Prem Watsa Increases Novadaq Technologies Ownership to 6.6 Pct
Novadaq is a maker of fluorescence imaging solutions for surgeons. SPY fluorescence imaging technology has been found to cause fewer post-operative complications and be lower cost for hospitals.
In the past five years, the company’s revenue per share has increased at 1.8% on average annually, as its EBITDA declined 30.1% and free cash flow declined 27.3% on average annually.
In the fourth quarter, Novadaq reported revenue of $6.8 million, a 37% increase from 2011. Net earnings also increased by $5.1 million to $3.1 million.
“Both the installed base and utilization of SPY imaging systems are growing as surgeons representing multiple specialties continue to report reduced rates of post-operative complications, and lower patient care costs following procedures involving our technologies,” commented Dr. Arun Menawat, Novadaq’s President and CEO. “To further support Novadaq’s long term growth, the commercial and clinical launches of PINPOINT® and LUNA™ are progressing as planned.”
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