Connect with us

Technology

Kamux Corporation’s Financial Statements Bulletin for January 1–December 31, 2023: Revenue grew and adjusted operating profit increased significantly during the fourth quarter

Published

on

Kamux Corporation, Financial Statement Release, 1.3.2024 at 9:00

HÄMEENLINNA, Finland, March 1, 2024 /PRNewswire/ — Kamux Corporation’s Financial Statements Bulletin for January 1—December 31, 2023: Revenue grew and adjusted operating profit increased significantly during the fourth quarter

This is a summary of Kamux Corporation’s Financial Statements Bulletin for January 1—December 31, 2023. The complete report is attached to this release and is also available at the company website at kamux.com.

The figures in parentheses refer to the comparison period, i.e., the same period in the previous year, unless stated otherwise.

October—December in brief

Revenue increased by 8.4%, totaling EUR 241.6 million (222.9)Gross profit increased by 23.4% to EUR 26.1 million (21.2), or 10.8% (9.5) of revenueAdjusted operating profit (EBIT) increased by 164.1% to EUR 5.5 million (2.1), or 2.3% (0.9) of revenueOperating profit (EBIT) increased by 176.9% to EUR 4.5 million (1.6), or 1.9% (0.7) of revenueThe number of cars sold increased by 11.4% to 16,354 cars (14,681)Like-for-like showroom revenue growth was 8.2% (-10.9)Basic and diluted earnings per share were EUR 0.06 (0.00)

January—December in brief

Revenue increased by 3.5%, totaling EUR 1,002.1 million (968.7)Gross profit increased by 9.0% to EUR 102.5 million (94.1), or 10.2% (9.7) of revenueAdjusted operating profit (EBIT) increased by 3.2% to EUR 18.0 million (17.5), or 1.8% (1.8) of revenueOperating profit (EBIT) decreased by -7.1% to EUR 15.8 million (17.0), or 1.6% (1.8) of revenueThe number of cars sold increased by 8.5% to 68,257 cars (62,922)Like-for-like showroom revenue growth was 2.9% (0.6)Basic and diluted earnings per share were EUR 0.24 (0.27)The Board of Directors proposes a dividend of 0.17 EUR per share (0.15) to be distributed for the year 2023. The dividend is proposed to be paid in two installments. The proposed dividend is 71 % of the profit per share for the fiscal year 2023 (55).Tapio Pajuharju assumed his role as CEO of Kamux on June 1, 2023. Kamux’s founder and previous CEO Juha Kalliokoski stepped down from the Company’s operative management on June 30, 2023.

Key Figures

EUR million

10−12/2023

10−12/2022

Change, %

1−12/2023

1−12/2022

Change, %

Revenue

241.6

222.9

8.4 %

1,002.1

968.7

3.5 %

Gross profit

26.1

21.2

23.4 %

102.5

94.1

9.0 %

as percentage of revenue, %

10.8 %

9.5 %

10.2 %

9.7 %

Operating profit (EBIT)

4.5

1.6

176.9 %

15.8

17.0

-7.1 %

as percentage of revenue, %

1.9 %

0.7 %

1.6 %

1.8 %

Adjusted operating profit*

5.5

2.1

164.1 %

18.0

17.5

3.2 %

as percentage of revenue, %

2.3 %

0.9 %

1.8 %

1.8 %

Revenue from integrated services

15.4

15.3

0.6 %

53.0

52.9

0.2 %

as percentage of revenue, %

6.4 %

6.9 %

5.3 %

5.5 %

Number of cars sold

16,354

14,681

11.4 %

68,257

62,922

8.5 %

Gross profit per sold car, EUR

1,597

1,442

10.8 %

1,502

1,495

0.5 %

Sales growth of like-for-like showrooms, %

8.2 %

-10.9 %

2.9 %

0.6 %

Net debt

53.8

59.1

-9.0 %

Inventories

117.2

114.1

2.7 %

Inventory turnover, days

46.9

51.5

-8.9 %

Capital expenditures

0.6

0.7

-13.2 %

1.8

3.1

-42.9 %

Average number of employees during the period

885

883

0.2 %

Return on equity (ROE), %

8.7 %

10.1 %

Return on investment (ROI), %

6.6 %

7.2 %

Equity ratio, %

51.9 %

53.2 %

Earnings per share, basic and diluted, EUR

0.06

0.00

1473.2 %

0.24

0.27

-11.6 %

*) Operating profit adjusted for special items related to strategic planning, legal processes, taxes from previous financial years, own real estate operations and other items, totaling EUR 1.0 million for the fourth quarter of 2023 and totaling EUR 2.2 million for 1−12/2023 (10-12/2022: EUR 0.5 million and 1−12/2022: EUR 0.4 million).

