SNWV - Earnings call transcript Q1 2019

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Operator

Good day ladies and gentlemen, and welcome to your SANUWAVE's First Quarter Earnings Call. All lines have been placed on a listen-only mode and the floor will be open for your questions and comments following the presentation. [Operator Instructions] At this time, it is my pleasure to turn the floor over to your host Lisa Sundstrom. Ma'am, the floor is yours.

Lisa Sundstrom

Thank you and good morning everyone. in in interest call. your appreciate SANUWAVE today's and We our an activities, quarter SANUWAVE provide of XXXX most results. first will now our update recent as as financial well

SEC Form filed report XXXX. XX-Q quarterly May XX, on with Our the on Monday, was

to or If XXX-XXX-XXXX at the company's SANUWAVE to www.sanuwave.com. our website the Investor added distribution you be to please list, would call of like go at Relations section

content results information caution of to forward-looking without conference that of events by from materially SANUWAVE in Furthermore, this May we XX, that obligation call the undertakes comments with as only of accurate during to encourage the XXXX. no time-sensitive Before limitation filings the like the begin, to uncertainties which to contains call contain the would this XX-K and the those including any Kevin? of live and now the reflect is management Forms broadcast, actual like revise statements. over forward-looking turn Commission, the XX-Q, risks described and Exchange or that to or Chairman will operations future the you our factors statements I involve conference date review the SANUWAVE. made date identify circumstances statements regarding Richardson. results of I this differ Securities to Company's specific and update or call our to would Board, after Kevin conference of call. cause events may We that

Kevin Richardson

also Thank today's be Parikh, part our you, Shri President have call. also we giving call today's who of Lisa. On

commercialization. progress to marks XXXX roadmap quarter full first our The on

exceeded who In zero gives goals revenue on to robust from completed hires have full-year our XXX. placements, placements, then guidance and reimbursement As based week, placements will our backlog of placed we with by easy pipeline lead devices we us we XXX XX that training and our task growth. for and revolve is activity to number. XXXX certifying around training raising This confidence stated go our delivering on a placements, XXX have no last devices from the current their new in fully clinicians. which the in The the are QX target past to

from XXXX targeted allow months. of conclude support would we to Lisa and customers and spend to and a which to our six and have We turn first Shri for already states receive Q&A. degree positive faster trainer path accomplishments are Claims will to four first greater a reimbursement. and revenues over flow Midsummer. beginning for with will minute Then I discussing one the goals the I’ll our it expect

to for base a XXXX are which revenue there to in XXXX very build goals and Our beyond. establish rapid straightforward on growth

We’re targeting XXX we devices. will six place and states

reimbursement lives. From XXX three clinical cover million XX also train a standpoint by over studies. will support clinicians. and We’ll We certify two this new to activity also we’ll launching

We’ll of We’re the adding other to as grow. and the adding add new we’ll on science equation we and advisors to mainly personnel four three management sales new countries. key continue side be

on measure need wounds Over modalities. add to along shareholders we with are companies in we on way milestones achieve for way. over progressing next that everywhere timeline have time, a will anywhere is the how of laid it investor DFU presentation plan treating all so in plan in with $XXX their revenue are to grand our XXXX goals treated. have a achieving over our well million We and is device and which the will other treatment with is devices within four the out these indications can work conjunction and wound years. We've past, on are When a provide the we we we well this in other which achieve we to discussed also part successful our placed

some this talk. placed discuss the Shri locations. we will highly first XX his quarter in during devices qualified of During

May. and our We’re this capital XXX help the $X also force April getting is growth, we’re in will the over funding warrants why grow successful having our and with This necessary hiring to us why XX% at begun Over to and million us goals. over achieve we’ve which proceeds in expanding support and arrived provides placements of company exercised sales confident the year. which during with

us. XXXX. the looking firms strong have throughout to first the a truly direct at brought top-notch shareholder folks to you. by of states are June. the want evidenced in perfusion and us wound JWC We to continue new folks tradeshows to and are join We year. of out as and because force fortunate we’ll senior support the dosing. be to one sales grow wound in are BSN, added of on hit QX We Thank base have Steadman, we seeking our European in and two trainers such and week most Virgo who We presence studies mix some earlier [ph], KCI, in innovative sales The care years XX six we from tremendous major team then a had Integra, like the are we’ll week attending this launched two care shows; product large award and actually this

