Avadim Technologies Inc., Manufacturer of Theraworx™, announced its 2014 Financial Results last week, saying, “Continued clinical acceptance of the Theraworx Product Line [drove a] revenue increase of 474 percent,” bringing its 2014 revenue to $1.4 million, up from 2013 revenues of $244,000. Below is Avadim’s announcement:
Asheville, NC (January 13, 2015) Avadim Technologies, Inc. announced an annual revenue increase of 474% based on preliminary unaudited 2014 financial results.
Avadim’s total gross revenue for 2014 is expected to be approximately $1.4 million, up from prior year (2013) revenue of $244,000. The fourth quarter revenue is expected to be approximately $598,000, an increase of 459% over the fourth quarter 2013 of $107,000. 2014 fourth quarter revenue results show a 94% increase over the third quarter’s $307,500.
“We had a solid year with record revenue in 2014,” said Steve Woody, Chairman and CEO of Avadim. “With an incredible year of new participating hospitals, we are building momentum in the market today across all of our product lines and we anticipate significant growth in revenue in 2015.”
The growth increase is credited to a number of positive factors within the industry, one being the continued success of clinical trials demonstrating improvement in hospital acquired conditions with the use of the Theraworx™ protocols. “Our cost saving technology can benefit healthcare organizations globally, as awareness increases with drug-resistant super bugs and their cost. Antibiotic resistance has become so acute that, according to the World Health Organization, a post-antibiotic era in which common infections and minor injuries lead to death is a possibility this century. In addition, the government mandate to lower the rate of hospital-acquired infections by cutting payments to 721 hospitals with the highest rates of infections and other patient injuries has increased the amount of inquiries to the Company regarding our suite of products,” added Woody.
The 2014 anticipated results presented in this release are based on preliminary financial data and are subject to change until the year-end financial reporting process is complete.
Avadim’s patented Theraworx products and patent-pending protocols have demonstrated a proven ability to help hospitals control hospital-acquired conditions. The unique Theraworx formula helps preserve the body’s natural skin function, by preventing dry skin and helping to maintain the natural acidic, anti-microbial nature of the skin’s outermost layer.
For more information on Theraworx™, visit www.theraworx.com .
About Avadim Technologies, Inc. & Theraworx™:
Avadim Technologies, Inc. was formed in 2007, with a simple vision of improving patient care. Our desire is to transform standard health care practices with our safe and effective Theraworx™ Technology, with the ultimate goal of fighting unnecessary infections on a global level. The name Avadim means “to serve”, providing opportunity for global outreach and giving back through the Eblen Center for Social Enterprise’s program Beyond All Borders. To learn more about Avadim Technologies, Inc., visit http://www.theraworx.com <http://www.theraworx.com> and follow @theraworx.
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