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Repro-Med Systems (REPR)

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Last Post: 5/22/2019 4:21:51 PM - Followers: 76 - Board type: Free - Posts Today: 0

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: Statement of Changes in Beneficial Ownership (4) 05/09/2019 04:22:37 PM
REPR News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 05/08/2019 09:02:57 AM
REPR News: Initial Statement of Beneficial Ownership (3) 05/08/2019 09:02:21 AM
REPR News: Current Report Filing (8-k) 05/08/2019 09:01:20 AM
REPR News: Prospectus Filed Pursuant to Rule 424(b)(3) (424b3) 05/07/2019 08:39:33 AM
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#2299   https://files.constantcontact.com/8d9857b2301/6fc53748-8411-46e3-a20c-f6a5eec9fd blue_skies 05/22/19 04:21:51 PM
#2298   Sometimes people will use the demographics and potential blue_skies 05/08/19 11:31:08 AM
#2297   earnings out blue_skies 04/30/19 05:12:03 PM
#2296   https://finance.yahoo.com/news/rms-medical-products-schedules-2019-130000495.htm blue_skies 04/29/19 06:56:58 PM
#2295   whyte - here is what I am expecting. blue_skies 04/24/19 08:50:22 AM
#2294   whytestocks, have any predictions to make for Q1 results? blue_skies 04/22/19 11:12:38 AM
#2293   News: $REPR RMS Medical Products Schedules 2019 First whytestocks 04/22/19 09:20:41 AM
#2292   did you notice that it looks like RMS blue_skies 04/19/19 12:08:38 AM
#2291   This is a big deal for RMS medical(more blue_skies 04/19/19 12:03:43 AM
#2290   News: $REPR RMS Medical Products Receives FDA 510(k) whytestocks 04/18/19 02:00:40 PM
#2289   Repro Med Systems, Inc. announced that Dan Goldberger, blue_skies 03/15/19 08:42:02 AM
#2288   3/5/19 - director buys 15k shares at 1.54. blue_skies 03/05/19 05:21:39 PM
#2287   The selling, which started the day after earnings blue_skies 02/27/19 05:34:57 PM
#2286   Did the market sell on the news or blue_skies 02/14/19 11:14:07 AM
#2284   I do not think the investor community fully blue_skies 02/13/19 07:49:52 AM
#2283   Additional thoughts and observations on today's earnings release. blue_skies 02/12/19 07:06:45 PM
#2282   press release about earnings.. blue_skies 02/12/19 05:14:43 PM
#2281   Earnings for the last quarter of 2018 and blue_skies 02/11/19 01:42:53 PM
#2280   https://finance.yahoo.com/news/rms-medical-announces-ceo-strategic-140000458.htm blue_skies 02/04/19 09:38:00 AM
#2279   https://finance.yahoo.com/news/rms-medical-announces-ceo-strategic-140000458.htm blue_skies 02/04/19 09:28:12 AM
#2278   securities-registration-statement-s-1 The shares, which are being made availa blue_skies 02/01/19 09:34:25 PM
#2277   buyers are nibbling. blue_skies 01/15/19 12:03:09 PM
#2276   the trading pattern today looks interesting. One 10k blue_skies 01/14/19 03:58:35 PM
#2275   mrholty - I am not with the company blue_skies 01/04/19 04:13:11 PM
#2274   He was brought in as a consultant in mrholty 01/04/19 03:22:20 PM
#2272   stock repurchase plan. wouild love to see one. blue_skies 12/26/18 04:31:51 PM
#2271   separation agreement with fred ma blue_skies 12/26/18 04:29:50 PM
#2270   the lack of liquidity in this stock is blue_skies 12/21/18 01:49:30 PM
#2269   Below is the press release and the 8k blue_skies 12/17/18 12:27:41 PM
#2268   rms medical products continues to fill out management blue_skies 12/10/18 08:41:37 AM
#2266   repr breaks $1.40- time to nibble. blue_skies 12/07/18 01:20:22 PM
#2265   RMS new board members. The new guys see blue_skies 12/06/18 08:29:29 AM
#2264   link to the 9th annual Craig-Hallum Alpha Select blue_skies 11/19/18 03:06:40 AM
#2263   Goldberger is speaking today. blue_skies 11/15/18 01:40:49 PM
#2262   sprint - not sure how to answer you. blue_skies 11/08/18 03:59:24 PM
#2261   Hey blue what are we looking at here, sprintv66 11/08/18 03:18:05 PM
#2260   wearable drug delivery systems. blue_skies 11/01/18 08:59:47 AM
#2259   Intravenous versus Subcutaneous Drug Administration. Which Do Patients blue_skies 10/31/18 10:41:58 AM
#2258   link to cc transcript blue_skies 10/31/18 10:14:25 AM
#2257   the questions of the horton's warrants is addressed blue_skies 10/25/18 09:56:09 AM
#2256   mrholty - My take away from the CC blue_skies 10/24/18 06:24:53 PM
#2255   mrholty - After thinking things over, this is blue_skies 10/24/18 05:52:34 PM
#2254   Interesting about the warrants. I cannot remember mrholty 10/24/18 04:46:30 PM
#2253   CC - For me the most interesting thing blue_skies 10/24/18 09:54:39 AM
#2252   CC - For me the most interesting thing blue_skies 10/24/18 09:54:34 AM
#2251   no surprises - met expectations. The blue_skies 10/24/18 06:23:04 AM
#2250   I was not looking for it this morning. mrholty 10/23/18 05:55:17 PM
#2249   link to earnings press release blue_skies 10/23/18 04:38:29 PM
#2248   thoughts on earnings anyone? blue_skies 10/23/18 10:21:44 AM
#2247   third quarter earnings release date and conference call blue_skies 10/17/18 05:27:29 AM
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