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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