Does Your Portfolio Have A Healthy Dose of HealthCare Stocks?
CORAL GABLES, FL / ACCESSWIRE / MAY 14, 2015/ According to SelectUSA the United States remains the largest medical device market in the world with a market size of around $110 billion, and it is expected to reach $133 billion by 2016. With a growing population of baby boomers continuing to increase by the day, healthcare has become a target for investment. Med devices encompass much of healthcare costs in the US right now and with no real end in site for the human population, there's most likely a good chance that the industry won't be going anywhere anytime soon. Organizations have found themselves benefiting from the uptick in excitement that the medical industry as a whole is seeing this year. Companies like Millennium Healthcare, Inc. (MHCC), Adcanced Medical Isotope Corp. (ADMD), and Cellceutix Corp (CTIX) are among those finding success within this space.
Millennium Healthcare, Inc. (MHCC) has found a niche for selling medical testing supplies for things like oral cancer, skin cancer, nervous system diagnostics, and even billing/customer service solutions. In a recent press release, company CEO Dominick Sartorio highlighted the significant growth that MHCC is experiencing. This included a year over year increase in sales by 319% taking the company's 2013 sales of $1.99 million and dwarfing them with 2014's $8.43 million! According to MHCC, that number did not take into account fourth quarter 2104 device POs/Sales totaling $9.65 Million. The Company was unable to recognize these sales in its overall annual 2014 revenues due to insufficient inventory as a result of undercapitalization. The Company anticipates being able to recognize and fulfill these orders during 2015.
Advanced Medical Isotope (ADMD) has been working since the beginning of May working to eliminate a significant portion of the warrants outstanding and potentially eliminate a substantial amount of the nearly $11 million of derivative liabilities currently reflected on the Company's balance sheet. ADMD stated that it anticipates these efforts to reflect in the Q2 financials. Since February, share prices for Advanced Medical Isotope have increased by as much as 1,200% following Wednesday highs of $0.0065. The Company is engaged primarily in the development of brachytherapy devices and medical isotopes for diagnostic and therapeutic applications. Brachytherapy uses radiation to destroy cancerous tumors by placing a radioactive isotope inside or next to the treatment area.
Cellceutix Corp (CTIX) is not necessarily a medical device company but it is involved in the clinical stages of developing innovative therapies with oncology, dermatology, and antimicrobial applications. In a recent company update, Leo Ehrlich, Chief Executive Officer at Cellceutix commented, "We made significant progress across our portfolio of compounds during the past quarter although not quite as much as I had hoped for. We are moving forward vigilantly and the stage is set for what we anticipate will be an eventful June quarter 2015 at Cellceutix… Fundamentally, we ended the quarter stronger than ever with $10.8 million in cash. On March 30, 2015 we solidified our balance sheet with a $30 million stock purchase agreement with institutional investor Aspire Capital to continue to diversify and expand our portfolio of trials for cancer, antibacterial and psoriatic indications."
In addition to the favorable quarterly results, the company also stated that with the stock purchase agreement entered into with Aspire Capital, Cellceutix is also applying to list its common stock on the NASDAQ Capital Market.
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SOURCE: Daily Stock Reporter