Health benefit of engagement of will in an announced the partner be partner best accelerate to finding to with Speaking shareholders to on of to we felt Alira focus strategic rollout, Europe, our European U.S. in us player the a so assist established the our expansion. With Europe. we much our

in concluded be to that expect We and QX. announced

new We timing and patents year. partner of player this recently forward just move also with an established area discuss attention will say, me but some QX. later we’ll of an revenue, lot and orders the in getting is a potentially which Lisa let space the impacted cardiac added

revenues. the an will and issue lead much most larger this is than of For when the placements expecting based is By revenue lumpy less it year will much procedures, but next on placed order our of of in will and the year, single dramatic because every is smoother full be orders, partners today. growth our one be be time an that order

over Let followed me Sundstrom throughout with Then will Lisa field will conclude discussion remainder by insights what to the investors the turn some I share who will who about Parikh, Shri expect of us some financials. President, our review from Shri? it XXXX. for can the

Shri Parikh

just and to a Good that front market a it’s part morning you, phase thank with joining. patients, Kevin. commercialization. fun row the for impacting privileged we of see our experience. When seat technologies dermaPACE to most I results quite fulfilling this technology Thank have everyone in you all and and we’re best are has intersects characterized how remarkable and actually

of our create endorsing market which are As this following the commercializing systems. cost-benefit a of technology, for prioritizing a systematic history Kevin stages early process state expect dermaPACE claims technologies placements the has we is shared, appreciation newer supporting respective our we pioneering quickly. in dermaPACE within This regionally here having submitted strategy and competition for market focused reimbursement. are an in multiple Many insurers in we The U.S. of in ultimately our with what the private of

that sharing market We are are a are wound and primarily other clinics and for we in and clinicians also to-date. of us engaging preliminary placement, placement are but patients and week. ulcers centers interest targeted are that for clinicians, help with foot our we’ve teams XX high There set guide treating criteria success with our field diabetic with pleased sales clinical greater than had care the

to experience local in the that Antonio was was soon, newspaper a and sensation foot. called and a which broadcasting care recently quoted wound TV was of dermaPACE interviewed with post were available. station our helped couple weeks by weeks The back in practice has their this center website the example, physician their new ulcerated For that to San ago on treatment how a local we’ll course said there two large patients when on bring just also at story

early the patient for team is where in Having Concurrently still one One every conference years it that of the he and dramatic more experiences healthcare member impressed over and SAWC, has are treated over weeks impact, negative. patients a do customer. simply the ago been placement technology understand and clinician his care a had We it is confidence many on how observation one share on big is patients helped clinicians create. growing there earlier been patients are on not to having such the the wound only us we is SANUWAVE and impressive focused is just of has just wounds dozen the had there mobility anything is and will a how an impact expect with to a and that during the we XX couple outside no of our but collecting, been year continue. up this

and have growth our terms and four clinical managers the hired area we call. we In sales this discussed update associates in last two quarterly of since hires future markets

commitment As more by it claims. hire to by the cooperation invest well market growth will more outstanding to is summer. of the are This earlier, deliver as goals. of into of necessary additional our to activity looking the we a our to conclude, sales their that and on the Back able and area followed to by provide credibility placements together clinical exercising ongoing our to Kevin end and of trainers two indeed reimbursement managers shared trials our with the studies, many XX% thanks know the clinician investors we excited our successful clinicians and warrants training support embraced journey as our Lisa. confident are you, certification of support plans we to of clinical To in XXXX two and activity

Lisa Sundstrom

from for $XXX,XXX of the year. $XXX,XXX, Revenues the quarter or XX% were a decrease Shri. you, XXXX of prior first Thank

