Portland's strategy on track
Wednesday, 25 June, 2008
Portland Orthopedics' (ASX: PLD) strategy of expanding the distribution of its hip replacement products in the US and Australian markets seems to be working, investors were told yesterday, but the company is yet to see profitability.
By the end of June Portland's artifical hips will have been implanted in 480 US patients and 100 Australian patients within the last 12 months, according to company predictions.
Portland has also lodged a non-renounceable rights issue, offering existing shareholders a one-for-one deal to raise up to $4 million.
The company said it had made major reductions in its operating costs, and is seeing a double-figure revenue increase in 2008 compared to the first half of the financial year.
Portland's next immediate goal is to achieve profitability and positive cash flow.
Protein-based therapy helps the body remove harmful cells
Scientists have created a protein-based therapeutic tool that could change the way we treat...
Diabetes changes the structure of our hearts, study finds
Type 2 diabetes directly alters the heart's structure and energy systems, which explains why...
Beta blockers could halt triple negative breast cancer
Researchers have identified a molecular biomarker in triple negative breast cancer tumours which...