CEO Tapio Pajuharju:

“The used car market stabilized in all operating countries during 2023 and demand developed in a positive direction. However, volumes were still at a lower level than in 2021. It is great that despite the challenging early part of the year, we succeeded in our most important goal, i.e. improving our profitability. I am particularly pleased about our success in Finland, where the entire second half of the year was commercially excellent, and where we have further strengthened our market position. In Sweden, we continue to work to improve profitability, but even there our systematic work brought results and gross profit developed positively. In Germany, we opened two new showrooms in areas new to us during the year.

During the year, we also succeeded in reversing the trend in the volume of cars sold and sold a total of more than 68,000 cars (+8.5%), of which 16,354 in the last quarter of the year (+11.4%). In Finland, both Q3 and Q4 were all-time-high quarters in terms of the number of cars sold. In Sweden, the market was challenging and our focus on improving profitability was to some extent reflected in the decreasing number of cars sold. In Germany, the number of cars sold grew strongly, even though the second new showroom was only opened at the very end of the year and the market development in our core region of Schleswig-Holstein was significantly weaker than in the entire country.

With the strong development of our Finnish operations, we also reached an important milestone as our annual revenue exceeded one billion euros, marking an increase of 3.5% from the previous year. In the last quarter of the year, our revenue grew by 8.4% and was EUR 242 million. The price level of used cars remained stable during the year but prices continued to be at a lower level than in the previous year, which is also reflected in the revenue growth percentages.

At the end of the year, the purchasing market was normal in all operating countries. Despite the easing of inflation, consumers were still quite cautious and were generally looking for more affordable and economical cars. The electrification of the car fleet progressed in 2023, but e.g. the development of electricity and fuel prices and changes in the prices of new cars affected the demand for rechargeable used cars, as many consumers hesitated in their decisions and postponed the purchase of a car while waiting for more information. The number of plug-in hybrids and EV’s sold by Kamux increased by 67% in the fourth quarter compared to the corresponding period of the previous year and by 32% for the whole year.

I am particularly pleased with the gross profit development, and we’ve done great systematic work to improve the gross profit, especially in Finland and Sweden. As a result of the good gross profit development, our adjusted operating profit developed positively despite being burdened by e.g. increased sales incentives following the good development in the number of cars sold and car margin. In addition, the operating profit was burdened by costs related to opening new showrooms in Germany and the significant investments in the processing of cars and customer service that were begun in the third quarter. The operating profit was also negatively impacted by the increased costs resulting from the capacity increase in Sweden, especially as the capacity has not been brought to full productivity. In addition, we have identified misconduct in our Swedish operations. Corrective measures in relation to misconduct are ongoing. The Group’s adjusted operating profit was EUR 5.5 million (+164%) in the fourth quarter and EUR 18.0 million (+3.2%) for the whole year. Operating cash flow was strong, considering the season.

The first eight months as the CEO of Kamux have been dynamic and rewarding. I would like to offer warm thanks to the skilled and motivated Kamux employees for their good work and continuous improvement. I would also like to thank all our customers and partners for their trust. The maintenance measures and updates of the Kamux concept have progressed as planned and we will continue them in 2024. Our strategy update is also in its final stages, and we will publish our updated strategy at the Capital Markets Day on March 20. Welcome!”

Outlook for the year 2024

Kamux expects its adjusted operating profit for 2024 to exceed its 2023 adjusted operating profit, which was EUR 18.0 million.

Long-term targets

Kamux will publish its updated strategy and long-term targets on Wednesday, March 20, 2024.

Significant events after the reporting period

On January 22, 2024, Kamux announced that the Board of Directors of Kamux Corporation had resolved to establish a matching share plan for the recognized rising key employees of the Group. The Green Lions Plan 2024–2029 includes four (4) matching periods, covering the years 2024–2026, 2025–2027, 2026–2028 and 2027–2029. The prerequisite for participation in the plan and receiving a reward is that a participant has personally acquired Kamux shares within the limits set by the Board of Directors. Furthermore, payment of the reward is based on the participant’s valid employment contract upon reward payment. The target group of the first matching period of January 1, 2024December 31, 2026, consists of approximately 70 recognized future key employees, who are not included in Kamux’s other share-based incentive plans. The rewards to be paid on the basis of the plan correspond to the value of an approximate maximum total of 270,000 Kamux Corporation shares (estimated using the closing share price of January 17, 2024, EUR 5.23), including also the proportion to be paid in cash. The rewards from the first matching period will be paid by the end of March 2027.