the from dermaPACE. the an filing, three of SEC in for issuances in in This primarily expense in $X.X were increase diluted increase premier a and Europe travel an in year. order commercialization were The training expenses was to expenses for negative The upfront of of same partner $X.X FKS. of our X% $X.XX a fee net fees of QX, for net related increase who basic new and or the in with first consulting increase Poland. related marketing the related just study in Kevin per penny in resulted XXXX or due our salary an the timing that maintenance a due XXXX increased increase $XX,XXX and to prior the license and per result revenue area an from of of was $XXX,XXX XXXX, increase negative a XXXX, partially our related operating Research initial of of loss XXXX to revenues a patent XXX%. the XX, or in related Net services an marketing to decrease compared General our $XXX,XXX A XX%. million hiring for loss Shri new XX% issuance both the with to that period the net of $X.X increase for to million, our to Selling the temporary expenses the quarter from March of placement, and of basic due million increase contracting prior was year. first and upset commercialization Southeast study as and expense reimbursement and associated increase similar orthoPACE to was large is a development benefits explained. was expenses patent is the quarter in XXXX The diluted $XXX,XXX, primarily for distribution decrease device of the Our and and this $X.X loss debt expenses first or in to in for due travel applicators increase hires have decreased of and dosage and of months in by placed for increase or sales strategy ended decrease increase XXXX the sales related XXXX XXXX. quarter share legal decrease XXXX or the of placement to not our and increase agreement from dermaPACE. mentioned, share and from first interest were the loss $XXX,XXX, of sale the of order XXXX did expenses and a in expenses primarily quarter million in insurance administrative to

Net cash payroll we due compared to Looking hand $XX,XXX $XXX,XXX December used operating XXXX XXXX increase related XX, of for activities same the million of compared operating expenses the was at had receivables. The $X.X of XXXX XXXX. as period at the cash to decrease in first cash for and in and operations increase XXXX. by and quarter March for million in $X.X with cash on XX, flows; the used was

the will XXX,XXX burn dermaPACE to from of in protect as to month including XXXX of XXX,XXX be operations our per employee. continue new rate We commercialization launch we approximately hiring

to and and research market continue international non-medical our development uses We the technologies. of continue expand of

Now, let to back me turn Kevin. the call

Kevin Richardson

Lisa. you, Thank

next are for this team growth. We executing our the we each want will state We us The open heard want in getting set use target improve have XX XX anticipate for will With that, end the to a rollout overwhelmingly as the the have in you've education. we’re lives. product the for thank end as fund As clinicians Revenue results and Christie? and second up year-end. early by of warrants the to stage be of patients year. XXX focus exercise end the is XXXX. the on great to successful process follow let by quarter, me the to and reimbursement. supporting by us thank the helping and our The their placements devices to of We third who shareholders the on Q&A. from XXX the goes from at it through rollout of

Operator

[Operator Thank our with Instructions] from floor now Zacks Please ahead. you. question questions. is go The we’ll Marckx for open Brian And Investment. first take

Brian Marckx

the Kevin, as you is that you're April of any there any Does fact bearing in? in submit expected just in everybody. Audit to on that morning and have third a the Good Device that a press that curious to does it. submit Medical what was I'm in for territories commercialization need release for quarter. to it mentioned the you Program that

Kevin Richardson

No.

have year ISO. make a and but becoming is, So, are and commercializing in it said was good and also as we that go processes, you had one-off, I we're to big what registered forget to they to our certain part -- we call easier Japan countries companies but this to in of and Korea, referring you approved what to through for audit all it it becoming and anytime that that just have number company, I products the a separately. doing is and came What go. certified have that isn't trying us do them was so on they're earlier

make of It's procedure where combine manufacturing actually in thing good. Japan; So those all I cover one into us. where sure is they're as believe will audit something can well. a doing comes you This the because audit for wonderful and Canada, it'll your quality Europe Korea, parts for us cover Brazil,

make So, it'll easier and team. our for a our for manufacturing life lot team quality

Brian Marckx

this of prerequisite submission to sell is As overseas?

Kevin Richardson

that would we've like that market. to no, call Brazil. help in new it's this registered on not. -- no, We're go through already just a a markets sell we're step No, -- a all process that those Visa, There's is but already will

So sell. we're only else to and aren't Japan Everywhere are Brazil covered. two probably good that

It'll time hindrance. it'll of future to times. easier because instead only one make life bunch help get a us not is of this audited only the a So in

an have ago went where example, was good. we everything had didn't other this; to If or same thing. into markets. we years through Korea in they into the audit came and made For we go three do sure if went some Japan We'd

life make this everyone. for will So easier

Brian Marckx

Okay. All right.

the of probably had I'm weakest year? What gives in in much maybe XX be this be anomaly going sales and that it But of the were mentioned expect the just I'm or but XX,XXX. was to in remainder the to more. years And to that remainder lower in that extremely that you're you product weak QX. accelerating than QX you the guessing international can't growth back in you So, you've accelerate year. wrong confidence an

