@Strawman It would be great to have an interview with Dr Bains when she finally gets there.
@Macca571 At the moment I am willing to look past the board change and CEO issues with the fact this is a peer reviewed device that will improve early detection, prevention and treatment, with no competitors, written into national guidelines and ridiculous margins. But goodness me If i was alive in the 70’s it’s probably like being English and watching Georffrey Boycott score a century, you are pretty stoked he’s still batting but wonder if its just better to go to the bar for a couple of hours.
The old board and CEO seemed to be just making things hard. They had >80% coverage in Michigan and instead of recruiting sales members they languished there for over a quarter with no active sales person in the state. They have solid staff costs and can’t even get a sales person into the one state they had nearly complete insurance coverage of?? Also Rick’s (CEO) Linkedin did brag of being a specialist at mergers and acquisitions, so yes I’m glad they are gone. But will the next guys be better? Well Nanosonics McGregor Grant, now as CFO does have a history of helping organically building a company, so thats a positive. But looking forward to hearing what the talk is like at the AGM. All the direction looks to be more positive, but until we start to see the sales start rolling in the lip service means nothing.
Headwinds: 1. This debacle with obviously changing of guard and strategy and not truly knowing that strategy at the moment. Those who know McGregor Grant better than me may be able to shed light on his character, strengths and weaknesses. If Dr Bains can’t put a strategy in that works I may be out of this stock.
Tailwinds: Despite the obvious of actually having sales people in place now.
- In 2022 the US Congress also passed the Lymphodaema treatment act https://lymphedematreatmentact.org/ which comes into affect in 2024, its for treatment so Impedimed stands to gain by saying it can decrease the amount of spend in this area through prevention.
- With cancer costs https://www.fightcancer.org/sites/default/files/National%20Documents/Costs-of-Cancer-2020-10222020.pdf increasing to 240 Billion dollars in the US by 2030 2020 (200billion), although this was written in 2020 prior to inflation. I can see hospitals/insurance companies trying improve prevention measures.
- Although i would love to see it cured, breast cancer is the number one spend for cancers in US and has a very active fundraising base, prevention of complications will always be high on the list of any community group.
This has pushed things back a bit, but with how slow the old mob were actually moving on the huge announcement of NCCN guidelines in March this year I feel better now.
The Market Cap of 200-240 million at the moment is more realistic than the highs of 400million recently anyway. I still see the risk as out weighing the potential massive benefits.
