Sensus Healthcare Sells SRT System to Providence Swedish Hospital

Rhea-AI Summary

Sensus Healthcare (Nasdaq: SRTS) has shipped an SRT system to Providence Swedish Hospital in Seattle, marking its latest success in expanding to community hospital oncology departments. The sale highlights growing interest in superficial radiotherapy (SRT) for treating non-melanoma skin cancer and keloids on an outpatient basis.

Dr. Christopher Loiselle, Medical Director of Radiation Oncology at Swedish Cancer Institute, praised the SRT system as state-of-the-art for treating skin cancers and other superficial conditions. Joe Sardano, CEO of Sensus Healthcare, expressed delight in Providence Swedish Hospital's recognition of SRT benefits and noted increasing inquiries from hospitals nationwide about offering non-invasive skin cancer treatments.

Positive

• Shipped an SRT system to Providence Swedish Hospital, expanding customer base
• Growing interest in SRT from community hospital oncology departments
• Increasing inquiries from hospitals nationwide about non-invasive skin cancer treatments

Negative

• None.

Insights

Medical Research Analyst

The sale of an SRT system to Providence Swedish Hospital marks a significant milestone for Sensus Healthcare in expanding its customer base to hospital oncology departments. This development is positive for the company's growth strategy and market penetration.

Key points to consider:

• The adoption by a prominent hospital like Providence Swedish validates the efficacy and market acceptance of Sensus' SRT technology.
• Expanding into hospital settings opens up a new revenue stream beyond traditional dermatology practices.
• The non-invasive nature of SRT aligns with the growing trend towards outpatient treatments, potentially increasing hospital efficiency and patient satisfaction.
• This sale could serve as a reference point for other hospitals, potentially accelerating future adoptions.

While a single sale doesn't dramatically alter Sensus' financial outlook, it represents a strategic win that could lead to increased sales and market share in the hospital sector. Investors should monitor future hospital adoptions as an indicator of the company's expanding market reach and potential revenue growth.

Financial Analyst

This news, while positive, has immediate financial impact on Sensus Healthcare. However, it signals potential for future growth:

• The sale price of a single SRT system is not disclosed, but it's unlikely to significantly affect current quarter revenues given Sensus' $90.96 million market cap.
• More importantly, this sale represents a strategic entry into the hospital market, which could lead to a new, scalable revenue stream.
• Hospitals typically have larger budgets and patient volumes compared to private practices, potentially leading to higher-value, repeat customers.
• If successful, this hospital strategy could improve Sensus' revenue predictability and growth rate over time.

Investors should watch for:

• Increase in hospital sales as a percentage of total revenue in future earnings reports.
• Improvements in gross margins if hospital sales lead to economies of scale.
• Any updates on the sales pipeline for hospital oncology departments.

While promising, it's important to see if this translates into a sustained trend before significantly impacting the company's valuation.

Continues customer expansion to hospital oncology departments for the outpatient treatment of non-melanoma skin cancers

BOCA RATON, Fla., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Sensus Healthcare, Inc. (Nasdaq: SRTS), a medical device company specializing in highly effective, non-invasive, minimally-invasive and cost-effective treatments for oncological and non-oncological conditions, announces it has shipped an SRT system to Providence Swedish Hospital in Seattle.  This sale represents the Company’s latest success in generating interest in superficial radiotherapy (SRT) from community hospital oncology departments.

Christopher Loiselle, M.D., Medical Director of Radiation Oncology at Swedish Cancer Institute at Providence Swedish, said, “Sensus’ SRT system is a state-of-the-art system for optimal treatment of skin cancers and other superficial conditions.  We look forward to offering this non-invasive treatment in concert with our multi-disciplinary oncology and dermatology programs.”

Joe Sardano, chairman and chief executive officer of Sensus Healthcare, said, “Providence Swedish Hospital is a leader in Seattle and the Puget Sound area, and we are delighted their radiation oncology department has recognized the benefits of SRT for treating non-melanoma skin cancer and keloids.  We have been working diligently to address the hospital sales opportunity and are receiving a growing number of inquiries from hospitals around the country as they consider making non-invasive skin cancer treatments available on an outpatient basis. Our SRT systems offer an ideal non-surgical, painless and cosmetically appealing option while also helping hospitals to improve resource utilization.”

