coops
- 01 Apr 2006 11:27
Is the next 6 months going to see this company transform into a major player. I think so.
RNS Number:2840Z
International Medical Devices PLC
06 March 2006
. International Medical Devices gears up for NHS debut
International Medical Devices (IMD or "the Company") is delighted to announce
that initial production runs of its ClipOnTM "safe" needle device have begun for
delivery into the NHS and also South Africa.
Production is taking place at the Eastland Medical Systems plant in Portland,
Australia, following IMD's acquisition of the patents over a range of safe
devices from Eastland Technology Australia (ETA).
The NHS Purchasing and Supply Agency currently buys 136 million needles per
year, of which 50 per cent are 21 gauge needles. The total UK market is
estimated at approximately 200 million per year. IMD will initially target this
21 gauge market, i.e. 70 million needles. IMD, with its associate company EMS,
also intends to address the growing need for safe needles in sub-Saharan Africa
where HIV is causing such devastation. To this end it is working with the Nelson
Mandela Foundation. The World Health Organisation estimates that at least five
per cent of HIV has been contracted through the use of unsterile needles. IMD's
safe needles can be used once only and once retracted are fully secure.
Trials begin in five NHS Trust hospitals of IMD's ClipOnTM safe needle device
later this month and the needle buyer for the NHS Purchasing and Supply Agency
(PASA) has agreed to support the fast-track launch of the Company's products
into the Service for launch in April.
The Company's assessment of the UK, European, South African and Australian
markets indicates initial potential demand for the ClipOnTM safe retractable
needle is in the order of 300 million units annually. Volumes in excess of 100
million units are anticipated to substantially reduce production costs and open
up further markets.
Last month IMD reported that it has enjoyed an outstanding six months following
the acquisition of the medical distributor Meddis Ltd in September 2005, with
Meddis sales for last November up by 29 per cent over the same month in 2004 and
January sales up 46 per cent on 2005.
Chris Thomas, Chief Executive of IMD said: "We are now entering a period of
great activity and growth exactly in line with our stated strategy. We believe
we can make a very real and valuable contribution to the safety of healthcare
staff in the NHS with the introduction of our cost effective, safe needles. The
overall savings to the Service by eliminating days lost through needlestick
injuries - up to 100,000 each year - should be in the region of #10 million
annually".
moneyman
- 06 Jun 2008 14:38
- 31 of 31
Well bargain prices. Presently 1.08 to buy