Press Release

Fribourg, 3 September 2024

AEVIS VICTORIA SA (AEVS.SW) – Klinik Pyramide to be integrated into Privatklinik Bethanien in Zurich

AEVIS VICTORIA SA (AEVIS) announces an organizational change at its largest investment, Swiss Medical Network. As the landlord of the Klinik Pyramide am See in Zurich needs to renovate the building from the beginning of 2025, the clinic will gradually move its activities from its current location in Zurich to the campus of Privatklinik Bethanien in Zurich. As part of this move, the operating company of Klinik Pyramide am See will also be integrated into Privatklinik Bethanien at the end of 2024. This concentration of the two traditional Zurich clinics at one location will reduce the number of facilities in the Swiss Medical Network from 21 to 20 hospitals.

The project to relocate the Klinik Pyramide to the Zürichberg has been planned over a long period of time. In order to create modern structures and efficient processes, an extension of the existing buildings of the Privatklinik Bethanien and a new building between Hinterstrasse and Restelbergstrasse are also planned. Swiss Medical Network expects that the transaction to reduce rental and administrative costs by up to CHF 2 million per year, with a correspondingly positive impact on margins.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA – Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA (80%, directly and indirectly), the only Swiss private network of hospitals present in the country’s three main language regions, MRH Switzerland AG, a luxury hotel group managing eleven luxury hotels in Switzerland and abroad, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, Swiss Hotel Properties SA, a hospitality real estate division, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.

Nyxoah Rings the Closing Bell at Nasdaq while Preparing for U.S. Market Launch of Innovative Sleep Apnea Device

FDA regulatory submission for the Company’s Genio® device is complete, U.S. approval on track for the end of 2024

U.S. commercial launch, expected at the beginning of 2025, fully funded with over €85 million in new capital raised

Mont-Saint-Guibert, Belgium – September 2, 2024 10:05pm CET / 4:05PM ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), rang the Nasdaq Closing Bell on August 29, 2024 to recognize the Company’s recent progress and highlight upcoming milestones on its path to the U.S. market launch of its innovative patient-centric Genio® hypoglossal nerve stimulation technology for OSA, a prevalent and severe sleep-related breathing disorder associated with increased mortality risk and cardiovascular comorbidities.

“We are honored to ring the Closing Bell and to celebrate our recent clinical and regulatory achievements in the U.S. We look forward with excitement to the upcoming U.S. launch of our lead product, Genio,” commented Olivier Taelman, Nyxoah’s Chief Executive Officer. “The U.S. is the largest healthcare market globally and therefore of strategic importance for us. With robust clinical evidence from our pivotal DREAM study, solid funding in place and our strengthened US commercial team, we feel well positioned to enter the US market. We have submitted the final module of our PMA submission to the FDA and are on track for U.S. approval by the end of 2024. If approved, Genio could become available in the U.S. as early as the beginning of 2025.”

Recent Highlights and Upcoming Milestones of Nyxoah’s U.S. Commercialization Strategy

• Announcement of positive data from the pivotal U.S. study, DREAM, regarding Nyxoah’s Genio® system, an innovative hypoglossal neurostimulation therapy for Obstructive Sleep Apnea (OSA) in spring 2024.
• Final module submitted in the modular PMA submission, initiating FDA interactive review.
• Building a U.S. commercial organization, headed by Scott Holstine as the new Chief Commercial Officer along with key sales, marketing and market access leaders.
• The U.S. market launch of Genio® is fully funded following the successful raising of over €85 million in growth capital through a €48.5 million equity offering and a €37.5 million loan facility agreement with the European Investment Bank (EIB).
• FDA approval expected approval by US Food and Drug Administration by the end of 2024.
• U.S. market launch of Genio® planned for the beginning of 2025.

To view the broadcast of the Nasdaq Closing Bell ceremony, please visit: https://www.nasdaq.com/news-and-insights/nasdaq-stock-market-bell-ceremonies

About Nyxoah

Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest. 

