Medisys PLC (MDY) Providing innovative solutions to the rapidly growing point-of-care diagnostic and healthcare worker safety markets. For more than 35 years, companies in the Medisys group have been advancing healthcare through development, manufacture and distribution of revolutionary medical products. The Group's mission is to become a leading worldwide provider of diagnostic systems and medical safety products enabling rapid, cost effective, on-site delivery of healthcare solutions.
For more than three decades, Medisys' primary operating unit, Hypoguard, has been devoted to advancing personal and professional healthcare management. The Company's core focus is diabetes glucose self-monitoring - a rapidly growing market of nearly $5 billion worldwide.
'Medisys-group.com'
'Hypoguard.com'

15/02/2006
Medisys reported a 'considerable improvement' in trading during the first four months of its financial year, and said the business has been cash-flow neutral for the year to date.
The medical products company said competition in its core long-term care blood glucose monitoring business has not intensified. A drop in sales amid intense competition in the market caused a fall in sales and profits last year.
Sales volumes have recovered to previous highs by cutting prices and offering various promotions, Medisys reported this morning.
Margin improvements have been achieved faster than originally anticipated, it added. The company has benefited from cost saving measures implemented in the second half of the last financial year and cost reductions for its proprietary biosensor products.
Meanwhile, it has completed the development and manufacturing scale up of the first of the new systems it has designed for Menarini, the fifth largest worldwide branded marketer of blood glucose monitoring systems.
While the launch date is not yet clear, (Around March 1) Medisys predicted that sales of the products will be one of its key revenue growth drivers in the current financial year.


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My apologies for any one that was on MDY it looks like we have been stitched up like a kipper the sale of Hypoguard blood glucose monitoring business at that price looks like an sp of 3p against the close of 6.4p what can I say no one could have seen this coming a total sell out and that is what I have done.

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Crazy Small Stock
These are high risk volatile stocks which could move sharply higher or move sharply lower in my view, but will almost certainly not stand still. Names on the radar include: Medisys, Aukett Fitzroy, Network Technology.

http://www.advfn.com/column6/equities-booming-rally.html

My apologies for any one that was on MDY it looks like we have been stitched up like a kipper the sale of Hypoguard blood glucose monitoring business at that price looks like an sp of 3p against the close of 6.4p what can I say no one could have seen this coming a total sell out and that is what I have done.

Driver - surely this has been overdone - I have just bought on a speculative buy at 3.23

Baza

baza
I dont think so baz the way it looks after paying back the term note loan facility of $9.75 million (approximately 5.5 million) and overdraft facility of $4.25m (approximately 2.4 million) with Bank of Scotland pl You are left with a shell company at about 3p a share what a sham good luck.

MMmmmmmm - I think you are right - your maths are better than mine.

B

OUCH--some you win some you lose!!

moneyplus: Ouch is appropriate. Judging by the timing of this, it looks clear that Medisys will become a "clean" shell with adequate funds to be invested wisely. I would not be surprised if after the shareholders give approval for the "sell off", a secondary offering will be planned. With a clean cash shell, it will not be long before predators circle. This could prove to be a longer term winner.

A good post from another board on todays sell out.

Once again the shareholders are being shafted as the Executive Chairman Dr.Wong appears to treat the company as though its his own.

So some points about todays announcement

1. Once again this Company has been devalued by an announcement from the management.
2. The management seek to transfer the shares to AIM, therefore shares held in ISAs will have to be sold, causing a further reduction in the price, possible enabling the management to buy up and take control of the company at a value far below even the current 3p.
3. By the looks of it, the deals and price of the sales have been agreed.
4. What ever happened to the Roche settlement.
5. This going to become an investment company, with one employee, who could be both judge and jury, that person beingDr.Wong?
6. Menarini whats happening ?
7. Announcement about a "considerable improvement" in trading during the first four months of its financial year , only 2 month ago. Was this designed to mislead?

So how do we get rid of the directors,

I want to see these guys off the board before any sale of the company, so the likes of Wong will only benefit from the remaining value of the 20m shares in his Trust.

S/HOLDERS SHAFTED again -for 42m dollars,long before egm on 4/05/06,whats left for us,surely not atop/up opportunity,why not whole co.,does this make any sence for s/holders,any views.

This article just about sums it up.The site is free to register.

http://www.proactiveinvestors.com/registered/articles/article.asp?MDY2

Unbelievable. That about sums up Medisys Plc (MDY) in my mind. Over the years MDY has lurched from one would be company making line of medical products after another.

