ImpediMed books strong growth for SOZO device

Brisbane medical software and hardware group ImpediMed (ASX:IPD) recorded total revenue for the second quarter of the financial year of $1.5 million, up 63 per cent on the previous corresponding period.

The company is on track to achieve full year sales of more than $7 million, according to a market update.

The company’s devices and apps non-invasively measure, monitor and manage fluid status and tissue composition using a process of bioimpedance spectroscopy (BIS).

Its family of SOZO medical devices (pictured) monitor multiple indications including heart failure and lymphoedema.

During the quarter 37 new SOZO devices were contracted, eight renewal licences were signed, and annual recurring revenues from services reached $4.2 million.

ImpediMed’s core component is a physical medical device with hand and foot plates (SOZOtouch and SOZOstep), typically attached to a pedestal and controlled with an Android tablet pre-installed with the SOZOapp.

All user accounts, patient records, measurement data, and other calculated measures and trends are stored in the proprietary and secure MySOZO cloud.

During the latest quarter 20,000 tests were conducted on 90,000 patients using its devices, an increase of 15 per cent.

Picture: Impedimed

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