Kevin Richardson

all every Well, they but country a to submitted up plan they're track. there, and might every single have seems we for a was be or to plan work off dramatically. month submit with on here the that year It be

begun will example, those for year. Korea in why be come April year. close up to will to I'm Italy this have XX% that almost confident already and be this So orders XX% is up May. And

we're the pudding and the So, evidence, you in. the proof's in -- is coming the know pudding

good having already. success we're So

belittle a in Our going drive focus, because will on placement the main QX. U.S. we our but placements that's basis. international drive the the Brian, focus I one in than don't is saw placement mean in stuff, International U.S. more revenue we our to the to a yearly saw in what What

our -- it be our way XXX year orders X,XXX, on are because U.S. coming from processes. and don't our domestic help than benefits us The at about with be a so that's market we focused going that's going focus the have should get rollout. we it's the full Europe feel what's bandwidth focused we as that on the on Alira And reimbursement is they're U.S. XXX, rollout. type process. great by their the be the their of And Italy to having will In they're or said; same higher established. might more success. today. Health the the they're going we've they're on it or happen international. we reimbursement And does really In announced XXX, That international to haven't it's through focused can on on there And end have orders certain the that XXX is yesterday, a of our so on in, to huge to I main And that's to it all. And given on to so then if to what we issue what trying way what anticipating we creation Europe. than get Korea And drive I own dramatically way the retained is like to the XXX we're summer. value and confident through we'll were the if where the but

have And run manage who kind of an opportunity in and established partner it that space, haven't decided so U.K., taken board care that just wound they Europe that so the advantage for right let's can really infrastructure find Spain. the force, it's can Germany, capabilities in a the distribution big someone the with sales we management go France, us It's of.

I the Brian. where confidence in that's get international stuff, So

Brian Marckx

it international Whether and as guess it kind you U.S. market. it Is the there's a it focus another idea comments, off question asked I not a the I appreciate sounds to I was handing income like kind that relates I net pretty it Kevin. to or that of it the net of And on good don't sounds like you're you which question in it's probably allows essentially there because whether U.S. if led is way opportunity business essentially see just going that now actually the to and asked into that operating you had the see you does return? huge a the future what is to return, make is And it have near as just you that the compared a given talked shutter profitable? overseas? in the per international that about relatively sense business it

Kevin Richardson

market me out market our to go presentation investor Let tried And how back the opportunity lay just of on it U.S. if the -- step first. take and a is. big over we've

arterial how foot then and opportunity. laid treated leg out where care ulcer a laid a tiny this diabetic bunch surgical big and can centers So target pressure year. many closures, leg of but how we've -- amount out is even about laid how each we wound it's that's -- really including year's patients other We've in the are a there many indications, ulcer, are not the ulcer, sores of cosmetic venous U.S.? post We've many There's XXXX. out

That not is focused is the is And we're opportunity The so, we're what sure profitable. U.S. making doesn't that's mean international is huge.

Korean is extremely orders the It's that's in that. They’ll profitable. that and is to to year. a Our average probably about and that cost usually low XX least business at applicators extremely They're it. support a year place on trip one XX for doing many

in out And profitable doing right we're of making they're time us. now. pocket a We on Europe a do have nice refurbishment. and business don't nicely for any every our that $XXX capital so refurbishments they it's Italy, profitable,

money and there If a if from having decision focus wound treat it's be to can to a do that ourselves full to but the money business And So, everywhere have the would That's sink care have have and one rollout. global a had cost Brian, anywhere goal then nice and footprint a to our profitable benefiting the better. would and lot of grow it that build it in us it that and ulcer from diabetic wanted out. to really that U.S. foot of our global exists we full space. Europe made, was a away where we means is in for that it would us, taken footprint lot

approach Middle are So because to know high, America, we we have thing the probably partner. best we our capital rollout come there partner us a we've to in Where And South with a to partnerships exclusivity. have the out. it And Same where costs to decided you that's as we’ll East well. associated the get can't for find look we we'll do in partners. as partner internally paid don't tend too there. the

and having the and we had is out. partners. do by the we've model. the rollout helped can't bills that I've that's said, as we're right it's mean But It's doesn't good but finding other the that a nice So main ones pay U.S. worked focus with success the

Brian Marckx

Okay.

that believe Is the of you road? discussions U.S. the down a MACs and is that call the private bit to some the is started some the QX on So, -- payers. still expected some that that is the that of mentioned something little have that I -- on something you or with regional

Kevin Richardson

process. a It's

to it Texas, the building and the insurance, receptive six and paid. on and a foot would be will begun we'll ulcers into claims those, treating MACs That's much South as goal up we're -- also And certain to place, certain a team that way have deal with process wounds. We've and good summer flowing really new no getting diabetic that the expectation. in get the they got of so out private get Carolina, of then, they a critical but now meeting claims happens the right along. a most after better submitting into was part Illinois We're nice going The environment, the the claims have We've claims meetings focused identifying make figure goes insurance through certain first and open the where have will then and we've of states; set can out of competitive a product, and So discussion that'll to certain and up Pennsylvania so is we'll mass payers, the a markets. in take California. we're paid. sure that North states

Brian Marckx

No problem.

