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Repro-Med Systems (REPR)

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Last Post: 8/16/2018 4:35:38 PM - Followers: 75 - Board type: Free - Posts Today: 1

Overview
Repro-Med Systems, Inc. (dba RMS Medical Products) engages in the design, manufacture, and marketing of proprietary medical devices primarily for emergency medical applications and ambulatory infusion therapy. It offers the FREEDOM60, an infusion system that enables administration of primary immune deficiency by injecting immune globulin under the skin for the home health care industry and patient emergency transportation. The company's FREEDOM60 is also used for treating thalissemia with the drug desferal; for pain control, primarily post-operative epidural pain administration; and for chemotherapy in Europe. Repro-Med also manufactures the FREEDOM60-FM, which contains an electronic flow monitor system that provides occlusion and end of infusion alarm for nursing homes, hospitals, and pediatric ambulatory applications; and the RES-Q-VAC Emergency Airway Suction System, a hand-operated suction device that removes fluids from a patient's airway by attaching the RES-Q-VAC pump to various proprietary sterile and non-sterile single-use catheters sized for adult and pediatric suctioning. In addition, the company offers DENTAL-EVAC for emergency back up suction during a procedure to oral surgeons; and RES-Q-VAC for military situations, such as exposure to chemical weapons of mass destruction. Repro-Med sells its products directly, as well as through a network of domestic and international distributors, and medical device distributors.

Web Site
http://www.repro-med.com

Main Products


Historical Financials
 

Quarter    Q1'07(May)    Q2'07(Aug)    Q3'07(Nov)    Q4'07(Feb)     Q1'08(May)    Q2'08(Aug)    Q3'08(Nov)    Q4'08(Feb)    Q1'09(May)   Q2'09(Aug)
Revenue $347,725 $416,009 $457,991 $512,855 $397,417 $605,946 $620,879 $723,436 $699,976 $936,495
Net Income -$207,314 -$89,149 -$67,695 $29,389 -$178,520 $54,367 $61,359 $55,292 $64,784 $275,529


Press Releases
06/11/2007 Higher Medicare Reimbursment for Freedom60 Syringe Infusion Pump -http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776642
08/22/2007 Medicare Clarification Reimbursing the Freedom60 with Subcutaneous Immune Globulin - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776847

WallSt.net Interview - Required Listening
http://www.wallst.net/audio/audio.php?ticker=REPR&id=3552
some tidbits from the interview:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=29134839

Investment Thesis
1. The company has been hiring like crazy since the middle of last year. This rapid hiring indicates that business is going quite well. Also, I believe that much of this growth has yet to hit the bottom line. As of Feb 2007 they had 17 employees which makes the evidence in the links below look quite bullish.

Picture of hiring sign on building - http://investorshub.advfn.com/boards/read_msg.asp?message_id=24616830
Local DD of international expansion and radio advertising - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28793219
Currently available positions - http://www.rmsmedicalproducts.com/Careers.htm
Bookkeeper / Purchasing Associate 4/24/08 - http://investorshub.advfn.com/boards/read_msg.asp?message_id=28778524
Customer coordinator posting 10/02/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=198
Assembler hiring posting 08/30/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=194
Assembler hiring posting 7/24/07 - http://ragingbull.quote.com/mboard/boards.cgi?board=REPR&read=190

2. Freedom60 sales have been growing rapidly and I believe will continue to grow rapidly. Here is why:
a. The Freedom60 pump is the most popular pump used for subcutaneous administration of immunoglobulin (SCIG) according to my conversation with CSL Behring who is the maker of the drug used for SCIG. I also verified this with a nurse. The Freedom60 pump is also the least expensive.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28854506
b. Vivaglobin® is the first and only immunoglobulin FDA-approved for subcutaneous administration (SCIG). Vivaglobin sales are increasing rapidly according to CSL's financial report.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28777209
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28775119
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28838950
c. The Freedom60 is the only device approved by Medicare for in-home SCIG treatment. This point was just clarified in August of last year. Also, Medicare reimbursement for the Freedom60 was increased 20 fold in June of 2007.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776642
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28776847
d. The FREEDOM60 is superior to other pumps for SCIG. Here is what the company says about this in the 10-K: "We have surmised and have recently confirmed anecdotally that the Freedom60 system because of its constant safe pressure design is the ideal technology to infuse this medication regardless of cost. IgG is quite viscous, and the Freedom60 appears to adjust automatically to patient tissue saturation, preventing complications at the administration sites which include pain, swelling, redness and possible tissue damage. Competitive electronic devices, which are also used for this indication, can deliver higher and quite possibly harmful pressures, and will reach occlusion pressures, which will frequently cause the electronic pumps to shut down prior to completing the drug delivery."
e. The most pervasive treatment for Primary Immunity Deficiency right now is IVIG (intravenous). People are switching to SCIG because:
- It is more convenient.
- It costs less.
- There are less adverse reactions.
- Because treatment is generally done weekly instead of monthly the immunity level remains more constant which should help keep the patient more healthy.
f. The company made bullish statements about growing Freedom60 sales in the last 10-Q.
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28781222
g. According to the immune deficiency organization (www.primaryimmune.org) there are more SGIG drugs that are going through trials right now. This should further increase demand for SCIG treatment and Freedom60 sales.

3. They have high gross margins. Last quarter they were 64%. This means that any additional sales rapidly increase earnings.