On January 26, 2024, Kamux announced the Shareholders’ Nomination Board’s proposals for the Annual General Meeting 2024. The Shareholders Nomination Board proposes that the company’s Board of Directors shall have seven (7) members, and that the current members Juha Kalliokoski, Terho Kalliokoski, Antti Mäkelä, Harri Sivula and Jaana Viertola-Truini be re-elected as members of the Board of Directors and Maren Kroll and Kati Riikonen be elected as new members of the Board of Directors. Additionally, the Shareholders’ Nomination Board proposes to the AGM that Terho Kalliokoski be re-elected as Chairperson of the Board of Directors and Harri Sivula be re-elected as Vice Chairperson of the Board of Directors. According to the evaluation made by the nominees themselves and by the Shareholders’ Nomination Board, Juha Kalliokoski is dependent of both the company and its significant shareholders whilst the other nominees are independent of the company and of its significant shareholders. In addition, the Shareholders’ Nomination Board proposes to the AGM that the annual remuneration of the members of the Board of Directors and the committee fees be modestly raised.

On February 1, 2024, Kamux announced that a total of 2,092 Kamux Corporation’s shares had been returned free of consideration to Kamux Corporation in accordance with the terms and conditions of the Corporation’s share-based incentive scheme 2020 and 2021. After the return, Kamux Corporation held a total of 9,053 own shares.

On March 1, 2024, Kamux announced that the Board of Directors of Kamux Corporation has decided to approve a new long-term incentive Plan for the Group’s key persons for 2024–2026. The Plan commences at the beginning of 2024 and it is divided into three one-year performance periods. For the 2024 performance period, the payment of the potential reward from the Plan is based on exceeding the company’s operating profit threshold set by the Board of Directors, as well as on the development of earnings per share (ESP) and total shareholder return (TSR) and exceeding a certain ESG target indicator on an annual basis. The Board of Directors has selected 38 key persons, including the CEO, to participate in the Plan. In accordance with the terms and conditions of the Plan, the Board of Directors may decide during the performance period on the admission of new participants to the Plan. If a participant’s employment or service ends before the reward payment, the reward will not, as a general rule, be paid. If the maximum targets set for the performance criteria of the performance period 2024 are reached, the total amount of rewards to be paid based on the Plan for the performance period 2024 is approximately EUR 2.5 million (gross), corresponding to an estimated maximum of approximately 456,000 Kamux shares, when the value is calculated based on the volume-weighted average share price of Kamux’s share in January 2024. In addition, the Board of Directors has resolved that the long-term share-based incentive plan for 2023–2026 for CEO Tapio Pajuharju, that was announced on June 21, 2023, will be discontinued as of January 1, 2024, and that CEO Tapio Pajuharju will participate in the company’s new share-based incentive plan described above as of January 1, 2024. The Board of Directors has decided on a fixed maximum reward for the CEO for the performance period 2024. The maximum reward to be paid for the performance period 2024 is a maximum of 123,000 shares.

Kamux Corporation’s financial reporting and AGM in 2024

Publication schedule for Kamux Corporation’s financial reporting in 2024 is as follows:

Interim Report for January—March 2024                   May 17, 2024Half-Year Report for January—June 2024                 August 16, 2024Interim Report for January—September 2024           November 8, 2024

The Annual Report for 2023 including Financial Statements will be published on the week commencing March 25, 2024.

The Annual General Meeting of Kamux Corporation is scheduled to be held on April 18, 2024.

News conference

News conference for investors, analysts and media will be held today, Friday, March 1, 2024, at Sanomatalo, Flik Studio Eliel, 1st floor, Töölönlahdenkatu 2, Helsinki at 11:00 EET in English. CEO Tapio Pajuharju and CFO Jukka Havia will present the Financial Statements.

