Guided Therapeutics Sees Significant Sales Growth in 2016

Guided Therapeutics Sees Significant Sales Growth in 2016

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, January 21, 2016

According to a report by global auditing and consulting firm KPMG, the past decade has been transformational for the medical device industry. Importantly, the report notes, the pace of transformation seems to be quickening. KPMG notes that new regulatory requirements, increasing competition and rapidly emerging technologies are leading to new complexities and challenges for those operating in the sector. With governments across the world focused on reducing healthcare costs, medical device companies are now facing pressure to produce products at lower price points, adds KPMG in its report.


The KPMG report further notes that in the present environment, sales growth and new product development are the top two strategic priorities for medical device companies over the next 12-24 months.

This morning, Guided Therapeutics Inc. (OTCBB:GTHP), a Norcross, Georgia-based medical technology company focused on the development of medical devices, announced that it expects to achieve a second consecutive quarter of record sales for the LuViva(R) Advanced Cervical Scan. GTHP’s LuViva is a technologically advanced diagnostic device that scans the cervix with light and uses spectroscopy to measure how light interacts with the cervical tissue. The device is intended for use with women who have undergone initial screening and are called back for follow up with a colposcopy examination, which in many cases, involves taking a biopsy of the cervix. LuViva has been designed to provide results immediately and unlike Pap, HPV tests or biopsies, it does not require laboratory analysis.

The worldwide market for cervical cancer screening and diagnostics as currently practiced using cytology for primary screening is estimated at $6 billion. The market is projected to grow to almost $9 billion by 2020.

Gene Cartwright, President and CEO at Guided Therapeutics, said that sales for the first quarter of 2016 are expected to exceed the company’s record fourth quarter of 2015 with total anticipated sales of $3 million to $5 million for the full year of 2016. Cartwright further said that the majority of the growth is expected in developing countries where LuViva is used as the single source for screening for cervical cancer. Cartwright added that to support the expected growth, the company is executing on a plan to raise additional capital and to provide for non-dilutive funding through partnerships for large markets.

Guided Therapeutics also announced today that it expects to close on an interim financing during the quarter.

Despite the continued excellent announcement, shares of GTHP are barely up on the day and near their 52 week low as the Company continues to dilute its shareholders. Hopefully with a non-dilutive financing in the works, and further advancements in sales, shares may have a chance to actually start moving higher in the future.

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