Vycor
Medical (OTCQB: VYCO) provides the medical world with new, unique therapeutics,
neurosurgical and neurotherapeutic solutions. The company designs, manufactures
and sells FDA-cleared medical devices alongside its computer-based light
simulation therapies for the visibly impaired resulting from neurological
trauma such as strokes. Vycor Medical is made up of a range of therapies and
systems including: the ViewSite Brain Access System (VBAS), the NovaVision
Restoration Therapy (VRT), the Sight Science Neuro-Eye Therapy (NeET), and the
NovaVision NeuroEyeCoach (NEC).
Vycor
Medical is committed to providing the best solutions and therapies in the
market, with the aim of making neurosurgical brain, spinal and surgical
procedures safer and more effective. All of the company’s products are built
with one core goal in mind: increased safety. To do this, each product has been
designed to optimize site access, reduce risks for patients, speed up the
recovery process, and to add value and quality to the medical world.
Most
recently, Vycor Medical reported its financial results for the three and six
months ended June 30, 2016. The company’s revenue for the first quarter of this
year was $379,000, up from $286,000 during the same period of 2015. Revenue for
the Vycor division was also up by over 50%, and reports of patients starting NovaVision
therapy were also up by more than 50% compared to 2015. The company reported
expenditures to be 59% lower than in 2015 and non-GAAP net loss was nearly a
quarter of the amount in 2015.
Vycor
Medical’s revenues for the six months before June 30, 2016, were up by more
than $150,000 compared to 2015. Revenues for the Vycor division and new patient
starts in NovaVision were both up by more than 40%. Expenditures for the
company were halved compared to 2015, as was the non-GAAP net loss. The company
plans to continue growing its two businesses while maintaining low costs, with
Vycor Medical decreasing expenditures and focusing its NovaVision attention on
a direct-to-patient website and social media efforts.
For
more information, visit www.vycormedical.com
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