Leading health imaging company Pro Medicus Limited (ASX: PME) yesterday announced the implementation of an on-market share buy-back for a period of 12 months.
The company's announcement that it will buy-back up to 10% of its shares issued during the last 12 months is a strong signal that it is performing well in selling its electronic healthcare systems into the large US market.
The company posted a net profit of $1.6 million on revenue of $8.6 million for the six-month period ending December 31, 2014.
The chief executive officer recently told an analysts' briefing that it expects margin expansion in the US to be joined by a strengthening US dollar to give the company a couple of powerful tailwinds in the year ahead.
The group's growth is largely dependent on its ability to keep winning money-spinning contracts to provide electronic services to US healthcare operators. Recently winning some high profile contracts should support the sales effort and it is operating in a big but competitive market. Currently selling for $1.38 it looks one for the watch lists of small-cap investors.
Other junior healthcare-related businesses hoping to make it big in the US by selling cutting-edge products include Nanosonics Ltd. (ASX: NAN) and Admedus Ltd (ASX: AHZ).