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Nyxoah completed two successful IPOs: on Euronext Brussels in September 2020 and NASDAQ in July 2021. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company announced positive outcomes from the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please see the Company’s annual report for the financial year 2023 and visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Forward-looking statements

Certain statements, beliefs and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ or managements’ current expectations regarding the entry into of the loan facility agreement and the synthetic warrant agreement with the EIB; the use of proceeds from the loan facility agreement; the Genio® system and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; reporting data from Nyxoah’s DREAM U.S. pivotal trial; filing for FDA approval; and entrance to the U.S. market. By their nature, forward-looking statements involve a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions and factors could adversely affect the outcome and financial effects of the plans and events described herein. Additionally, these risks and uncertainties include, but are not limited to, the risks and uncertainties set forth in the “Risk Factors” section of the Company’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on March 20, 2024, and subsequent reports that the Company files with the SEC. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Forward looking statements contained in this press release regarding past trends or activities are not guarantees of future performance and should not be taken as a representation that such trends or activities will continue in the future. In addition, even if actual results or developments are consistent with the forward-looking statements contained in this press release, those results or developments may not be indicative of results or developments in future periods. No representations and warranties are made as to the accuracy or fairness of such forward-looking statements. As a result, the Company expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based, except if specifically required to do so by law or regulation. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contacts:

Nyxoah
David DeMartino, Chief Strategy Officer
IR@nyxoah.com

For Media

Belgium/France
Backstage Communication – Gunther De Backer
gunther@backstagecom.be

International/Germany
MC Services – Anne Hennecke
nyxoah@mc-services.eu

Korneuburg, Austria, 02. September 2024 – Marinomed Biotech AG (the “Company”) announces that the Management Board decided today to evaluate a capital increase of up to 154,053 new shares to be issued from the Authorized Capital 2024, subject to the direct exclusion of statutory subscription rights of existing shareholders, to finance the ongoing costs in the restructuring proceedings, to finance part of the restructuring plan proposal and for costs of continuing operations. This corresponds to up to 10% of the Company’s existing share capital.

For the purpose of the evaluation, the Management Board will enter into discussions with selected investors regarding the potential transaction and the transaction documentation. The actual implementation of the capital increase depends on the outcome of these discussions and is subject to further resolution by the Management Board and approval of the Supervisory Board. In addition, the restructuring proceedings require the approval of the restructuring administrator. These approvals have not yet been obtained.

If the capital increase is implemented, the Management Board is considering a possible second capital increase of 10% of the Company’s existing share capital, with exclusion of the statutory subscription rights of existing shareholders.

+++ End of ad-hoc announcement +++ 
 

Viromed Medical AG: Successful start of trading on XETRA
 

• Listing on leading German financial market increases liquidity and expands investor base
• Aiming to expand its pioneering role in the medical use of cold plasma technology

Pinneberg, 2 September 2024 – Viromed Medical AG (Ticker: VMED; ISIN: DE000A3MQR65; “Viromed”) has reached another milestone in its capital market strategy. Following the recent uplisting to the primary market segment “Primärmarkt” of its home stock exchange in Düsseldorf, Viromed’s shares are now traded on XETRA and, in connection therewith, also on the Frankfurt Stock Exchange. Viromed expects the inclusion in the fully electronic trading system XETRA to open up a broader investor base in Germany and abroad. BankM AG acts as designated sponsor and ensures liquid trading of Viromed shares through binding buy and sell quotes.

Uwe Perbandt, CEO of Viromed Medical AG, explained: “The start of XETRA trading is a further significant step for our development on the capital market and for a growth in line with the prospects of our company. Our products in cold plasma technology are aimed at markets worth billions, in which we can revolutionize conventional treatment methods – to the benefit of patients and ultimately the entire healthcare system. As a pioneer in the spread of cold plasma technology for such medical purposes, we see great growth potential for our company in the coming years. In addition to these operational opportunities, we can increase the liquidity of our share and gain attractiveness for additional investor groups through the inclusion in XETRA trading.”

