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Sonomedical to open the third unit in Spain

Sonomedical launched its third unit in Spain, after those located in Madrid and Zaragoza. The company has been operating a thyroid nodule treatment unit at the center owned by Laboratorios Echevarne since 2016. Sonomedical is committed to being in around 20 medical facilities over the next four years. Within the national territory, the next community where it will be implemented will be Andalusia.

Isaac Atwood

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This picture show a city in Spain.

The Spanish healthcare technology company, Sonomedical, focused on non-invasive treatments of thyroid nodules using ultrasound, has opened its third specialized unit in Spain, which is located in the Sagrada Familia Clinic in Barcelona.

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The company uses technology based on high-intensity focused ultrasound (Hifu)

Specifically, Sonomedical has been operating a thyroid nodule treatment unit at the center owned by Laboratorios Echevarne since 2016. The equipment alone will cost approximately $0.55 million (€0.5 million), according to the management of Sonomedical, although they pointed out that there are other associated indirect costs.

“We share the philosophy of the Echevarne family very well. It is a clinic that is undergoing a process of renovation and with which we see that we can establish great synergies in endocrinology,” explained the company.

This department is coordinated by Dr. Guillem Cuatrecasas, who will work with the medical management of Sonomedical, led by Paco Ortiz Remacha. The Echevarne group, currently run by the brothers Alfonso and Fernando Echevarne Santamaría, recorded a turnover of $184 million (€168 million) in 2018. Earnings before interest, taxes, depreciation, and amortization (Ebitda) were $27 million (€24.5 million) at the end of last year.

The Barcelona unit joins the ones that Sonomedical has at the Santa Elena Clinic, a center that depends on the Hospitales Católicos in Madrid, and the Viamed Montecanal Hospital in Zaragoza. At these facilities, the company uses technology based on high-intensity focused ultrasound (Hifu).

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Sonomedical plans to reach 20 locations by 2024

Sonomedical is committed to being in around twenty medical facilities over the next four years. The company explained that within the national territory, the next community where it will be implemented will be Andalusia.

Outside the Spanish borders, the company is focusing its plans on new openings in Italy and the United Kingdom. “We are in negotiations with our manufacturer to open soon in these countries,” the company said. The manufacturing company with which Sonomedical works is the French company Theraclion, a company listed on Euronext Growth Paris.

An equity loan was requested last year by Sonomedical to secure its development

To sustain its growth, Sonomedical requested an $8.78 million (€8 million) equity loan last year. Initially, the company planned to open a financing round of $1.65 million (€1.5 million), a forecast that fell short.

The prevalence of people affected by thyroid nodules is seven million and the vast majority of these are benign, while around 5% are malignant. It is estimated that the percentage of people affected by thyroid nodules in Spain is ten points below the decade in which they are found. For example, at the age of forty we would speak of a 30% prevalence, reaching rates of more than 50% from the age of sixty.

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Isaac Atwood is a PR and marketing consultant who has worked with respected names in the financial industry. He has also sat down in many sessions with startups aiming to become the next unicorn. Isaac loves working with CEOs, business executives, and entrepreneurs who wish to enter the following markets: artificial intelligence, cannabis, virtual reality, cryptocurrencies, robotics, wearable and smart tech, and even the much-hyped space race. He is currently managing the brand portfolio of an Asian firm planning for its IPO by the end of the year. While his engagements have taken him around the world, Isaac is proud to call Toronto his home.