Business
SANUWAVE Completes Offering, Funding Allows Path to Profitability in 2020
SUWANEE, GA, Feb. 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SANUWAVE Health, Inc. (OTCQB: SNWV) is excited to announce the completion of our follow on
About this update from Sanuwave Health, Inc.
[{"type":"text","content":"SUWANEE, GA, Feb. 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – SANUWAVE Health, Inc. (OTCQB: SNWV) is excited to announce the completion of our follow on equity offering. The combined offerings have brought over $5 million of investment capital to the company between the December 2019 and January 2020 closes. The funding allows SANUWAVE a path to reach profitability later this year. The offering was led by new institutional investors.\n Kevin A. Richardson II, Chairman of the Board and CEO of SANUWAVE, stated, “Completion of the funding provides the resources needed to reach profitability during the 2020 calendar year as we accelerate the roll out of the dermaPACE® Systems in the United States. Our goal is to add an additional 300 placements during 2020, leading to accelerating revenue throughout the year and achieving breakeven during the year. The institutional investors spent many hours talking to clinicians, competitors, and customers during their due diligence to gain comfort with the roll out and commercialization plan being implemented at SANUWAVE. These funds allow us to ramp up internally and continue to fill open positions and build the infrastructure necessary to achieve our ultimate goal of having a dermaPACE device placed anywhere and everywhere a wound is treated.” About SANUWAVE Health, Inc. SANUWAVE Health, Inc. (OTCQB:SNWV) (www.SANUWAVE.com) is a shockwave technology company initially focused on the development and commercialization of patented noninvasive, biological response activating devices for the repair and regeneration of skin, musculoskeletal tissue and vascular structures. SANUWAVE’s portfolio of regenerative medicine products and product candidates activate biologic signaling and angiogenic responses, producing new vascularization and microcirculatory improvement, which helps restore the body’s normal healing processes and regeneration. SANUWAVE applies its patented PACE® technology in wound healing, orthopedic/spine, plastic/cosmetic and cardiac conditions. Its lead product candidate for the global wound care market, dermaPACE®, is US FDA cleared for the treatment of Diabetic Foot Ulcers. The device is also CE Marked throughout Europe and has device license approval for the treatment of the skin and subcutaneous soft tissue in Canada, South Korea, Australia and New Zealand. SANUWAVE researches, d...