Concepta confirms £600k order for myLotus meters

The order, which was previously announced on 6 November, has been placed by ShanDong WeiHai HaiChen Pharmaceutical Co. Ltd in China and revenues from the order will be realised in the fourth quarter.

Chief executive officer Erik Henau said: "I am very pleased to be able to confirm the receipt of this significant order for our myLotus product. We are now starting to see our considerable investment in relationship building, marketing, and setting up manufacturing, logistics and distribution begin to bear fruit in China. We expect to be able to announce further orders in the coming months and I look forward to updating shareholders in due course."

MyLotus addresses the issue of timing of intercourse in relation to fertility hormones. It can detect the actual concentration of the hormones in a woman’s urine sample allowing detailed analysis into issues with ovulation and fertility that aren’t available with other home tests on the market.

Also on Monday, healthcare company said it has conditionally raised £2m before expenses through an oversubscribed placing, the proceeds of which will be used to expedite the geographical expansion of its myLotus fertility product in China, where it currently has three distribution agreements in place targeting an estimated market of 2.3m women per year.

The company plans to further expand this and has identified a total of 25,000 target hospitals with approximately 20 distributors.

At 1140 GMT, the shares were down 6% to 7.75p.