News: Uscom targets revenue growth with acquisition of Thor Laboratories

Uscom (ASX:UCM) has completed the acquisition of revenue stage medical device Thor Laboratories, which will expand the company’s international footprint.

This will increase its revenue by $500,000 and support its forecast FY2016 revenue estimate of $3.5 million.

Uscom had revenue of $2.04 million in FY2015, up from $1.38 in FY2014, and cash of $2.5 million.

Thor specialises in high fidelity digital Doppler technology for measurement of respiratory function and has partnered Cohero Health in New York for the development and marketing of personal asthma monitoring products.

It also has internationally accredited manufacturing, research and development as well as engineering facilities along with an established distribution network, primarily in Europe, and multiple CE/TGA/FDA approved products, each with re-imbursement.

The Thor manufacturing facilities in Budapest will provide expanded manufacturing capacity to meet the increased demand for USCOM 1A, and the US marketing of Uscom BP+, and the expansion of Thor products into the US following FDA approval in June 2015.

In addition, Thor’s spirometric devices will expand Uscom technology into practice leading positions in cardiac, vascular and pulmonary applications.