Medicalgorithmics with Q3 profit

WSE-listed medical diagnostic device producer Medicalgorithmics recorded PLN 11.27 million consolidated net profit in Q3 compared with PLN 5.6 million profit a year earlier, the company said in a market filing. EBIT was at PLN 14.09 million, up by 58.7 percent y/y, while revenues amounted to PLN 50.3 million vs. PLN 40.39 million the year before. “Group sales are the result of the number of diagnostic services performed by our subsidiary Medi-Lynx customers. After three quarters of 2017, the number of applications for payment from insurers for diagnostic services reached a record number of 70,000, an increase of 63 percent y/y. The significant increase in sales was possible thanks to the increase in the scale of the Group's operations, stemming from the acquisition of AMI Monitoring and from consolidating the results of Medi-Lynx into the group’s figures,” the company said in its financial report.