Scottish company Axis Shield posted positive financial performance in August 2009, following strong demands for its diabetes testing machine.
By the end of June 2009, Axis Shield had sold a total of 5,000 Afinion machines, compared to 4,000 machines sold during the whole of 2008. The company expects to sell a further 2,500 machines by the end of the year, with 50% of sales in the US.
The Afinion machine can screen blood or urine samples for diabetes indicators. The company now plans to market an Afinion test for high sensitivity C-Reactive Protein (hs-CRP), an indicator of cardiovascular disease, and has also secured rights to a new test for sepsis diagnosis.
For the six months up to 30th June 2009, pre-tax profit more than quadrupled, rising from £1.6 million to £7.5 million. Axis Shield ‘s sales amounted to £50.6 million in the same period, rising by 18.5%. The Point-of Care division’s sales amounted to £22.1 million, a rise of 27.3%, while sales from the Laboratory division rose by 23.0% to total £12.8 million.
Further reading - A detailed review of the UK medical device market is available from Espicom: The Medical Device Market: United Kingdom (published June 2009)
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