Epica International Announces 2017 Results and $14M Human Funding Round
SAN CLEMENTE, Calif., July 30, 2018 /PRNewswire/ -- Epica International Inc., a privately held CT Imaging and Robotics company with operations in California and Italy, reported today two significant events:
2017 third-party certified revenue results of $24.1M with an EBITDA of +$2.2M
An investment infusion of $12.2M, followed by a second, milestone-dependent traunch of $1.8M
Frank D. D'Amelio, CEO of Epica International Inc., stated, "I am pleased to report our progress on multiple fronts:
Revenue: Final 2017 revenue has confirmed at $24.1M, a 33% increase over 2016 (which was a 34% increase over 2015);
EBITDA: a positive 2017 EBITDA of $2.2M (a $3M improvement over the previous period);
Investment: the healthcare investment group, SWK Holdings, has just provided an infusion of $12.2 M, followed by a second, milestone-dependent traunch of $1.8 M, earmarked for early 2019 and Human Health Market Expansion: our R&D activities, coupled with the use of the SWK proceeds, are both focused on the launch of our unique CT imaging platform into the human market and the further development of our robotic surgery platform, which represents a fusion of CT imaging + robot guidance."
"We are pleased to partner with Epica International with this nondilutive financing," said Winston Black, CEO of SWK Holdings. "We are impressed with the depth of the management team, sales execution in existing product verticals, and product roadmap that may lead to entering the human imaging and robotic market in coming years."