30th Sep 2019 11:36
(Alliance News) - Concepta PLC said Monday its loss for the first half of 2019 narrowed due to lower costs and maiden revenue from its myLotus fertility monitoring device.
Also, the fertility focused healthcare company announced its first UK fertility clinic collaboration with the Manchester Fertility Clinic, which provides intrauterine insemination procedures.
Intrauterine insemination is a fertility treatment that involves placing sperm inside a woman's uterus to facilitate fertilization.
Manchester Fertility will be the first clinic to use Concepta's myLotus product for its IUI procedures, which will allow women to monitor their fertility progress outside the clinic. Integration of myLotus is expected to be completed in October, and will provide greater accuracy around the user's readiness for insemination.
"We are extremely proud and delighted to announce our first collaboration with Manchester Fertility and the advance of myLotus for use in assisted reproduction cycles. We expect to build our fertility clinic developments over the short term and look forward to supporting all our users on their pregnancy journey," said Chair Matthew Walls.
For the six months to the end of June, Concepta reported a pretax loss of GBP1.3 million from GBP1.5 million the year before, as administrative costs dipped to GBP1.1 million from GBP1.2 million.
The company also generated revenue of GBP15,717 from initial myLotus product sales.
Looking ahead, Concepta said it remains focused on revenue growth, by accelerating its UK sales, starting sales in the EU and the expansion of myLotus to new markets including Ireland, Germany France and Italy.
Shares in Concepta were down 7.9% at 1.59 pence on Monday.
By Dayo Laniyan; [email protected]
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