Computer-aided detection (CAD) software developer Medipattern of Toronto posted a double-digit revenue gain in its 2010 fiscal year (end-June 30), despite weaker than expected reimbursement from U.S. healthcare insurance companies for its B-CAD technology.
Revenue increased 33% in fiscal 2010 to $305,000 Canadian ($299,000 U.S.), compared with $229,000 ($225,000 U.S.) in fiscal 2009. Licensing fees contributed $273,000 to fiscal 2010 revenue, compared with $107,000 in the previous fiscal year.
Medipattern also reduced its net loss in fiscal 2010 to $2.6 million ($2.5 million U.S.), compared with $4.2 million ($4.1 million U.S.) in fiscal 2009.
Related Reading
Medipattern awarded U.S. patent, September 22, 2010
Medipattern unwraps 3D US software, June 9, 2010
Medipattern posts net loss in Q3, May 28, 2010
Medipattern nets more financing, May 18, 2010
Medipattern signs large B-CAD deal, March 2, 2010
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