25th Jul 2018 10:49
LONDON (Alliance News) - Teleradiology firm Medica Group PLC said Wednesday it expects full year results to meet expectations, with interim revenue growth strong.
Shares were 6.8% higher on Wednesday at 123.94 pence each.
Teleradiology is the transfer of radiological patient images, such as x-ray and CT scans, from one location to another between medical professionals.
For the six months to June, Medica revenue is expected to be GBP18.6 million, compared to GBP13.4 million a year prior. Organically, this would be an 18% increase year-on-year, with demand for its NightHawk and Cross Sectional products growing.
During the six month period, Medica added 33 radiologists net to its services, meaning it now has 339 in total compared to 306 at the end of 2017.
Chief Executive John Graham said: "Medica continues to make good progress with its strategic objectives of developing the core business and broadening the services we offer. We have increased market penetration of our NightHawk and Cross Sectional services and delivered double-digit organic revenue growth in the first half of 2018."
"We have also added 33 radiologists and have a strong pipeline for further recruitment during the rest of the year. Our first half performance gives us confidence we remain on track for the full year."
Medica will announce its results for the six months to June 30 on September 12.
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