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CLEARWATER, Fla. - Apyx Medical Corporation (NASDAQ:APYX), a $96 million market cap medical device company whose stock has surged nearly 90% over the past year, announced Monday the launch of its Renuvion technology in China following initial market clearance from the National Medical Products Administration of China.
The company, which maintains a healthy current ratio of 5.45 and generates a robust gross margin of 61.49%, has entered into a distribution agreement with GlamMoon Medical Technology, a division of BeauCare Clinics Investment Co., Ltd. (BCC), to market and sell the helium plasma technology in the Chinese market.
"The launch of Renuvion in China marks a significant milestone in our global expansion strategy," said Charlie Goodwin, President and CEO of Apyx Medical Corporation, according to the press release.
Ariel Liu, CEO of GlamMoon Medical Technology, stated that "the early response from physicians has been very positive," noting strong potential for the technology in China.
The company indicated that the current market entry will establish a commercial foundation for expanded regulatory approvals for Renuvion in China. BCC operates over 60 medical aesthetics hospitals and clinics across 15 Chinese cities and manages a purchasing alliance with more than 400 members across 30+ cities. According to InvestingPro analysis, while Apyx is currently trading near its 52-week high, the stock appears slightly overvalued based on its Fair Value assessment.
Renuvion is part of Apyx Medical’s Helium Plasma Platform Technology products, which are marketed for the cosmetic surgery market. While the company stated that the effectiveness of its technology is supported by more than 90 clinical documents, InvestingPro data shows the company is not yet profitable, with an EBITDA of -$14.7 million in the last twelve months. For deeper insights and 10+ additional ProTips about APYX, including detailed financial analysis and growth prospects, check out the comprehensive Pro Research Report available on InvestingPro.
The announcement comes as Apyx Medical continues to implement its international commercialization strategy for its advanced energy technology products, with current annual revenues of $47.29 million.
In other recent news, Apyx Medical Corporation reported its first-quarter 2025 earnings, exceeding analyst expectations. The company achieved an earnings per share of -$0.10, outperforming the forecasted -$0.12. Revenue for the quarter reached $9.4 million, slightly above the projected $9.35 million. In addition to the financial results, Apyx Medical received clearance from the U.S. Food and Drug Administration for its AYON Body Contouring System. This new system integrates fat removal, tissue contraction, and electrosurgical capabilities, using the company’s proprietary Renuvion technology. The FDA clearance allows for a wide range of aesthetic treatments, and Apyx Medical plans to seek further clearances for expanded indications later this year. The company intends to launch the AYON system with key opinion leader surgeons in various regions during the second half of 2025.
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