C-RAD: Strong Growth in 2013

Press release 2014-1-13

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| Source: C-Rad AB

C-RAD AB with its three fully owned subsidiaries and three international sales companies are all active in the field of radiation therapy. C-RAD concluded the year 2013 with a significant increase in bookings and sales.

In 2013 revenues summed up to 45 MSEK, which is an increase of +74% compared to the year 2012. In the same period bookings concluded with 50 MSEK. This equals to an increase of +51% relative to 2012. [1]

 

In 2013 C-RAD focused on the global expansion of the sales and distribution network. Local representations in the strategic markets have been established or further developed. Whereas in the Nordic region sales of the Sentinel and Catalyst products showed a stable development, the US market, Asia and the DACH region – which includes Germany, Austria and Switzerland – showed in percent a three digit increase in bookings.

 

In December 2013 C-RAD launched the Catalyst HD system to the market. Orders from customers in Europe and North America have already been booked after the release.

Catalyst HD is based on the patented C-RAD technology. With a unique arrangement of multiple 3D cameras and newly developed software, the system is convincing with superior performance for all treatments where couch rotations are applied.

 

In March 2013 C-RAD acquired 29% of the laser company Cyrpa with an option to acquire the remaining 71%.

 

 

Tim Thurn, CEO of C-RAD AB:

“I am proud on the prosperous growth that the company achieved in the last year. The results confirm that the current expansion strategy is successful. We have prepared the company for further growth in the next years with new product developments, an increased strong sales force and the investment in Cyrpa. Therefore we have started confidently with ambitious targets in the year 2014.“

 

[1] Minor deviation might occur within the final report.

 

About C-RAD

C-RAD develops new and innovative solutions for the use in advanced radiation therapy. The company group of C-RAD offers products and solutions for patient positioning, tumor localization and radiation treatment systems. End users are radiation therapy clinics worldwide. All product development is conducted in three fully owned subsidiaries; C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB. C-RAD Imaging AB is located in Östersund while the other companies are located in Uppsala. Numbers of employees are currently 28 people. The activities in C-RAD AB originate from research and development at the Karolinska Institutet in Solna. Sales of the company’s first product, the C-RAD SentinelTM, started in 2007. Cooperation agreements have been signed with the Swedish company Elekta, the US company Varian and the Belgian company IBA. C-RAD is represented by distributors specialized in radiation therapy on major markets. C-RAD has founded three companies for direct sales, C-RAD Incorporated in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. C-RAD has acquired 29 % of the laser company Cyrpa and with an option to acquire the remaining 71 %. C-RAD AB is since March 2010 listed at Nasdaq Omx First North Premier.

For more information on C-RAD, please visit www.c-rad.com.

 

 

For further information:

Tim Thurn, CEO C-RAD AB, Phone +46-18-666931, E-mail investors@c-rad.com