The conference can be followed as a live webcast at https://kamux.videosync.fi/q4-2023

Participation by conference call:

You can access the teleconference by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference. If you wish to ask a question, please dial *5 on your telephone keypad to enter the queue.
https://palvelu.flik.fi/teleconference/?id=50048520
 

For further information, please contact:
CEO Tapio Pajuharju, tel. +358 50 577 4200 
CFO Jukka Havia, tel. +358 50 355 3757
Head of Communications & IR Katariina Hietaranta, tel. +358 50 557 6765  

Kamux Corporation
Communications

Kamux is a retail chain specialized in used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has a total of 78 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux’s revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com  

The following files are available for download:

https://mb.cision.com/Main/17647/3938789/2639902.pdf

Kamux Corporation_Financial Statements Bulletin_2023

 

View original content:https://www.prnewswire.co.uk/news-releases/kamux-corporations-financial-statements-bulletin-for-january-1december-31-2023-revenue-grew-and-adjusted-operating-profit-increased-significantly-during-the-fourth-quarter-302076869.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Penn Medicine, Children’s Hospital of Philadelphia team awarded Breakthrough Prize for developing gene therapy for inherited blindness

Published

on

By

LOS ANGELES, April 18, 2026 /PRNewswire/ — Their discovery started with a group of blind dogs living at a vet school. Now, the work has been awarded the prestigious Breakthrough Prize at the “Oscars of Science.”

Today, Jean Bennett, MD, PHD, and Albert Maguire, MD, both emeritus professors of Ophthalmology in the Perelman School of Medicine at the University of Pennsylvania, and Katherine High, MD, an emeritus professor of Pediatrics and the founding director of the Raymond G. Perelman Center for Cellular and Molecular Therapeutics at Children’s Hospital of Philadelphia (CHOP), received the Breakthrough Prize in Life Sciences for their work in developing the first FDA-approved gene therapy for an inherited condition, which dramatically improves sight in people with a form of blindness called Leber Congenital Amaurosis (LCA).

Their work blazed a trail for the more than 140 gene therapy trials for retinal conditions, including macular degeneration and diabetic retinopathy, diseases that collectively impact about 30 million people in the US. Eighty more trials are currently underway.

“Even 20 years ago, treating people with gene therapy was seen by some as an impossibility,” said Jonathan Epstein, MD, dean of the Perelman School of Medicine and executive vice president of the University of Pennsylvania for the Health System. “But this group of incredible physician-scientists persisted and created something that is providing sight to people who would have been completely blind as early as kindergarten. Their belief in the power of life-changing science has led to breathtaking results and richly deserved global recognition.”

The Breakthrough Prizes are called the “Oscars of Science” for their high-profile celebration of research and support from celebrities spanning numerous areas of pop culture. Created in 2012 by Sergey Brin, Priscilla Chan and Mark Zuckerberg, Yuri and Julia Milner, and Anne Wojcicki, the prizes are given out in five categories including Life Sciences, Fundamental Physics, and Math, each with an accompanying $3 million award.

This year’s accolade now means that nine Penn-affiliated researchers have received the Breakthrough Prize, tied for the most with Harvard University. The prior Penn Medicine award winners are Carl June, PhD (2024), Drew Weissman, MD, PhD, and Katalin Karikó, PhD (2022), and Virginia M.Y. Lee, PhD (2019). Additionally, Penn faculty members Charles Kane, PhD, and Eugene Mele, PhD, won the prize for Physics in 2019. Mathew Madhavacheril, PhD, an assistant professor of Physics and Astronomy in Penn’s School of Arts & Sciences, also received recognition at this year’s Breakthrough Prize ceremony when he was honored with the New Horizons in Physics award, given to researchers early in their careers.

“Science is rarely a straight path, and those who make the most profound discoveries are resilient and persistent, overcoming obstacles along the way,” said J. Larry Jameson, MD, PhD, president of the University of Pennsylvania. “That is exactly what I see in this year’s awardees, and it has been true of all our remarkable faculty who have been recognized for scientific breakthroughs. Whether they are discovering what lies beneath Alzheimer’s Disease, curing cancer by engineering a patients’ own immune cells, or reversing blindness—they have persisted with imagination and rigor. Their steadfastness has pushed the boundaries of what medicine can achieve.”

“Developing cell and gene therapies has long been a top priority for our organization,” said Madeline Bell, CHOP’s CEO. “This breakthrough is the result of decades of investment and collaboration, and reflects our commitment to translating scientific discoveries into therapies that will transform patients’ lives. It has paved the way for many more cell and gene therapy innovations and has given hope to families around the world.”