About Viromed Medical AG:

Viromed Medical AG specializes in the development, manufacture and distribution of medical products. The operating business of the company, which has been listed on the stock exchange since October 2022, focuses on the distribution of innovative cold plasma technology for medical applications via its wholly owned subsidiary Viromed Medical GmbH. Viromed can draw on a broad customer base in the DACH region, including DAX companies such as Volkswagen and Lufthansa, state and federal authorities and ministries as well as 1,100 hospitals, 7,000 pharmacies and 11,000 medical practices.

Cold atmospheric plasma (CAP) has been scientifically proven to inactivate harmful viruses, fungi and bacteria and has the potential to revolutionize conventional treatment methods in a wide variety of areas. Viromed Medical AG is doing important pioneering work in this field. The clearly superior CAP is already being used to treat difficult-to-heal wounds. Viromed is currently conducting clinical trials for use in pulmonary medicine. Viromed Medical AG is pursuing the goal of further advancing the use of CAP in medicine in the coming years and realizing the corresponding growth potential.

Contact Viromed Medical AG

Uwe Perbandt
CEO
Flensburger Strasse 18
25421 Pinneberg
Germany
Email: kontakt@viromed-medical.de
www.viromed-medical-ag.de

Relief Therapeutics Announces PKU GOLIKE Study Results Presentation at SSIEM 2024

GENEVA (SEPT. 2, 2024) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, announced today that interim data from its clinical trial evaluating PKU GOLIKE^® will be presented at the Society for the Study of Inborn Errors of Metabolism (SSIEM) 2024 Annual Symposium being held in Porto, Portugal.

The Company-sponsored, randomized, crossover, controlled study was conducted by the Inherited Metabolic Disorders Unit at Birmingham Children’s Hospital, UK. This study evaluated the benefits of PKU GOLIKE compared to standard amino acid protein substitutes in controlling overnight phenylalanine (Phe) fluctuations in the pediatric population with phenylketonuria (PKU).

An oral presentation titled “Randomized Investigation to Evaluate PHE Fluctuation After Overnight Fasting in PKU Patients Treated with Prolonged Release versus Standard Amino Acid Protein Substitute,” will be presented by Prof. Anita MacDonald, a leading dietitian in inherited metabolic disorders. Preliminary results suggest that PKU GOLIKE reduces blood phenylalanine levels and increases blood tyrosine levels overnight compared to standard amino acid protein substitutes. Should these findings be confirmed, they would demonstrate PKU GOLIKE’s enhanced ability to prevent the toxic accumulation of Phe in PKU patients during prolonged fasting periods.

Relief plans to report final and comprehensive study results following the completion of ongoing data analysis.

For more information on this study (NCT05487378), please visit clinicaltrials.gov.

ABOUT PKU GOLIKE^®
PKU GOLIKE products are Foods for Special Medical Purposes (FSMPs) for the dietary management of PKU in children and adults. Developed with Relief’s proprietary, patent-protected Physiomimic Technology™ drug delivery platform, PKU GOLIKE products are the first prolonged-release amino acid FSMPs, characterized by a special coating that ensures physiological absorption of the amino acids mirroring that of natural proteins, while also masking the unpleasant taste and odor typically associated with amino acids. PKU GOLIKE products are marketed in the U.S. by Eton Pharmaceuticals Inc. under an exclusive license and supply agreement with Relief, in key European markets by Relief, and select countries worldwide through licensing and distribution partners.

ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief’s portfolio offers a balanced mix of marketed, revenue-generating products, proprietary, globally patented TEHCLO™ and Physiomimic™ platform technologies and a targeted clinical development pipeline consisting of risk-mitigated assets focused in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. In addition, Relief is commercializing several legacy products via licensing and distribution partners. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.

CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com

DISCLAIMER
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, including its ability to achieve its corporate, development and commercial goals, and other factors which could cause the actual results, financial condition, performance or achievements of Relief to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A number of factors, including whether the final results will confirm the currently available data from the NCT05487378 study, and those described in Relief’s filings with the SIX Swiss Exchange and the U.S. Securities and Exchange Commission (SEC), could impact the outcome. Copies of Relief’s filings with the SEC are available on the SEC EDGAR database at www.sec.gov. Relief does not undertake any obligation to update the information contained herein, which speaks only as of this date.