4. They get a big recurring revenue stream from each Freedom60 that they sell. Annual sales for supplies for the Freedom60 cost on average $252/unit. The list price for the Freedom60 is $399. The revenue information that they put in the 10-K regarding disposable sales indicates that they are thinking big. See the following post for more info:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=28775289

5. Growing medical businesses are recession proof. I really like businesses like that right now.



More headquarters pics: http://investorshub.advfn.com/boards/read_msg.asp?message_id=24616830 (11 total)

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REPR News: Quarterly Report (10-q) 08/06/2018 04:35:14 PM
REPR News: Current Report Filing (8-k) 08/06/2018 04:33:27 PM
REPR News: Statement of Beneficial Ownership (sc 13d) 08/06/2018 04:14:25 PM
REPR News: Statement of Changes in Beneficial Ownership (4) 07/05/2018 01:32:57 PM
REPR News: Statement of Changes in Beneficial Ownership (4) 07/03/2018 04:51:37 PM
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PostSubject
#2196   Andy's large number of shares present a problem. blue_skies 08/16/18 04:35:37 PM
#2195   i noticed that earlier. i am not sure blue_skies 08/13/18 06:36:15 PM
#2194   Interesting 8k out: bigpike 08/13/18 05:03:31 PM
#2193   I would have expected a bump in volume blue_skies 08/09/18 02:52:07 PM
#2192   budge - your exactly right and said it blue_skies 08/07/18 04:10:36 PM
#2191   "sales to pharmaceutical companies. (.3m?) I think this budge 08/07/18 10:44:28 AM
#2190   listened to conference call. blue_skies 08/07/18 09:50:48 AM
#2189   The Company will host a conference call to blue_skies 08/06/18 07:48:30 PM
#2188   i agree a pleasant surprise - not a blue_skies 08/06/18 07:00:27 PM
#2187   better than what I was initially expecting. mrholty 08/06/18 06:17:26 PM
#2186   reaction to earnings? blue_skies 08/06/18 05:08:53 PM
#2185   I've emailed the compnay with a few similar mrholty 08/03/18 05:54:43 PM
#2184   that is a good question at the company blue_skies 08/03/18 02:13:19 PM
#2183   I agree with you on the business model. mrholty 08/03/18 10:37:30 AM
#2182   holty - sell the razor blades give blue_skies 08/02/18 07:27:24 PM
#2181   earnings will be announced on 8/6 with a blue_skies 08/02/18 03:31:43 AM
#2180   My math is similar to yours but since mrholty 08/01/18 12:42:50 PM
#2179   mr. i was slightly disappointed to see revenue blue_skies 08/01/18 06:48:09 AM
#2178   I don't think Andy went willingly. I mrholty 07/31/18 05:21:22 PM
#2177   i reread the recently filed 8k. I wonder blue_skies 07/31/18 12:50:23 PM
#2176   my take of the press release. blue_skies 07/29/18 04:24:12 AM
#2175   press release blue_skies 07/26/18 09:12:44 AM
#2174   vulcan - What Andy said in the Mike blue_skies 06/26/18 11:43:03 PM
#2173   @blue skies. I agree with what I feel TheHappyVulcan 06/26/18 06:42:39 PM
#2172   Vulcan - I went back and reviewed the blue_skies 06/26/18 05:16:57 PM
#2171   happy - your quite correct that no one blue_skies 06/26/18 04:39:46 PM
#2170   From having worked in an emergency room for TheHappyVulcan 06/26/18 12:06:36 PM
#2169   Andy Sealfon was on Mike King's radio show blue_skies 06/25/18 12:00:04 PM
#2168   A small court victory. bigpike 06/13/18 10:59:30 AM
#2167   mrholty - My guess is Manko is buying blue_skies 06/11/18 09:16:00 AM
#2166   My thoughts exactly. mrholty 06/11/18 08:17:46 AM
#2165   big - thanks blue_skies 06/10/18 07:38:51 PM
#2164   RMS listed here. bigpike 06/09/18 11:08:43 PM
#2163   Any thoughts of today's action? blue_skies 06/08/18 04:33:45 PM
#2162   mrholty - this quarter is free of legal blue_skies 06/05/18 04:49:08 PM
#2161   to hit $0.02/share you need almost $1.0 in mrholty 06/05/18 04:36:05 PM
#2160   Mr Manko has put his reputation on the blue_skies 06/05/18 04:24:12 PM
#2159   My last comment is that Joseph Manko our mrholty 06/05/18 04:16:07 PM
#2158   I have. No decent response to questions mrholty 06/05/18 03:53:58 PM
#2157   mrholty below is the contact info given blue_skies 06/05/18 03:30:34 PM
#2156   I know. Their current sales make up mrholty 06/05/18 03:09:11 PM
#2155   Slides 4-6 address the TAM, or total addressable bigpike 06/05/18 03:07:01 PM
#2154   Agreed on all that you said but I mrholty 06/05/18 03:06:42 PM
#2153   mrholty As I see it, the slides are blue_skies 06/05/18 01:50:43 PM
#2152   I would agree that they didn't connect. mrholty 06/05/18 01:04:51 PM
#2151   The lack of any volume following the presentation blue_skies 06/05/18 12:41:36 PM
#2150   goldbergers presentation -june 4 blue_skies 06/04/18 03:37:12 PM
#2149   new director, Daniel Goldberger, making a presentation at blue_skies 05/31/18 08:31:53 AM
#2148   look at the company presentation from the stockholders meeting. blue_skies 05/31/18 08:19:33 AM
#2147   vulcan - not many small investors judging by blue_skies 05/14/18 07:00:33 PM
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