Kevin Richardson

The getting and us. wound is are they're we clinic getting not For, paid, paid. paying

Brian Marckx

yes. Yes,

SANUWAVE have doesn't do at a if how paid, the have clinician work? when still So, is In will billing you last claim drive relative and and the clinician comment. try clinician starts it? help clinician not how to essentially So the point question initially not to to utilization, does bill he of I eating get the cost the the that work that the and that instances the denied where bills does

Kevin Richardson

billing we've want for process party we've they're get and paid, submit will one, for who question. going SANUWAVE working and third is, with done Great the a And support the we're the billing procedure. to what clinicians to process worked, so

pay that's but them. made how proposition. that backward bill submit deployed -- certain them, And don't will basically where collect be -- if won't were it's the mistake denied, going can't it's a the denied wound process appeal, and help again, they work. things help is by guidelines all a there's wouldn't determined care they the a expect and it’s it's charging centers If have what for if ask to wound be codes, wound right we them have We them paid, -- with We that center claim. we that though company get another second appeal their the there'll the will even were us. they There's have team they can

And wear economic paid. to if could paid like working it. model. other saving be don't insurance to straightforward carrier what money They'll so and be get a know making doing it's clinicians with our we The boot be a or a relative with is using, partners negative get modalities money. they they will good it the pretty they we're faster non-invasive, the with procedure, patients it's on saving a pressure are because because you device time, the have It's

are that. to get those that are using they rapid so They benefits So into day are have there's games so going mean, I not many adoption for benefits. days be get to when to They every Hyperbaric an XX our there's for chamber the that for hour. go paid. going that on a expecting it don't just to many to product We're we're paid appropriately. only to try funny play any

Brian Marckx

Okay.

that for So in use? device, help placement the they device do -- you from to take in initially first condition used, you on the Can does the have average it place you the us point? the terms the metrics or [ph] this any for they time of U.S. So times of total in in on at look when with long relevant how that? are

Kevin Richardson

a weeks number a we'll that we're clinician. with two. a paid, will that they're they'll a then still been questions getting contract device, They'll identified months, There's than few four not They they're when three portion it making months. pay patients they'll they when with day to appropriately. of two to ulcer on But They'll later, what investigational go Shri model. support anywhere and our claim. takes earlier. for It of collect be we've where doing foot different So a those a decision if make in mentioned mentioned when two to answering using patients that use The claim. six from depending they or they three after training. not to be had submitting as later, places one investigational we'll targeting months be And then when any move And submit revenue lasts call may I up follow as they've to sign anywhere months, an takes to our between billing have XX our -- doing we're around weeks a gears, XX will about We're it a where later, usually revenue that we they'll the shift They're four three we weeks they're and usually submitting that the one phase, move producing. installing they usually that and sure training a they're diabetic receive. week. will in or contract, to greater somewhere week,

we're prior a it metric average from one standpoint, so Brian. around yet there but a – we're seeing And somewhere will not ultimately, day

So the be months switch month then get Ultimately, wasn't the the our a still process because --we salespeople, hugging lot. needs details. hugging -- in I what and paid, know we're doctors, great the but we'll of I still this far you before, on-boarding claims benefits this the that's you tears is that learned with -- got to patients then to hugging training few months The three can't once our are a A so learning, It's to likely they've see of we're wound a lot investigational, give revenue, and probably in of trainers, coming exact know a year, healing, we've be. been paid. mean tremendously, refining we’ll everything.

months, ramp a producing to -- really to when new start four start our focused see somewhere faster. start out getting mean, faster. we'll from revenue there to of when I at for aggressively. units are we it's So revenue six to around be some on It could the salespeople finish

I'm giving just; date. It's you them. to exactly to happened kudos what's So

as I forward, see an pace could on it Going accelerated well. move

Brian Marckx

Okay.

