Medigard (ASX:MGZ) retracts forecast on value of US deals

Medigard (ASX:MGZ) retracts forecast on value of US deals

Medical device manufacturer Medigard (ASX:MGZ) has retracted revenue forecasts over recently-signed US manufacturing deals after discussions with the ASIC.

The company had on May 26 stated that the manufacturing and distribution deals could potentially deliver up to US$40 million ($43.6 million) in revenue within five years.

But these statements have now been retracted, with the company warning investors not to make any trading activities on the strength of them.

In a statement, Medigard said it acknoledged that “statements regarding the proposed revenue...can only be made on a reasonable basis, and if required, be verified by an independent expert.”

The statement added that Medigard is “not presently in a position to provide a statement in this regard.”

Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags ASIC ASX:MGZ Guidance healthcare Medigard

More about Australian Securities & Investment Commission

Show Comments