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The Share Price of RVA Zoomed Up By 21.212% After Its Geographical Expansion Update.

  • January 07, 2019 11:55 PM AEDT
  • Team Kalkine
The Share Price of RVA Zoomed Up By 21.212% After Its Geographical Expansion Update.

REVA Medical, Inc. (ASX: RVA), a medical device company who is also the leader of bioresorbable polymer technologies announced its geographical expansion in seven European countries along with four new distribution partners. Through this partnership, REVA will be expanding its access to Fantom Encore drug-eluting bioresorbable scaffold. The company will also be building the existing distribution partnership and is also putting efforts towards direct-selling.Â

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The company has plans to work for its expanded commercial distribution with A care a.s. in the region of Czech Republic and Slovakia. In Poland, the company will be working with Polimed for its expanded commercial distribution. In Russia, the company will be working with Technoproject, Ltd, and Danmeda which is in Lithuania, Estonia, and Latvia. REVA along with these four companies will be targeting $290 million medical device market. The purpose of targeting these regions is because the statistical data of these regions highlighted that there are around 350,000 percutaneous coronary intervention procedures which happen annually.

Based on the statistics, one can assume that there is a scope of growth in the region. With the increase in the sales with the existing distribution partnership, it will be a win-win situation for all the parties involved and in turn, will also help in creating the shareholder’s value.

The selection of the distribution partners depends on their previous track record. Also, these partners belonging to the same regions are also aware of the coronary and peripheral interventions markets in that particular region with a hope of increasing commercial momentum through its Fantom Encore equipment as an alternative for a metallic stent.

Each distributor in a particular region will be responsible for the sales, marketing, customer training and will also be training the customers and even supporting them. Selecting distributors will facilitate in approaching the customers as the distributors might educate them in their local language.

At present, REVA is currently working with the local distributors for the local regulatory registrations. Once the registration process completes, the company expects to commercialize Fantom Encore, within three months to 12 months.

The official listing of RVA on ASX is 23 December 2010 where the company has given a consistent negative performance. In 5 years, the performance of the company was -64.89%. The previous year performance of the company is -72.50%.

For the half-year period which ended on 30 June 2018, the company made a net profit of $25,270. The balance sheet of REVA shows that the company is under a massive debt as its total liabilities is much ahead of its total assets. There is a total shareholder’s deficit of $65,122. The cash and the cash equivalent by the end of the period were $10,139 million.

Even though the balance sheet of the company is very poor, with the company’s vision of its expansion into the European market has created hope amongst the shareholders. Its effect can be seen on the share price, which increased by 21.212%. By the end of the trading on 7 January 2019, the closing price of the share was A$0.200 which is 0.035 points above its previous trading day’s closing price with the market capitalization of A$68.49 million.


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