Concepta PLC Trading and Order Update (6709V)
06 November 2017 - 11:54PM
UK Regulatory
TIDMCPT
RNS Number : 6709V
Concepta PLC
06 November 2017
6 November 2017
Concepta plc
("Concepta" or the "Company")
TRADING AND ORDER UPDATE
Concepta plc (AIM: CPT), the pioneering UK healthcare company
and developer of a proprietary platform and suite of products
targeted at the personalised mobile health market with a primary
focus on women's fertility and specifically unexplained
infertility, announces that it has received notice from a
distributor that it will formally place an order for GBP600,000
this month. However, due to third party supplier constraints,
revenues from this expected order will be realised in Q1 2018,
meaning that 2017 revenues will be lower than market expectations.
Orders have been increasing during the second half of October, and
with further new distributors being appointed in November and
indications of a number of additional new orders, the Board expects
the delayed revenue to be additive to the 2018 budget.
Concepta sources components for its myLotus products from both
UK and Chinese manufacturers. The supplier of the myLotus monitor
has reported a longer lead time for procuring one of the chemicals
required in the manufacturing of the plastic at one of their third
party suppliers. The delay in the delivery date affects
approximately half of the components required to fulfil the orders
and revenues as previously forecast for the current year. The Board
now anticipates that the delivery of the shortfall will fall into
Q1 2018.
To prevent any future delays with the supply chain, David
Darrock, recently appointed Chief Operating Officer, will head the
supply chain management process to ensure future volume
requirements are met. David has significant experience managing
Chinese supply chains and he will be tasked with sourcing
additional suppliers to ensure that the supply chain is robust so
as to cover all future requirements.
Erik Henau, CEO of Concepta plc said: "Despite the supplier
constraints, the Company has made significant progress this year,
establishing initial revenues and a growing order book, and the
Board expects 2018 to be a transformational year for the Company.
The Company has made notable progress towards widespread hospital
distribution in China and its direct-to-consumer launch in Europe,
providing a fertility platform to address the universal issue of
unexplained infertility that women and couples face. Concepta
recently announced the signing of two new distributors and expects
to announce further signings and orders in the near future. These
are expected following the product launch conference on the 22(nd)
November in Shanghai, which will be attended by additional
distributors and doctors. Beyond this, we see a considerable
opportunity for myLotus to become an integral tool for healthcare
systems to provide personalised healthcare with better patient
outcomes at reduced healthcare costs."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Concepta plc
Erik Henau
CEO
Tel: +44 (0) 1234 866601
SPARK Advisory Partners Limited (Nomad)
Neil Baldwin / Mark Brady
Tel: +44 (0)20 368 3550
Beaufort Securities Limited (Broker)
Jon Belliss
Tel: +44 (0)20 7382 8300
Yellow Jersey (Financial PR)
Georgia Colkin / Joe Burgess / Katie Bairsto
Tel: +44 (0)7825916715
About Concepta plc:
Concepta plc is a pioneering UK healthcare company that has
developed a proprietary platform and products targeted at the
personalised mobile health market with a primary focus on women's
fertility and specifically unexplained infertility*.
Founded in 2013, Concepta has developed a revolutionary flagship
product 'myLotus' for home self-testing that helps women with
unexplained infertility to conceive.
myLotus is the only consumer product which allows both
quantitative and qualitative measurements in urine of a woman's
personal hCG and LH hormone levels in an easy to use home test to
facilitate higher conception rates and early diagnosis of any
fertility problems. Competitor products currently only allow
qualitative measurement and are based on the 'average woman'.
Concepta has a defined route to market for its new 'My Lotus'
product with Regulatory approvals for launch in China in place for
2016 and CE-Marking for UK and Europe to follow in 2017 where the
revenue potential of the Chinese and EU infertility market is worth
c.GBP600m per annum for the company.
*Unexplained infertility refers to women that have been unable
to conceive after 6 months of trying. This highly motivated target
group of consumers won't typically be offered medical intervention
until 12 months of unsuccessfully trying, with IVF not offered
until two years. Research indicates couples start to take positive
action ahead of this time and there is little medical support to
help them do so.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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