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But these statements have now been retracted, with the company warning investors not to make any trading activities on the strength of them.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

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Tags ASIC ASX:MGZ Guidance healthcare Medigard

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