Posts Tagged ‘healthcare’

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Vasomedical, Inc. (VASO) – Penny Stock of the Day

Monday, May 24th, 2010

Shares of Vasomedical, Inc. (OTCBB: VASO) were up as much as 86 percent on Monday after the company announced that its subsidiary was appointed the exclusive representative for select GE Healthcare Diagnostic Imaging products to specific market segments in the 48 contiguous states of the United States and District of Columbia received signed a sales representative agreement. GE Healthcare is the healthcare business unit of GE (NYSE: GE – News). The Company has already received financial commitments for up to $5 million to fund this project.

[–quote–]

“This representation agreement is an example of Vasomedical’s strategy to expand its operations into new areas of potential growth in healthcare,” stated Abraham E. Cohen, Chairman of the Board of Vasomedical, Inc. in a statement.

The agreement is for an initial term of three years commencing July 1, 2010, subject to extension and also subject to earlier termination under certain circumstances.

Vasomedical, Inc. is primarily engaged in designing, manufacturing, marketing and supporting EECP(R) external counterpulsation systems based on the Company’s proprietary technology. Offered exclusively by Vasomedical, EECP therapy is a safe, non-invasive, outpatient treatment option for patients suffering from ischemic heart diseases such as angina and heart failure

In early April, the company announced that it received clearance from the U.S. Food and Drug Administration to market its Vasomedical-BIOX™ Model 2301 Combined ECG Holter and Ambulatory Blood Pressure Monitoring Recorder and Software Analysis System.

“These are the first in a line of Vasomedical-BIOX™ ECG Holter and Ambulatory Blood Pressure Monitoring Systems that Vasomedical intends to bring to the marketplace,” said Dr. Jun Ma, President and CEO of Vasomedical, Inc.

Shares of Vasomedical are up more than 300 percent over the past 12 months.

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Advocat, Inc. (AVCA) – Buzz Stock of the Day

Thursday, August 13th, 2009

Shares of healthcare facilities operator, Advocat, Inc.(NASDAQ: AVCA) surged nearly 17 percent in morning trading Thursday, after the company released second quarter earnings that beat analysts’ estimates.

The Tennessee-based company reported earnings of $937,000, or $0.15 per share, compared to $709,000, or $0.11 per-share for the same period a year ago. Revenue increased 7.3 percent to $76.1 million compared to a year ago.

Analysts had expected per share earnings of $0.14.

Highlights from the quarter included an increase of more than 75 percent in funds provided by operations, from $2.7 million in 2008 to $4.8 million in the second quarter of 2009. Facility also occupancy increased to 76.6 percent, from 74.7 percent in the same quarter last Advocat’s board also approved the payment of a $0.05 per share dividend commencing with the quarter ended June 30, 2009.

“We continue to record excellent comparable and sequential quarterly results in a difficult economy,” said Chief Executive Officer, William Council. “One of our most important measurements is funds provided from operations which were $4.8 million, a 75 percent increase over the 2008 comparable quarter.”

Seven of the company’s long-term nursing facilities recently received national recognition at the 2009 National Quality Awards by the American Healthcare Association (AHCA). AHCA looks at facilities that demonstrate at least a three-year track record of quality care, staff and residents’ satisfaction, and regulatory compliance.
With these awards, 37 of our 50 facilities have won National Quality Awards, with three winning Step II awards,” said Council. “We are very proud of the employees of these facilities for their commitment to quality performance.”

Advocat provides long term care services to patients in 50 skilled nursing centers, primarily in the Southeast and Southwest. It offers various non-institutional and institutional services, which include skilled nursing, ancillary health care services, and assisted living to the elderly, as well as rehabilitative, nutritional, respiratory, and other specialized ancillary services.

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Buzz Stock of the Day – Oculus Innovative Sciences (OCLS)

Wednesday, May 27th, 2009

Shares of Oculus Innovative Sciences, Inc. (Nasdaq: OCLS) were up more than 135 percent at mid-day on the Nasdaq.

The Petaluma-based company said U.S. health regulators approved its Microcyn skin and wound gel as both a prescription and over-the-counter formulation, sending shares up 70 percent before the bell.

The gel is intended to treat wounds such as leg ulcers, pressure ulcers, diabetic ulcers and mechanically or surgically debrided wounds.

“We understand the critical role that reimbursement plays in the successful commercialization of a medical product, and in that this is our first reimbursable product, we plan to aggressively market to the U.S. healthcare community,” said Oculus’ founder and CEO Hoji Alimi. “At the same time, we are taking all steps necessary to secure regulatory approvals outside North America so as to begin generating international sales through our existing distribution channels worldwide.”

Oculus, in partnership with its North American contract sales organization, Advocos, will market and sell the Microcyn® Skin and Wound Gel to the North American medical community as well as consumers beginning in June 2009.

Earlier this month, Oculus announced that its manufacturing facility in Mexico was working around the clock to meet the sudden product demand for Microdacyn™, a broad-spectrum antiseptic and sterilant approved by the Mexican Ministry of Health. Microdacyn has not been reviewed for similar indications by U.S. or European regulatory authorities nor has any regulatory body approved this technology for a specific swine flu indication. The Microcyn Technology is manufactured and marketed as Microdacyn™ in Mexico and is available through physicians and pharmacies as a non-toxic topical antimicrobial (antiseptic).

