Volpara Health Technologies FY21 Results
Wellington-based company Volpara Health Technologies (ASX:VHT) has good reason to feel buoyant.
The breast screening focussed health tech company has just announced full year results showing an almost 60 per cent increase in revenue in the past Covid-ridden 12 months to just under NZ$20M.
“It’s been a truly remarkable year for Volpara, we’ve transitioned the company to being much more digitally focussed, we’ve done lots of background work to get the company more scalable, we’ve acquired another US company, reduced our net loss and we’ve seen strong growth in revenue despite all the trials and tribulations of Covid.”, said Wellington-based Group CEO, Dr Ralph Highnam.
Volpara’s integrated breast care platform is now in use in over 32% of US breast screening patients, and is increasingly in use in Australia & New Zealand, with the NZ Breast Institute based in Lower Hutt being one of the latest users of the company’s breast care platform.
“It’s very important to us as a kiwi company to see our technology being used to help the women in our lives, it’s just a shame it remains private clinics offering our service”, said Dr Highnam, “Breast cancer screening is proven to save lives, but it really is time that women across New Zealand learnt about and were told their breast density, precise measurement of which is one of our key products globally.”
Breast density is a strong independent risk factor for development of breast cancer and for risk of having a breast cancer missed at screening.
In a period which has seen several kiwi tech companies acquired by US companies, Volpara finished its own acquisition of Boston based CRA Health, a Harvard Medical School spin-out and global experts in breast cancer risk and genetics.
“Acquisitions are part of the corporate landscape, but we’re proud to have made our second US acquisition and with the continued backing of the public markets we’re looking forward to strong FY2022 and continuing to innovate to the benefit of women globally and to growing our Wellington teams”.
About Volpara Health
Volpara provides an advanced AI software platform which works with a healthcare provider's expertise to more efficiently enable a high-quality, optimised, and personalized cancer screening experience.
From the time a patient enters a clinic to the moment they obtain key results, the Volpara Breast Health Platform collects and analyses information to better understand a patient's breast cancer risk, while also objectively evaluating image quality and workflow-improvement opportunities.
These capabilities are being extended to lung cancer screening. The Volpara Breast Health Platform is supported by numerous patents, trademarks, and regulatory registrations, including FDA clearance and CE marking, and is validated by a volume of peer-reviewed publications unrivaled in the breast screening industry.
For more information, visit https://www.volparahealth.com