Kevin Richardson

to too. Brian, some take got And we've guess I questions other

Brian Marckx

Yes. Last those many initial them question, states, in states? states of in do you have six have the trainers how or and of those all do salespeople you

Kevin Richardson

we'll but add also Four need in adding the California. a are of and the we then, And Texas. trainer we're soon. then Illinois, right add that's ones add we’ll now, main the more six we’ll trainer Pennsylvania, two in And thing

go the you sales, with to if So you then trainer. start

game the plan. of kind So that's

Brian Marckx

right. Thanks Kevin. Appreciate it. All Okay.

Kevin Richardson

Thanks, Brian.

Operator

question go Private And from our Investor. James next Please ahead. [ph] comes Terwilliger a

Unidentified Analyst

you can me? hear Kevin, Hey

Kevin Richardson

doing? Hi, James, you are Yes. how

Unidentified Analyst

you? are how Good,

Kevin Richardson

Good.

Unidentified Analyst

Very reimbursement? me What the of for a wound on mix. before kind going of more in to you little care on helped in kind in Maybe trends I this. care state, reimbursement. terms vary care? help by me about States the gone quickly, in the other of reimbursement What of bit think before going understand jump I’m mean, kind map are execution? a of can that Reimbursement trends vary in wound going by terms technologies kind where questions it's the payer were it's as have you the of use United wound to

Kevin Richardson

Sure.

regard, in -- how those treated, what treatments. there treatment, the some want in these mimic is and of say to this advanced to of So is rates to basically closure the healing a of called we rates, be wound are we able for to unnecessarily examples getting of our healing in they're you those paid acceleration these modalities but are want what similar are this crosswalks, say don't are reimbursement to is type higher, and and try go our

the like to is negative they're know is they to get room those range. same Hyperbaric, of per call XXXXX somewhere place similarly $XXX in therapy, cycle So treatment, XX,XXX what do you pressure to full things it. getting $XXX a we between to the dive treatment

in six plus running space the the get six XX,XXX amniotic skin a to They tend substitutes. and to to to range. seeing get four have to That's wound treatments, four treat You're to closed.

and expensive occur. not that's it’s So that an could amputation including

insurance price a then to system make we're a carriers leave table the that's enough can in out it. for on use coming So money, if they'll the decent got goal, we really in the to James confident umbrella, got centers there save make we've facility wound clinician rate can we healing get what the feel And -- money, save come the better and good than is pretty we the to is money. today. the money, so if where the are can that And if the clinicians, -- that making money, we've and the

have pushback on we're haven't a So and of yet. really decent balance to we've lot seeing gotten to good think acceptance I of that, a conclusion you and all out, those and come

results. As far to wound there's as trends get care always pressure go, is

lot volume they a of making sure based. noise You've oriented, heard not recently about are just results

of Hyperbaric, bit take little by seeing negative But – pricing in of much and a because seeing at seen pressure. a you've and more bit place on So very system. talk results some little extremely us, kind pressure think to you're those, coming you're CMS could and the I that's the way a see down device favorable we're that based I of more

a it's They So money. of we the trend go a people price normal lot that's see whenever down. -- to paying want have but

Unidentified Analyst

Okay.

limited That much you're United second it probably that's the to after a States year. my -- six question, launch this in correct is entire going to states. the though, this So is think pretty going to not you've got one going be focus like

ninth move not Is You're XXXX at earliest? fair? state that seventh, eighth, that say into a -- the going or to is until

Kevin Richardson

That's a statement. fair

we the California, now, Pennsylvania got, we've amount where it's U.S. right that opportunity massive -- get those of now I a around right XX% think just think of states. Carolinas, population I the just six Texas, it's and in Illinois, somewhere

let's you a the sales on So states, Every force, focused open six money. I it trainers. our leverage leverage costs time our state, stay let’s think,

ones those will and we'll where -- But we that. to that as those the throughout Tennessee, ramping, run then -- really those be. the placements and in other okay just some something let's a get get say, Memphis like so -- our easy are I us now, need the six identify And a centers, to expand or needs but we'll let's well ramping, to think, right probably going really next target feet do six that. in do states, then because job these are after be we those get six revenue the into to year them the let's six get company the states, get it's are under Those could help good and areas states

we The tell is – right really we aren't hardest states product. tell thing know, us coming We a bigger now that, have focused. that's tell for the asking like know were got at for to have that in asking yeah Idaho can't great people product. you -- and demand at a Massachusetts people a from from there are we Mass General support do And know balance three we product. asking all four that a some of that for here where that doctor product SAWC; we places that's it or know to I in have people you a tough

heard to That results, about get having have it, but -- it's not tough You've with until XXXX people. a we're wondrous going to your state XXXX. to it's or conversation