Relief Therapeutics Reports Half-Year 2024 Financial Results and Provides Corporate Update

• RLF-TD011 investigator-initiated trial results for EB wound treatment anticipated in the coming weeks
• RLF-OD032 pilot PK study progresses with potential NDA filing by mid- to late 2025
• Streamlined operations and CHF 15.1 million cash reserves expected to provide funding into at least 2026

GENEVA (AUG. 30, 2024) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief, or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, today reported its financial results for the half-year ended June 30, 2024, and provided a corporate update.

Relief provided updates on its key development programs and strategic initiatives, including RLF-TD011, a hypochlorous acid topical spray designed for the treatment of epidermolysis bullosa (EB), and RLF-OD032, a novel liquid formulation of sapropterin dihydrochloride for the management of phenylketonuria (PKU).

The Company reported significant financial improvements in the first half of 2024, with revenue up 85% and operating expenses down 45%, driven by strategic realignment and cost-reduction initiatives. Investments in R&D, however, were stable. Remaining debt-free, the Company expects its cash reserves of CHF 15.1 million as of August 30, 2024, and projected revenue to fund operations into at least 2026.

The Relief 2024 half-year report is available on the Company’s website.
 

ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company committed to advancing treatment paradigms and delivering improvements in efficacy, safety, and convenience to benefit the lives of patients living with select specialty and rare diseases. Relief’s portfolio offers a balanced mix of marketed, revenue-generating products, proprietary, globally patented TEHCLO™ and Physiomimic™ platform technologies and a targeted clinical development pipeline consisting of risk-mitigated assets focused in three core therapeutic areas: rare skin diseases, rare metabolic disorders, and rare respiratory diseases. In addition, Relief is commercializing several legacy products via licensing and distribution partners. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.
 

CONTACT:
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com
 

DISCLAIMER
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, including its ability to achieve its corporate, development and commercial goals, and other factors which could cause the actual results, financial condition, performance or achievements of Relief to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. A number of factors, including those described in Relief’s filings with the SIX Swiss Exchange and the U.S. Securities and Exchange Commission (SEC), could adversely affect Relief. Copies of Relief’s filings with the SEC are available on the SEC EDGAR database at www.sec.gov. Relief does not undertake any obligation to update the information contained herein, which speaks only as of this date.

Vita 34 continues positive trend in the first half of 2024 and once again significantly increases operating cash flow

• Revenues increase by 4.9 percent to EUR 38.0 million in the first half of the year
• EBITDA increases by 76.4 percent to EUR 2.7 million
• Operating cash flow increases significantly to EUR 4.3 million
• Outlook for full-year 2024 confirmed

Leipzig, 30 August 2024 – Vita 34 AG, the leading cell bank in Europe and the third largest in the world, continued to improve its business performance in the first half of 2024, reaching the sixth quarter of consecutive growth. Despite the general economic environment remaining challenging, the Company managed to significantly increase its results and operational cash flow.

Revenues increased by 4.9 percent to EUR 38.0 million in the first half of the year (H1 2023: EUR 36.3 million), with growth of 6.0 percent in the second quarter alone. At EUR 35.9 million, the net amount of invoiced services in the end customer business (B2C) was 13.1 percent higher than in the previous year (H1 2023: EUR 31.7 million). The amount attributable to annually recurring payments of EUR 11.0 million was 8.1 percent higher than in the previous year (H1 2023: EUR 10.1 million). In the second quarter, the Group faced a slightly lower than expected number of new customer wins, while selective markets such as Romania, Switzerland and the GCC region performed quite well. The latter once again underlined the attractiveness of this growth region with significant double-digit growth rates and a significant improvement in financial results. In addition, demand for renewals of expiring contracts remained strong and continued to grow. In parallel with this ongoing positive trend, the Company managed to offset the impact of inflation through price adjustments and the sale of higher-value product bundles, resulting in year-on-year revenue growth in most markets.

