Imricor Medical (ASX:IMR) share price spikes 6% after expanding trial sites

The vascular catheter specialist share price having a great Friday.
The post Imricor Medical (ASX:IMR) share price spikes 6% after expanding trial sites appeared first on The Motley Fool Australia. –

Shares in vascular catheter specialist Imricor Medical Systems Inc (ASX: IMR) are lifting on Friday and now trade 6% higher at $1.05.

Investors are driving up the price of Imricor shares following a company announcement advising it has added another 2 institutions to the list of sites adopting its iCMR ablation solutions.

Imricor’s lead product, the Vision-MR Ablation Catheter, is specifically designed to work under real-time MRI guidance, with the intent of enabling higher success rates along with a faster and safer treatment compared to conventional procedures.

It touts itself to be a leading innovator in the space, and with that in mind, let’s take a look at what the company released today.

What did Imricor announce today?

The company announced that the German Heart Centre Berlin and the Charité Medical University Virchow-Klinikum campus, both in Berlin Germany, are the latest two institutions to adopt Imricor’s iCMR ablation solutions.

Imricor says these new customers bring the total of Imricor sites to 13. The company has since signed an Equipment Purchase Agreement (EPA) with the German Heart Centre Berlin to outfit an existing CMR facility for iCMR procedures. Both institutions will then utilise the iCMR lab at the Heart Centre.

Both new customers will separately purchase Imricor’s catheters and other consumables via a purchasing organisation called Sana Einkauf & Logistik Group Purchasing Organisation.

Imricor has already executed a Master Purchasing Agreement with Sana in April 2020, establishing pricing for the company’s consumable products and making them available in the Sana catalogue for hospitals who purchase devices via this route.

The terms of this particular agreement sets pricing for the one-time purchase of capital equipment needed to outfit an iCMR lab at the German Heart Centre Berlin.

Imricor says the collaboration is significant as it is a “key strategic goal of Imricor to grow the number of sites performing realtime iCMR cardiac ablation procedures in Europe”. Planning is underway for
procedures to commence in the first half of 2022, per the release.

Management commentary

Speaking on the announcement, Imricor’s Chair and CEO, Steve Wedan said:

The addition of these two world-renowned institutions is a major step forward for Imricor, and we are very excited to add them to our customer base. These sites have well-established facilities and programs like the MRI Core Lab and the CMR-Academy and we look forward to growing and deepening our relationships and collaborations with them in the coming months and years.

The Imricor share price has slipped almost 53% in the last 12 months after sliding another 53% this year to date.

In the past month, it has also plunged over 22%. Thus, any gains from today are a welcomed reprieve for shareholders.

The post Imricor Medical (ASX:IMR) share price spikes 6% after expanding trial sites appeared first on The Motley Fool Australia.

Should you invest $1,000 in Imricor Medical Systems right now?

Before you consider Imricor Medical Systems, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Imricor Medical Systems wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why is the Chalice Mining (ASX:CHN) share price surging today?

Neuroscientific Biopharmaceuticals (ASX:NSB) share price surges 11% on drug update

The ASX share market coverage that captivated readers in 2021

Merry Christmas

Why AMP, Hipages, Pilbara Minerals, and Webjet shares are storming higher

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!