“They can see!”

Bennett and Maguire met and married during medical school in the 1980s. It was then that they both became intrigued by the concept of genetic therapy, the practice of replacing a mutated or faulty gene with a functional copy, and started dreaming of treating inherited forms of blindness with the technique, which at that time remained the stuff of science fiction.

It was “like thinking you wanted to go to the moon in 1950,” Maguire said many years later.

Both Bennett and Maguire joined Penn’s Scheie Eye Institute in the 1990s and began working on their ideas with lab mice. They learned that the University of Pennsylvania School of Veterinary Medicine housed a group of blind dogs who had a condition similar to the human disease: Leber congenital amaurosis (LCA). People born with a mutation on the RPE65 gene have poor vision starting at birth and often progress rapidly to complete blindness, usually by their 20s, but sometimes in early childhood.

The pair developed a therapy that used a virus as a transport, carrying a piece of DNA into cells that would then correct the faulty, blindness-causing proteins formed by the bad gene. The idea: Once the proteins were set right, some sight might return. First, they tested the therapy by injecting it into a single eye in each of three dogs.

It wasn’t long until they knew whether it worked. Bennett recalls receiving an excited phone call from a technician at the lab, who exclaimed, “They can see!”

Sure enough, the dogs were twirling around, using their treated eyes to see. Before treatment, the dogs had bumped and tripped through an obstacle course set up to test their sight. After the full treatment, the course was an easy task for the dogs.

A knock on the door

In parallel with Bennett and Maguire’s dreams of gene therapy, High was also working to bring the field forward. Like Bennett and Maguire, she had achieved long-term reversal of a serious genetic disease in a dog model: In her case, for hemophilia, a life-threatening bleeding disorder. High had advanced these studies from success in dogs to initial clinical trials in humans, delivering the donated gene into skeletal muscle and the liver.

The work was promising, but the human immune response to the gene delivery vessel—which was derived from a virus in the same way Bennett and Maguire’s therapy was—prevented sustained benefits from the therapeutic gene. At the same time, companies and investors, discouraged by high profile negative events, began to turn away from gene therapy. Progress stalled. 

But with support from CHOP, High founded the Raymond G. Perelman Center for Cellular and Molecular Therapeutics (CCMT) in 2004. She recruited experts in all aspects of clinical gene therapy, including specialized knowledge in the manufacturing and release of gene therapy vectors, which are the particles that deliver a healthy copy of a defective gene to patients.

After vector production was set up at CHOP, High went to Bennett’s office and knocked on the door with a proposition to start a clinical trial in humans. In 2007, Maguire, who was then a surgeon in Pediatric Ophthalmology at CHOP, administered an injection of the experimental therapy at CHOP into a clinical trial participant – a 26-year-old woman—for the first time. Her twin, with the same condition, received the treatment shortly after.

When the team assessed the treatment of the 37 eligible participants from the original clinical trials, 72 percent reported the maximum possible improvement in a test of low-light conditions, which simulates night vision. Amid these, many reported improved peripheral and central vision, too. One patient, who could only detect changes in light, was suddenly able to navigate walking through Philadelphia at night, unaided, and could make out the clock on City Hall. Another patient was able to see a star for the first time in her life just six days after the procedure.

In 2017, the therapy—by then manufactured by Spark Therapeutics, a spinout from CHOP, and called Luxturna—received approval by the U.S. Food and Drug Administration. It became the first FDA approval of a genetic therapy for an inherited disease. Today, hundreds of people around the world have successfully received the treatment.

A celebration of decades of work

Today’s celebration in Los Angeles marks a celebratory milestone in roughly 40 years of work led by Bennett, Maguire, and High that has inspired others in the now vibrant field of gene therapy. In fact, a treatment stemming from High’s original work with hemophilia received FDA approval in 2024.

“We always just did what we thought you were supposed to do if you were a doctor: Find treatments for diseases,” said Maguire. “Both my father and Jean’s worked in science, and it seemed normal to try to push the envelope.”

“I think the only surprise for us was that things worked out so well,” Bennett said. “For every success, there are usually so many failures. That’s just the nature of science. But our team hit on something that has helped so many people and helped progress the field, and we’re really grateful for our part in that.”

High described the journey between the start of her collaboration with Bennett and Maguire in 2005 and the FDA approval in 2017 as “an arduous one.”