At EUR 2.7 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were up 76.4 percent on the previous year (H1 2023: EUR 1.6 million). As a result, the EBITDA margin continued to recover and, at 7.2 percent, was significantly higher than the previous year’s level of 4.3 percent. The Company continues to focus on improving its cost base and accordingly, further post-merger integration steps were completed in the past quarter as planned. Further progress was made in consolidating subsidiaries, thereby leveraging further synergies within the Group. A slightly higher cost basis in the second quarter as compared with the prior year was mainly related to the earlier convening of the Annual General Meeting, and thus also a higher share of administrative costs, as well as legal costs related to the licensing dispute in the US.

The key figures for business development are as follows:

	IFRS, in EUR ´000	Q2	Q2	H1	H1	H1
		2024	2023	2024	2023	∆
	Revenues	19,473	18,365	38,030	36,269	4.9%
	Gross profit	7,130	6,740	14,093	12,421	13.5%
	EBITDA	1,187	1,279	2,735	1,551	76.4%
	EBITDA margin	6.1%	7.0%	7.2%	4.3%	2.9 PP
	EBIT	-1,072	-921	-1,735	-2,734	36.5%
	Result for the period	-1,745	-1,183	-2,367	-4,224	44.0%
	Earnings per share [in EUR]	-0.10	-0.07	-0.13	-0.25	48.0%
	Operating cash flow	—	—	4,315	2,899	48.8%
	Cash & cash equivalents (vs. 31 Dec. 2023)	—	—	14,443	17,416	-17.1%

The solid revenue and earnings performance is once again reflected in a very positive development of the operating cash flow. At EUR 4.3 million, this increased by 48.8 percent compared to the previous year (H1 2023: EUR 2.9 million). In addition to a favorable development of the income tax rate, high demand for renewals of expired contracts contributed to this development. As an increasing proportion of the contract portfolio will be up for renewal in the coming years, the Management Board expects this positive trend to continue.

In the CDMO division, the Company was able to recruit a proven expert, who started preparation of a new strategy for this area as the new division head. The Management Board are correspondingly confident about the further development of this business area in the second half of the year. In the area of Cell & Gene Therapies, the Group reached an agreement with the US licensor. The new know-how license agreement is limited in scope and includes technology and know-how previously transferred by the licensor to FamiCordTx and PBKM. The know-how license agreement secures access to the CAR-T technology, which is particularly needed for the modified projects, and provides for lower royalty payments by FamiCordTx and PBKM in the event of commercial use or sale without milestone payments.

Based on the positive business performance in the first half of the year, the Management Board confirms the outlook for the full-year 2024, which assumes revenue of between EUR 81 million and EUR 88 million and EBITDA of between EUR 6.5 million and EUR 8.0 million. The outlook is based on a constant exchange rate of the euro against the Polish zloty and other currencies (HUF, RON, TRY, GBP) compared to 29 April 2024.

The Management Board of Vita 34 AG will be available to institutional investors, analysts and representatives of the press today at 2:00 p.m. in a video conference to provide additional information on the business development. Registration for this is by e-mail via the Investor Relations department (ir@vita34.de).

Contact:
Vita 34 AG
Investor Relations
Phone: +49 (0341) 48792 – 40
Email: ir@vita34.de

Company Profile

Vita 34 was founded in Leipzig in 1997 and today is by far the leading cell bank in Europe and the third largest worldwide. As the first private umbilical cord blood bank in Europe and a pioneer in cell banking, the company has since offered the collection logistics, processing and storage of stem cells from umbilical cord blood, umbilical cord tissue and other postnatal tissues as a full-service provider for cryopreservation. Due to the expansion of the business model following the merger with PBKM, the company intends to invest in the areas of Cell & Gene therapies and CDMO. The body’s own cells are a valuable starting material for medical cell therapy and are kept alive in the vapor of liquid nitrogen. Customers from about 50 countries have already provided for the health of their families with around one million units of stored biological material at Vita 34.

 

RESULTS HIGHLIGHTS:

● The Revenue for the six months ended 30 June 2024 (“the Period”) was approximately HK$1,701.8 million, representing an increase of about 6.3% compared to the same period last year. Notably, the major European market accounted for 48.4% of the Group’s total, with sales growing by 16.2% compared to the same period last year.

