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Vasomedical Inc. Message Board

  • gryzter gryzter Nov 28, 2012 3:55 PM Flag

    Todays Meeting

    Attended the year-end meeting today and I had a chance to chat briefly with the CEO Dr Jun Ma prior to the meeting. As usual I was extremely impressed with him.
    I’ll try to sum up some of the points made in his presentation to the stockholders. All of this is to the best of my recollection and notes.
    1. The cash position of the Company has never been better.
    2. Biox China and international sales are showing very good growth. However, they are not yet significant in the United States. Profit margins on Biox products are strong. The economics in China for EECP are not good. Presently the market is saturated and there is poor payment for the treatment. They hope to revitalize that market. Brazil, on the other hand, is a huge opportunity but since they are very protective, it is somewhat difficult clearing products there, but they are working on it.
    3. In regard to the LET acquisition, Jun Ma stated that research and development has now improved along with full control of production and this has increased gross margins from 33% to 59%.
    4. Dr Ma stated the recent 11b classification was based on a 2008 study and did not consider recent studies and data compiled in regard to EECP. They are looking into new indications for EECP and there are three or four clinical trials including the ones on diabetes that they hope to present. An attempt will be made to present all the new evidence to those that write the guidelines when they meet again in December. They hope to attain a focused update which could provide EECP with a 11A classification and an A classification for evidence. A 11A classification would be very helpful in their dealings with CMS. Mr. Lieberman stated: “he was optimistic in regard to the efforts with CMS”.
    5. Mr. Lieberman stated: “they have retained a market maker and a move to the bulletin board should take place in the near future. They hope to bring about greater awareness of the Company”.
    6. They have increased sales personnel for EECP and have upgraded their sales team for GE Healthcare. Following that upgrade the GE agreement was extended to 2015
    7. They are looking at new heart related medical devices to sell but have no plans for further dilution of stock. Any acquisitions of new products would most likely be for cash. Mr. Lieberman stated: “He is not in favor of a reverse split”.
    8. In response to a question about the impact of Obama care; Dr. Ma said it was still unclear. But since EECP has shown in studies to reduce hospital stays as well as rehospitalization, it is hoped that the Company will benefit from it.

    Sentiment: Hold

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