SUWANEE, Ga., Jan. 26, 2017 (GLOBE NEWSWIRE) -- SANUWAVE Health, Inc. (OTCQB:SNWV) today announced that they achieved revenue in a range of $640,000 - $650,000 for its fourth quarter ending December 31, 2016. SANUWAVE had previously announced expectations of $450,000 - $650,000 of revenue for the fourth quarter. The final revenue will be announced upon filing of Form 10-K with the SEC in March 2017.
“We made a strong commitment to the international business market eighteen months ago and it is now showing strong sales momentum in many parts of the world. The acceptance of our shock wave device as a premier way of treating DFU’s globally gives us confidence that we will be able to continue this momentum,” stated Kevin A. Richardson II, Chairman of the Board of SANUWAVE Health. “We will relaunch in some countries which we had previously underutilized as well as add new countries throughout 2017. We enter 2017 with a significant backlog of orders giving us decent visibility in the near term.”
“The team did a great job to meet the strong demand; this is in the face of many changes we made to set ourselves up for future success. We are also excited for 2017 as we have a number of case studies and clinical studies taking place around the globe which should positively support the sales of the entire company,” continued Mr. Richardson. “We will provide further details on 2016 results after we file our 10-K in mid-March and hold a conference call about the same time.”
About SANUWAVE Health, Inc.
SANUWAVE Health, Inc. (www.sanuwave.com) is a shock wave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, Australia and New Zealand. In the U.S., dermaPACE is currently under the FDA’s Premarket Approval (PMA) review process for the treatment of diabetic foot ulcers. SANUWAVE researches, designs, manufactures, markets and services its products worldwide, and believes it has demonstrated that its technology is safe and effective in stimulating healing in chronic conditions of the foot (plantar fasciitis) and the elbow (lateral epicondylitis) through its U.S. Class III PMA approved OssaTron® device, as well as stimulating bone and chronic tendonitis regeneration in the musculoskeletal environment through the utilization of its OssaTron, Evotron® and orthoPACE® devices in Europe, Asia and Asia/Pacific. In addition, there are license/partnership opportunities for SANUWAVE’s shock wave technology for non-medical uses, including energy, water, food and industrial markets.
Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the key risks, assumptions and factors that may affect operating results, performance and financial condition are risks associated with the regulatory approval and marketing of the Company’s product candidates and products, unproven pre-clinical and clinical development activities, regulatory oversight, the Company’s ability to manage its capital resource issues, competition, and the other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statement.
For additional information about the Company, visit www.sanuwave.com.