Australia-based Nanosonics has announced that it has entered into a new capital reseller deal with GE Healthcare to go into effect when the present distribution arrangement ends.

The deal is for three years and is set to start July 1, 2019, the company said in a statement.

It gives GE customers ongoing access to trophon, an ultrasound probe disinfection system, through GE's North American ultrasound sales channel.
The two companies have also introduced “a framework” to assess new opportunities as they develop.

“The trophon technology is clearly well advanced in establishing itself as standard of care in North America,” said president & CEO Michael Kavanagh. “This is a great testimony not only to the excellent value proposition of the technology but also the excellent support GE Healthcare has provided as a leader in ultrasound solutions over the last six years.

“We very much welcome the opportunity to continue our relationship with GE beyond the existing agreement as we continue to further establish trophon as standard of care not only in North America but across international markets,” he added.

The company began in 2001 and is headquartered in Sydney, Australia, according to its website.

Nanosonics shares jumped about 14 percent, according to the company site, when news of the deal hit.

The company was first listed on the Australian Securities Exchange in 2007.

Its trophon ultrasound transducer disinfecting system got clearance from the FDA in 2011 and is sold in the U.S., Canada and Europe.

Because the system reduces the time needed for disinfection, more patients can be scanned. It is situated in the same room as the ultrasound device, according to the company.

The company also issued its 2017 full year financial results. It had sales of $67.5 million, up 58 percent year-on-year from $42.8 million.

Operating profit before tax was $13.9 million, up from a year-ago $136,000. Free cash flow was $15.1 million, up from the year-ago $1.9 million. The company has cash reserves of $63 million.

In North America its installed base rose 42 percent, or up 3,700 units, to about 12,400 by the end of June. The global installed base is now above 14,100 units.

The 2017 financial year was a big boost for the firm. “Record sales and profit results were achieved, the installed base of trophon grew strongly and market fundamentals continued to strengthen internationally with the introduction of a new series of guidelines,” said Kavanagh.

Back to HCB News

Business Affairs Homepage