A world leader in the design and manufacturing of medical devices, ImpediMed Limited (ASX: IPD) today, on 24th April 2019 announced that it will release Quarterly Cash Flow Report for the period ending 31 March 2019, on Tuesday, 30th April 2019. Interested investors can join a conference call hosted by ImpediMed’s Managing Director and Chief Executive Officer, Richard Carreon on Tuesday, 30th April 2019, at 9:15 am Australian Eastern Standard Time (AEST).
To pre-register, investors can follow the link(https://services.choruscall.com.au/diamondpass/impedimed-328790-invite.html).
In the previous update, the company released a presentation for its investors. The group operates in the US (San Diego), Australia (Brisbane) and Europe (Greece). IPD’s market capitalisation stands at approximately A$83.55 million with 379.78 million shares on issue as of 24 April 2019. On 31st December 2018, IPD reported cash in hand at $22.6 million. As per the shareholding pattern, the institutional investors have 79% stakes in the company, whereas private investors and founder/management consists of 19% and 2% stake, respectively. Allan Gray, Kinetic Investment Partners and Paradice Investment Management have a substantial stake at 17%, 6.4%, and 6.1%. The company’s business model surrounds Software as a Service (SaaS), where SOZO devices are sold to hospitals and clinics. The monthly subscription for SaaS contract per device is up to three years, where the monthly subscription fee is based on the indications licensed and estimated case load.
The company views further considerable opportunities in the high scale business areas, such as cloud-based software and connected care. It aims to expand the institutional footprint of the devices, at-home monitoring opportunities and drive an incremental number of licenses per device. As per the report, there is more than a $2 billion annual addressable market opportunity for cancer cases. Around 1.8 million new cases per year are diagnosed for cancer, under which 55% are at a risk of limb lymphedema. The annual addressable market for heart failure cases is $1 billion plus. Around 6.5 million heart failure patients were identified with 35% each under Class I and Class II, 25% under Class III and 5% under Class IV.
Under its commercialisation and reimbursement strategy, the communication plans are underway, which comprises the principal investigator press interviews; podium presentation at the critical scientific sessions; social media campaign beginning; and national launch of “ImpediMed’s Lymphedema Prevention Program”. Its L-Dex Reimbursement Strategy highlights NCCN Guidelines®, which requests for the inclusion of formalised protocol and BIS technology - joint application. Under its customer strategy, the company intends to establish lymphedema prevention programs in the top 500 cancer centres and integrate L-Dex testing protocol into the care pathways, expand clinical evidence and drive broad uptake and convert legacy customers to SOZO.
On the stock information front, at the time of writing (on April 24, 2019, AEST 03:08 PM), the stock of ImpediMed Limited is trading at $0.227, up 3.182% with a market capitalisation of ~$83.55 million. Today, it touched day’s high at $0.23 and day’s low at $0.225, with a daily volume of more than 988,908. Its 52 weeks high stands at $0.677 and 52 weeks low at $0.18, with an average volume of 1,314,003. Its absolute return for one year, six months and three months are -66.15%, -47.62% and 12.82%, respectively.
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