Regional expansion and intensive R&D see record PACS revenues for Telemis.

Eleventh consecutive year of profitability follows introduction of new technologies and expansion of business in France, Italy and Switzerland

Telemis, the medical imaging company specialising in PACS (Picture Archiving and Communication System) solutions, is celebrating a record 12 months of trading and its 11th consecutive year of profitability. The latest results saw revenues grow by a further 4% and net profitability rise to almost 15% following a year of significant R&D investment, the creation of a new subsidiary, major PACS business wins in France, and the successful migration of 10 Italian hospitals to the latest Telemis technology.

Audited accounts for the year to 31st March 2013 show that Telemis annual revenues rose from €7,515,194 to €7,839,853 and net profit increased to €1,098,674. This growth, combined with a healthy €8,338,699 balance sheet, will allow the company to continue to fund its intensive 5-year research and development budget that currently runs at 11% of total sales (€862,070). The R&D-led strategy is designed to ensure Telemis is well positioned to take advantage of significant global growth opportunities for both new PACS installations and the migration of older systems to the latest PACS technologies.

Growth during the 2012 - 2013 financial year was fuelled by a combination of new product introductions, local office expansion and major European projects. In October the company launched the latest version of its PACS software and in January opened a new subsidiary in Switzerland to address the country's growing demand for PACS technologies in public and private sector medical facilities. Major business wins included CHU teaching hospitals in Limoges and Rennes France, while the successful migration of hospitals in Piedmont, Lombardy and Lazio from systems provided by PACS vendor Micromedica (which was bought by Telemis in 2011) contributed to a 28% increase in Italian revenues.

Telemis Group CEO Stephane Ketelaer, who announced the results at the annual shareholder meeting, says: "The last year of trading was the most successful in the company's history and the results illustrate the success of our R&D and regional expansion strategies. Telemis is in an excellent position to take advantage of strong growth opportunities for both primary and replacement equipment in all of the markets where we currently operate. What's more, as healthcare budgets continue to be squeezed we see additional opportunities for Telemis, as a lean and cost-competitive supplier of leading-edge solutions, to take market share from the less competitive and slower moving multinationals that have traditionally dominated the market.