Imricor Medical Systems, Inc. · ASX:IMR
Imricor Medical Systems — FY2021 Earnings Presentation
21 slides from Imricor Medical Systems's earnings presentation, Feb 24, 2022
Slide 1: FY21 Investor Presentation
For personal use only FY21 Investor Presentation February 2022
Slide 2: Disclaimer
Disclaimer The material contained in this presentation is intended to be general background information on Imricor Medical Systems Inc (“Imricor”) and its activities. For personal use only The information is supplied in summary form and is therefore not necessarily complete. It is not intended that
Slide 3: Presenters
Presenters For personal use only Steve Wedan Lori Milbrandt Chair & CEO Chief Financial Officer • Mr Wedan is the Chief Executive Officer and Co-Founder of • Ms Milbrandt has served as the Company’s Chief Financial Imricor Officer since 2007, initially on a contract basis and since May • Mr Wedan ha
Slide 4: Agenda
Agenda For personal use only Key Achievements 5 Delivering on our Strategic Plan 6 Business Update 7 Financial Performance 13 Summary 17 4 Imricor FY21 Investor Presentation, February 2022
Slide 5: Key achievements in 2021
Key achievements in 2021 For personal use only Five new sites signed Procedures re-commenced Two of these sites were in new countries for Across four of our sites: Dresden Heart Centre, Leipzig Imricor, bringing the total number of sites to Heart Centre, Maastricht University Medical Centre, fourtee
Slide 6: Delivering on our Strategic Plan
Delivering on our Strategic Plan For personal use only Grow Installed Base More sites 1 to do procedures Expand geographies More procedures 2 per site Expand indications Higher ASP and 3 margin improvement New product development 6 Imricor FY21 Investor Presentation, February 2022
Slide 7: Business Update
Business Update For personal use only 7 Imricor FY21 Investor Presentation, February 2022
Slide 8: FY21 Highlights
FY21 Highlights • Contracted five new sites across Europe, bringing the total number of sites to fourteen For personal use only • Performed procedures as restrictions allowed through COVID waves • Current site status: Current Site Status Number of Sites Operational (performing procedures) 5 Installa
Slide 9: FY21 Highlights continued
FY21 Highlights continued • Appointed Regional Health Care Group (RHCG) in Australia to help facilitate TGA and Medsafe approvals For personal use only • Medsafe approval received for all Imricor products in New Zealand • Received TGA approval on Imricor’s Advantage-MR System, Vision-MR catheter und
Slide 10: Site expansion plans underpinned by strong pipeline
Site expansion plans underpinned by strong pipeline For personal use only Helios Hospital Berlin-Buch, Germany Dresden Heart Centre, Germany Maastricht University Medical Centre, The Netherlands Semmelweis University Heart and Vascular Centre, Hungary Helios Leipzig Heart Centre, Germany Amsterdam U
Slide 11: Operational Status of sites
Operational Status of sites Hospital Status Comments For personal use only Operational Installed Preparing Under Restarting Installation Construction Procedures Dresden Heart Centre iCMR lab constructed for interventions, Cases commenced Haga Hospital iCMR lab constructed for interventions, Cases to
Slide 12: Developing product lines to support expanded indications & margin improvement
Developing product lines to support expanded indications & margin improvement Steerable Sheath and For personal use only Transseptal Needle • Ready for pre-clinical trials in March 2022 • Undergoing final device testing • Preparing for approval submission as part of VT trial in 2022 • Preparing for
Slide 13: Financial Performance
Financial Performance For personal use only 13 Imricor FY21 Investor Presentation, February 2022
Slide 14: Profit and loss
Profit and loss For personal use only US$’000( FY21 FY20 Commentary Revenue 696 702 • Costs and non-R&D expenses increased in 2021 primarily due to additional staffing Costs and non-R&D expenses (10,873) (6,833) ($1,733k), inventory reserves ($975k), excess manufacturing capacity charged directly to
Slide 15: Balance sheet
Balance sheet US$’000 (31 December) Dec-21 Dec-20 Commentary For personal use only Cash and cash equivalents 18,516 25,140 Accounts receivable 95 223 • Current assets: Inventory 2,583 3,070 Other current assets 1,505 492 • Cash decreased due to an increase in costs and R&D spend, Total current asset
Slide 16: Cashflow
Cashflow For personal use only US$’000 FY21 FY20 Commentary Net loss (19,733) (12,446) • Other non-cash adjustments are primarily related to inventory Other non-cash adjustments 2,846 1,758 reserves, depreciation and stock-related compensation expense, all of which were greater during 2021 than in 2
Slide 17: Summary
Summary For personal use only 17 Imricor FY21 Investor Presentation, February 2022
Slide 18: A strong and growing market in cardiac ablation
A strong and growing market in cardiac ablation A large global addressable market with high growth potential supported by favourable growth drivers For personal use only Drivers of Global Catheter Ablation Market Breakdown of Ablation Procedures Ablation Procedure Types EU 2019 Ventricular Tachycard
Slide 19: Focus Initiatives for 2022
Focus Initiatives for 2022 Site Growth • For personal use only Increased engagement with Electrophysiologists to drive demand for iCMR labs • Increased engagement with Philips and Siemens sales forces to help deliver the pipeline of iCMR labs Utilisation • Initiate procedures at each contracted site
Slide 20: Thank you
For personal use only Thank you
Slide 21: Contact information
Contact information For personal use only Investors: Investors & Australian Media: Steve Wedan Brett Ward Executive Chair, President & CEO Senior Advisor, Cato & Clive Email: steve.wedan@imricor.com Email: brett@catoandclive.com Rest of World Media: Investors (Australia): Nick Twohy Aisha Jabeen Vic
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