Medistim ASA
OSE:MEDI
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Medistim ASA
OSE:MEDI
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Medistim ASA
Medistim ASA engages in the development, manufacturing, and distribution of medical equipment and consumables. The company is headquartered in Oslo, Oslo. The company went IPO on 2004-05-28. The company develops, manufactures and distributes medical devices primarily for cardiac and vascular surgery. The firm provides intra-operative standard control applications designed to verify and document quality during surgery. Its product portfolio comprises systems, such as ultrasound imaging systems VeriQ C and MiraQ, as well as probes, which offer Transit Time Flow Measurement (TTFM). The Company’s activities are divided into four business areas: lease of equipment within cardiac surgery, capital and consumable sales within cardiac surgery, sales of electronic stethoscopes and distribution and sales of third party products. Furthermore, the Company is a parent of Medistim USA Inc, Medistim Deutschland GmbH, and Medistim Norge AS, among others.
Medistim ASA engages in the development, manufacturing, and distribution of medical equipment and consumables. The company is headquartered in Oslo, Oslo. The company went IPO on 2004-05-28. The company develops, manufactures and distributes medical devices primarily for cardiac and vascular surgery. The firm provides intra-operative standard control applications designed to verify and document quality during surgery. Its product portfolio comprises systems, such as ultrasound imaging systems VeriQ C and MiraQ, as well as probes, which offer Transit Time Flow Measurement (TTFM). The Company’s activities are divided into four business areas: lease of equipment within cardiac surgery, capital and consumable sales within cardiac surgery, sales of electronic stethoscopes and distribution and sales of third party products. Furthermore, the Company is a parent of Medistim USA Inc, Medistim Deutschland GmbH, and Medistim Norge AS, among others.
Record Quarter: Medistim delivered its best ever third quarter, with sales of NOK 166.8 million, up 25.7%, and operating profit (EBIT) up 27.1%.
Growth Drivers: The Americas region led the growth, contributing 63% of the Q3 increase, with sales up 35.7%. Asia Pacific also saw exceptional growth at 194%.
Margin Improvement: Gross margin improved by 1.2 percentage points to 81.5%, despite higher sales of lower-margin imaging products.
Price Increase Withstood: Recent price increases in the U.S. did not deter sales volumes, with strong probe sales achieved at higher prices.
Vascular Segment Slower: Vascular product growth slowed to 3.7% for the quarter after strong first half performance, but management expressed confidence in future growth.
Rising Costs: Operating expenses rose, mainly due to increased commissions and incentives linked to strong sales, but profit growth outpaced cost growth.
Strong Cash Flow: The company ended the quarter with strong operational cash flow and a cash position of NOK 157.7 million.
