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.

('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.

hangon
As I said before you cannot trust MDY any more get your self some GOO or GTL and get your retirement back, not forgetting SEO of coarse. They are all at rock bottom prices.

Thanks, but I'm just waiting to see if my investment trust is trashed.
With most in an ISA it won't pay to sell now, and there is the chance we shall see some investments that are worthwhile....at the current price the shares are almost cash-value so there is everything to hope-for.
I could move into the stocks you mention, but would I risk getting a 100% rise? SEO is an interesting one that appears to have a future in non-plastic packing, but suppliers to supermarkets are unlikely to make much money, I reason - and box-makers even less.
They sold the diabetic business for what they could - it was an expensive gadget and other makers had destroyed the market. If a niche product gets competitors (it's no-longer niche), so get out. MDY's problem IMHO was keeping up the pretense with the needle business when that was all but dead.
I have told the company that the listing cost will remain high on AIM and investors into PEP/ISA like myself will call a move to AIM a betrayal...therefore I'm unlikely to invest again. By staying on the Main Market it will give MDY a more serious image and there are plenty of investment co's on AIM if one wants a flutter.
I don't know if they still plan to move but they will need to raise money and losing my ISA holding will not encourage me to trust them again...so I'm waiting.

MDY rose today, on some buys.

hangon
Like you say with some stocks you can only hang on and hope as with my pcm good luck I will keep an eye on it any way.

The Company received notification on 3 January 2007 that on 3 January 2007 Charles Spicer, Chief Executive of the Company, purchased 1,000,000 ordinary shares of 1p each in the Company at a price of 2.35p per share. As a result of this transaction Mr Spicer has a beneficial interest in 8,166,666 ordinary shares in the Company representing 1.17 per cent of the issued share capital of that class.

The Company also received notification on 3 January 2007 that on 3 January 2007 David Wong, Executive Chairman of the Company, purchased 408,347 ordinary shares of 1p each in the Company at a price of 2.35p per share. As a result of this transaction Mr Wong has a beneficial interest in 37,075,013 ordinary shares in the Company representing 5.30 per cent of the issued share capital of that class.

The Company also received notification on 3 January 2007 that on 3 January 2007 Derek Ablett, Non-Executive Director of the Company, purchased 163,265 ordinary shares of 1p each in the Company at a price of 2.35p per share. As a result of this transaction Mr Ablett has a beneficial interest in 263,403 ordinary shares in the Company representing 0.04 per cent of the issued share capital of that class.


ENDS

Been a long time since Wong dipped his hand in his pocket and purchased stock.