EOS imaging Reports 28% Sales Growth for the Third Quarter 2017

PARIS–(BUSINESS WIRE)–EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible PEA – SME), the pioneer of orthopaedic medical imaging, 2D/3D, today announced its (non-audited) consolidated sales for the third quarter ended September 30, 2017. The Company also announced the appointment of Eric Maulavé as Chief Operating Officer (COO) as part of its ongoing effort to develop its leadership team, and highlighted its participation at the Journées Francophones de Radiologie (JFR) meeting, which will take place from October 12 – 16, 2017 in Paris.

Marie Meynadier, Chief Executive Officer of EOS imaging, commented: “Sales in the third quarter grew 28%, reflecting strong performance in Europe and the stabilization of our North American business, which is beginning to benefit from new leadership and organizational structure. During the quarter we also had good growth in our recurring sales categories driven by our expanding installed base. Looking forward, we are confident that our North American team is building momentum that should bring a return to sustained growth in the region at the end of the year. We are also pleased to appoint Eric Maulavé to the new position of Chief Operating Officer, with responsibility for operations outside of North America. This is a natural expansion of the team to support our growth worldwide. Finally, our investments in developing new software applications continue to build the value of the EOS platform and we look forward to presenting our new connectivity solution at the JFR meeting, which is the largest radiology meeting in France.”

In the third quarter of 2017, the Company generated revenue of €8.5 million, up 28% compared to the third quarter of 2016. The Company sold 17 EOS® systems during the third quarter of 2017, compared to 13 systems in the same period last year. Sales of maintenance contracts increased by 52% to €1.5 million, reflecting the continued growth of the installed base of EOS systems under contract. Recurring revenue in the third quarter of 2017 represented 20% of total sales, compared to 17% of total sales in the same period last year.

The increase in revenues over the third quarter of 2017 was mainly driven by strong sales in Europe. In North America, sales declined but were trending toward more stable results as the Company begins to benefit from new leadership and organizational structure.

In the first nine months of 2017, the Company sold 51 EOS® systems, compared to 41 systems in the same period last year.

• Appointment of Eric Maulavé to the Position of Chief Operating Officer

As part of the continued execution of its global growth strategy, the Company is strengthening its senior leadership with the appointment of Eric Maulavé as Chief Operating Officer effective October 1, 2017. In this position Eric will have responsibility for production, maintenance, engineering, clinical, quality/regulatory activities as well as sales in the EMEA, Asia-Pacific and LATAM regions. Mr. Maulavé previously served as the Company’s Vice President of Global Sales and has been with the Company since 2012.

• Journées Francophones de Radiologie

The company will present its new 3D image sharing application at the Journées Francophones de Radiologie (JFR) meeting in Paris from October 12-16, 2017, focused this year on the patient. The new software is dedicated to 2D/3D and clinical data sharing and aimed at facilitating the relationship between radiologist, patient and referring physician (orthopedic surgeon, rheumatologist or general practitioner).

About EOS imaging

EOS imaging designs, develops, and markets EOS®, an innovative medical imaging service dedicated to osteo-articular pathologies and orthopaedics, as well as the associated solutions. The Company is authorized to market in 51 countries, including the United States (FDA), Japan, and the European Union (EC). It posted revenues of €30.8 million in 2016 and employed 132 people at December 2016, including an R&D team of 43 engineers. The group is based in Paris and has five subsidiaries: in Besançon (France), Cambridge (Massachusetts), Montreal (Canada), Frankfurt (Germany) and Singapore.

EOS imaging has been selected to integrate the EnterNext © PEA – SME 150 index, composed of 150 French, listed companies on the Euronext markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI