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Chew on this Pal: DIIG We uncovered a company that hardly anyone is talking about, it has steady income flow and is on a major acquisition hunt.
If you are sick then getting second opinions on your MRIs and CAT scans is almost mandatory. But flying all over the country and doing the MRIs and CAT scans over and over is very expensive and timely.
DIIG solves this problem by transferring CAT scans and MRIs from one location to another for second opinions and interpretation and/or consultation.
DIIG has great cash-flow. Over 95% of their revenues are paid by the Ontario Government every 30 days, resulting in little to no aged receivables and predictable revenue streams. This enables them to take advantage of an early market opportunity to acquire established, profitable, and under-utilized imaging centers across the U.S. to create a synergistic portfolio of MRI centers that will be able to fulfill the demand for medical imaging services.
According to the American Medical Information, over 2,400 independent diagnostic testing facilities are presently operating in the U.S., creating a strong pool of acquisition candidates for DIIG. Their remote imaging services and MRI clinic acquisition strategy are designed to increase access to affordable, diagnostic imaging services and capitalize on a number of favorable long-term market trends
Investment Highlights
Pent-Up Demand: Demand for radiologists is expected to exceed its supply by 8 to 16% over the next 10 years, according to a report by LocumTenens.com. DIIGs Wholly-owned subsidiary CTS has the on-demand technology and radiologist network to fill this market void 24/7.
Targeting Larger, U.S. Markets: The United States medical imaging market is estimated to experience robust growth, reaching $11.4 billion by 2012, representing a Compound Annual Growth Rate (CAGR) of 8.2% from 2007. (Source: BCC Research).
Profitable Growth – Current annualized revenues from DIIGs subsidiary CTS are about $3 Million. By 2013, DIIG anticipates to acquire its first five MRI clinics, and increase North American sales.
Currently, DIIG’s annualized revenues are approximately $3 million, all generated from its CTS subsidiary. This represents an increase of almost 200% since 2008. In 2010, CTS is continuing to grow by aggressively adding new client contracts and increasing radiologist reading revenue. During the next 36 months, DIIG expects to expand its CTS subsidiary into the U.S. marketplace, as well as acquire the first five established diagnostic imaging clinics, which can create a dynamic platform for profitable growth and increasing shareholder value.
DIIG Targeted acquisition The clinic had revenues of just under $2,000,000 in 2011 and was cash flow positive by almost $600,000. Upon closing, the additional revenue from the clinic acquisition would increase DIIG annual revenues by almost 60%, with projected 2013 EBITDA of almost $0.04 per share.
DIIG Diagnostic Imaging International Corp. 2011 Financial Results-EBITDA of $0.012 Per Share
The Company is very pleased to report that it generated positive cash flow in 2011 and reduced its debt through the cash earned from operations. The Company is now looking to expand operations and is investigating acquisition targets. The Company will require financing in order to complete an acquisition.
EBITDA for 2011 was $0.012 per share.
DIIG Security Details
Share Structure
Market Value1 $452,662 a/o Oct 12, 2012
Shares Outstanding 18,106,481 a/o Aug 20, 2012
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