LONDON (Alliance News) - MedaPhor Group PLC on Monday said it expects its annual loss to widen sharply following the acquisition of Intelligent Ultrasound.
MedaPhor shares were trading 3.2% lower on Monday at 7.50 pence each.
The ultrasound software company said it expects its 2018 revenue, generated entirely by its Simulation division, to grow by 27% year-on-year to between GBP5.3 million and GBP5.4 million from GBP4.2 million.
Its earnings before interest, taxes, depreciation, and amortization loss for the year before exceptional items is expected to be around GBP3 million, widened compared to the GBP1.7 million loss reported for 2017.
This includes GBP1.5 million of primarily research & development expenses attributable to investment in MedaPhor's Clinical Artificial Intelligence division which was established with the acquisition of Intelligent Ultrasound Ltd in October 2017.