NORTHVALE, N.J., Dec. 7, 2016 /PRNewswire/ -- With approximately a month since the election, ADM Tronics Unlimited, Inc. (OTCQB - ADMT) is issuing this post-election update as part of its previously stated commitment to provide more communication with its shareholders and the investing public.
"We believe the results of the election will have a significant positive impact on our industry* and our company," stated Andre' DiMino, CEO of ADMT. As previously reported in ADMT's letter to shareholders of October 21, 2016, the Affordable Care Act, commonly referred to as Obamacare, had a negative impact on the Medical Device industry, primarily due to the medical device excise tax and the reduction in reimbursements for various medical procedures.
"Despite this challenging environment, our company recorded 11 consecutive quarters of increased revenues and profits. This has not gone unnoticed by the investment community**. In fact, we believe our burgeoning medical device engineering services business will continue to produce outstanding results over the foreseeable future," stated DiMino.
Consequently, ADMT is now well poised to take advantage of the anticipated improved environment for the Medical Device industry. "Over and above our increased revenues and profits, we believe potential revenues from our suite of proprietary patented Medical Devices, targeted to treat a multitude of medical conditions, can provide us a foothold in the multi-billion dollar United States Medical Device industry," DiMino concluded.
* Industry leaders have echoed similar positive Medical Device industry expectations.
From Medical Device Business News, November 9, 2016:
Larry Biegelsen, senior analyst at Wells Fargo, wrote "Trump's win makes repeal of the medical device tax more likely,... and could mean industry-friendly leadership at FDA and CMS."
Mark Leahy, President and CEO of the Medical Device Manufacturers Association stated "We have had a strong tradition of broad, bipartisan support to advance issues important to the med tech community such as suspension of the device tax, reauthorization of MDUFA, protecting intellectual property rights and more, and we hope this will continue."
Scott Whitaker, AdvaMed president and CEO, said in a statement, "In the coming year, policymakers will be dealing with a number of important policy issues, including authorization of the latest Medical Device User Fee agreement to continue improving the FDA regulatory process, repeal of the medical device tax, and ensuring that the coverage process allows patient access to the latest innovations."
ADMT is a diversified, technology-based developer and manufacturer of innovative technologies and products. Its core competency is its ability to conceptualize a technology, bring it through development, into manufacturing and commercialization, all in-house. ADMT has three areas of activity: Medical Device Design, Engineering, Regulatory and Manufacturing Services; Proprietary Electronic Medical Devices; and Eco-Friendly, Water-Based Formulations. The Company's headquarters, laboratories, FDA-Registered medical device and manufacturing operations are in Northvale, NJ. ADMT's multi-disciplinary team of engineers, researchers and technologists utilize advanced technology infrastructure, such as 3-D prototyping, precision instrumentation and specialized software and peripherals, for research, development and commercialization of diversified technologies. Additional information is available at the Company's websites - admtronics.com and concepttoquantity.com.
Except for historical information contained herein, the matters set forth in this news release are "forward looking" statements (as defined in the Private Securities Litigation Reform Act of 1995), including statements regarding future revenue growth and performance. Although ADMT believes the expectations reflected in such forward looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. Forward looking statements involve risks and uncertainties that could cause actual results to differ materially from expectations. Factors that could contribute to such differences include those described from time to time in ADMT's SEC filings, news releases and other communications. The Company assumes no obligation to update information contained in this news release.
SOURCE ADM Tronics Unlimited, Inc.