Some medical associations are backing from Outcome Health

A businessman swings a sledgehammer at a land bridge connecting two cliffs as he tries to chip away at the metaphorical agreement represented by the bridge formed in the shape of a handshake.

The thought that Outcome Health employees provided misleading advertising and gratifaction data to customers has motivated a suit by investors and today some medical societies that made handles the organization are backing from the organization.

Outcome Health supplies healthcare-related educational happy to TV screens in physician practices’ offices. Its business design depends on advertisements around that content from companies for example pharma companies.

The Ama, American Epilepsy Society and CancerCare, a nationwide organization that supports individuals identified as having cancer, are gone for good contracts to supply content, according to Fierce Healthcare.

A United States Heart Association stated the business doesn’t have intends to renew its collaboration using the group, that is scheduled to finish December 1.

Others, such as National Infusion Center Association, Harvard Health Publishing and also the American Academy of Skin care, are reviewing their agreements,  Fierce Healthcare reported.

AMA’s agreement revolved around an airplane pilot program to boost awareness for prediabetes in screens and tablets in 1,000 physician offices in four states. Even though it had led to October, the program ended up being to continue running the information free of charge. But AMA told Fierce Healthcare the unfavorable media reports on Outcome Health spurred the audience to request AMA content be removed immediately.

Because of its part, a result Health spokesman stated within an email that “the vast majority” of content providers ongoing to utilize the company also it was trying to increase the.

Outcome Health is constantly on the partner using more than 100 medical associations and content partners to supply best-in-class health information which empowers patients and physicians to possess more significant conversations throughout the critical moments of care.  Make certain with medical offices and health systems across the nation to supply numerous tools including assessments, patient tales, 3D physiological models, recipes for a healthier lifestyle, treatments along with other educational happy to help deliver better health outcomes and change up the human condition positively through technology. We continue to increase our robust library of health content, the biggest available, and expand our partnerships with world-class overall health organizations.”

Photo: DNY59, Getty Images

Medgadget Visits Mediterranean in Ireland to look at Europe’s Medtech Hub

Ireland used to be an undesirable country. Agriculture was its primary output and Guinness its ambassador around the world. Everything has drastically altered within the last handful of decades, so much in fact that Ireland has become the quickest growing economy in Europe and among the hottest places for medical technology companies to work.

An emphasis on education, a good tax atmosphere, diligent people, along with a culture that prizes success have switched the Irish from sheep herders to technology innovators. Obviously Ireland still takes care of a substantial amount of farming and beer brewing, it does electronics manufacturing, technology talking to, so that as anybody within the medtech industry knows, it’s now among the world’s primary hubs of designing and building advanced medical devices. So far as figures go, Ireland hosts 250 medical technology companies, including 13 from the 15 world’s largest. They employ greater than 38,000 people, which makes it Europe’s greatest per/capita concentration, as well as in 2015 the sphere spent over €205 million ($240 million ) on development and research in Ireland.

Around the invitation and cent of Enterprise Ireland, a government organization accountable for the development of Irish business abroad, Medgadget visited Mediterranean in Ireland, a celebration held in the Royal Dublin Society. It is really an annual event which brings together medical companies and institutions from around the globe to network, partner, and explore business options with Irish firms innovating and offering services within the medtech sector.

Though merely a day lengthy, Mediterranean in Ireland is made to get differing people to possess quick, to-the-point conferences that cause purchases, partnerships, and business deals. The big event began served by opening remarks with a couple of noted loudspeakers, including Pat Breen, Minister of Condition for Trade, Employment, Business, EU Digital Single Market and knowledge Protection, adopted with a short on-stage discussion, all taking on around an hour. The Clinical Innovation Award 2018, a partnership between Enterprise Ireland and Cleveland Clinic, which aims to assist clinicians turn their ideas into healthcare solutions, seemed to be announced.

Following, everybody was asked to go to the dozens booths of firms that design, build, and consult for other medtech firms, browse the “Innovation Showcase” profiling interesting Irish companies, and more importantly take part in greater than 1,000 one-to-one conferences locked in a classic horse stable that belongs to the Royal Dublin Society.

Dads and moms following a conferences, most of the attendees go to the headquarters and manufacturing sites from the companies they are attempting to establish ties with. They get facility tours, talk with engineers and executives, and when everything goes well, put signatures in writing.

Being merely a day lengthy enables for follow-up on-site visits by investors, manufacturing leads, yet others which are thinking about investing and dealing with Irish companies. Within our experience, this can be a unique structure to have an event of the type, so we were surprised at the quantity of activity which was happening during Mediterranean in Ireland and dads and moms that adopted.

We required a vacation to Galway to go to BioInnovate Ireland, an instructional program that trains established professionals to recognize current clinical limitations and also to invent on their behalf commercially achievable solutions, which we’ll be covering within the future. Driving west across the nation from Dublin gives the look of the vastness interspersed with small villages and towns. Rock walls attaching herds of sheep and cows are apparently everywhere, but in this particular landscape you can come across a clinical device firm, because they have spread across the nation to benefit from an informed populace that’s prepared to strive, innovate, and succeed.

For example, on the visit to Galway, we had a clinical device manufacturing firm tucked between ancient rock walls and just steps in the rugged Irish western coast. A bed and breakfast and 2 dozen sheep could be expected somewhere like this, however this firm was thriving wherever it had been. Obviously you will find industry parks too, with names like Boston Scientific, Stryker, and Medtronic, that is now headquartered in Ireland, getting engineering and manufacturing facilities that people went by.

We met having a couple of from the firms at Mediterranean in Ireland which have developed unique and novel medical products, so that as noted above, visited Bioinnovate Ireland. Within the future we’ll be presenting you to definitely a few of these firms and also to the exciting method of condition solving being carried out at BioInnovate Ireland.

Meanwhile, here’s an adorable promo video from Enterprise Ireland summing up the benefits of conducting business in Ireland:

Link: Enterprise Ireland…

Please be aware: Enterprise Ireland, a company from the Irish government promoting business in the united states, backed the travel and accommodations with this report.

EV Hive: Largest Coworking Space in Southeast Asia Continues Rapid Indonesia Expansion, Targeting to 100 Locations Over the Region

JAKARTA, Indonesia, November. 19, 2017 /PRNewswire/ — EV Hive, Southeast Asia’s largest collaborative workspace, announces the closing from the merger with Clapham Collective (“Clapham”), a residential area workspace located in the centre of Medan, North Sumatra, Indonesia. Mr. Chris Angkasa, founding father of Clapham, may also join EV Hive’s Board of Advisors.

