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men like donald pettigrew do not come onboard unless they like the opportunity, feel they can make a difference and will make a lot of money.
Mr. Pettigrew knows the industry, can open doors and has the connections. Impressive addition to the rms management!!
this is a huge vote of confidence for rms.
press release
https://www.prnewswire.com/news-releases/rms-medical-products-announces-appointment-of-president-and-chief-commercial-officer-donald-pettigrew-300706441.html
rms is bringing heavy weights on board. they are paying top dollar but seems like a very good feet. expect accelerated growth down the line.
i continue to buy at these levels
the last presentation at ld micro did not produce any market reaction. Especially in terms of more volume and liquidity. So I do not expect much market reaction from this presentation. But things take time and Goldberger is putting the RMS on peoples radar. So that is a plus.
The presentation at ld micro and the stockholders meeting were virtually the same. So I would expect this presentation to be more of the same. Perhaps some tweaks? Small company with no debt, having a cost effective solution leading the charge into large and expanding markets. I have heard all this before.
So what is unique about about rms verse other infusion companies? what excites me more about the company's potential is the super26 and dynamic flow. The sales to pharma during drug evaluation studies is like going to the front of the line.
thanks,
any reaction to my speculation about them taking the company private/
CHESTER, N.Y., Aug. 27, 2018 /PRNewswire/ -- Repro Med Systems, Inc. dba RMS Medical Products (OTCQX: REPR) today announced that Chairman and Interim President and Chief Executive Officer Dan Goldberger will be presenting at the 7th annual Liolis Gateway Conference taking place September 5-6, 2018 at the Four Seasons Hotel in San Francisco, California.
The Company's presentation will take place on Wednesday, September 5th at 2:00PM Pacific Time, a replay will be available online at www.rmsmedpro.com.
more speculations- This could almost be a movie. Brilliant engineer (Andy Sealfon) after a lifetime of challenges finally develops a product (suer26needle set) that does things that people thought was technically impossible. In the midst of his greatest triumph he is forced to give up control of the company. The company because of market dynamics and his creativity is poised for explosive growth.
So the brilliant and hard working engineer is bitter and still is the largest shareholder. The stock price could triple over three years as the company is gown and groomed for take over.
What happens in the next chapter. After much bantering and posturing the lawyers come to the following agreement. The company will go private. They agree to buy enough of andy's shares so he can live very comfortable and leave andy enough shares so he can participate in the private company future growth and probable buyout. Andy is given a lifetime job with the company in new product development when he can fiddle and play but is not in management. A difficult pill to swallow but might find much happiness doing what he does best?
A happy ending for everyone.
This is speculation and assumes that reason over rides emotions.
I want to add to my speculations about taking the company private. Horton Capital, where Manko works, probably has the connections to get the money needed to take the company private. Remember Horton only need 51% of the shares and Hortan already has 20%. RMS is a small company with a small float. Keep in mind the board is friendly to Manko and might be swayed relatively easily.
Andy's large number of shares present a problem. A secondary offering be in the cards?? Could Manko and the new CEO buy out Andy? My guess is those two, if they can arrange the financing, might want to take the company private. There are advantages to being private. This does not preclude the company being resold at a later date. just speculation on my part so take this with a grain of salt.
RMS has the new super26 needle set which andy was gushing about on the mike king show. This should be almost ready for the big christening. This is huge!!!!!!The super 26 needle set does things people did not think was possible. In metal sizing bigger numbers mean smaller size. so a 26 needle is smaller then a 24 needle. This is very important for patient comfort!!! Additionally the 26 needle set has a higher flow rate then anything on the market. This opens markets to RMS and only RMS because the competition has nothing that will match it.
my opinions and i am buying now - you all do what you thinks best for you.
i noticed that earlier. i am not sure if he has any role with the company beyond being on the board. Andy is not a young man. he might be amendable to the company being sold - if the price was right. I suspect andy and the company have or will have talks about his stock holdings.