“At times, it seemed that the number of obstacles we needed to overcome to reach regulatory approval was never-ending,” High said. “Working without the benefit of the guidelines and precedents we now have today, we sought to solve each day’s problems so that the program would have a tomorrow. It was a bold and uncertain investment of time, effort, and resources. Few were willing to take on the risks, but it ultimately paid off, and it helped build the foundation of modern gene therapy.”

About Penn Medicine:
Penn Medicine is one of the world’s leading academic medical centers, dedicated to the related missions of medical education, biomedical research, excellence in patient care, and community service.

The organization consists of the University of Pennsylvania Health System and Penn’s Raymond and Ruth Perelman School of Medicine, founded in 1765 as the nation’s first medical school.

The Perelman School of Medicine is consistently among the nation’s top recipients of funding from the National Institutes of Health, with more than $588 million awarded in the 2024 fiscal year. Home to a proud history of “firsts,” Penn Medicine teams have pioneered discoveries that have shaped modern medicine, including CAR T cell therapy for cancer and the Nobel Prize-winning mRNA technology used in COVID-19 vaccines.

The University of Pennsylvania Health System cares for patients in facilities and their homes stretching from the Susquehanna River in Pennsylvania to the New Jersey shore. UPHS facilities include the Hospital of the University of Pennsylvania, Penn Presbyterian Medical Center, Chester County Hospital, Doylestown Health, Lancaster General Health, Princeton Health, and Pennsylvania Hospital—the nation’s first hospital, chartered in 1751. Additional facilities and enterprises include Penn Medicine at Home, GSPP Rehabilitation, Lancaster Behavioral Health Hospital, and Princeton House Behavioral Health, among others.

Penn Medicine is a $13.7 billion enterprise powered by more than 50,000 talented faculty and staff.

About Children’s Hospital of Philadelphia:
A non-profit, charitable organization, Children’s Hospital of Philadelphia was founded in 1855 as the nation’s first pediatric hospital. Through its long-standing commitment to providing exceptional patient care, training new generations of pediatric healthcare professionals, and pioneering major research initiatives, the hospital has fostered many discoveries that have benefited children worldwide. Its pediatric research program is among the largest in the country. The institution has a well-established history of providing advanced pediatric care close to home through its CHOP Care Network, which includes more than 50 primary care practices, specialty care and surgical centers, urgent care centers, and community hospital alliances throughout Pennsylvania and New Jersey. CHOP also operates the Middleman Family Pavilion and its dedicated pediatric emergency department in King of Prussia, the Behavioral Health and Crisis Center (including a 24/7 Crisis Response Center) and the Center for Advanced Behavioral Healthcare, a mental health outpatient facility. Its unique family-centered care and public service programs have brought Children’s Hospital of Philadelphia recognition as a leading advocate for children and adolescents. For more information, visit www.chop.edu. 

Media Contacts:

CHOP PR Contact:
Ashley Moore
Moorea1@chop.edu
267-426-6071

Penn Medicine PR Contact:
Frank Otto
Frank.Otto@pennmedicine.upenn.edu
267-693-2999

View original content to download multimedia:https://www.prnewswire.com/news-releases/penn-medicine-childrens-hospital-of-philadelphia-team-awarded-breakthrough-prize-for-developing-gene-therapy-for-inherited-blindness-302746319.html

SOURCE Children’s Hospital of Philadelphia

Continue Reading

Technology

Haloid Solutions Expands Access to Radio Equipment by Offering Flexible Financing and Leasing Solutions Named HaloidFLEX

Published

on

By

NEW YORK, April 18, 2026 /PRNewswire/ — As part of Haloid Solutions’ long-term commitment to helping businesses and municipalities acquire critical communications equipment despite budgetary constraints, Haloid now offers specialized financing and leasing programs through its HaloidFLEX program.

Designed to ensure that companies and governments have the equipment they need without costly capital expenditures outlays, HaloidFLEX offers financing for equipment purchased directly from manufacturers or local radio dealers. HaloidFLEX financing offers zero percent and low-interest options as well as predictable monthly payments for qualified buyers. HaloidFLEX clients can even opt to incorporate extended support services and protections into their financing to prepare for accidents, theft, or equipment losses. This gives companies peace of mind with one low monthly payment.

For organizations that don’t want or need to own equipment long-term, the HaloidFLEX leasing program offers similar benefits with potential tax advantages. Companies can lease brand new equipment and upgrade or return it at lease-end as needed. For companies seeking flexible options – or those that are interested in upgrading to the latest technology as it becomes available – leasing makes perfect sense.

