Impedimed Limited · ASX:IPD
Impedimed — Shareholder Meeting (November 2023)
16 slides from Impedimed's shareholder meeting presentation, Nov 30, 2023
Slide 1: 2023 Annual General Meeting – Chair's Address and Presentation
30 November 2023 ASX ANNOUNCEMENT 2023 Annual General Meeting – Chair’s Address and Presentation ImpediMed Limited (ASX.IPD) (ImpediMed or Company) provides the attached Chair’s Address and Presentation to be delivered at today’s Annual General Meeting commencing at 11.00am AEDT at the offices of Cl
Slide 2: Forward-Looking Statements
Forward-Looking Statements This announcement contains or may contain forward-looking statements that are based on management’s beliefs, assumptions and expectations and on information currently available to management. All statements that address operating performance, events or developments that we
Slide 3: Chair's Address – Mr McGregor Grant
Impedimed Limited – 2023 Annual General Mee6ng Chair’s Address – Mr McGregor Grant As I am sure you are aware, there have been a lot of changes at Impedimed over the last 18 months including, most recently, the departure of the CEO and the CFO, announced last week. Accordingly, there will be no CEO
Slide 4: For personal use only
was a manager at the consulDng firm McKinsey & Company. The Board believes Parmjot’s breadth of experience across all of these areas will be invaluable in capitalising on the opportunity available for SOZO in the United States, following the recent inclusion of bioimpedance spectroscopy in the NCCN g
Slide 5: Period of changes
• As at 30 June the Company was holding cash and cash equivalents of $45.7 million, compared with $40.7 million a year earlier. I note in the recent Q1 FY24 Appendix 4C announcement the Company reported cash and cash equivalents of $42.4 million as at 30 September 2023. Period of changes As I menDon
Slide 6: For personal use only
• 27 Payors were providing silent coverage for CPT code 93702. Significantly, on 3 November 2023 the Company announced that UnitedHealthcare, the largest Private Payor in the US, had amended its policy to state that CPT code 93702 no longer required clinical review effecDve from 1 January 2024 - i.e.
Slide 7: Outlook for FY24 and beyond
• Extending the clinical trial contract with Astra Zeneca. I also note revenue under this contract ended in Q1 FY24; and • Raising a total of $30 million in capital via a $20 million insDtuDonal placement announced in May 2023, and $10 million via an oversubscribed Share Purchase Plan announced in J
Slide 8: Summary of FY23 financial results
Summary of FY23 financial results For personal use only SOZO® revenue of $10.6 million — up 7% from FY22 Total revenue of $11.3 million — up 7% from FY22 Gross margin of 86% — up from 84% in FY22 Net loss of $20.5 million — vs loss of $19.8 million in FY22 Free cash outflow of $24.1 million — vs Fre
Slide 9: Period of many changes at the leadership level
Period of many changes at the leadership level FY23 Jul 2022 CEO Rick Carreon steps down, David Anderson appointed interim CEO For personal use only Aug 2022 Jan West appointed as Non-Executive Director Oct 2022 Judith Downes resigns as Non-Executive Director Nov 2022 Reorganisation of roles in C-su
Slide 10: Covering all patients at risk of limb lymphoedema
Covering all patients at risk of limb lymphoedema March 2023 For personal use only NCCN released new Clinical Practice Guidelines in Oncology for Survivorship: • Specifically name bioimpedance spectroscopy (BIS) as an objective measurement tool to identify early signs of lymphoedema • NCCN Guideline
Slide 11: Major milestone with inclusion in NCCN Guidelines
Major milestone with inclusion in NCCN Guidelines For personal use only • Inclusion in Oncology Survivorship Guidelines significantly expands addressable market opportunity beyond breast cancer • There are 1.9 million new cancer diagnoses in the US each year 1 • The Breast Cancer Related Lymphoedema
Slide 12: Expansion of Private Payor coverage gaining momentum
Expansion of Private Payor coverage gaining momentum As at 20 October 2023, the status of Private Payor Coverage was as follows: For personal use only • 12 positive medical policies published since inclusion of SOZO® and BIS in the NCCN Guidelines® led by Top 5 National Payor Cigna Healthcare and se
Slide 13: Patient Testing Starting to Gain Momentum
Patient Testing Starting to Gain Momentum For personal use only • In November 2022, Impedimed reached milestone of 500,000 patient tests performed with SOZO • Since that time, over an additional 150,000 patient tests using SOZO have been conducted taking the total to >650,000 • We believe that with
Slide 14: Sale of SOZO systems
Sale of SOZO systems For personal use only • Total of 500+ SOZO systems sold in the US to date with 1,000+ units sold globally since launch • Total of 78 SOZO systems sold in the US during FY23 (including 34 systems sold in Q4 FY23). An additional 19 units sold in Q1 FY24 • The contracts that genera
Slide 15: Other achievements in FY23
Other achievements in FY23 • FDA clearance for SOZO Pro For personal use only • Designed to improve clinical workflow by allowing easier patient transition • Expected launch during CY24 • Extension of clinical trial contract with AstraZeneca • Two clinical trials using SOZO to measure fluid levels i
Slide 16: Outlook For FY24 and beyond
Outlook For FY24 and beyond • Key focus is to drive Impedimed towards profitable growth: For personal use only • Compelling opportunity with guidelines and expanding private payor coverage • Increase internal focus on execution that achieves robust sales and commercial outcomes • Achieve growth with