ImpediMed Signed $1.3 Million in Total Contract Value for SOZO® During Q3 FY19

  • Apr 30, 2019 AEST
  • Team Kalkine
ImpediMed Signed $1.3 Million in Total Contract Value for SOZO® During Q3 FY19

ImpediMed Limited (ASX: IPD) works under the health care sector and is into the development and sale of the ImpediMed medical devices internationally. The company’s headquarter is situated in Brisbane. It has operations in the US and Europe as well. ImpediMed is a leading company in designing and manufacturing of the medical devices.

The company today, on 30th April 2019, released its quarterly cash flow report for the period ended 31 March 2019, along with the business updates. The financial highlights of the company included the contracted revenue pipeline increase of 10% to $7.7 million. The company signed $1.3 million in total contract Value for SOZO® during the quarter, with a total value of $9.8 million since the launch of SOZO. The annual recurring revenue for SOZO® contracts as of 31 March 2019 was up by 12% to $2.8 million. The company has currently 33 new contracted SOZO devices, with a total of 350 devices since launch. The net operating cash outflow for the quarter stood at $4.8 million with cash receipts from customers for the quarter of $1.0 million, and cash on hand as of 31 March 2019 of $17.1 million.

During the 2019 Annual Meeting of the American Society of Breast Surgeons in Dallas, the interim detailed results of the PREVENT trial will be delivered. The full PREVENT manuscript will be released after the presentation by the PREVENT trial principal investigator at the ASBrS Annual Meeting, and it has been accepted for publication by the Annals of Surgical Oncology.

Annals of Surgical Oncology is a leading journal in oncology and surgery, consisting of original articles on any latest developments in oncology for surgeons from all the oncology specialties. The full manuscript will provide a detailed analysis of the top line results of the PREVENT trial.

The company received a multi-year national purchasing agreement for its SOZO Digital Health Platform from Ascension Health Resources. This agreement allows the 151 Ascension hospitals to take advantage of pre-negotiated pricing and streamlined IT integration of the SOZO platform.

ImpediMed launched a third-generation SOZO software, after previously announcing impending launch by the end of April 2019. The new interface of the new generation software makes it simple to navigate, while providing the utmost level of privacy and security of patient data in a cloud-based solution.

It also offers additional security features for both hospital administrators and clinical users in compliance with the Health Insurance Portability and Accountability Act, allowing Health and Human Services to partner with institutions to collect pertinent patient information during each SOZO test.

On the price-performance front, at market close on 30 April 2019, the stock of ImpediMed Limited was trading at $0.260, with a market capitalisation of $102.54 million. The stock has generated a YTD return of 38.46%, with returns of -31.65%, 10.20% and 25.58% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at $0.580, and 52-week low price stands at $0.180, with an average trading volume of ~1.46 million.


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