Oncologix updates on earnings
LAFAYETTE, La. – Oncologix, a diversified medical holding company with operating divisions in medical devices, healthcare services and DME sales and distribution, expects to grow annualized revenues to $25 million by the end of 2015, it announced April 14. It also expects to achieve positive EBITDA of more than $2.6 million. “Our stock price does not accurately reflect the hard work and success of our operating activities and it remains severely undervalued,” CEO Wayne Erwin stated in the release. “With our continued execution on our acquisition and growth plan, we are confident that our stock value will rise in the coming year to its true, fair market values.” Oncologix is in the process of closing the acquisition of a DME company with annual revenues of about $9.8 million that will add $2.2 million in positive EBITDA.