Record Profits for Ra Medical Systems, Psoriasis and Vitiligo Laser Manufacturer
CARLSBAD, Calif.--(BUSINESS WIRE)--
Ra Medical Systems, Inc., developer and manufacturer of the PHAROS EX-308 Excimer Laser for psoriasis and vitiligo announced today that it had record sales and was profitable in 2007. The company said its revenues increased by over 50% from 2006, which was also a profitable year for the privately held firm.
Melissa Burstein, Vice President for Ra Medical, commented, "Our customer satisfaction, increased market awareness, and the need for clinical lasers is driving demand for our lasers. In the US, patients know that there are psoriasis lasers available and are asking their dermatologists about them. Internationally, we are positioned to meet the growing demand for vitiligo lasers, particularly in Asia, the Middle East, and Africa."
Ra Medical, now in its sixth year, has lasers in more than half of US states and in more than a dozen countries.
Stephan Beal, Vice President of Sales, added, "The recent positive coverage decisions by major insurers including Blue Shield of California and Blue Cross Blue Shield plans in Texas, Illinois, Mississippi, North and South Carolina, Oklahoma, Minnesota, Nebraska, New Mexico, and Western New York provide a solid foundation to accelerate our planned growth strategy in 2008."
Dean Irwin, CEO of Ra Medical added, "We defeated our competitor, PhotoMedex (Nasdaq:PHMD) in two legal actions last year and resolved a third. This and other recent events have freed us to pursue exciting new opportunities in 2008. We expect this year's results to surpass those of 2007."
Ra Medical Systems will be exhibiting at the upcoming annual meeting of the American Academy of Dermatology at Booth #2243. This year will be Ra Medical Systems' sixth consecutive year exhibiting at the AAD. For more information about this event and Ra Medical Systems, visit http://www.ramed.com
About Ra Medical Systems, Inc.
Ra Medical Systems, Inc., a privately held medical device company based in Carlsbad CA, was founded in September of 2002. The company develops, manufactures, and markets advanced excimer laser systems for the treatment of skin diseases including psoriasis, vitiligo, atopic dermatitis, and leukoderma. For more information, visit http://www.ramed.com
Source: Ra Medical Systems, Inc.
Released January 30, 2008