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

sdf

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

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

3 ASX companies that are global leaders

Numerous ASX companies have extended their reach beyond Australia to dominate in their fields.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Bell Potter just slapped a buy on this ASX 200 share offering a 30% return

Which stock is being tipped as a buy? Let's find out.

Read more »

Happy healthcare workers in a labs
Healthcare Shares

Macquarie initiates coverage of Neuren Pharmaceuticals shares; forecasts 45% upside

The broker described Neuren as a standout in the ASX biotech sector.

Read more »

A woman leans forward with her hand behind her ear, as if trying to hear information.
Healthcare Shares

Does Macquarie think Cochlear shares are a buy, hold, or sell?

Macquarie has released a new note on Cochlear following the company's FY25 profit guidance change.

Read more »

Stethoscope with a piggy bank in the middle.
Healthcare Shares

Up 18% this year, does Macquarie expect NIB shares to go higher?

This expert has a bold prediction for NIB.

Read more »

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

Why is the Mesoblast share price up 11% in June?

The ASX biotech share reached a 10-week high of $1.94 today.

Read more »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

Up 51% since the tariff pain, is it too late to buy Pro Medicus shares?

After rocketing higher, is the ASX healthcare share still an opportunity?

Read more »

A woman wearing a yellow shirt smiles as she checks her phone.
Healthcare Shares

CSL shares push higher on US FDA approval

This biotech giant has been given a boost in the United States.

Read more »