Interesting 8k out:
This Schedule 13D is being filed; 1) to report shares beneficially owned by Mr. Sealfon; 2) to report that Mr. Sealfon has been terminated in his role as President, Chairman of the Board, and Chief Executive Officer of the Issuer, effective July 25, 2018; and 3) to provide an overview of Mr. Sealfon’s current position with regard to the Issuer in light of his termination, including with respect to his prospective intentions to dispose of his current shareholdings or to expand them, depending on various facts and circumstances and in light of Mr. Sealfon’s desire to maintain the broadest set of options available to him at this time.
Mr. Sealfon continues to serve as a Director of the Issuer, after being terminated as its President, Chairman of the Board, and Chief Executive Officer, pursuant to a meeting of the board of directors, which voted 4 to 2 for Mr. Sealfon’s termination (the 4 to 2 vote excluding Mr. Sealfon’s vote against his termination). Prior to his termination, Mr. Sealfon received two versions of a prospective Summary of Terms from the board of directors (on July 3 and July 14), which outlined terms proposed by certain members of the board of directors of the Issuer under which Mr. Sealfon would step down from his roles as President and Chief Executive of the Issuer.
I would have expected a bump in volume after the releasing of quarterly results but there was none. Any thoughts?
budge - your exactly right and said it far better then I. The conference call talked about this. Home infusion is easier, cheaper and provides a more even drug level in the patient. So what RMS is saying to the drug companies lets do the test or trial using the RMS home infusion system. "Lets demonstrate the drug using the RMS infusion system". Its a brilliant strategy.
listen to the CC and tell me what your take away is.
"sales to pharmaceutical companies. (.3m?) I think this might be important. "
indeed it is. there are a number of studies that have been started to try and convert drugs that required intra venous administration into forms that can be infused. REPR may be on the cusp of a large increase in their total addressable market.
listened to conference call.
Some talk of 300k sales to pharma which gets their foot in the door. This is important because it blesses RMS from the gt go.
Talked about potential uplisting of stock. time will tell but it is on the to do list.
No mentioned of res Q vac - the forgotten step child? This product is in some ways a distraction from the primary focus of home infusion. Look for it to be addressed.
Goldberg showed class by thanking and praising Andy!!!
The Company will host a conference call to discuss the second quarter 2018 financial results and business developments on Tuesday, August 7, 2018, at 9:00 AM ET. Please refer to the information below for conference call dial-in information and webcast registration:
Conference date: August 7, 2018, 9:00 AM ET
Conference dial-in: 877-269-7756
International dial-in: 201-689-7817
Conference Call Name: RMS Medical Products (REPR) Second Quarter 2018 Results Call
Webcast Registration: Click Here
Following the live call, a replay will be available on the Company's website, www.rmsmedicalproducts.com, under "Investor Relations" for a period of one year.
i agree a pleasant surprise - not a oh wow moment but a nice surprise.
interesting also was a note about one time sales to pharmaceutical companies. (.3m?) I think this might be important. This indicates RMS is moving into new markets. Also RMS wants to have the big boys using RMS product during new drug trials. It will make follow up sales easier.
Also interesting was i did not see any mention of andy continuing to work for the company? Did you? Originally the plan was for andy to step aside from ceo and president responsibilities and do more r&D - lab work. I think it was a bitter divorce. So what will happen with andy's stock? I think it will be in everyone's interest to find a buyer for the company.
better than what I was initially expecting. Margins are good. Operating expenses seem reasonable so more sales means mores is falling to the bottom line.
All of this is good. They state in the comments that the sales increase is due to more needle (razorblade) sales.
R&D is flat vs Q2 last year but it dropped to almost nothing in Q3, Q4 and Q1. In the comments it states that they hired an engineer. So it appears that their R&D expense is just how they allocate an engineer.
Not much for me to be critical of.
reaction to earnings?
