Health Robotics has announced its financial results for the six month period 1H2011. The Gross Revenues hit $9.4 million and Gross Margins were at $7.3 million. These represented an increase of 42% and 72% compared to the previous year.
Gaspar DeViedma, Health Robotics' Executive Vice President said that they were quickly moving within reach of their objective to restore Health Robotics to its historical margins (80% Gross-20% Net) and double-digit top-line growth, while continuing to win 100% of World's I.V. Robot purchases over the past 18 months.
He added that given these positive results in overcoming the problems caused by our prior distributors in selected markets, the company intends to diligently continue channel partner line-up switches to direct sales strategies in local markets where our distributors under-perform Health Robotics' own standards.
Mr. DeViedma also said that Health Robotics' plans for the remainder of 2011 include: a) continuing the considerable infrastructure and staff investments required to totally replace McKesson Automation's now-terminated duties and obligations in the United States of America and Canada; b) the expansion of Health Robotics' direct sales and customer operations in Italy, Belgium, Netherlands, France, and Luxembourg; c) additional channel-strategy changes with under-performing distributors; and d) i.v.STATION ONCO's beta-tests and regulatory certifications.