This order follows the Company’s recent announcement that it expects to report, based on preliminary results, positive Adjusted EBITDA (defined below) and net income for its third quarter ending
The new management team has made international sales a part of its focus to drive organic growth leveraging the Biodex brand name and unique technology offering around isokinetic dynamometers.
The Biodex System 4 machine has established itself as the dominant player in the isokinetic physical therapy market, having been utilized in over 2,000 research trials1. The Biodex System 4 is known for its unmatched performance, accuracy, and safety, making it highly reliable for both clinicians and researchers due to its excellent correlation coefficients in terms of reliability, accuracy, validity, and repeatability2,3,4. It is the leading product among universities, hospitals, and researchers worldwide, surpassing all other isokinetic machines in terms of adoption and usage.
The Company recently announced a reformulated business plan along with its intention to change its name to “Evome Medical Technologies Inc.”. The plan is straight forward and solves the biggest needs in the recovery science market: Next generation solutions for physical therapy and chiropractic clinic customers using (1) connectivity, (2) portability, and (3) artificial intelligence (AI) to increase the amount of patients a physical therapist can treat in a given hour - improving profitability, patient care and therapist morale.
The solutions include both products, such as Biodex and Mio-Guard currently in the portfolio, as well as a new focus on services, all designed to improve the business performance for physical therapy clinics, chiropractic businesses and athletic departments globally.
The new management team plans to debut the new line of next generation products and services in the coming weeks culminating with a new investor website and presentation for investor meetings targeted to launch
“I am pleased to see our efforts to drive international sales are paying off in a big way this quarter,” said CEO
Full financial results from the third quarter ending
For more information please contact:
Chief Executive Officer
Tel: 1 (800) 760-6826
Email: Info@Salonaglobal.com
Non-GAAP Measures
This press release refers to "Adjusted EBITDA" which is a non-GAAP and non-IFRS financial measure that does not have a standardized meaning prescribed by GAAP or IFRS. The Company’s presentation of this financial measure may not be comparable to similarly titled measures used by other companies. This non-GAAP financial measure assists the Company’s management in comparing its operating performance over time because certain items may obscure underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete acquisition plans that are fundamentally different from the ongoing operating plans of the Company. The Company’s management also believes that presenting this measure allows investors to view the Company’s performance using the same measures that the Company uses in evaluating its financial and business performance and trends.
“Adjusted EBITDA” is defined as net loss excluding interest expense, provision for income taxes, depreciation of property and equipment, amortization of right-of-use asset, amortization of intangible asset, foreign exchange (loss) gain, other income, provision for impairment, change in fair value of contingent consideration, transaction costs, and stock-based compensation.
Preliminary Financial Metrics
This press release contains certain pre-released third quarter financial metrics. The third quarter financial metrics contained in this press release are preliminary and represent the most current information available to the Company's management, as financial closing procedures for the third quarter ended
Additional Information
Unless otherwise specified, all dollar amounts in this press release are expressed in Canadian dollars.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this press release constitute "forward-looking information" within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as “expects” “believes”, “estimates”, "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", and "anticipate", and similar expressions as they relate to the Company, including: the proposed name change; the Company’s new direction and its expectations of the results of its new direction; the Company expecting to generate positive Adjusted EBITDA and net income for its third quarter ending
All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions, including: the Company receiving the necessary approvals to change its name; the Company generating profits based on cost cutting activities during Q3 2023, and adjusted pricing already agreed to with certain contract manufacturing customers being reflected in the financial statements for the third quarter ending
- biodex isokinetic bibliography" -
Google Scholar - Frontiers | Reliability of Isokinetic Strength Assessments of Knee and Hip Using the Biodex System 4 Dynamometer and Associations With Functional Strength in Healthy Children (frontiersin.org)
- Test–Retest Reliability of Biodex System 4 Pro for Isometric Ankle-Eversion and -Inversion Measurement in:
Journal of Sport Rehabilitation Volume 22 Issue 3 (2013) (humankinetics.com) - https://www.mdpi.com/2409-9279/6/2/26
Source:
2023 GlobeNewswire, Inc., source