What's happened
Scottish ultrasound technology firm Novosound is expanding internationally after moving to a new headquarters in Glasgow and increasing its workforce. The company secured a £2 million investment and a contract with a US energy group, focusing on growth in North America and Asia.
What's behind the headline?
Growth Strategy
- Novosound's relocation to BioCity in Glasgow signifies a commitment to scaling operations.
- The recent £2 million investment will support further development and hiring.
Market Focus
- With 70% of revenue from the US, the company is prioritizing North American expansion.
- The introduction of the Ceilidh sensor platform in industrial markets and Slanj platform in healthcare indicates a diverse application of technology.
Talent Acquisition
- New hires in engineering and marketing will enhance Novosound's capabilities.
- The addition of experienced professionals like Praveen Ashok and Melissa Hartley is expected to drive innovation and market reach.
Future Outlook
- Participation in CES 2025 will showcase Novosound's technology, potentially attracting new clients and partnerships.
- The focus on cardiovascular health aligns with global health trends, positioning Novosound for future growth.
What the papers say
According to Scott Reid in The Scotsman, Novosound's CEO Dave Hughes emphasized the company's strong revenue growth in 2024 and its focus on North American and Asian markets. The article highlights the strategic importance of the new headquarters and recent hires, stating, 'We are now doing around 70 percent of our revenue in the States, so that will remain a focus in 2025.' This aligns with the company's broader strategy to leverage its innovative ultrasound technology in various sectors, including healthcare and industrial applications. The Scotsman notes that Novosound's participation in CES 2025 will be crucial for showcasing its advancements, particularly in ultrasonic blood pressure monitoring technology, which addresses a significant global health issue.
How we got here
Novosound has been scaling operations since its inception, focusing on innovative ultrasound solutions for various markets. The company has seen significant growth in revenue and client base, particularly in the US.
Go deeper
- What technologies is Novosound showcasing at CES?
- How is Novosound addressing cardiovascular health?
- What are the implications of their US market focus?
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