Medaphor Group plc trading update

MedaPhor Group plc (AIM: MED), the intelligent ultrasound software and simulation company,   announces that Group turnover for the year to 31 December 2018, which was generated entirely by the Group’s Simulation Division, is expected to grow by approximately 27% to between £5.3m and £5.4m (2017: £4.2m).  The pre-exceptionals EBITDA loss for the year is expected to be around £3m (2017: Loss, £1.7m). This includes approximately £1.5m of primarily R&D expenses attributable to investment in the Group’s Clinical Artificial Intelligence Division which was established with the acquisition of Intelligent Ultrasound Limited (“IUL”) on 6 October 2017 (3 months to 31 December 2017, IUL overheads: £0.2m).  Group management, PLC costs and share-based payment charges included in the adjusted loss are expected to be £0.9m (2017: £0.8m).

£4.86m net of costs was received in December from the placing and open offer (RNS: 40941, 26 November 2018) and cash at bank at 31 December 2018 was £5.5m (2017: £4.3m).