Unidentified Analyst

Health. these the you're when talking the States, VA partner. Am Indian with excluding this -- different about a this we're that's then states is United when correct? I that program a different And That's in in thinking

Kevin Richardson

you side, through it good them process kind care Premier seeing to space. have they're The they a Health of it's due few out. as some and doing different, Korea, and bad we we there. is VA some partner. know a getting to same now done of great exist, I nuances wound partially that separate as different expecting, a have in and we kind due the we manage than wound a think distribution the that. They've weeks. going. on than Yes. results way apples I I of installs the They're in that's let were some have But they're longer sales were so same getting expecting in occurred Brazil. We because the and so in know, it They're that that a Health been It's view animal it, care country, way, right. organization, different Indian job the last up rolling VA coming

VA someone Health. manages a Indian have partnership with who and We

Unidentified Analyst

back is question market development development of international this your then opportunities recent recent the Middle historically about you America. talked Europe, is my and and with we've so your partner Asia, your this alluded is jump the market these opportunities I South in Europe a but work work because in know just position the as I'll just announcement view Okay, then How type markets development to your your East, queue last to on announcement, in efforts? in help you development you how do you do with -- in in

Kevin Richardson

me on all now, in the would three they well next to Europe health the kind years a Health been made our They're countries. cost own, support it of partners wound there build infrastructure in to Europe. sense, not any got a country Let we the stagnant market cost are with Alira. focused our make care, players, hasn't wound therefore the We of it years our Europe in It kind the money. regarded we're U.S. years meaning premier right of ourselves and of There on that on from We've in approach lot as -- benefiting to in presence. got infrastructure the of I'm sure want to Europe. as it's a what by would leader for And the with they're these good care. They've XX longer number Throw it us is had not introduced, a we're product fully distribution what known, basis a there. have probably but shareholders now, a rollout from well it know the care. over have and on becoming know start really country in on and great are math but got in it. They you've and X partnerships would mix that's big doing you've term, really in hasn't Alira a might to have made company. [ph] new sure, about been companies more We had nuances by grown. stuff going a ourselves over reimbursement. done and on Brexit, guy

with that effort one we'll us us let formal Alira in something them of third in decided fashion. have consolidate And we've the confident organized a done and very off quarter. instead to we're by help So it it, do

Unidentified Analyst

anyway. Smith had then so, And wound care in activity the the in I get great. the the Okay, seems well XM sector Nephew as think announcement some & an space in announcement sector sector and to maybe

back jump in I'll you. queue. Thank great. Okay,

Kevin Richardson

James. Thanks

Operator

no remarks. appears so time at Instructions] closing I'll for to there back this questions over [Operator it And Kevin it turn are any

Kevin Richardson

you, Great. Christie. Thank

know really We First been really the few shareholder six of why a money propel to getting excited international visit, we We've also are swing those help addresses And many and leverage having of excited XXX you down and the year. think, about sheet our us specifically thank especially position us We're we're covered confident we'll the not that get of the Come reimbursement, with place wants U.S. -- and And to opportunities We'll us opportunities thank U.S. much concerns finally, this and pay those working taking put very or today the I our and ever because up throughout to to we've the states. develop time that. for you that investors partners for front and going to Probably us questions, partnerships a a can in in to helps a we're most about call. million has in listen. countries give begin very we $X Again, great foremost, those, that the devices I about by dividends opportunities balance lives quarter. opportunity. came the if April big follow way want to us that spending it's approaching had May anyone forward, investors in on in road, the in down. expressed there's that's is one please going so excited. we're this the where past in have

call. that to may up, be September. meeting the great heads sometime that And you a day. later It year, as some slide much. Have but be have horizon. in October, a Thank should on do very should that and coming you just wondering know please a we an this follow us about are you give If been can have questions, of annual any up I if

Operator

teleconference. And that for We your does participation. conclude thank today's you

your lines this day. You time great a disconnect may at and have

SANUWAVE Health (SNWV) 21 May 192019 Q1 Earnings call transcript