About Providence Swedish

Providence Swedish has served the Puget Sound region since the first Providence hospital opened in Seattle in 1877 and the first Swedish hospital opened in 1910. The two organizations affiliated in 2012 and today comprise the largest healthcare delivery system in Western Washington, with 22,000 caregivers, eight hospitals and 244 clinics. A not-for-profit family of organizations, Providence Swedish provides more than $406 million in community benefit in the Puget Sound Region each year. The health system offers a comprehensive range of services and specialty and subspecialty care in a number of clinical areas, including cancer care, cardiovascular health, neurosciences, orthopedics, digestive health and women’s and children’s care. 

About Sensus Healthcare

Sensus Healthcare, Inc. is a global pioneer in the development and delivery of non-invasive treatments for skin cancer and keloids. Leveraging its cutting-edge superficial radiotherapy (SRT and IG-SRT) technology, the company provides healthcare providers with a highly effective, patient-centric treatment platform. With a dedication to driving innovation in radiation oncology, Sensus Healthcare offers solutions that are safe, precise, and adaptable to a variety of clinical settings. For more information, please visit www.sensushealthcare.com.

Forward-Looking Statements

This press release includes statements that are, or may be deemed, ''forward-looking statements.'' In some cases, these statements can be identified by the use of forward-looking terminology such as "believes," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "will," "should," “approximately,” "potential" or negative or other variations of those terms or comparable terminology, although not all forward-looking statements contain these words.

Forward-looking statements involve risks and uncertainties because they relate to events, developments, and circumstances relating to Sensus, our industry, and/or general economic or other conditions that may or may not occur in the future or may occur on longer or shorter timelines or to a greater or lesser degree than anticipated. In addition, even if future events, developments, and circumstances are consistent with the forward-looking statements contained in this press release, they may not be predictive of results or developments in future periods. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from the forward looking statements contained in this press release, as a result of the following factors, among others: our ability to maintain profitability; our ability to sell the number of SRT units we anticipate for the balance of 2024; the possibility that inflationary pressures continue to impact our sales; the level and availability of government and/or third party payor reimbursement for clinical procedures using our products, and the willingness of healthcare providers to purchase our products if the level of reimbursement declines; the regulatory requirements applicable to us and our competitors; our ability to efficiently manage our manufacturing processes and costs; the risks arising from doing business in China and other foreign countries; legislation, regulation, or other governmental action that affects our products, taxes, international trade regulation, or other aspects of our business; concentration of our customers in the U.S. and China, including the concentration of sales to one particular customer in the U.S.; the performance of the Company’s information technology systems and its ability to maintain data security; our ability to obtain and maintain the intellectual property needed to adequately protect our products, and our ability to avoid infringing or otherwise violating the intellectual property rights of third parties; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

To date, we do not expect that the Middle East conflict, the Russian invasion of Ukraine and global geopolitical uncertainty have had any particular impact on our business, but we continue to monitor developments and will address them in future disclosures, if applicable.

Any forward-looking statements that we make in this press release speak only as of the date of such statement, and we undertake no obligation to update such statements to reflect events or circumstances after the date of this press release, except as may be required by applicable law. You should read carefully our "Introductory Note Regarding Forward-Looking Information" and the factors described in the "Risk Factors" section of our periodic reports filed with the Securities and Exchange Commission to better understand the risks and uncertainties inherent in our business.

Contact:
LHA Investor Relations
Kim Sutton Golodetz
212-838-3777
kgolodetz@lhai.com

FAQ

What is the latest sale announced by Sensus Healthcare (SRTS)?

Sensus Healthcare (SRTS) has announced the sale and shipment of an SRT system to Providence Swedish Hospital in Seattle.

How does the SRT system benefit Providence Swedish Hospital?

The SRT system provides Providence Swedish Hospital with a non-invasive, painless, and cosmetically appealing option for treating non-melanoma skin cancer and keloids on an outpatient basis.

What market opportunity is Sensus Healthcare (SRTS) pursuing with this sale?

Sensus Healthcare (SRTS) is pursuing the hospital sales opportunity, specifically targeting community hospital oncology departments for the adoption of superficial radiotherapy (SRT) systems.

What conditions can be treated with Sensus Healthcare's (SRTS) SRT system?

The SRT system from Sensus Healthcare (SRTS) can be used to treat non-melanoma skin cancer, keloids, and other superficial conditions.