{"id":11104,"date":"2024-06-19T02:18:48","date_gmt":"2024-06-19T02:18:48","guid":{"rendered":"https:\/\/economicherald.net\/?p=11104"},"modified":"2024-06-19T02:18:48","modified_gmt":"2024-06-19T02:18:48","slug":"cardiex-eyes-record-revenue-as-new-product-line-gains-momentum","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=11104","title":{"rendered":"Cardiex eyes record revenue as new product line gains momentum"},"content":{"rendered":"<p>Cardiex shares climb 15% on news the company is set to surpass its FY24 revenue projections<br \/>\nCompany is on track to double FY23 revenue amid a pipeline of new products and strategic partnerships<br \/>\nThe company has also announced its first global physician partnership and a new National telehealth partnership<\/p>\n<p>\u00a0<\/p>\n<p><strong>Special Report: <\/strong><a href=\"https:\/\/stockhead.com.au\/company\/cardiex-cdx\/\" target=\"_blank\" rel=\"noopener\"><strong>Cardiex Limited<\/strong><\/a><strong> (ASX:CDX) shares closed up 15% on Tuesday on news the medtech is set to surpass FY24 revenue projections.<\/strong><\/p>\n<p>Cardiex is on track to exceed $12 million in revenue for FY24, doubling last year\u2019s $6.01 million. The growth is attributed to strong performances in both the pharma sales group and traditional research and clinician markets.<\/p>\n<p>Sales to the research sector hit a six-month high in May, and with June typically being a peak sales month, the company is confident of closing the financial year with strong research sales figures.<\/p>\n<p>CEO Craig Cooper said recent leadership changes in the pharma team have sparked active dialogues around new clinical trial opportunities, ensuring sustained growth into FY25.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Innovative Product Launches and Pre-Sales Success<\/strong><\/h2>\n<p>Cardiex\u2019s <a href=\"https:\/\/stockhead.com.au\/health\/cardiexs-conneqt-pulse-included-on-the-us-blood-pressure-validated-device-list\/\" target=\"_blank\" rel=\"noopener\">much anticipated Conneqt Pulse<\/a>, which represents a significant advancement in home health monitoring, is set to debut in July, with initial units being distributed to pilot partners, key opinion leaders and members of Cardiex\u2019s clinician network.<\/p>\n<p>The first full production run of 3,000 units is scheduled for later in Q1FY25, with the company well-prepared for demand thanks to a robust chip inventory.<\/p>\n<p>The Conneqt Pulse has generated significant pre-launch interest. Craig Cooper said the relaunched ConneqtHealth.com features a \u201cwaitlist\u201d campaign that has already attracted substantial attention.<\/p>\n<p>\u201cWe\u2019re expecting more than 20,000 waitlist signups by the time orders commence, driven by targeted marketing efforts focused on the consumer and patient segments,\u201d he said.<\/p>\n<p>Cardiex anticipates submitting its over-the-counter (OTC) FDA clearance for the Conneqt Pulse early in Q2 FY25, alongside FDA clearance submissions for its Conneqt Band wearable technology.<\/p>\n<p>Additional regulatory applications, including TGA submission for the Pulse and clearances for the Company\u2019s XCEL SphygmoCor device in new Asian markets, are also in progress.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Strategic Partnerships and Telehealth Integration<\/strong><\/h2>\n<p>Cardiex has also secured its first global physician partnership with PhysioAge, a network specialising in naturopathic, functional, and longevity medicine.<\/p>\n<p>The collaboration will see the Conneqt Pulse integrated across PhysioAge\u2019s global clinician network, enhancing patient care through advanced arterial health monitoring.<\/p>\n<p>Additionally, a newly announced partnership with Heartbeat Health, the largest decentralised cardiology practice in the US, promises to enhance the Conneqt Pulse user experience.<\/p>\n<p>Heartbeat Health will offer telehealth services, including virtual consultations for initial device prescriptions and quarterly cardiology reports.<\/p>\n<p>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Cardiex, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/cardiex-eyes-record-revenue-as-new-product-line-gains-momentum\/\">Cardiex eyes record revenue as new product line gains momentum<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Cardiex shares climb 15% on news the company is set to surpass its FY24 revenue projections Company is on track to double FY23 revenue amid <a href=\"https:\/\/economicherald.net\/?p=11104\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":11105,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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