Imricor (ASX:IMR) share price rises on latest update

The Imricor Medical Systems Inc (ASX: IMR) share price is edging higher today after news another hospital has purchased one of its products.

| More on:
Young doctor raising arms in air with hands in fists celebrating a new development

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Imricor Medical Systems Inc (ASX: IMR) share price is edging higher today. As of writing, shares in the medical device company are trading for $2.10, up 2.94%. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is 0.4% higher.

Today's positive price movement comes as the company advised another hospital has purchased one of its products.

Let's take a closer look at the announcement and what it means for the Imricor share price.

Imricor company profile

Imricor is a medical device company that addresses issues with traditional x-ray-guided tissue removal procedures by developing MRI-guided technology. The company's products include Advantage-MR EP recorder/stimulator, Vision-MR dispersive electrode, and its premier product, the Vision-MR ablation catheter.

According to the company, the ablation catheter is specifically designed to work under real-time MRI guidance to achieve "faster and safer treatment" than x-ray guidance.

What's affecting the Imricor share price

In a statement to the ASX, Imricor announced Helios Hospital in Berlin, Germany, had signed a purchase agreement for an interventional cardiac magnetic resonance imaging (iCMR) lab to perform ablations with Imricor's products. It is the 10th such hospital to sign an agreement with the company.

The medical imaging company did not disclose how much the deal was worth, or if there are any conditions to it. Despite this, investors are responding well to the news today, judging by the Imricor share price.

Imricor chair and CEO Steve Wedan said:

We are very pleased to add a second Helios hospital to our installed base, as Berlin-Buch joins the Helios Leipzig Heart Centre in adopting iCMR guided ablations.

While Europe continues a gradual recovery into a post COVID-19 era, we are very happy to be able to continue growing the number of centers [sic] enabled with Imricor's solution for the future of cardiac electrophysiology.

The company expects operations with its products to begin at the hospital within a short period of time.

Imricor share price snapshot

Over the last 12 months, the Imricor share price appreciated 104.9%. However, it has fallen 22.4% over the last 6 months and 11.5% since February.

Imricor Medical Imaging has a market capitalisation of $240.2 million.

Motley Fool contributor Marc Sidarous has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Healthcare Shares

A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.
Technology Shares

Up 60% in two months, is it too late to buy Pro Medicus shares?

Pro Medicus has been delivering solid returns for years. Can the trend continue?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Healthcare Shares

Why this ASX All Ords stock is jumping 9% today

What has put a rocket under this stock on Friday? Let's find out.

Read more »

A hipster dude leaps in the air with glee, seeing positive news on his tablet.
Healthcare Shares

Which ASX 200 stock is jumping 11% on big news?

Investors are responding very positively to a big announcement.

Read more »

Senior woman using cpap machine to stop choking and snoring from obstructive sleep apnoea with bokeh and morning light background.
Healthcare Shares

Up more than 75% since October 2023 — are ResMed shares a buy, hold or sell?

ResMed shares have surged more than 75% since October 2023, but is it too late to buy? We break down…

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

Two brokers analysing stocks.
Healthcare Shares

Why does Macquarie think Fisher & Paykel shares are a buy?

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) shares have been on form over the past 12 months. During this…

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Healthcare Shares

Which small cap ASX share is jumping 10% on strong results

Investors have been bidding this stock higher today. But why?

Read more »

Cropped shot of an attractive young female scientist working on her computer in the laboratory.
Healthcare Shares

Why Macquarie forecasts 30-50% upside for these ASX All Ords healthcare stocks

Macquarie updated its target price on these three ASX All Ords healthcare stocks.

Read more »