Tuesday, February 23, 2016

Avadim Technologies delivers record monthly gross revenue of more than $500,000

Avadim Technologies, Inc. (“Avadim”), a life sciences company delivering Pathogenesis-Based Therapies (“PBTs”), which work to optimize the stratum corneum, integumentary functions and the associated reactive tissue, announced today record gross revenue for January 2016. For the month ended January 31, 2016, Avadim generated consolidated unaudited gross revenue of approximately $504,000 as compared to revenue of $147,000 for the same month the prior year, an increase of 243%.

Revenue growth was mainly attributable to the continued growth and market acceptance of the Company’s Series 100 Infection Prevention and Series 200 Neuromuscular Disorders therapies. Avadim experienced growth within its existing hospital customers through the introduction of additional therapies such as ICU Bathing. Additionally, the Company is steadily increasing the number of hospitals utilizing its therapies. New customers adapting our Series 200 therapies include Florida State University, LSU, Xavier, NC State and Florida International. 

Steve Woody, Chairman and CEO of Avadim Technologies, stated, “Following our record-setting annual revenue posted in 2015, we sustained that growth in the new year with a monthly sales record in January. We truly feel our journey has only just begun, as everyone is fully focused on making 2016 another record year for Avadim.”

The estimated gross revenue presented in this release are based on preliminary financial data and are subject to change until the year-end financial reporting process is completed.

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