Regardless of the type of virus, it’s believed that Microdacyn’s mechanism of virus inactivation involves destruction of the proteins on the viral surface responsible for initial infection. Following destruction of these proteins, the viruses are no longer capable of causing any harm, according to a recent news release. Microdacyn has not been reviewed for similar indications by U.S. or European regulatory authorities nor has any regulatory body approved this technology for a specific swine flu indication.

Shares of Oculus were trading at $2.05 before the bell. They closed at $1.20 Tuesday on Nasdaq.

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Buzz Stock of the Day – Sharps Compliance (SMED)

Wednesday, April 29th, 2009

Our Buzz Stock of the Day — Sharps Compliance Corp. (OTCBB: SCOM) — provides medical waste disposal solutions for the healthcare industry and U.S. consumers. The Houston-based company’s flagship product, the Sharps Disposal by Mail System, is used to dispose of medical waste including hypodermic needles, lancets and other medical devices and objects used to puncture or lacerate the skin.

Sharps Compliance Corp. reported a sharp increase in Q3 profits, thanks in large part to a recently announced $40 million contract with an agency of the U.S. Government Customer billings. Revenue for the third quarter increased to $6 million, from $2.9 million a year earlier. Revenue for the nine-month period ended March 31, 2009 increased 35 percent to $13.6 million, compared to the same period last year.

“Our third quarter results reflect the success of our full-service medical waste management solutions and the business model that we have developed as we execute our first large scale government contract,” said the company’s chairman and CEO, Dr. Burton J. Kunik. “We have created a convenient, cost-effective and safe method to properly dispose of medical and pharmaceutical waste in locations outside of the hospital setting to include homes, alternative care facilities, retail clinics, industrial and commercial facilities and emergency management programs.”

Gross margin for the quarter was 59.2 percent, compared to 49 percent a year earlier. Operating income, or profit realized from the company’s operations, was $2 million or 33.2 percent of revenue for the quarter, compared with an operating loss of $100,000 for same period a year ago.

As of March 31st, Sharps Compliance Corp. had $3.6 million in working capital, up from $1.9 million at June 30, 2008. Total assets increased to $11.8 million, from $5.7 million at june30, 2008.

There is a growing interest for the company’s RXTakeAway(TM) line of products, according to a recent earnings release.

“We believe our new line of products address a very serious disposal issue in the country that is currently harming our environment and placing our children at risk,” said Kunik. “Our existing solutions and infrastructure are uniquely positioned to facilitate the proper and cost-effective disposal of unused medications in the consumer / community markets.”

The company has a very small float — only 5.6 million shares, and has outperformed the S&P 500 over the past 52-weeks. Sharps has quarterly earnings growth (yoy) of 317 percent, and earned about $1.6 million, on revenue of $13.3 million (ttm).

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Buzz Stock of the Day – Abraxis Bioscience, Inc. (ABII)

Tuesday, April 21st, 2009

Cancer treatment developer Abraxis Bioscience, Inc. (Nasdaq: ABII) announced a $100 million share repurchase program on Monday– a clear sign that management believes the company’s shares are undervalued at current levels. The repurchase of shares will be funded by internal cash resources and made through open market purchases.

“We believe our shares are undervalued and that our strong financial position makes the purchase of our own shares a sound investment at this time,” said Abraxis’ chairman and CEO, Dr. Patrick Shoon-Shiong.

The Los Angeles-based company reported revenue of $345 million in 2008, up from $334 million in the prior year. Gross profit for the year was $306 million, compared with $299 million in 2007.

But the real story at Abraxis, is ABRAXANE, the company’s tumor-targeting cancer treatment that use a protein called albumin to deliver chemotherapy, and does not contain chemical solvents. This eliminates the need for pre-medication with steroids or antihistamines, and significantly reduces the amount of time it takes to administer the treatment.

Last year was a busy year for Abraxis. When the company began “2008, we were commercializing ABRAXANE in the United States and Canada and approval to do so in India,” said Dr. Shoon-Shiong. “By the end of the year, we had commercialization approval in 36 countries.”

The company has also stepped up its marketing efforts in China, and is pushing ahead with the commercialization of ABRAXANE in Japan and Russia.

The company has to restructure its sales force after it ended its two-year, co-promotion agreement for ABRAXANE with Astra Zeneca. However, in an earnings call, Dr. Shoon-Shiong stated that the company could start seeing the benefits of its restructuring in the second half of the year.

Abraxis’ EU sales force in the European Union is provided by Innovex, a unit of QuintilesTransnational Corp. The company currently has five sales representatives in the UK, eight in Germany and expects to add eight in Italy this year and an additional sales force in Spain.

ABRAXANE was launched in the UK in December 2008, and the company plans to “continue this roll-out to additional nations in Europe on a country-by-country basis,” said Dr. Shoon-Shiong.

Abraxis is in good shape financially. As of December 31, 2008, the company had $607 million in cash and no long-term debt.

“I think the second half of 2009 would be a very exciting time for us,” said Dr. Shoon-Shiong.

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