ADDISON, TX / ACCESSWIRE / April 22, 2014 / Wound Management Technologies, Inc., (OTCQB: WNDM) announced revenues of nearly $700,000 for the first quarter of 2014, a gain of 82% over the first quarter of 2013. Approximately 80% of revenues were from the CellerateRX(R) product line and the other 20% of revenue occurred in the Resorbable Orthopedic Products, LLC subsidiary (ROP). The CellerateRX first quarter revenues included sales to 65 new accounts mixed between the wound care and surgical product lines. "Our growth mirrors the results we anticipated in our three year strategic plan and we are excited about the organic growth that is occurring," stated Robert Lutz, Jr., Chairman and CEO. "This is the strongest quarter ever for CellerateRX sales. ROP’s revenues were from license fees and now we will begin collecting royalty income from this license. Our team is collectively doing a great job of meeting our goals."
The Company also wants to share its Letter from the CEO, published in the 2013 10-K:
LETTER FROM THE CEO – GROWTH AND LOOKING TO THE FUTURE
2013 continued to be a year of transition and by year end we were able to shift our focus firmly to the future instead of dealing with the various issues of the past. We ended the year with the announcement on December 18th that existing shareholders committed to invest an additional $2.4M in the company in Series C preferred shares and to convert over $1.5M of existing debt into the Series C. This funding, along with the $1.2M invested by Brookhaven Medical, is allowing us to focus on business growth as we now have ample funding in place to fulfill the next stages of our strategic plan.
We continue to execute on this plan, ending the year with revenues of $1,726,392, showing a growth of $552,848 or 47.1% over 2012 respectively. Importantly, we are beginning to realize revenue from our new initiatives in CellerateRX Surgical and from our resorbable hemostat in addition to our CellerateRX wound care sales. 2014 will continue to show growth in all three areas as well as in new marketing areas that we will announce during the year.
An enormous benefit of the recent investments is that they allowed us to expand our executive team in order to capitalize on our market opportunities. Now in March 2014 we are enjoying the efforts of new staff including Deborah Hutchinson as President, Darren Stine as Chief Financial Officer, Jen Taylor as Director of Marketing and Business Development, Jane Fore, MD as Chief Medical Officer, Dr. Alec Hochstein as our new Medical Director, and Barry Constantine as Director of Research and Development. They join Ken Snider who became our EVP of Sales last September. This multi-talented group added to our existing team allows us to both promote our current products and to also work on developing additional products and marketing strategies.
Our relationship with WellDyne Health has continued to strengthen culminating in September 2013 in the formalization of a three-year Marketing Services and Shipping Agreement for the CellerateRX wound care and surgical product lines. Together we are exploring those and other new marketing programs and segments for our products. We are also working on many key international opportunities for both our CellerateRX wound care and surgical products and our resorbable hemostat.
Our CellerateRX distribution network continues to expand and grow, leading to exciting new account growth each month. Our distributors are a seasoned network of organizations and representatives that represent our products in a wide range of healthcare settings from surgical sites, to podiatry offices, to home care and beyond. They are bolstered by the remarkable results that the CellerateRX products continue to show, exciting our customers and giving us increased opportunities. That coupled with our increased participation in industry trade shows and meetings is helping us meet or exceed our sales goals each month.
In February we announced the FDA approval for an exciting new product that licenses technology from our Resorbable Orthopedic Products subsidiary, followed by our issuance of a Commercial License to BioStructures that gives us a new royalty revenue stream. This is the first of many exciting new announcements for this subsidiary.
In closing, I am enthusiastic about the road ahead for Wound Management and we look forward to sharing our progress with you in the months ahead.
Chief Executive Officer
About Wound Management
Wound Management Technologies, Inc., is an emerging commercial stage company with its primary products in the $5B worldwide advanced wound care market. Wound Management's primary focus is the distribution of its unique, patented collagen product, CellerateRX(R), which is FDA cleared and reimbursable under Medicare Part B. Wound Management has other advanced biotech products in development including a patented resorbable hemostat that is in the late stages of development. More information can be found on the company's web sites: www.wmgtech.com and www.celleraterx.com .
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.
SOURCE: Wound Management Technologies, Inc.