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29/06/2022 20:00

Visiomed Group presents its 2022 revenue and EBITDA projections

Paris, June 29th, 2022

Visiomed Group (FR0013481835 - ALVMG), a group specializing in innovative healthcare technologies and services, today announces its pro forma and projected consolidated revenue and EBITDA for 2022.

Following today's webinar and expanding on its new strategic plan, the Group is publishing its 2022 projections and pro forma outlook for its various entities:

Smart Salem
Spurred on by a new management team, Smart Salem (a wholly-owned subsidiary of Visiomed Group operating the only digital medical center in Dubai) has set a major growth target for its Medical Fitness core business.

Smart Salem expects to post pro forma revenue of €16 million, including €14 million related to the Medical Fitness business and €2 million from sales of COVID-related products and tests, and pro forma EBITDA of €8 million, mainly driven by the opening of the second “Index” center in August 2022.

Excluding COVID sales and including the full-year impact of the second center, Smart Salem estimates pro forma revenue of €22 million for 2022 and pro forma EBITDA of €12 million.

BewellConnect
As mentioned in the strategic plan announced on May 15th, 2022, management is currently strategically reviewing the redeployment of BewellConnect, a wholly-owned subsidiary of Visiomed Group providing connected healthcare solutions. This will result in a redeployment plan and a gradual decrease in operating costs.

BewellConnect (France and Italy) is expected to generate 2022 revenue of €2 million, mainly from COVID-related product sales, with a €3 million EBITDA loss.

The continuation of current contracts in the connected healthcare business and the implementation of the cost-cutting plan would generate pro forma revenue (with full-year impact and excluding COVID sales) of €0.5 million and a pro forma EBITDA loss of €2 million.

Visiomed Group
As an acquisition holding company that manages the other Group subsidiaries, Visiomed Group does not generate any revenue. Holding costs are expected to total €3 million in 2022. Implementing a streamlining plan would enable the holding company to post a pro forma EBITDA loss of €2 million.

Consolidated revenue and EBITDA projections for 2022
The Group's 2022 revenue and EBITDA targets are as follows:

FY 2021/2022 - EURm Consolidated revenue Consolidated
EBITDA
  Pro forma revenue1 Pro forma EBITDA
Smart Salem 16 8   22 12
BewellConnect 2 (3)   0.5 (2)
Visiomed Group 0 (3)   0 (2)
Consolidated 18 2   22.5 8

 

About VISIOMED GROUP

Founded in 2007, VISIOMED GROUP relies on a long experience in the health sector to invest in innovative health technologies and services in France and abroad.

The Group now has two wholly-owned subsidiaries:

  • BewellConnect, created in 2014, pioneer in connected health and teleconsultation solutions

    BewellConnect offers an enriched technological universe, both in medical devices and software, making it possible to respond to all telehealth use cases: enriched and assisted teleconsultation, home telemonitoring, hospital monitoring, tele-expertise, teleassistance and tele-regulation.

    BewellConnect's flagship product, VisioCheck, is the first telemedicine station weighing less than 300g for healthcare professionals, available in a case, station or modular health space.

    BewellConnect is now deploying its solutions in France and abroad.
  • Smart Salem, the first digital medical analysis center accredited by the Dubai Ministry of Health (DHA) in the United Arab Emirates

    The Smart Salem offer is based on know-how in medical analysis, radiology and data analysis and processing to detect nearly 35 diseases in 7 minutes in a patient (in particular HIV, hepatitis and tuberculosis) by offering reliable results, readability and exceptional patient experience enabled by advanced artificial intelligence and virtual reality technologies.

    Smart Salem's “Medical Fitness Assessment” offer resulting from this know-how thus makes it possible to obtain a residence or work visa in the space of 30 minutes compared to 10 to 15 days in historical health centers.

    Smart Salem is a technological platform offering many growth opportunities, as shown by the opening of the second center in Dubai in September 2022 and the authorization received for the opening of a third center, planned to open in the first quarter of 2023.

Based in Paris, VISIOMED GROUP is listed on Euronext Growth (ALVMG). More information on visiomed.fr, smartsalem.ae and www.bewell-connect.com.

CONTACTS

Jérôme FABREGUETTES-LEIB
Investor Relations
visiomed@actus.fr
Phone: +33 1 53 67 36 78
Fatou-Kiné N'DIAYE
Financial Press Relations
fndiaye@actus.fr
Phone: +33 1 53 67 36 75

© Visiomed Group SA 2022. The brands mentioned are the property of their respective authors. Reproduction prohibited, even partial, without prior authorization.

Disclaimer

This press release contains statements that are not factual, including, but not limited to, certain statements regarding future results and other future events. These statements are based on the current views and assumptions of the Company's management. They involve known and unknown risks and uncertainties that could cause actual results, profitability and events to differ materially. In addition, VISIOMED GROUP, its shareholders and its respective affiliates, directors, officers, consultants and employees have not verified the accuracy of, and make no representations or warranties with respect to, any statistical information or forward-looking information contained in this press release that is derived from third party sources or industry publications. Such statistical data and forward-looking information is used in this release for informational purposes only.

 

1 Pro forma financial statements including the second Smart Salem center over a 12-month period and the BewellConnect and Visiomed Group cost-cutting plan, excluding COVID sales


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