CardieX announces record sales growth for 1Q2020
SYDNEY: CardieX Limited announced that its medical device division, ATCOR, has reported the highest sales growth in 5 years for the first quarter of the 2020 financial year.
Total sales for Q1, 2020 increased 88% over the previous financial year first quarter and are the highest sales number for the period in the last 5 years. Overall, sales growth for the Company’s flagship XCEL medical device was up 88% or $430K, exceeding a total of $900k for Q1.
Commenting on the results for the quarter CEO, Craig Cooper stated: “As we continue to roll out new pricing, sales, lead generation, and marketing campaigns we are starting to see the results of these efforts in our monthly growth and revenues. This is a great start to the first quarter and we look forward on building on these revenues throughout the year as part of our plan to return the ATCOR medical device division to profitability this year. It’s a testament to the whole team as we execute against our new growth strategy for the year”.
CardieX is a global health technology company that develops digital and device based solutions for large-scale population health disorders.
CardieX also has a joint venture partnership with Blumio, Inc in Silicon Valley for the development of a radar-based blood pressure sensor incorporating CardieX technology. In November 2018 CardieX entered into an agreement with in Health Medical, Inc allowing CardieX to acquire up to 50.5% of inHealth by way of a convertible note.
In September, 2019 the Company signed an agreement with Mobvoi, Googles in country partner in China, for the co-development of new wearable technologies and devices based on Mobvoi’s smart watch products.