Incubated by East Ventures in 2015, EV Hive aims to function as a first class community hub for entrepreneurs and startups to begin and also be their business. Like a initial step of the wider EV Hive’s mix-city expansion throughout Indonesia, EV Hive will connect multi-city entrepreneurs, freelancers, in addition to medium and small enterprises (SMEs) by supplying community hubs in the third-most populous city in Indonesia. With this particular merger, Clapham’s people go for access immediately to EV Hive’s ecosystem, particularly to government physiques, investment capital investors and partners, in addition to skill-based occasions, workshops and versatile workspaces across the nation.

Chris Angkasa remarked, “Medan may be the third largest city in Indonesia along with a primary gateway to begin a company in Sumatra. Through this collaboration, we’ll match the vision of EV Hive’s founders to make use of co-working spaces like a platform to inspire mix-cultural exchange while strengthening business among the entrepreneurs in Jakarta and Medan.”

Following the new leadership team invested and became a member of EV Hive in May 2017, the organization increased 1,200%, achieving greater than 1,300 residential active people across 10 locations. It effectively strengthens EV Hive because the largest coworking space in Southeast Asia today. By Q1 2018, EV Hive will manage greater than 34,000 sqm of collaborative workspaces across 16 locations.

“It is always good to determine the strong pent-up need for coworking services and community platform, particularly from SMEs and startups within region. Like a community leader and angel investor, Chris is extremely well-considered, thus we’re excited to possess him as our consultant. Once we expand our footprint to 100 coworking locations region-wide, we continuously pursue any possible technique to work carefully with neighborhood partners, in addition to connect everybody within our ecosystem,” added Carlson Lau, Co-Founder and Chief executive officer of EV Hive.

About EV Hive:

EV HIVE is really a co-working space in Indonesia, offering understanding discussing and community building since it’s core value. Through occasions and workshops by our network of entrepreneurs and tech communities, we help local SMEs and startups boost their businesshttp://evhive.co/

About Clapham Collective:

Clapham Collective is really a co-working space for entrepreneurs and inventive community in Medan founded by Chris Angkasa. Clapham Collective redefines work to empower local company and inventive communities to satisfy true potentialhttps://clapham.spaces.nexudus.com/en/

Contact:

Carlson Lau
Ceo
Phone: +62-812-8999-1872
[email protected]

Devina Mahendriyani
PR & Digital Content Marketing Executive
WhatsApp: +62-822-6165-6506
[email protected]

View original quite happy with multimedia:http://world wide web.prnewswire.com/news-releases/ev-hive-largest-coworking-space-in-southeast-asia-continues-rapid-indonesia-expansion-targeting-to-100-locations-across-the-region-300559114.html

SOURCE PT Evi Asia Tenggara

Xeltis raises &euro45m financing to succeed aortic and lung valve programs

Printed 16 November 2017

Clinical-stage medical device company Xeltis has completed an oversubscribed €45m in series C financing to succeed its programs on aortic and lung valves.

The funding round was brought with a global proper investor with participation from investment capital fund Ysios Capital and numerous large eco-friendly. Existing institutional investors (LSP, Kurma Partners and Mire Partners) and investors also took part in the financial lending.

The Series C financing will support continuation of clinical activities and acceleration of product and market development for that company’s novel aortic and lung valve programs. This is actually the largest investment round for any private medical device company in Europe in 2017.

“Xeltis is raring to supply patients who require heart valve substitute with a brand new option offered through our restorative technology, to ultimately enhance their lives and lower healthcare system costs,” stated Xeltis Ceo (Chief executive officer) Laurent Grandidier. “This robust financing gives us the sources essential to catapult our strategy forward – supporting quick growth of our aortic and lung valve programs and strengthening our mission to redefine heart valve substitute therapy.”

Xeltis’ heart valves let the patient’s own body to naturally restore a brand new heart valve via a therapeutic approach known as Endogenous Tissue Restoration (ETR). With ETR, a person’s healing system develops tissue that pervades Xeltis’ heart valve, developing a brand new, natural and completely functional valve there. As ETR occurs, Xeltis implants are progressively absorbed through the body. ETR is enabled by bioabsorbable polymers according to Nobel Prize awarded science.

Ongoing Trial Programs 

At TCT 2017, Xeltis announced the most recent study is a result of the Xeltis preclinical aortic valve program throughout a session focused on its innovative technology. The 12-month preliminary aortic valve data demonstrated promising results with higher hemodynamic performance and completely functional valves in vivo 12 several weeks after implantation.

The very first practicality medical trial for Xeltis’ lung valve, Xplore-I, is going ahead in Asia and europe. In The month of january, the U.S. Fda (Food and drug administration) approved an Investigational Device Exemption (IDE) for Early Practicality Study (EFS) to implant Xeltis’ lung valve in 10 patients. Four prominent U.S. centers are actually taking part in the medical trial known as Xplore-II.

Formerly, Xeltis shared as much as 31-month data from the pediatric practicality study of the vascular graft. The research demonstrated positive functionality results without any device-related adverse occasions, and significant improvement in patients’ general conditions.

Xeltis is presently investigating additional applying its innovative method of restore other heart valves and bloodstream vessels.

Source: Company Pr Release

EBR Systems safeguards funding to conduct heart failure study

MDBR Staff Author Printed 15 November 2017

EBR Systems has guaranteed $50m funding to handle pivotal medical trial, that will measure the safety and effectiveness of wireless stimulation endocardially (WiSE) technology.

The funding round was brought by Australian private equity investors M.H. Carnegie & Co and Brandon Capital Partners. Other investors include Split Rock Partners, Ascension Ventures and Dr. Thomas Fogarty’s Emergent Medical Partners.

EBR will conduct stimulation from the left ventricle endocardially (SOLVE-CRT) study to judge the security and effectiveness of WiSE technology.

The information collected in the global heart failure trial will be employed to secure approval for that technology in the US Fda.

WiSE technologies are claimed is the only wireless and endocardial pacing system which will stimulate left ventricle from the heart.

We’ve got the technology will enable cardiac pacing having a novel cardiac implant, which is one of the size of a big grain of grain.

The firm is promoting the patented and advanced technology to avoid using cardiac pacing leads, which create more complications and result in reliability issues in cardiac rhythm disease management.

Individually, EBR has guaranteed CE mark approval because of its second-generation wireless transmitter, that is half how big the very first-generation transmitter

EBR Systems chairman and Chief executive officer Allan Will stated: “We are content to achieve the support of these a good syndicate of investors and expect to for sure showing the clinical effectiveness of wireless pacing in SOLVE-CRT.”


Image: EBR’s WiSE technology will eliminate the requirement for coronary sinus results in stimulate the left ventricle. Photo: thanks to Business Wire.