Today, MDY finally threw in the towel and admitted it was finding life hard going in the ultra competitive markets of blood glucose monitoring (BGM) products. Along the way Medisys has burned through an impressive amount of shareholder money and bank debt on research & development, acquisitions, disposals and write-offs.

Mr Wong has had a few bad years it's true; but we learn that he's happier doing deals with small pharmas - the Q, is will NDY have any cash left after they have paid the Bank and fat bonuses to failing staff?
/
With the prospect about evens - (since many small pharmas are finding cash difficult to find), there is a slim chance Wong could be Right for Wunce.
Who knows?
Frankly with the sp looking this low it's hardly worth much to sell them.

this share pongs! .... if you have them, either hold though goodness knows what for, except perhaps to crystalise a loss at the end of the tax year ..... if you don't hold them, then AVOID

('Medisys' or 'the Company')

EGM Statement

Medisys PLC held an Extraordinary General Meeting today and the Board is
pleased to announce that the resolution to approve the disposal to Arkray Inc.
of the whole of its operating businesses comprising primarily its Blood Glucose
Monitoring business (the 'Disposal') for a consideration of $42.8 million
(approximately 24.2 million) in cash, was duly passed by shareholders. The
Disposal is due to be completed on 11 May 2006.

Dr. David Wong, Executive Chairman commented:

'The approval today for the disposal of our Blood Glucose Monitoring business
allows us to realise significant value for our shareholders and for Medisys to
progress debt free.

'The Company is now positioned as a focused investment company intending to
invest in companies with strong niche market positions in the areas of medical
devices, diagnostics, biopharmaceuticals and healthcare, where we believe
significant investment and co-investment opportunities exist. The Board will be
making a further announcement in due course.'

- Ends -

Why is mdy pleased to announce that it has become another shell when it had a perfectly good product in the first place?

puts it on a share price of 9p thou.. and at the mo its only 3p

you have to be happy with that surely

potatohead
I think you will find after dept repayment its 16m thats .029p a share, so at the moment the sp is above cash in the hope of finding a new wonder product that will properly never happen when all the board have to do is nothing and get paid a nice fat wage.

MDY has another value, IMHO - its listing on the Main Market, so any "medical" ( or techno) company may wish to use this (and MDY's cash) to reverse in.
There are many good products out there (where their companies have concentrated on getting the product right, deals sales etc, before listing)
[This is almost the opposite to MDY's progress, IMHO]
- - - these companies will be looking to their next stage as cheaply as possible - with MDY (cash and listing), it looks like a good deal to me - but it must be the (new) company calling the shots - MDY is but a skeleton- and MDY Directors have not served shareholders well.
Any "new" business will have an instand band-of-brothers ( = us Punters),all eager to learn about their products and intentions. This means that they can attract PR at almost no cost - another benefit IMHO.......
.....BUT we have to wait to see what happens - don't think MDY will let this process run smoothly - they could screw up this "next phase" - in the same way they have in the past.
If MDY directors will stand back, their shares may rise to levels even they can't dream of.....it all depends on what happens next........MDY needs to welcome all-commers before asking shareholders.
DYOR.
Personally I'd like to see several products being put into a "Son of MDY" - and don't let's forget MDY has some credibility in marketing to Wal-mart and elsewhere - it was the needle-product that did the financial harm as it stopped any other product development.

hangon

MDY is going on AIM, they pulled out of Wal-mart, they had a perfectly good product in the first place then sold the company for 3p when the sp was 6.4p you can not trust them move on there are far better companies to invest in.

lets see what tomorrow brings... lots ot trading today, especially buys

Driver, I agree we want to move on, ............without the top-dogs - but I think MDY has more value remaining on the full-list (at least until they can find a willing buyer), that way the cost of "listing" is in almost for free (to the next business) and shareholders will have an opportunity to benefit. Meanwhile whichever business "reverses" will have some business links and hopefully they will see added-value even if the contacts are luke-warm.
As I see it, to go to AIM and then look for a buyer is throwing away "listing" value...
It doesn't have to be a retail-product, nor does it have to be medical - but if it was, then so much the better. The cost of a main-market listing is considrable (well over 1/4million), so it should be kept, I say.
I see the sp has risen today, so perhaps management is considering staying on the main list, at lease for a while yet. Or, a [potential "reversee" is snapping up a holding to strengthen their case.
MDY Top management has served investors poorly and spent millions for practically no return...I just hope they enjoy their retirement, since they have ruined mine.
Regards.