Impedimed Limited · ASX:IPD
Impedimed — Investor Presentation (May 2013)
22 slides from Impedimed's investor presentation, May 15, 2013
Slide 1: Investor Presentation
For personal use only Investor Presentation May, 2013 Richard Carreon CEO Morten Vigeland VP Global Finance 1
Slide 2: Disclaimer
Disclaimer For personal use only • This presentation has been produced by ImpediMed Limited (“ImpediMed”) only and may contain forward-looking statements that are based on management’s current expectations, beliefs and assumptions and are subject to a number of risks and uncertainties. The forward-l
Slide 3: Contents
Contents For personal use only • Year-to-Date Performance • Key 2013 Goals • Strategy to Win • Opportunities • Investment Case for ImpediMed • Company Background 3
Slide 4: Year-to-Date Results
Year-to-Date Results FY13 versus FY12 Q1-Q3 For personal use only Global Lymphoedema Revenue Up 29% Cash Burn Down 59%* 4 *Versus Q4 FY12 Cash burn minus R&D tax credit
Slide 5: Revenue Mix Year-to-Date
Revenue Mix Year-to-Date use only YTD Global Revenue YTD Revenue Mix FY12 FY12 • Focusing on the $2.1 FY13 core lymphoedema $1.8 business is 31% 69% paying off For personal $1.4 • Shifting to a Millions higher margin $1.1 FY13 consumable model $0.7 • Balanced $0.4 43% 57% approach to the non-core bu
Slide 6: Lymphedema Revenue
Lymphedema Revenue Global Lymphoedema Revenue Consumable vs Capital Mix • U.S. YTD growth For personal use only by Geography vs prior year $900 U.S. +44% FY13 UP 29% • Driven $675 FY12 95% 5% principally by expansion beyond single Thousands surgeon $450 International practices • International $225 Y
Slide 7: Cash Analysis
Cash Analysis Quarterly Expenses Months of Cash On Hand • Significantly For personal use only $4.0 19 improving financial 18 17 position 17 15 • Expected cash $3.0 13 burn norm will not 13 12 occur for two more 11 quarters (Q2 FY14) Months Millions $2.0 8 • Estimated cash burn in Q2 FY14 to 6 be $1.
Slide 8: Key 2013 Goals
Key 2013 Goals For personal use only • Focus building the core lymphoedema revenue • Grow U.S. revenue • Convert international business from capital to consumable • Reduce quarterly cash burn 30% to 40% by year-end • Instill strong financial discipline • Accomplish without negatively impacting core
Slide 9: Strategy to Win
Strategy to Win For personal use only • Convert Category III (emerging technology code) to a Category I (procedural code) • Convened Payer Advisory Panel in January to review data and previous Reimbursement submissions • Performed gap analysis of key issues (labeling, clinical data, outcomes data) •
Slide 10: Opportunities
Opportunities For personal use only • Monetise non-core assets • Develop or expand partnership opportunities • Expand use of our devices for drug/therapeutic clinical trials • U.S. Healthcare experienced board members 10
Slide 11: Investment Case for ImpediMed
Investment Case for ImpediMed For personal use only • Highly experienced executive team • Regulatory clearances/approvals (AU, US, EU) • Defined clinical pathway to ensure required outcomes are achieved • Clear reimbursement strategy to ensure payment and coverage • Strong financial position with 18
Slide 12: Breast Cancer Related Lymphoedema
Breast Cancer Related Lymphoedema For personal use only • Breast cancer is the most common malignancy among women • Early breast cancer detection and improved treatment have increased 5-year survival to almost 97% of women diagnosed with early stages; yet minimal progress on prevention of lymphoedem
Slide 13: Factors Impacting Development of Lymphoedema
Factors Impacting Development of Lymphoedema For personal use only Lymphoedema secondary to breast cancer treatment is caused by the disruption of the lymphatic system • Results in accumulation of protein-rich extracellular fluid in the interstitial tissue which presents clinically as swelling of th
Slide 14: Lymphoedema Staging & Diagnosis
Lymphoedema Staging & Diagnosis For personal use only Stage 0 (Subclinical or Latent): • Excess fluid accumulates and fibrosis occurs around the lymphatics, but no oedema is apparent clinically and fluid accumulation may still be reversible • Patient may notice mild tingling, tightness or local heav
Slide 15: Staging and Diagnosis
Staging and Diagnosis For personal use only Photos used with permission of Charles McGarvey and Guenter Klose. “BIS is a significant leap in technology. It is able to detect lymphoedema at the earliest possible stage of development (stage 0) where treatment is the most effective, and can potentially
Slide 16: Current Assessment Methods
Current Assessment Methods Subjective and Not Readily Used For personal use only Tape Water Displacement • Non-standardised volumetric measure • Non-standardised volumetric measure (muscle/fat/bone/fluid) (muscle/fat/bone/fluid) • Indirect measure with no agreed • Indirect measure with no agreed uni
Slide 17: Current Assessment Methods: Perometry
Current Assessment Methods Subjective and Not Readily Used For personal use only Perometry • Uses infrared light beams to measure the outline of the limb which can then be used to calculate limb volume • Standardises volumetric measure • Standardised cut off for early detection • Still an indirect m
Slide 18: Barriers to Physicians Clinically Assessing Patients
Barriers to Physicians Clinically Assessing Patients For personal use only Traditional methods are not practical, not easily reproducible and/or not sensitive to early disease • Diagnosis delayed until visible swelling is present (Stage 1 or later) • Lymphoedema is often irreversible by the time swe
Slide 19: BIS is Not Just "Bioimpedance"
BIS is Not Just “Bioimpedance” For personal use only Designed for Professional Medical Use • Not a consumer product – requires training and expertise to place electrodes • Requires physician interpretation, diagnosis and selection of treatment option • Built to ISO 13485 medical standard • FDA clear
Slide 20: Patient L-Dex Analysis Report
Patient L-Dex Analysis Report For personal use only Provides • Patient Demographics • Current L-Dex result Change Analysis Helps Physician Compare • Today’s result • Patient’s previous result • Patient’s baseline value • Ensures early detection & treatment Graphic History • Visualise build up of ECF
Slide 21: Factors Influencing Limb Volume
Factors Influencing Limb Volume For personal use only Tape and water displacement can’t discriminate between changes in ECF, muscle or fat. BIS detects only changes in ECF. L-‐Dex increases as ECF increases. Advancing Early Identification a21nd Treatment of Lymphedema
Slide 22: For personal use only
For personal use only