TSO3 Reports Record Third Quarter 2017 Results

QUEBEC CITY and MYRTLE BEACH, SC, November. 6, 2017 /PRNewswire/ – TSO3 Corporation. (TSX: TOS), a pacesetter in sterilization technology for medical devices in healthcare settings, reported financial recent results for its third fiscal quarter 2017 ended September 30, 2017.

Third Quarter 2017 Financial Summary

  • Revenue elevated to $5.a million, an 11% consecutive increase within the $4.six million recorded within the second quarter of 2017 along with a 46% increase within the $3.5 million recorded within the third quarter of 2016.  The Organization shipped 44 STERIZONE® VP4 Sterilizers to Getinge, its exclusive global distributor, within the third quarter of 2017. 
  • Gross profit was $2. million, or 39% of revenue, which compares gross profit of $1.7 million, or 38% of revenue, within the second quarter of 2017 along with a gross profit of $1.1 million, or 32% of revenue, within the third quarter of 2016.  Gross margin within the third quarter of 2017 could have been 43% after excluding the result of forex exchange rate fluctuation than the second quarter of 2017. 
  • Development and research (R&D) expenses increased to $1.six million, when compared with $1.5 million within the second quarter of 2017 and $.8 million around-ago quarter.
  • Sales, General and Administrative (SG&A) expenses were $2.a million, when compared with $2.4 million within the second quarter of 2017 and $1.8 million within the third quarter of 2016. 
  • The Business’s internet loss was $1.8 million or $(.02) per be part of the 3rd quarter of 2017 and comes even close to internet losses of $2.3 million or $(.02) per be part of the 2nd quarter of 2017 and $1.5 million, or $(.02) per share, within the third quarter of 2016.
  • The Organization had $16.a million in cash, cash equivalents and investments with no debt as at September 30, 2017, when compared with $16.seven million with no debt in the finish from the second quarter of 2017.

Management Commentary

“We’re happy with our financial leads to the 3rd quarter, and our training and support efforts still positively change up the rate where our distributor is winning start up business,Inch mentioned R. M. (Ric) Rumble, TSO3‘s President and Chief executive officer. “We’re searching toward an effective 4th quarter 2017 and monetary year 2018.  We’re continuing to move forward with plans for the new, greater capacity, US set up facility, so we keep having an optimistic dialogue around regulators regarding our application to help enhance our sterilizers’ states include duodenoscopes.

Q3-2017 Business Call

TSO3‘s President and Chief executive officer R.M. (Ric) Rumble and CFO Glen Kayll, will host the business call, adopted with a question and answer period. 

Date: Tuesday, November 7, 2017
Time: 8:30 a.m. Eastern Standard Time
Toll-free dial-in number: 1-888-231-8191
Worldwide dial-in number: 1-514-807-9895 (Montreal) 1-647-427-7450 (Toronto)
Conference ID: 1482596

Analysts and institutional investors are asked to sign up around the call. Please call the conference phone number 5-ten minutes before the start time. An operator will register your company name and organization. For those who have any issue connecting using the business call, please contact Gilmartin Group at 1-610-368-6505.  

Other your customers may pay attention to the live webcast from the business call at http://event.on24.com/r.htm?e=1528844&s=1&k=1F38C510E7E63BE8C2A79B736CDC2790 which is readily available for replay within the Investors portion of the Company’s website at world wide web.tso3.com.

Quarterly Consecutive Summary

 

$000’s

2016

2017

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Revenues

3,071

2,977

3,507

3,746

4,211

4,630

5,105

Price of sales

1,961

2,143

2,368

2,716

2,641

2,871

3,102

Gross Profit

1,110

834

1,139

1,030

1,570

1,759

2,003

Gross Margin

36%

28%

32%

28%

37%

38%

39%

Expenses

Development and research

606

803

806

1,297

1,353

1,539

1,562

Selling, general and administration

1,385

1,529

1,841

1,774

2,209

2,396

2,131

Financial expenses (earnings)

(1,588)

(50)

(21)

(39)

49

48

Internet Earnings (loss) before tax

707

(1,499)

(1,458)

(2,020)

(1,953)

(2,225)

(1,738)

Earnings taxes

58

(12)

15

48

27

29

33

Internet Earnings (loss)

649

(1,487)

(1,473)

(2,068)

(1,980)

(2,254)

(1,771)

Fundamental and diluted internet earnings (loss) per share

.01

(.02)

(.02)

(.02)

(.02)

(.02)

(.02)

Non-cash share based compensation

216

267

333

286

609

592

632

Cash, cash equivalents and investments

24,385

21,338

20,744

19,260

19,590

16,740

16,109

Review of Results

Periods ended September 30, 2017 and 2016 (Unaudited, IFRS Basis, in a large number of $ $ $ $, except per share amounts)

Third Quarter

Nine several weeks

2017

$

2016

$

2017

$

2016

$

Revenues

5,105

3,507

13,946

9,555

Price of sales

3,102

2,368

8,613

6,472

Gross profit

2,003

1,139

5,333

3,083

Expenses

Development and research

1,562

806

4,456

2,215

Selling, general and administrative

2,131

1,841

6,735

4,755

Financial expenses (earnings)

48

(50)

58

(1,637)

Internet loss before earnings taxes

(1,738)

(1,458)

(5,916)

(2,250)

Earnings taxes

33

15

89

62

Internet loss and total comprehensive loss

(1,771)

(1,473)

(6,005)

(2,312)

Fundamental and diluted internet loss per share

(.02)

(.02)

(.07)

(.03)

Consolidated Statements of monetary Position

(Unaudited in a large number of $ $ $ $)

September 30,

2017

$

December 31,

2016

$

Current Assets

Cash and funds Equivalents

7,642

2,698

Short-term Investments

8,467

15,064

A / R

613

2,318

Inventories

2,595

1,703

Prepaid Expenses

165

102

19,482

21,885

Non-current Assets

Lengthy-term Investments

1,498

Property, Plant and Equipment

2,944

2,357

Intangible Assets

1,885

1,836

4,829

5,691

24,311

27,576

Current Liabilities

Accounts Payable and Accrued Liabilities

2,664

2,272

Warranty Provision

1,103

575

Deferred Revenues

1,103

1,004

4,870

3,851

Non-current Liabilities

Deferred Tax Liabilities

198

109

Deferred Revenues

5,204

5,945

10,272

9,905

Equity

Share Capital

111,215

110,406

Reserve – Share-based Compensation

6,273

4,709

Deficit

(101,737)

(95,732)

Accrued Other Comprehensive Loss

(1,712)

(1,712)

14,039

17,671

24,311

27,576

Consolidated Statements of money Flows

By September 30, 2017 and 2016 (Unaudited, IFRS Basis, in a large number of $ $ $ $)

Nine several weeks

2017

$

2016

$

Cash flows from operating activities

Internet loss

(6,005)

