Medicsight PLC (AIM: MDST), industry leader in the development of Computer-Aided Detection (CAD) and image analysis software to assist in the early detection and diagnosis of disease, is pleased to announce its results for the third quarter ended 30 September 2008.

Summary Financial Data

For the nine months to 30 September 2008

• net revenue from external customers was £57,000 (30 September 2007: £6,000)


• operating loss before interest and tax of £7,301,000 (30 September 2007: £5,449 ,000)


• The Group's cash and equivalents balance at 30 September 2008 was £20,613,000 (30 September 2007: £26,333,000)


• The Group's total assets position at 30 September 2008 was £21,986,000 (30 September 2007: £27,412,000)

David Sumner, Chief Executive of Medicsight PLC commented:  "We are making good progress against our operational objectives and are in a strong financial position with £20.6 million in cash on the balance sheet at 30 September.  In line with our strategy, we continue to bolster our network of distribution partners and are currently in discussions regarding additional commercial agreements.  This year we have achieved regulatory approvals for our MedicRead Colon workstation and ColonCAD™ software in China and Brazil and we are progressing well with the regulatory processes in Japan and the US.  We are also forging ahead with new research and development initiatives to develop new CAD related products for use with non-Radiology based customers, with the initial feasibility studies expected to be completed during 2009.  Finally, and in line with expectations, Medicsight plans to unveil its online MedicRead Colon solution for selected geographies and Lung and Liver applications in early December at the Radiological Society of North America (RSNA), 95th Scientific Assembly and Annual Meeting. "