Imaging software developer Median Technologies reported a 21% increase in revenue, but a higher net loss in 2017.
For the year (end-31 December), Median had revenue of 7.69 million euros, up 21% from the 6.37 million euros recorded in 2016. The company had a net loss of 17.2 million euros, compared with a net loss of 9.1 million euros in the same period a year ago. The higher net loss was attributed to a staff increase and costs from starting up a new project, according to the vendor.
On the positive side, Median said it had net new business in 2017 of 14.7 million euros, which increased the firm's backlog by 23% to reach 23 million euros. Contracts with clinical research organizations and oncology pharmaceutical companies led the way for new business growth in the company's clinical trials, or iCRO, segment, Median said.
Looking ahead, Median said it plans to further develop products that leverage artificial intelligence (AI) and cloud-based technology for medical image analysis and management. The firm said it will also continue expanding globally with a strategic commercial organization.