(2,312)

Adjustments for:

Depreciation and amortization

715

328

Loss on write-lower of PP&E

39

Deferred tax liabilities

89

Share-based compensation

1,833

817

Investment earnings

(138)

(131)

(3,467)

(1,298)

Alterations in non-cash operating capital products

883

(3,134)

Interest received

127

95

Cash flows utilized in operating activities

(2,457)

(4,337)

Cash flows from investing activities

Purchase of investments

(2,909)

(22,917)

Disposal of investments

11,015

8,845

Purchase of property, plant and equipment

(1,057)

(635)

Purchase of intangible assets

(190)

(248)

Proceed from disposal of property, plant and equipment

2

Cash flows generated by investing activities

6,861

(14,955)

Cash flows from financing activities

Options worked out

540

672

Warrants worked out

10,145

Cash flows generated by financing activities

540

10,817

Increase (decrease) in cash and funds equivalents

4,944

(8,475)

Cash and funds equivalents at the start

2,698

12,654

Cash and funds equivalents in the finish

7,642

4,179

Concerning the STERIZONE® VP4 Sterilizer

The STERIZONE® VP4 Sterilizer is really a low-temperature sterilization system that employs the twin-sterilants of vaporized peroxide (H2O2) and ozone (O3) to attain terminal sterilization of moisture and heat sensitive medical devices. Its single pre-programmed cycle can sterilize a significant number and number of compatible devices, developing a cost-effective sterilization process with error free cycle selection. The device’s unique Dynamic Sterilant Delivery System™ instantly adjusts the amount of injected sterilant in line with the load composition, weight and temperature. This capacity removes the uncertainty and possibility of human error, as there’s you don’t need to sort instruments and select the right cycles just like other machines.

The STERIZONE® VP4 Sterilizer may be the only terminal sterilization way in which is Food and drug administration removed to sterilize multi-channeled flexible endoscopes (with no more than four channels) as high as 3.5 meters long, for example video colonoscopes and gastroscopes – a business first for just about any medical device sterilization process.

The STERIZONE® VP4 Sterilizer can also be the only real removed cold sterilizer that may process an assorted load composed of general instruments, single funnel flexible endoscopes, and double or single funnel rigid endoscopes within the same cycle with load weights as high as 75lbs.  The opportunity to run mixed loads considerably reduces labor costs by minimizing the quantity of instrument sorting needed, while maximizing the unit turns (more productivity from elevated throughput capacity).  

More details concerning the STERIZONE® VP4 Sterilizer can be obtained through TSO3‘s website, underneath the Products section at http://world wide web.tso3.com/en/products/sterizone-vp4/.

About TSO3

Founded in 1998, TSO3‘s activities encompass the purchase, production, maintenance, research, development and licensing of sterilization processes, related consumable supplies and accessories for warmth-sensitive medical devices. The Organization designs products for sterile processing areas within the hospital atmosphere that provide an beneficial substitute means to fix other cold sterilization processes presently utilized in hospitals. TSO3 also provides services associated with the constant maintenance of sterilization equipment and compatibility testing of medical devices with your processes.

To learn more about TSO3, go to the Company’s website at world wide web.tso3.com.

The statements within this release and dental statements produced by representatives of TSO3 associated with matters that aren’t historic details (including, without limitation, individuals concerning the timing or results of TSO3‘s regulatory filings, revenue, business or operations) are forward-searching statements which involve certain risks, uncertainties and ideas, including, although not restricted to, ale the organization to get the needed regulatory clearances to promote its products, general business and economic conditions, the health of the markets, ale TSO3 to acquire financing on favourable terms along with other risks and uncertainties.  Although TSO3 believes the expectations reflected such forward-searching statements are reasonable, it may give no assurance that such expectations will convince happen to be correct. The entire versions from the cautionary note regarding forward-searching statements in addition to a description from the relevant assumptions and risks prone to affect TSO3‘s actual or forecasted answers are incorporated within the Management’s Discussion and Analysis for that year ended December 31, 2016, that is on the business’s website. The forward-searching statements found in this pr release are created by the date hereof, and TSO3 doesn’t assume any obligation to update or revise any forward-searching statements, whether because of new information, future occasions or else unless of course specifically needed by relevant securities laws and regulations.

SOURCE TSO3 Corporation.

Related Links

http://world wide web.tso3.com

Interoperability in healthcare: Why we’re only getting began

Although the medical industry makes significant advancements when it comes to technology, interoperability remains challenging.

On day among the Redox and Matter Healthcare Interoperability Summit, a panel of investors and executives considered in around the issue.

Tools like health information exchanges have helped slowly move the needle on interoperability. Bits of legislation like the twenty-first century Cures Act have pressed the subject towards the forefront.

But so far, rules haven’t been enough to create a considerable dent within the problem.

“The government’s role here with interoperability is essential although not sufficient,” stated Leland Brewster, Healthbox’s director of fund management. “We’ve seen some important legislation come through, but I’m sure it’s likely to have a compelling capitalist business design to … bring the purpose home.”

From left: Moderator George McLaughlin, creative director of Redox Matt Valin Matthew Warrens Dr. Sachin Shah Robert Dickau and Leland Brewster. Photo: Erin Dietsche

The IT realm includes a way to go before it achieves the perfect condition of interoperability. And at this time, reaching that much cla is much more important than in the past.

Dr. Sachin Shah, affiliate chief medical information officer in the College of Chicago Medicine, noted the industry’s shift to value-based care relies upon better use of information. But providers can’t have total access without interoperability advancements. Overall, it’s less a technology problem like a data problem.

“I have to know everything that’s happening with individuals patients,” Shah stated. “I cannot manage them carrying out a value-based care approach basically don’t get access to that data.”

The barriers blocking interoperability innovation are manifold.

Matt Valin, director of United States sales for Glooko, noticed that some health systems are reluctant to apply technology, frequently because of old habits and potential to deal with change.

“New technology freaks people out,” he stated.

Getting providers to opt-was also difficult. While clinicians are educated to bring no injury to their sufferers, they’re made to have a chance — and possibly put their sufferers in danger — by utilizing new digital tools.

“We arrived at all of them with digital solutions and say, ‘Will you are taking this risk around?’” said Matthew Warrens, v . p . of innovation partnerships at OSF Healthcare.

Within the big plan of products, another barrier to innovation may be the business types of healthcare within the U . s . States, Brewster noted.

Removing limitations, improving access and ongoing inventiveness are secrets of success within the health IT space.

Though we’re not there yet, possibly eventually we’ll achieve the perfect realm of interoperability as Robert Dickau, director of innovation at Allscripts, described it: “Ideally, we’d possess a health record that will follow us around everywhere.” Instead of repeating your wellbeing information to every new provider, your whole health background could be at your disposal.

