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Electromed, Inc. (NYSE MKT: ELMD) is a Minnesota-based company recognized as an innovative leader in the development, manufacture, and worldwide distribution of the SmartVest® Airway Clearance System. This patented system leverages High-Frequency Chest Wall Oscillation (HFCWO), offering a well-tolerated alternative to traditional chest physiotherapy (CPT). The system is designed to deliver effective and comfortable airway clearance treatment for patients suffering from the consequences of retained secretions.
Clinically proven, HFCWO technology helps clear the lungs of excess mucus, thereby improving lung function and reducing infections for individuals with conditions such as atelectasis, COPD, bronchiectasis, neuromuscular diseases, and cystic fibrosis. Electromed, Inc. is accredited by the Joint Commission and holds ISO 13485:2003 and ISO 9001:2008 certifications, demonstrating their commitment to quality and safety.
The SmartVest System consists of a programmable air pulse generator, a therapy garment worn over the upper body, and a connecting hose. Together, these components provide a safe, comfortable, and effective airway clearance therapy that enhances the quality of life for patients with compromised pulmonary function.
Electromed, Inc. continuously strives for excellence and compassionate service. Their products are designed with patient comfort and usability in mind, ensuring that users receive the best possible care. With a global reach, the company is dedicated to improving respiratory health for patients worldwide.
Stay updated with the latest developments, achievements, and financial performance of Electromed, Inc. by following their news and updates. The company's ongoing projects and partnerships underscore its commitment to innovation and excellence in the field of airway clearance therapy.
Electromed, a leader in airway clearance technologies (NYSE American: ELMD), announced the participation of Kathleen Skarvan, President and CEO, and Brad Nagel, CFO, at the Inaugural EF Hutton Global Conference in New York City on May 10-11, 2023. The management team will hold one-on-one meetings on May 11, 2023, providing an opportunity for investors to learn more about Electromed's innovative airway clearance solutions, including the SmartVest® Airway Clearance System. Founded in 1992 and headquartered in New Prague, Minnesota, Electromed focuses on products that assist patients with compromised pulmonary function. For more details, visit www.smartvest.com.
Electromed, Inc. (AMEX: ELMD) will release its fiscal 2023 third quarter financial results on May 9, 2023, after market close. A conference call to discuss the results is set for the same day at 5:00 p.m. Eastern Time. Interested participants can join by calling (888) 999-5318 for domestic or (848) 280-6460 for international lines. The live webcast will be available on Electromed's Investor Relations website. For those unable to join live, a replay will be accessible via phone and online, using the provided links. Electromed specializes in airway clearance technologies, notably the SmartVest® Airway Clearance System, serving patients with compromised pulmonary function.
Electromed (NYSE American: ELMD) reported record net revenue of $11.7 million for Q2 FY 2023, reflecting a 15% increase from $10.2 million in Q2 FY 2022. Homecare revenue grew 14% year-over-year to $10.7 million. Operating income rose to $1.3 million from $1.1 million in Q2 FY 2022, while net income increased to $977,000, or $0.11 per diluted share. Gross profit was $8.68 million, comprising 74% of net revenues, despite rising material and shipping costs. The company reported cash of $6.9 million and ongoing expansion efforts in its sales force and product offerings, including the new SmartVest® Clearway® system.
Electromed, Inc. (AMEX: ELMD) announced that Kathleen Skarvan will retire as President and CEO effective around July 1, 2023. She will transition to a chair role on the board. Skarvan has led the company since 2012, overseeing a tripling of revenues and consistent profitability since 2015. Under her leadership, Electromed executed a strategic growth initiative, enhancing their commercial team and market share. The Board is actively seeking a successor with the help of an executive search firm. Skarvan expressed confidence in the company's future and commitment to ensuring a smooth leadership transition.
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