Net income almost 500k - how can yo complain about that?
why only 25 of r&d?
Andy is out as ceo but still on the board. he owns 21% of the shares. I think he might be very amendable to a take over?
I've emailed the compnay with a few similar questions that I thought would be good for a commonly asked questions section or instead of doing an analyst call I've often thought that they would get better questions by simply releasing a statement and a written Q&A based on questions they have collected from analysts and private investors.
Constelllation Software up in canada did this recently and I was suprised t how much more info I've learned about them from this model vs the standard call and 2-3 questions by a few analysts. For a company like REPR they may not want to hold a call and have no analysts show up as it looks bad or you get a crazy investor that you can't get off the line.
that is a good question at the company conference call.
I agree with you on the business model. I think that is what they are doing today. The problem is that they don't break out the revenue (and ideally COGS) between the pumps and the needle sets.
holty - sell the razor blades give them the razors. In this case i would say sell the needle sets and ...... People that need the infusions are long term users. the selling of needle sets has the potential to contribute a very healthy long term cash flow. Again this increases the company's take over value.
i am hoping for a surprise announcement at the conference call. The new needle set which Andy reference in mike king podcast should be close to getting final fda blessing?
in a lot of ways this is a new company. It has a new board of directors, a new ceo. I think the new rms will be more investor friendly. The fda issues are behind the company. I feel this was a painful blessing in disguise. Non destructive testing is being implemented.
earnings will be announced on 8/6 with a conference call the following day. at that time we will get to see the figures and get a feel for the new ceo.
My math is similar to yours but since they didn't say anything about a profit I am hesitant.
Frankly, I'm most interested to see the margins and the SG&A lines. If they really think they have something than I wan to see it really show up in a big way in SG&A expenses.
mr. i was slightly disappointed to see revenue did not make 20%. If i had to guess, I think rms will earn slightly more then a penny a share?
buyout will come. to get full value company will have to demonstrate rms infusion products work in new market first. this is happening now and will continue. when i read the new ceo resume it is much more investor friendly and consequently rms will get the visibility it deserves. rms has been flying under the radar for a long time and this is about to change
One thing not talked about much is that the rms infusion devices have a superior flow profile. its more even flow rate throughout the infusion. its done at a lower pressure. And generally administered via smaller needle sizes which is important for patient comfort.
nice pop tuesday at end of day. could not find any news
I don't think Andy went willingly. I also think it probably needs to happen. I want to see the Quarterly filing and like others I expect it to show no profit even though revenue growth was ok. (Am I crazy for thinking that Revenue growth should be atleast in the 20s after last year. You are looking at 11% and 14% for the last 2Qs
For them to not include any gross profit #s is very disappointing.
Based on historical filings it should come out a week later though there is no confirmation on their website.
I expect that this company will be sold in the next 9-12 months although I don't know at what multiple because even the current multiples seem high.
i reread the recently filed 8k. I wonder if there was a coup in the palace so to speak? Did Andy go peacefully or not? It does not matter. Joe Manko has put his stamp on the board. I think Joe was looking for expertise to grow the company. The acting president , Goldberg, impressive resume will grow the company. My sense is the train is leaving the station. It starts slowly but will gain speed. Eventually the company will be sold.
Look forward to earnings next week and the conference call.
my take of the press release.
company unable to find a permanent replacement for and sealfon -goldberg is asked to fill in temporarily. a slight disappointment.
18% earning growth - i was hoping for over 20%. But the growth driver by needle sets which i assume is a higher margin unit then then pumps?? sell the razors and make money on the blades.
no mention of the bottom line - not guidance. are you telling me they have no idea of bottom line growth. I doubt it. makes me uncomfortable! in the past repr has sent out press releases hyping top line growth and later income statements show bottom line eaten up by something. history tends to repeat itself...
company is doing a webcast and conference call - very positive - playing the game like the big boys. expect better investor communications going forward. hoping for a surprise news about new needle set? time will tell
vulcan - What Andy said in the Mike King interview was, and I am paraphrasing, the new administration set is allowing RMS to do things that people in the home infusion industry had long thought impossible. Take away. THE NEW HOME INFUSION SET WITH PATENT PENDING NEEDLE SET IS A GAME CHANGER.