Photo: Alchemic2015, Getty Images

Advicenne Announces Positive 6-Month Extension Study Data from Pivotal Phase III Study of ADV7103 in Children and adults Struggling with distal Kidney Tubular Acidosis (dRTA)

NIMES, France, November 6, 2017 /PRNewswire/ —

Data presented in the American Society of Nephrology (ASN) meeting in New Orleans

– Positive data will form grounds for application seeking market authorization of ADV7103 towards the European Medicines Agency in Europe for dRTA expected in 2018

– Clinicians expect registration from the product for the treatment of dRTA 

Advicenne, a late-stage pharmaceutical company centered on the introduction of pediatric-friendly therapeutics to treat orphan kidney and nerve illnesses, announces positive 6 several weeks follow-up data in the pivotal phase III study (B22CS) assessing ADV7103 in children and adults struggling with dRTA. dTRA is really a disease characterised by an unbalanced pH in your body connected with a lot more disorders for example biochemical impairments that can lead to failure to thrive, rickets/osteomalacia, lithiasis and nephrocalcinosis that can result in kidney failure.

The preliminary outcomes of the 6-month follow-up study assessed the security and effectiveness of two times daily dosing of ADV7103 to treat dRTA both in adult and pediatric patients. The extension study (B22CS) adopted the pivotal phase III trial (B21CS), which demonstrated ADV7103’s capability to restore the primary biological defects observed using the disease, meeting secondary and primary endpoints. The product’s effectiveness, was proven to become maintained at 6 several weeks within this open label extension study, with bloodstream bicarbonate levels above 21 mM – the standard level – in 79% of the sufferers. Individual ADV7103 doses ranged from 1.3 to 7.2 mEq/kg/day.

Overall, patients and/or their parents were very pleased with ADV7103. It was measured utilizing a visual analogue scale (VAS) questionnaire quoting from (no improvement whatsoever) to 100% (very important improvement). The modification of treatment from standard of choose to ADV7103 permitted a typical improvement from the patients’ quality of existence of 80.5% with respect to the age bracket considered the advance ranged from 76 to 98%.

ADV7103 may be the company’s lead product and it has been made to address the condition in adults as well as in children. The condition in youngsters is usually from genetic origin while adults mostly develop dRTA because of autoimmune disease. Positive Phase III recent results for ADV7103 were announced in September this season and shown ADV7103’s capability to normalise the primary biological defects observed using the disease.

Dr Luc-André Granier, Chief executive officer and cofounder of Advicenne, commented, “The 6-month follow-up data presented at ASN are extremely encouraging because they reinforce the obvious benefits our lead product ADV7103 delivers. These data, along with the recent positive phase III results with ADV7103, that have been presented in the European Society for Paediatric Nephrology (ESPN) in September, highlight the potential for ADV7103 to get the very first strategy to dRTA, a kidney orphan disease rich in unmet medical needs.”

Dr Granier added, “Our strong links to key opinion leaders in nephrology, alongside our development expertise and scientific understanding happen to be answer to the effective clinical growth and development of ADV7103. The Advicenne team’s focus continues to be driven by their unwavering dedication to deliver pediatric-friendly therapeutics to patients to treat orphan kidney illnesses that you will find presently no approved treatments.Inch

The poster titled “Safety and effectiveness of ADV7103, a cutting-edge prolonged-release dental alkalising combination product, after 6-several weeks treatment in distal kidney tubular acidosis (dRTA) patients” was presented at ASN on second November 2017. The abstract could be utilized here.

About distal Kidney Tubular Acidosis (dRTA) 

dRTA is really a disease that happens when the kidneys don’t correctly remove acids in the bloodstream in to the urine. Consequently, an excessive amount of acidity remains within the bloodstream which generates an unbalanced pH that can result in failure to thrive and rickets (a disorder that affects bone rise in children) in addition to a selection of additional clinical disorders like a potassium deficiency (hypokalaemia) within the bloodstream serum which alters the part of countless organs and many conspicuously affects the heart. Additionally, a higher power of calcium within the bloodstream and urine (hypercalcemia and hypercalciuria) can result in kidney gemstones and calcinosis that may potentially cause kidney impairment, ultimately resulting in kidney failure. The condition, either genetic (usually occurring during childhood) or acquired because of autoimmune disease, is believed to affect roughly 30,000 patients in Europe and 20,000 in america. Current standard of care are often various unapproved products administered every 4 to 6 hrs to try to re-balance your body’s pH and also to normalise bloodstream potassium level.

About Advicenne 

Advicenne is really a late-stage pharmaceutical company concentrating on the introduction of pediatric-friendly therapeutics to treat orphan kidney and nerve illnesses. The Business’s innovative method is ADV7103 that has proven positive produces a pivotal phase III study in adults and children with distal Kidney Tubular Acidosis (dRTA). ADV7103 may also be coded in another indication to treat Cystinuria, a hereditary kidney tubulopathy and it is expected to initiate a pivotal Phase II/III medical trial in 2018 in Europe.

Additionally to ADV7103, the organization includes a portfolio of clinical and pre-clinical products targeting critical unmet needs in nephrology and neurology together with Key Opinion Leaders.

The Organization started in 2007 in Nimes (France). Since its beginning, the organization has elevated near to €30 million in equity from leading investment capital investors Innobio (Bpifrance), IXO Private Equity Finance, IRDI SORIDEC Gestion, Cemag Invest and MI Care.

More information about Advicenne can be obtained through its website: world wide web.advicenne.com

Disclaimer  

This pr release contains specifics of clinical growth and development of ADV7103.

For more information, please contact:
Advicenne
LA Granier, S Delbaere, J Rachline
[email protected]
+33-()-4-66-05-54-20

Citigate Dewe Rogerson
David Dible, Sylvie Berrebi, Marine Perrier, Laurence Bault, Alexandre Dechaux
[email protected]
+44-()-20-7638-9571 / +33-()-1-53-32-78-87

SOURCE Advicenne

Drug cost rules are coming condition-by-condition. May be the industry uncovered?

Money pile and medicine pills representing medical expenses

At any given time of effective political divide, there’s one issue that unites many U.S. politicians and citizens: Drug costs are excessive.

President Jesse Trump hinted at reforms with a number of colorful statements captured. But 10 several weeks into his tenure, nothing has materialized in the federal level. Rather, condition governments are leading the charge.

California Gov. Jerry Brown signed the Senate bill 17 measure on March. 9  in an effort to create accountability and transparency for this debate. Come Jan 1., biopharma companies will have to alert condition agencies and health insurers two months before applying a cost increase in excess of 16 percent more than a two-year period. By 2019, they have to also justify why.  

