Sales at life sciences firm PuriCore have fallen as a result of delayed capital spending in the NHS, the company has announced.
In an interim management statement for the third quarter (1 July to 18 November 2011) sales at the US and UK based firm were $28.3 million (£18 million), a decrease of 6% on the comparative period last year.
Sales for the three quarters in PuriCore’s UK endoscopy and laboratory business decreased 13%. However, in the wound care business, sales from Vashe Wound Therapy achieved a 51% increase for the three quarters over the same period in 2010.
PuriCore is based in Pennsylvania in the US with operations in the UK in Stafford and Clevedon.
Chris Wightman, executive chairman of PuriCore, said the firm was confident of a strong finish to the year.
“With the ongoing capital purchasing delays in the UK, we have continued to focus on increasing recurring revenue, with a 72% increase in 2011, in order to insulate the business from NHS spending policy changes though we are seeing some easing of NHS spending constraints in Q4 and into 2012.
“Our Wound Care business shows steady growth as the awareness and acceptance of our bottled Vashe product expands with healthcare providers and key opinion leaders. Later this year, revenues are expected from our new distribution agreement with Misonix, further expanding our reach in the wound care market and underpinning profitability for this division in the future.
“The board remains confident in the future profitability of each division individually and for the business collectively in 2012. We believe the current business mix will deliver both robust growth and significant cash generation and that we will continue to make progress on promising new business opportunities.”
Source: HealthInvestor
published: November 22, 2011 in: Companies, Financial, Products