RMS does not due a good job of marketing itself to the investment community. This is starting to change with Goldberger's presentation last month. And should change more with a new CFO coming on board shortly.
I am buying at these levels.
@blue skies. I agree with what I feel is a Conservative from you . That this company has not yet sold is honestly surprising.
I appreciate your opinion here.
Spock......can't find my keys to the shuttle.
Vulcan - I went back and reviewed the presentation by Goldberger. see slide 14 for potential new markets.
http://www.rmsmedicalproducts.com/wp-content/uploads/2018/06/repr-1q18-presentation.pdf
Additionally some drugs that were traditionally delivered by IV, can now be self administer at home via the RMS home infusion system. This is possible because of the new administration set with the patent pending needles.
There are many sexier technologies but REPR is a small company and has no long term debt. The company can finance its growth without issuing more shares. I expect the company will eventually be bought out at two or more times the current share price.
happy - your quite correct that no one likes needles. But if you have to use needles then smaller is better(size matters!). And REPR, with its new administration set (which includes the needles), is demonstrating that home infusion can deliver a wider range of drugs then previously thought possible!!
http://www.rmsmedicalproducts.com/news/ceo-andy-sealfon-discusses-rms-company-updates-exciting-news/
Listen starting at minute 32:30 for ten minutes and see what you think
From having worked in an emergency room for a decade I can tell you such a technology would indeed be a game changer.
THIS is a tech well worth investing in.
Spock...hate needles, though. Patches are a lot softer. No sharp edges.
Andy Sealfon was on Mike King's radio show at the end of last week.Below is the link to the "podcast". REPR often uses Mike King's Princeton Research for PR.
http://www.rmsmedicalproducts.com/news/ceo-andy-sealfon-discusses-rms-company-updates-exciting-news/
A couple of things stuck out. Andy talked about REPR entering the neuromodulation market, which deals with how the body handles rejection. He described it as a huge market, a game changer similar to penicillin(paraphrasing Andy's words). Traditionally the neuromodulation drugs were administered via IV because of flow requirements. Previously, in home infusion devices, the needle size and flow restriction precluded their use in high flow applications. Simply put, you need the flow but do not want a large needle. No longer the case due to a new REPR patent pending needle design
During the podcast Andy referred to a new administration set, with a patent pending needle design that allowed a higher flow rate. This is huge!! This is a game changer because it will give REPR a unique competitive advantage for high flow applications. Additionally, the new needle design, enhances REPR value as a takeover candidate. It is better to own a technology and prevent the competition from having it.
mrholty - My guess is Manko is buying the stock with an eye to seeing the company sold.
At $1.20 area I am buying
My thoughts exactly.
Another company can look at REPR and view the very good margins and see a way to take out half(?) of the SG&A spend. I'd argue that some will model up to 70% but I've never seen one actually be able to meet 50%.
Add in the fact that the product is useful to both a medical device company and to the drug mfgr's themselves potentially.
big - thanks
It never hurts to get mentioned.
My reaction to the article is REPR is more valuable to a big player then as a stand alone company. This is not recognized by the market when it prices REPR stock at a buck twenty!!!
mrholty - this quarter is free of legal expenses and consultant expenses. Also the corporate tax rate has dropped. This is why I see a .02/share as doable. Time will tell.
As to some of your other comments/concerns. The company is looking for a replace for Mr. Sealfon and I think the company was looking to complete this process and hire someone in the first 6 months of 2018.
I agree with your comments on the lack of R&D. But I think the pump is easily adoptable to new markets and the expansion into new markets is a sales and education thing. My understanding is the freedom pump is being tested by pharma as part of their new product development and launch.