Based on a study through the National Conference of Condition Legislatures (NCSL), a minimum of 16 other states introduced similar bills throughout the 2015-2016 political season. Vermont’s was the first one to pass, in June 2016.

Eight other states have filed drug cost legislation targeting health insurers. Arkansas, South Dakota, and Texas signed their own into law. Another approach, taken by a minimum of 12 states, would be to regulate pharmacy benefit managers (PBMs). The NCSL report notes that three states signed PBM bills into law in 2015 or 2016.

Pointless to state, the wins are difficult fought against.

Industry lobbyists defeated three earlier drug cost transparency bills in California alone, spending $16.8 million over 18 several weeks, based on data in the Secretary of State’s office. [PhRMA, the nation’s largest drug lobby didn’t react to demands for comment.]

Even while, a larger fight loomed. Proposition 61, dubbed “The California Drug Cost Relief Initiative,” searched for to spread out the floodgates on cost settlement. It grew to become the most costly ballot fight in U.S. history, attracting near to $120 million from each side. Five from every six dollars visited opposing the balance via a effective advertising campaign.

Prop 61 was ultimately defeated, but it’s reliable advice a legislative movement is going ahead, noted Jeremy Schafer, senior v . p . of Payer Access Solutions at Precision for Value, a strong that can help biopharmaceutical companies maximize their market access.

Schafer believes the outcome, both intended and unintended, is going to be prevalent.

“I believe that whether this can be a California law or nationwide, for a few of these effects it’s almost a moot point,” he stated.

If companies inform California two months before a cost increase, that understanding will go into the public domain triggering reactions and actions in most 50 states.

The issue now: Will anything change?

Real life impact
For John LaMattina, a senior partner in the investment capital firm PureTech Health, transparency is exactly what Senate bill 17 is about.

“It’s legislation that’s really designed to shame companies,” LaMattina stated inside a recent phone interview.

But it isn’t obvious if the preferred objective of keeping prices affordable is going to be achieved. For the reason that context, the balance lacks teeth, he stated. For instance, the disclosure rules in Senate bill 17 affect increases in excess of 16 percent more than a two-year period, for drugs more vital than $40.

That threshold is high. A pharmaceutical company might increase the cost of the drug by 8 % annually, year-over-year, LaMattina stated. After nine years, the price of the drug might have basically bending. A $1,000 drug would now cost $1,999. A $65,000 drug would cost almost $130,000.

“So you’re still doing pretty much, working in the California law,” LaMattina stated.

For Schafer, with Precision for Value, one of the greatest concerns comes with the needs for public disclosure. Even one condition applying strict laws and regulations would pressure biopharma companies to exhibit their hands. This might disrupt existing logistics financial aspects within an unintended way.

If your pharmacy recognizes that a cost increase is in route, it may maintain stocks of the drug prior to the increase becomes effective. If this sells the drug after individuals two months, it will likely be reimbursed through the payer in the new inflated cost.

“There’s an idea, especially among providers, hospitals, and pharmacies, around ‘buy low then sell high,” “Schafer stated.

Good inventory managers attempt to anticipate cost changes and maintain stocks of that drug. But it’s uncertainty. Giving pharmacies, providers, and hospitals two months notice dramatically changes the sport.

“If you’re a producer now, how much is the fact that once you result in the announcement to California also it will get out, any customers will come your way attempting to buy a lot of product,” he stated.

That rapidly creates inventory issues and distribution issues. Schafer believes manufacturers may ultimately need to be cautious before announcing a rise because “everyone will wish to get hold of that product.”

LaMattina believes drug cost legislation may also create new logistical challenges for businesses, specifically if the laws and regulations are introduced condition-by-condition and never in the federal level. If your company does choose to boost the cost of the therapy considerably, are they going to then need to inform and justify the modification to each single condition? The number of employees wouldn’t it decide to try keep compliant with a large number of separate rules?

Serious negative effects?
Companies selling drugs today can adapt their prices strategies. What’s going to take place to individuals at the begining of-stage development? When the transparency bill does its job and moderates drug cost increases, there might be downstream implications.

“I think it makes more challenges for businesses which are getting drugs out,” Schafer stated.

The commitment of a blockbuster drug has lengthy been dwindling. Schafer suggests increasingly more types of drug companies presenting new therapies well underneath the expected cost, for example Roche’s ms drug Ocrevus.

In hepatitis C, both Merck and AbbVie undercut Gilead’s dominant franchise, getting prices lower and triggering companies within the R&D phase to chop their programs altogether, given just how much the net income potential had evaporated.

This type of scenario could be a boon for patients. However, it might hurt future R&D pipelines.

“When a rival is available in reduced than you would expect, it type of throws off what your prices strategy will probably be and just what your profit expectations will be,Inches Schafer remarked.

LaMattina believes a broader “dampening down” from the drug industry could cause some investors to place their cash into other industries. Drug development has already been a difficult sell using the 10+ years it requires for any product to achieve the marketplace, he stated. Being patient only is sensible when the eventual returns exist.  

That being stated, the won’t change overnight. LaMattina doesn’t be prepared to change his investment practices.

The demon is incorporated in the details
For Schafer, the ultimate impact from the bill will come lower towards the details.

“It is determined by what degree of information California will get with regards to the rationalization of the cost increase,” he stated.

Could it be enough for any drug company to state it’s running extra numerous studies? Or that manufacturing costs have risen? How can that be received when Big Pharma has in the past spent more about marketing of computer is wearing R&D? Which makes the industry’s argument these efforts hurt innovation a little specious.

Still, LaMattina highlights these efforts may be the oncoming of a slippery slope.

“I think the end result is that, although this law isn’t particularly harmful, opening the doorway could offer a variety of issues lower the road because this gets to be more prevalent and requires more transparency occur,” he stated.

Schafer agreed. “I believe that other states will consider pushing their very own ideas too, particularly if you do not have anything happening around the federal level.”

In the finish during the day, the drug industry might be not able to prevent a gentle tide of rules and limitations. However, because this New You are able to Occasions article illustrates well, they are able to considerably slow it. Entitled, “Drug Makers Face Pressure To Restrain Cost Increases,” the content describes a brand new federal law, so it calls the “toughest measure yet” to curtail quickly growing drug prices. The content was printed May 11, 1991.

Get ready for any lengthy and highly contested road to bring healthcare costs lower.