● The Gross Profit Margin for the Period was approximately 53.7%, with a gross profit of about HK$914.0 million, represents an increase of approximately 5.4% compared to the same period last year.

● The Group’s Adjusted EBITDA for the Period was approximately HK$388.6 million, representing an increase of approximately 5.1% as compared to the same period last year.

● The profit from the Group’s core business for the Period was approximately HK$225.5 million, representing a growth rate of 7.2% compared to the same period last year.

● The Group’s Net Profit for the Period was approximately HK$214.4 million, representing an increase of approximately 1.9% as compared to the same period last year.

● With respect to the Group’s EBITDA and Net Profit for the Period, it should be noted that the figures reflect: (i) one-off cost in connection with potential acquisitions of approximately HK$2.8 million; and (ii) one-off cost in connection with Shenzhen and Vietnam production facility relocations of approximately HK$10.2 million.

● Basic earnings per share for the six months ended 30 June 2024 amounted to HK$22.59 cents.

● The Board declared an interim dividend of HK8.0 cents per ordinary share for the six months ended 30 June 2024.

● During the period under review, The Group’s digital solution cases (overseas and domestic) that are produced from its Mainland China production facilities increased to approximately 602,485 cases reflecting an increase of 61.1% as compared with the same period in 2023 as a result of our clients’ continued adoption of intra-oral scanners.

 

(29 August 2024, Hong Kong) – Modern Dental Group Limited (hereinafter referred to as “Modern Dental Group” or “the Group”, stock code: 03600.HK”), a leading global dental prosthetics provider, is pleased to announce the unaudited interim results for the six months ended 30 June 2024 (“the Period”).

 

During the six months ended 30 June 2024, although the macro-economic environment continues to be challenging, the Group’s multi-dimensional strategies and comprehensive products portfolio, encompassing higher-priced and cost-effective dental treatments, enabled the Group to capitalize on market opportunities by capturing new customers and increase its sales volume, displaying the Group’s ability to outperform its competitors throughout the economic cycle. The consolidation trend of the dental prosthetics industry is clearly continuing, and with the addition of our Vietnam production facility and Dongguan Phase 2 production facility – the Group has further improved its market positioning.

 

The Group’s continued sales increase represents a solid execution across each of the Group’s markets operationally and financially, illustrating the Group’s ability to deliver strong financial results in a relatively stable operating environment characterized by consistent order volume growth, competitiveness in the industry, and close relationship with its clients and customers. The Group’s underlying fundamentals continue to be solid and we are well-positioned to capture further opportunities going forward.

 

European Business

During the period under review, the European market recorded a revenue of approximately HK$822.9 million, representing an increase of approximately HK$112.9 million as compared with the six months ended 30 June 2023. This geographic market accounted for approximately 48.4% of the Group’s total revenue. The increase of revenue from the European market was attributable to the increase in sales order volume driven by the launch of new products, such as digital dentures, and our state-of-the-art digital workflows.

 

The Group has been the frontrunner providing comprehensive digital solutions offerings, ranging from numerous minimal invasive and aesthetic prosthetic solutions to intra-oral scanners and clear aligners, and is well positioned to capture the opportunities arising from the accelerated digitalization trend of the dental industry. The Group continues to aggressively gain market share from international and domestic competitors through our established dental ecosystem solutions with a focus on education and digitalization, which is available within close proximity to our clients; effectively meeting our clients’ high expectations through our various onshore and offshore resources.

 

North American Business

During the period under review, the North American market recorded a revenue of approximately HK$385.3 million. This geographic market accounted for approximately 22.6% of the Group’s total revenue.

 

Our clients’ interest surrounding digital dentistry continued to increase during the period. A significant portion of our business in the North America region comprises higher-end products manufactured domestically. With our centralized digital workflows and network oversight over our wide coverage of production units within the region, we are well positioned to support the customers’ needs through their digitalization journey, focusing on leveraging efficiencies and providing an enhanced customer experience throughout the network. Looking forward, the Group targets to utilize the Vietnam production facility to establish a new business unit specialized in serving mid/large scale dental clinic chains customers in the North American market.