It is disappointing to go to a PR firm cited at the end of a presentation and find that they lack in knowledge.
to hit $0.02/share you need almost $1.0 in profit before taxes at they have a tax rate at 20% per their last Q.
Assuming their OpEx are flat and margins stay around that 60% margin they would have to be almost at $5M in sales for the quarter. That is a 25% move vs the current quarter and 30% vs the same quarter a year ago.
Those are big hits.
The more I spend looking at it this company simply should be sold as the pump has great margins and could fit in nicely for someone. I agree with you that I would expect that to happen.
I actually got excited when I didn't see any buys from Mr. Manko from Mid-March thru the end of May. I thought maybe he was in a blackout and prohibited from buying. Does anybody know the rules for a director and 10% owner?
Mr Manko has put his reputation on the line in this stock. He believes that the company has alot of potential. That is what the slides 4-6 are referring to. If things do not go as Mr. Manko plans then he will seek a buyer for the company.
Wait to see the earnings for this quarter. If the earnings/share do not make .02/share then I would and will sell.
My last comment is that Joseph Manko our recent director who fund owns about 20% of the shares has been buying again in the last month.
He bought 80k shares in the past 30 days and his transactions were about 18% of the trading volume. The good news is that unlike in the fall his trading volume didn't push the shares up meaning there is more liquidity.
I have. No decent response to questions that show any thought or ability to explain the competitive landscape. What you see in the powerpoint is similar to what I've gotten in the past.
For me the company is univestable until there is a CEO named. I'm not enamored with Andrew Sealfon in the few interviews I've heard.
If the company has an awesome runway then why had R&D shriveled to nothing. I'd argue that the R&D line appears to be the line for legal expenses with regards to the FDA.
Good news:
Margins up or steady
Cost containment is pretty good so increasing sales primarily falls to the bottom.
Share issuance is fairly low.
Bad news:
Stock is expensive at TTM of $.03 (30x earnings).
Revenue growth over most recent quarter is slowing. 29%, 1%, 7%, -2%.
mrholty below is the contact info given at the end of the presentation. Feel free to contact them and see if they can answer your question?
Investor Relations
CG Capital
1.877.889.1972
www.cg.capital
investorrelations@cg.capital
I know. Their current sales make up 1% of the TAM but that is a mix of the drugs, distributors, etc.
There are also incumbments that they have to steal from beyond the 6% CAGR.
Slides 4-6 address the TAM, or total addressable market that the company may be able to sell into. If they capture even a small portion of that, they will prosper.
Agreed on all that you said but I want to know who their competitors are. As an outsider all I can tell is that there are already incumbents so why can they beat them.
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You may have heard of Repro Med Systems, Inc. That’s us! Today, we are operating as RMS Medical Products, a leading developer and manufacturer of medical devices and supplies. The company was incorporated in March, 1980 and is now publicly traded . Our stock symbol is REPR.
Worldwide, RMS Medical Products drives healthcare inspiration – in the minds of our patients, our employees, our customers and our shareholders – to give everyone greater freedom for living. We design and manufacture safe, affordable medical devices to make quality healthcare a reality for everyone.
We focus on home and specialty infusion solutions, emphasizing responsive problem-solving for our customers, and careful consideration for the patient experience. Our primary products are the FREEDOM60® and FreedomEdge® DynEQ Infusion Systems, RMS Precision Flow Rate Tubing™, HIgH-Flo Subcutaneous Safety Needle Sets™ and RES-Q-VAC® Hand Held Medical Suction.
We are passionate about helping people with our reliable medical devices made at our HQ in Chester, NY (USA). Our products, as well as product support, are offered worldwide by RMS and through a global network of distributors and service providers.
RMS is excited to expand into new markets with innovative, more technical products. We look forward to productive partnerships with people and companies who share our vision and can help us effectively deliver our value promise to stakeholders in our industry.
Web Site
http://www.repro-med.com
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