Photo: gerenme, Getty Images

Luminex Corporation Reports Third Quarter 2017 Financial Results

AUSTIN, Texas, Oct. 30, 2017 /PRNewswire/ — Luminex Corporation (Nasdaq: LMNX) today announced financial results for the third quarter of 2017.  Financial and operating highlights for the quarter include the following:

  • Consolidated revenue of $74.1 million, an increase of 4% compared to the third quarter 2016.
  • Assay revenue was $37.9 million for the quarter ended September 30, 2017, representing a 17% increase over assay revenue for the third quarter of 2016.
  • Total sample-to-answer molecular product revenue of $11.9 million; growth of 55% compared to $7.7 million in the third quarter of 2016.
  • Placed 60 sample-to-answer molecular systems under contract, bringing the total number of active customers to over 400.
  • 266 multiplexing analyzers were shipped during the quarter; a combination of MAGPIX® systems, LX systems, and FLEXMAP 3D® systems.
  • GAAP net income of $17.6 million, or $0.40 per diluted share. Non-GAAP net income of $10.7 million, or $0.25 per diluted share (see Non-GAAP reconciliation).
  • In September, Luminex agreed to continue to provide a major customer with our Cystic Fibrosis product portfolio through the end of 2019, with an option to extend beyond this time period.

“The tremendous momentum in our sample-to-answer molecular business drove the Company’s performance this quarter. Our VERIGENE and ARIES systems are experiencing excellent traction in the market resulting from a combination of factors, including their ease of use, a rapidly expanding FDA cleared test menu, differentiated pricing strategies, and a large, fully integrated sales and support team,” said Homi Shamir, President and Chief Executive Officer of Luminex.  “We remain enthusiastic about our diversified business model, our solid balance sheet, positive cash flow profile, and the significant future growth opportunities in both our Licensed Technologies Group and our molecular diagnostics business.”

REVENUE SUMMARY

(in thousands, except percentages) 

Three Months Ended

September 30,

Variance

2017

2016

($)

(%)

(unaudited)

System sales

$           9,903

$         10,494

$       (591)

-6%

Consumable sales

10,619

12,305

(1,686)

-14%

Royalty revenue

11,001

11,068

(67)

-1%

Assay revenue

37,917

32,443

5,474

17%

Service revenue

2,894

2,934

(40)

-1%

Other revenue

1,802

1,977

(175)

-9%

$         74,136

$         71,221

$     2,915

4%

Nine Months Ended

September 30,

Variance

2017

2016

($)

(%)

(unaudited)

System sales

$         28,309

$         27,805

$        504

2%

Consumable sales

39,314

37,489

1,825

5%

Royalty revenue

33,375

33,888

(513)

-2%

Assay revenue

113,077

85,367

27,710

32%

Service revenue

8,594

7,892

702

9%

Other revenue

5,703

5,927

(224)

-4%

$       228,372

$       198,368

$    30,004

15%

FINANCIAL OUTLOOK AND GUIDANCE

The Company reaffirms its guidance for the full year and expects fourth quarter 2017 revenue to be between $76 million to $78 million.

CONFERENCE CALL

Management will host a conference call at 3:30 p.m. CDT / 4:30 p.m. EDT, Monday, October 30, 2017 to discuss the operating highlights and financial results for the third quarter 2017 ended September 30, 2017. The conference call will be webcast live and may be accessed at Luminex Corporation’s website at http://www.luminexcorp.com.  Simply log on to the web at the address above, go to the Company section and access the Investor Relations link. Please go to the website at least 15 minutes prior to the call to register, download and install any necessary audio/video software. If you are unable to participate during the live webcast, the call will be archived for six months on the website using the ‘replay’ link.

Luminex develops, manufactures and markets proprietary biological testing technologies with applications throughout the life sciences industry. The Company’s xMAP® system is an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including the genomics and proteomics research markets. The Company’s xMAP technology is sold worldwide and is in use in leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies.  Further information on Luminex or xMAP can be obtained on the Internet at http://www.luminexcorp.com.

Statements made in this release that express Luminex’s or management’s intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. Forward-looking statements in this release include statements regarding expected revenue and cost savings, projected 2017 performance, including revenue guidance, including the revenue contribution from our recently completed acquisition of Nanosphere, Inc. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will,” “could,” “should” and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995.  It is important to note that the Company’s actual results or performance could differ materially from those anticipated or projected in such forward-looking statements.  Factors that could cause Luminex’s actual results or performance to differ materially include risks and uncertainties relating to, among others, market demand and acceptance of Luminex’s products and technology in development, including ARIES®, Verigene®and NxTAG®products; dependence on strategic partners for development, commercialization and distribution of products; concentration of Luminex’s revenue in a limited number of direct customers and strategic partners, some of which may be experiencing decreased demand for their products utilizing or incorporating Luminex’s technology; budget or finance constraints in the current economic environment, or periodic variability in their purchasing patterns or practices as a result of material resource planning challenges; the timing of and process for regulatory approvals; the impact of the ongoing uncertainty in global finance markets and changes in governmental funding, including its effects on the capital spending policies of Luminex’s partners and end users and their ability to finance purchases of Luminex’s products; fluctuations in quarterly results due to a lengthy and unpredictable sales cycle; fluctuations in bulk purchases of consumables; fluctuations in product mix, and the seasonal nature of some of Luminex’s assay products; Luminex’s ability to obtain and enforce intellectual property protections on Luminex’s products and technologies; risks and uncertainties associated with implementing Luminex’s acquisition strategy, including Luminex’s ability to obtain financing; Luminex’s ability to integrate acquired companies or selected assets into Luminex’s consolidated business operations, and the ability to recognize the benefits of Luminex’s acquisitions; reliance on third party distributors for distribution of specific Luminex-developed and manufactured assay products; Luminex’s ability to scale manufacturing operations and manage operating expenses, gross margins and inventory levels; changes in principal members of Luminex’s management staff; potential shortages, or increases in costs, of components or other disruptions to Luminex’s manufacturing operations; competition and competitive technologies utilized by Luminex’s competitors; Luminex’s ability to successfully launch new products in a timely manner; Luminex’s increasing dependency on information technology to improve the effectiveness of Luminex’s operations and to monitor financial accuracy and efficiency; the implementation, including any modification, of Luminex’s strategic operating plans; the uncertainty regarding the outcome or expense of any litigation brought against or initiated by Luminex, risks relating to Luminex’s foreign operations, including fluctuations in exchange rates, tariffs, customs and other barriers to importing/exporting materials and products in a cost effective and timely manner; difficulties in accounts receivable collections; the burden of monitoring and complying with foreign and international laws and treaties; and the burden of complying with and change in international taxation policies, as well as the risks discussed under the heading “Risk Factors” in Luminex’s Reports on Forms 10-K and 10-Q, as filed with the Securities and Exchange Commission.  The forward-looking statements, including the financial guidance and 2017 outlook, contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Luminex’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.

