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(“Belluscura” or the “Company” or “Group”)
Manufacturing and Trading Update
Demand for X-PLO2R™ portable oxygen concentrators significantly exceeds expectations
LONDON, U.K. AND PLANO, TX, U.S. (4 November 2021). Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces a manufacturing and trading update for the 12-month period ended 31st. December 2021, highlighting that demand for the X-PLO2R™ portable oxygen concentrator has significantly exceeded the Board’s initial expectations.
Following the signing of five distribution agreements in as many months within North America, and initial product sales in September 2021, the Company has now exceeded its anticipated sales volume for the financial year ending 31st. December 2021 (“FY21”), albeit these, were relatively modest targets. However, conversations with distributors and the reception to date from customers are such that the Board is confident the expected run rate for unit sales and revenue for FY22 will be materially ahead of current market forecasts.
Based upon the current growth prospects and opportunities, the Company has entered into an updated partnership agreement with its US-based manufacturing partner to increase production capacity to meet anticipated demand for FY22 and beyond.
The Board expects to update shareholders on the full-year outcome for FY21 in early January 2022.
Robert Rauker, CEO of Belluscura plc, commented: “Market reception for the X-PLO2R™ has been positive and initial demand has been very strong. The recent addition of a fifth distributor in North America gives us the confidence to substantially expand our manufacturing capacity to meet demand in the coming years. With the Company now poised to exceed the manufacturing and sales targets set at IPO, we can look to the future with confidence.”
For further information please contact:
|Robert Rauker, Chief Executive Officer||via Walbrook PR|
|Anthony Dyer, Chief Financial Officer|
|SPARK Advisory Partners Limited (NOMAD)||Tel: +44 (0)20 3368 3550|
|Dowgate Capital Limited (Broker)||Tel: +44 (0)20 3903 7715|
|James Serjeant / Nicholas Chambers|
|Walbrook PR Ltd (Media & Investor Relations)||Tel: +44 (0)20 7933 8780 or firstname.lastname@example.org|
|Paul McManus / Sam Allen||Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258|
About Belluscura plc (www.belluscura.com)
Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers, and insurance organizations.