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Endonovo Therapeutics Announces Positive 2019 Fiscal Results
Endonovo Therapeutics Announces Positive 2019 Fiscal Results.
About this update from Endonovo Therapeutics, Inc.
[{"type":"text","content":"\n Los Angeles, CA, May 04, 2020 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) (\"Endonovo\" or the \"Company\") today reported financial results for fiscal year ended December 31, 2019. Key Financial Highlights: Revenues for the year ended December 31, 2019 increased by 273% to $310,164, as compared to $83,263 in the fiscal year for 2018.Gross Profit increased 208% to $216,779 in 2019, as compared to $70,333 in the fiscal year for 2018. Alan Collier, Chief Executive Officer of Endonovo, commented, “During 2019, we launched SofPulse®’s, a FDA cleared medical device, national marketing and distribution roll out. The results we experienced from our efforts resulted in positive gains in revenue and distribution in our first year of commercialization. Through our marketing efforts, we have been able to effectively identify and understand the needs for reducing opioid use in the postoperative market. We believe we can expand the use of SofPulse® for reducing postoperative pain and edema in the surgical market exponentially in 2020 and beyond. It is our belief, that as more hospitals and surgeons approve the use of SofPulse® devices in their facilities, it is just a matter of time before SofPulse® becomes an essential medical device for most surgeries done in the US.” Key Business Highlights: Conducted a National rollout and distribution effort of SofPulse® to hospitals and surgeons to reduce the use of Opioids in the postoperative surgical marketProvided SofPulse® devices to all National Football League teams.Expanded our Scientific Advisory BoardAppointed a Chief Medical OfficerAppointed VP of Sales and a VP of MarketingLaunched www.sofpulse.com Mr. Collier continued, “The opioid epidemic that is gripping our country has become catastrophic and SofPulse® offers a true solution to fighting and overcoming unnecessary opioid use in management of postoperative surgical pain and edema. We remain committed to developing long-term distribution relationships with hospitals and surgeons that will provide patients the best possible care and an alternative to opioid use in the US surgical markets. With the recent addition of 8 hospitals through our distribution channel we have seen enhanced results of our marketing and sales efforts. With SofPulse® being one of the...