LUMINEX CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

September 30,

December 31,

2017

2016

(unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$        110,911

$         93,452

Accounts receivable, net

36,432

32,365

Inventories, net

46,114

40,775

Prepaids and other

9,915

7,145

Total current assets

203,372

173,737

Property and equipment, net

57,686

57,375

Intangible assets, net

78,152

84,841

Deferred income taxes

45,943

42,497

Goodwill

85,481

85,481

Other

8,094

6,785

Total assets

$        478,728

$       450,716

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$            7,813

$         12,276

Accrued liabilities

21,175

22,804

Deferred revenue

5,123

5,120

Total current liabilities

34,111

40,200

Deferred revenue

1,609

1,875

Other

4,828

4,962

Total liabilities

40,548

47,037

Stockholders’ equity:

Common stock

43

43

Additional paid-in capital

345,663

336,430

Accumulated other comprehensive loss

(817)

(1,692)

Retained earnings

93,291

68,898

Total stockholders’ equity

438,180

403,679

Total liabilities and stockholders’ equity

$        478,728

$       450,716

LUMINEX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2017

2016

2017

2016

(unaudited)

(unaudited)

Revenue

$     74,136

$     71,221

$    228,372

$    198,368

Cost of revenue

28,317

25,556

79,706

62,976

Gross profit

45,819

45,665

148,666

135,392

Operating expenses:

Research and development

10,670

12,762

35,350

35,324

Selling, general and administrative

26,454

26,393

78,604

70,942

Amortization of acquired intangible assets

2,166

2,482

6,689

5,797

Total operating expenses

39,290

41,637

120,643

112,063

Income from operations

6,529

4,028

28,023

23,329

Other income, net

(1)

30

(6)

(1,395)

Income before income taxes

6,528

4,058

28,017

21,934

Income tax benefit (expense)

11,085

(1,307)

4,371

(4,760)

Net income

$     17,613

$       2,751

$     32,388

$     17,174

Net income attributable to common stock holders

Basic

$     17,299

$       2,751

$     31,789

$     17,174

Diluted

$     17,299

$       2,751

$     31,789

$     17,174

Net income per share attributable to common stock holders

Basic

$         0.40

$         0.06

$         0.74

$         0.40

Diluted

$         0.40

$         0.06

$         0.74

$         0.40

Weighted-average shares used in computing net income per share

Basic

43,164

42,683

43,110

42,522

Diluted

43,266

43,136

43,216

42,929

Dividends declared per share

$         0.06

$         0.18

LUMINEX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2017

2016

2017

2016

(unaudited)

(unaudited)

Cash flows from operating activities:

Net income

$     17,613

$       2,751

$     32,388

$     17,174

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

5,609

5,913

16,879

14,401

Stock-based compensation

3,829

3,526

8,577

8,181

Deferred income tax expense

(10,379)

1,540

(3,112)

4,471

Loss (gain) on sale or disposal of assets

417

87

417

128

Other

357

(799)

1,279

(870)

Changes in operating assets and liabilities:

Accounts receivable, net

(3,295)

(3,118)

(4,053)

3,555

Inventories, net

988

(2,125)

(5,316)

(6,165)

Other assets

(1,564)

(902)

(2,761)

(230)

Accounts payable

(2,163)

(1,674)

(4,532)

1,050

Accrued liabilities

2,273

(428)

(5,138)

(6,602)

Deferred revenue

81

112

(269)

733

Net cash provided by operating activities

13,766

4,883

34,359

35,826

Cash flows from investing activities:

Sales and maturities of available-for-sale securities

19,491

Purchase of property and equipment

(3,981)

(2,675)

(10,384)

(8,394)

Proceeds from sale of assets

1

42

1

45

Business acquisition consideration, net of cash acquired

(1,196)

(68,098)

Issuance of note receivable

(700)

(700)

Purchase of cost method investment

(500)

(1,000)

(500)

Acquired technology rights

(60)

(60)

(200)

Net cash used in investing activities

(4,740)

(4,329)

(12,143)

(57,656)

Cash flows from financing activities:

Payments on debt

(25,000)

Proceeds from issuance of common stock

1,005

1,799

3,234

3,561

Shares surrendered for tax withholding

(28)

(13)

(2,124)

(1,497)

Dividends

(2,645)

(5,281)

Net cash (used in) provided by financing activities

(1,668)

1,786

(4,171)

(22,936)

Effect of foreign currency exchange rate on cash

(152)

87

(586)

365

Change in cash and cash equivalents

7,206

2,427

17,459

(44,401)

Cash and cash equivalents, beginning of period

103,705

81,718

93,452

128,546

Cash and cash equivalents, end of period

$    110,911

$     84,145

$    110,911

$     84,145

LUMINEX CORPORATION

NON-GAAP RECONCILIATION

(in thousands)

Three Months Ended

Nine Months Ended

September 30,

September 30,

2017

2016

2017

2016

(unaudited)

(unaudited)

Income from operations

$       6,529

$       4,028

$     28,023

$     23,329

Stock-based compensation

3,829

3,526

8,577

8,181

Amortization of acquired intangible assets

2,166

2,482

6,689

5,797

Acquisition costs

479

2,487

Severance costs

243

126

901

940

Adjusted income from operations

$     12,767

$     10,641

$     44,190

$     40,734

Other income, net

(1)

30

(6)

(1,395)

Acquisition costs

1,500

Income tax expense

11,085

(1,307)

4,371

(4,760)

Income tax effect of above adjusting items

(761)

(305)

(2,053)

(721)

Income tax benefit from discrete tax items

(12,400)

(12,400)

Adjusted net income

$     10,690

$       9,059

$     34,102

$     35,358

Adjusted net income per share, basic

$         0.25

$         0.21

$         0.79

$         0.83

Shares used in computing adjusted net income per share, basic

43,164

42,683

43,110

42,522

Adjusted net income per share, diluted

$         0.25

$         0.21

$         0.79

$         0.82

Shares used in computing adjusted net income per share, diluted

43,266

43,136

43,216

42,929

The Company makes reference in this release to “non-GAAP net income” which excludes stock-based compensation expense, amortization of acquired intangible assets and the impact of costs associated with legal proceedings; some of which are unpredictable and can vary significantly from period to period; and certain other recurring and non-recurring expenses. The Company believes that excluding these items and their related tax effects from its financial results reflects operating results that are more indicative of the Company’s ongoing operating performance while improving comparability to prior periods, and, as such may provide investors with an enhanced understanding of the Company’s past financial performance and prospects for the future. In addition, the Company’s management uses such non-GAAP measures internally to evaluate and assess its core operations and to make ongoing operating decisions. This information is not intended to be considered in isolation or as a substitute for income from operations, net income, net income per share or expense information prepared in accordance with GAAP.

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SOURCE Luminex Corporation

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http://www.luminexcorp.com