SuperSonic Imagine said today it inked a U.S. distribution deal with Sandhill Scientific to distribute its Aixplorer ShearWave Elastography-equipped ultrasound system designed to assess liver disease, along with releasing its 2015 earnings.
Through the agreement, Sandhill will have rights to sell the Aixplorer ultrasound system to gastroenterologists and hepatologists from March 14, while SuperSonic Imagine will keep its direct sales force targeted on radiology, breast and other clinical segments, the company said.
Highlands Ranch, Colo.-based Sandhill Scientific develops and produces gastrointestinal diagnostic solutions.
“We are excited about this collaboration and to support SuperSonic Imagine’s continued growth in the United States; we are convinced that this technology will be rapidly adopted by the market segment. This partnership will allow us to leverage our market experience by providing customers with a superior technology for the screening, staging and monitoring of patients with chronic liver disease,” Sandhill Scientific veep & GM Stuart Wildhorn said in a press release.
The company also announced its 2015 earnings, seeing losses grow faster than revenue for the year compared to 2014. SuperSonic Imagine reported losses of $14 million (EU €12.7 million) on sales of $24 million (EU €21.7 million) for the year..
That amounts to a 14.9% growth in losses as sales grew only 0.6% compared with 2014. SuperSonic imagine saw shares lift 2.3% today, trading at $1.76 as of 12:27 p.m. EDT.
“We are pleased to partner with Sandhill’s highly motivated sales team and leverage their expertise working with gastroenterologists and hepatologists in order to extend our sales presence throughout the USA. This agreement is another step forward in bringing advanced ultrasound technology to help those suffering from liver diseases, reduce the number of unnecessary biopsies which lowers healthcare costs, and ultimately improves patient outcomes. We are aware of Supersonic Imagine’s company underperformance in 2015 and have undertaken strong measures to improve our internal organization and our commercial strategy in order to expand our presence in 2 high value markets, breast and liver. More than ever we are determined to intensify our efforts to return to a growth level in line with our shareholders’ expectations as well as ours,” SuperSonic Imagine CEO Bernard Doorenbos said in prepared remarks.
