ENDOMAGNETICS LTD

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Grant Thornton UK LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's and the Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. ENDOMAGNETICS LTD · parent
   1. Endomagnetics, Inc. 0% · USA · Sales support and clinical trials in the US
   2. Endomagnetics GmbH 100% · Germany · Sale of medical devices
   3. Endomagnetics SAS 100% · France · Sale of medical devices
   4. Endomagnetics España S.L. 100% · Spain · Sale of medical devices

Significant events

• “On July 25th, Hologic, Inc. announced the successful completion of its acquisition of Endomag following regulatory approvals, which coincided with the Sentimag platform exceeding the treatment of 500,000 cumulative breast cancer patients since its launch.”
• “On April 15th, the FDA approved the PMA Supplement for a 1.0ml dose of Magtrace for all sentinel lymph node biopsy (SLNB) uses and with all restrictions removed. Endomag subsequently agreed a post-approval study to run with the FDA.”
• “On April 29th, Hologic, Inc. announced its intention to acquire Endomag for approximately $310m, subject to customary closing conditions including regulatory approvals.”
• “On May 6th, Endomag was announced as a recipient of the King's Award for Enterprise in International Trade and, at the end of May, the Calgary Health Foundation announced a significant $5.7m (CAD) deal to purchase Sentimag systems for Alberta, starting with four separate sites in Calgary.”
• “Continuing with FDA approvals, Endomag received 510(k) clearance for its next generation Magseed (Magseed Pro) on June 28th.”
• “Shortly thereafter the Group's Medical Device Single Audit Program (MDSAP) recertification audit of its quality management system was successfully completed on July 4th.”
• “On 27 December 2024, the Company sold Endomagnetics, Inc, to Hologic Capital Holdings, Inc., for £955k ($1,200k). This gave rise to Group profit on disposal of £22k.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

16

last 12 months

Capital events

8

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.