OEC posts healthy third-quarter results
C-arm manufacturer OEC Medical Systems reported strong third-quarter (end-September) results this month. The company posted revenues of $47.9 million, an increase of 23% over $39 million in sales for the same period last year. The quarter’s net
C-arm manufacturer OEC Medical Systems reported strong third-quarter (end-September) results this month. The company posted revenues of $47.9 million, an increase of 23% over $39 million in sales for the same period last year. The quarters net income climbed 25%, from $3.4 million to $4.3 million.
Executives with the Salt Lake City firm attributed the strong product demand to the increase in minimally invasive procedures, as well as increasing use by healthcare delivery networks of outpatient procedures.
In other OEC news, the company announced Oct. 16 that Dallas-based supply chain management company Novation awarded OEC a three-year contract, making OEC Novations sole-source supplier of mobile C-arms. The deal is estimated at approximately $30 million annually. It includes OECs Mini 6600 C-arm and its full-size mobile units Series 9600, 7600, and 7700. The OEC award is Novations first capital equipment contract as a new entity, according to OEC.