 

Greater China Business

During the period under review, the Greater China market recorded a revenue of approximately HK$335.8 million. This geographic market accounted for approximately 19.7% of the Group’s total revenue. As a result of the increase in sales volume in the Mainland China market following the full implementation of the volume-based procurement policy in the Mainland China market gradually since the second half of 2023, our Mainland China business reported a sales growth of 9.5% in the Period compared to the same period last year but is offset by the depreciation of RMB against HK$ by 2.7%. However, this also led to aggressive promotions for dental implant treatments by Mainland China dental clinics in Hong Kong (which experienced a notable decrease in patient visits in Hong Kong).

 

The Group is optimistic in its mid/long-term outlook for this market in particular where the latest procurement-related government measures are expected to (i) standardize the pricing of dental prosthetics and develop price transparency, which would level the playing field; (ii) allow the Group’s leading brand name and reputation to be a key consideration for its client and customer; and (iii) have the Group benefit from its large production team and its ability to allocate resources efficiently according to the customer or client.

 

 

Australian Business

During the period under review, the Australian market recorded a revenue of approximately HK$127.9 million representing an increase of approximately HK$3.6 million as compared with the six months ended 30 June 2023. This geographic market accounted for approximately 7.5% of the Group’s total revenue. The increase of revenue from the Australian market was predominately due to the increase in sales volume as a result of the increase in market share driven by the digitalization trend in dental industry which is partially offset by the depreciation of AUD against HK$ by 2.8% compared with the six months ended 30 June 2023.

 

Through our various brands, which offer onshore-and offshore- made products, at multiple price points ranging from economy and standard to premium/boutique, the Group is able to effectively penetrate the entire Australian market.

 

Future Prospects

It is expected that the Group continues to consolidate the dental prosthetic market, and the Board is of the view that the consolidation trend is irreversible and clearly continuing. Therefore, notwithstanding any short- or medium-term challenges the global economy may face, the Board is confident that the Group is expected to outperform its competitors. In a year where some of the Group’s competitors had faced materially adverse issues, the Group continued to thrive and it is the Group’s ability to thrive during such uncertain economic conditions that give the Board comfort in its optimistic view of the Group.

 

Going forward, the Group aims to reinforce its worldwide leading position through opportunistic transactions including strategic co-operations, acquisitions, joint ventures and/or partnerships, to further expand and complement our product-offering (in particular, our clear aligner products), distribution and sales networks which will in turn, drive our business expansion. The Group continues to grow into more than just a one-stop shop dental prosthetic provider, but a full dental ecosystem to support our customers. The Group’s investment in Dongguan phase 2 and Vietnam production facilities are expected to provide the Group with greater production solutions and optionality which will in turn, increase the Group’s level of research and development in further enhancing our production and products.

 

Looking forward to 2024, with the Board’s extensive experience and determination to meet any short-term challenges, the Group is in an ideal position to take full advantage of, and will remain opportunistic in, any business opportunities whilst remaining cautious and prudent in safeguarding shareholders’ interests.

 

 

About Modern Dental Group

 

Modern Dental Group Limited (Stock code: 03600.HK) is a leading global dental prosthetics provider, distributor and consultant with a focus on providing custom-made prostheses to customers in the growing prosthetics industry. Our product portfolio is broadly categorized into three product lines: fixed prosthetic devices, such as crowns and bridges; removable prosthetic devices, such as removable dentures; and other devices, such as orthodontic devices, sports guards, clear aligners, and anti-snoring devices.

 

Modern Dental Group has a global portfolio of respected brands, including Labocast, Permadental and Elysee Dental in Western Europe, YZJ Dental in China, Modern Dental Lab in Hong Kong, Modern Dental USA in the United States, and Southern Cross Dental in Australia. We have grown these brands by providing premium and consistent quality products and superior customer service. We have more than 80 service centers in over 23 countries and serve over 30,000 customers.

