 2018 Revenue Outlook
For the third quarter ended September 30, 2018, the Company expects to report revenue of approximately $5.4 million. This revenue is primarily driven by the sale of four Senhance systems, as follows:
In the US, UPMC purchased a Senhance Surgical System to be utilized at its Magee-Womens Hospital in Pittsburgh. Magee combines a wealth of specialty services with a focus on gynecologic and obstetric services. UPMC is a $19 billion world-renowned health care provider and insurer, which is focused on new models of accountable, cost-effective, and patient-centered care.
In EMEA (Europe, Middle East, Africa), three systems were sold:
A system was sold to Maxima Medical Center, in Veldhoven, the Netherlands, which is a member of a cooperative association of the 20 largest Dutch teaching hospitals that work together in areas of education and quality control, to guarantee the best level of healthcare.
The following information was filed by Transenterix Inc. (TRXC) on Tuesday, October 2, 2018 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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