One of the added benefits of each program is that HaloidFLEX allows clients to bundle services and protections that would normally be billed separately. Accidental damage, theft, and loss protections can be put in place, so that there’s never a lapse in communication if a radio fails. Extended warranties are also available upon request, so companies can customize their financing and protection to fit their budget and safeguard their equipment simultaneously.

According to a Haloid Solutions spokesperson, “Bundling expenses simply makes sense. It reduces the need for multiple policies and flexes with organizations to ensure critical communication equipment is available when needed while guaranteeing that the company’s investment is protected for the life of the equipment.”

HaloidFLEX financing and leasing programs are available to qualified businesses and municipalities nationwide. To learn more or request a customized quote, visit HaloidSolutions.com.

About Haloid Solutions

Haloid Solutions is the go-to resource for U.S. businesses and municipalities in search of financing and leasing for two-way radios, walkie talkies, communications equipment, accessories, and services. Focused on reliability, affordability, and performance, Haloid strives to equip professionals in all communication-based industries with the resources they need most.

For more information about Haloid Solutions, or details about the HaloidFLEX financing or leasing programs, please visit  https://haloidsolutions.com/collections/lmr-radio-financing-and-leasing-and-subscription-low-cost-payment-options-for-2-way-radio-equipment or contact us on our website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/haloid-solutions-expands-access-to-radio-equipment-by-offering-flexible-financing-and-leasing-solutions-named-haloidflex-302746527.html

SOURCE HALOID SOLUTIONS

Continue Reading

Technology

CAS Holdings Appoints Patrick McDermott as Chief Executive Officer

Published

on

By

Leadership Transition Positions CAS Holdings for Continued Growth and Customer-Focused Innovation

FRANKLIN, Mass., April 18, 2026 /PRNewswire/ — CAS Holdings, a leader in industrial automation distribution, engineering, and integration, is pleased to announce that Patrick McDermott has been named Chief Executive Officer.

McDermott previously served as President and Chief Revenue Officer, where he played a key role in driving growth across the organization, strengthening customer relationships, and leading teams with a clear focus on execution and results.

In his new role as CEO, McDermott will lead CAS Holdings into its next phase of growth, building on the company’s strong foundation and continued commitment to delivering value to customers, partners, and employees.

“I’m honored to step into the role of CEO at CAS Holdings,” said McDermott. “Over the past year, I’ve had the opportunity to work alongside an incredible team, support our customers, and help drive the growth of our organization. I’m excited to build on that momentum as we move into our next chapter.”

CAS Holdings, through its divisions including iAutomation and RND Automation, delivers a full spectrum of industrial automation solutions – from product distribution and technical support to custom machine building and system integration. Serving OEM machine builders and end-users, the company brings deep expertise in motion control, robotics, and vision, along with value-added capabilities such as kitting, sub-assembly, panel building, and turnkey automation systems, acting as an extension of its customers’ engineering and production teams.

McDermott’s leadership will focus on advancing CAS Holdings’ strategic initiatives, strengthening its market position, and continuing to deliver innovative automation solutions that support customers across a wide range of industries.

“We have a strong foundation, a talented team, and a clear direction. I’m looking forward to what we’ll accomplish together,” McDermott said. “Our focus remains on supporting our customers with responsive, local expertise, strong supplier partnerships, and the engineering and production capabilities they rely on to keep their operations running and growing.”

About Complete Automation Solutions Holdings

Complete Automation Solutions Holdings (CAS Holdings) is dedicated to empowering industrial automation companies, including those in the packaging industry, to achieve optimal efficiency and success. With a diverse portfolio encompassing industrial distribution, panel building and assembly, system integration, and robotics, CAS Holdings provides comprehensive packaging machines and solutions tailored to meet industry needs. The company prioritizes strong partnerships, expert engineering, and innovative solutions, ensuring sustainable practices and continuous improvement. CAS Holdings envisions a future where its transformative automation solutions redefine industry standards and drive growth. Committed to transparency and collaboration, CAS Holdings aims to be the most trusted partner in the automation sector.

Press Contact:

Erika Jacques
508-838-8012
http://www.iautomation.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/cas-holdings-appoints-patrick-mcdermott-as-chief-executive-officer-302746520.html

SOURCE CAS Holdings, Inc.

Continue Reading

Trending