MEDIA RELEASE

Medacta Enters Partnership with THINK Surgical for Robotic Total Knee Arthroplasty Solution

CASTEL SAN PIETRO, 29 August 2024 – Medacta Group SA (“Medacta”, SIX:MOVE), announces its partnership with THINK Surgical^®, an innovative leader in the field of open platform orthopedic robots, to provide its robotic, wireless hand-held TMINI^® Miniature Robotic System for total knee replacement surgery supporting both GMK Sphere and GMK SpheriKA, the world’s first knee implant designed specifically for Kinematic Alignment, a personalized and innovative technique that significantly increases patient satisfaction and facilitates a return to a healthy, active life¹.

“I am pleased to announce our collaboration with THINK Surgical in the US Market,” stated Matt Goudy, Managing Director and President of Medacta USA. “This partnership marks another step forward in our commitment to offering cutting-edge technologies that drive sustainable innovation forward and enhance our ability to deliver personalized solutions for surgeons and patients worldwide.”

The THINK Surgical TMINI system, when combined with GMK Sphere and GMK SpheriKA, adds further value to MyKA, the most comprehensive platform to safely and reproducibly perform Kinematic Alignment total knee replacement. Moreover, it complements the Medacta portfolio of enabling technologies designed for knee arthroplasty, providing surgeons with a robotic-assisted  option to execute meticulous 3D CT-based preoperative planning. This system will complement the MySolutions Personalized Ecosystem, a network of advanced digital solutions designed to improve patient outcomes and healthcare efficiency during the entire episode of care. This includes the flagship NextAR Augmented Reality Surgical Platform, a unique system that leverages patient-specific data to complement operative workflows, as well as MyKnee Patient Matched Technology and Efficiency KneePack, which is successfully used to provide patient-specific cutting blocks, single-use instrumentation, and implants in a single, one-time use kit.

While the MySolutions Ecosystem remains central to Medacta’s technology focus, the partnership with THINK Surgical will allow for the continued evaluation of robotics in the U.S. market, as well as Medacta’s specialized focus in the rapidly growing Ambulatory Surgery Center segment, in particular.

All Medacta products are supported by the comprehensive, tailored educational offerings provided by the M.O.R.E. Institute. With an international network of expert surgeons, the M.O.R.E. Institute is at the forefront of education with personalized, high-level educational pathways. With Medacta, the surgeon is never alone while discovering new technologies.

Contact

Medacta International SA
Gianluca Olgiati     
Group Vice President Marketing  
Phone: +41 91 696 60 60
media@medacta.ch

About Medacta

Medacta is a key global player specializing in the design, production, and distribution of innovative, personalized, and sustainable solutions for joint replacement, sports medicine, and spine surgery. Established in 1999 in Switzerland, Medacta is committed to improving the care and well-being of patients and maintains a strong focus on healthcare sustainability. Through close collaboration with expert surgeons globally, continuous investments in R&D, and the adoption of cutting-edge technologies, Medacta’s innovation prioritizes minimally invasive surgery and personalized solutions for every patient. Through the M.O.R.E. Institute, Medacta supports surgeons with a comprehensive and tailored program dedicated to the advancement of medical education. Medacta is headquartered in Castel San Pietro, Switzerland, and operates in over 60 countries. Follow us on Medacta TV, YouTube, LinkedIn and X.

RELATED TRADEMARKS

Medacta Group Related Trademarks are registered at least in Switzerland. The products and services listed below may not be all-inclusive, and other Medacta products and services not listed below may be covered by one or more trademarks. The below products and services may be covered by additional trademarks not listed below. Note that Swiss trademarks may have foreign counterparts. MySolutions™ Personalized Ecosystem, NextAR™, GMK^® SpheriKA, GMK^® Sphere, MyKA™, MyKnee^®.

THINK Surgical^® and TMINI^® are trademarks of THINK Surgical, Inc.

REFERENCE

[1] Niki Y, Nagura T, Kobayashi S, Udagawa K, Harato K. Who Will Benefit From Kinematically Aligned Total Knee Arthroplasty? Perspectives on Patient-Reported Outcome Measures. J Arthroplasty. 2020 Feb;35(2):438-442.e2. doi: 10.1016/j.arth.2019.09.035. Epub 2019 Sep 26. PMID: 31668528.