Intelligent Ultrasound Share Discussion Threads

[40 fathoms] 12/3/2024 23:38

@bamboo - Well found. So if we take some function of this price as a proxy for our clinical AI business, we can then use some function of Surgical Science P/E for our simulation business you are going to end up with a share price at @50p per share.

Given how awful AIM is at the moment at assigning value to growth companies, by my reckoning if we receive a T/O offer this year it will be at between 20p and 25p per share. If we see decent GA licensing activity you can bump that up by 5p, proof of concept in liver another 5p (liver is worth much more but also requires significant investment) and a large DOD deal for ScanNav PNB would add 2p.

A nice return but it would still leave a great deal on the table and I would prefer to see things be allowed to play out, at very least until liver is a commercial product. The question is where does the required investment for liver come from, equity, debt, partnership ? It probably needs @GBP 3.5 million to get it through trials and to market. I would be disappointed if they issued equity so I would prefer to see debt or partnership. One would think it would be possible to raise a modest amount of sensible finance against the GE revenue stream or to find an industry partner who is prepared to finance this.

With all of that said, I think it is safe to conclude that 9.5p per share significantly undervalues the business in almost all scenarios.

[bamboo2] 12/3/2024 09:31

40F, I was digging around on GEHC website and stumbled across the figures for the Caption deal. For info copied below.
Looks like $150m if all performance milestones are hit.

==================

ACQUISITIONS.
On February 17, 2023, the Company acquired 100% of the stock of Caption Health, Inc. (“Caption Health”) for $127 million of upfront payment, $10 million future holdback payment and potential earn-out payments valued at $13 million based primarily on various milestones and sales targets. The preliminary purchase price allocation resulted in goodwill of $105 million, intangible assets of $60 million, and deferred tax liabilities of $14 million. The goodwill associated with the acquired business is non-deductible for tax purposes and is reported in the Ultrasound segment. Caption Health is an artificial intelligence (“AI”) company whose technology expands access to AI-guided ultrasound screening for novice users.

[40 fathoms] 11/3/2024 23:35

That is fantastic news.

If we are offered as standard on the Signature, that will mean we are taking $450-$500 on @10,000 machines per year and I would expect over the next 18 to 24 months we go from being optional to standard on the Swift and are also introduced on to the Professional seriesl. This would take us to +15,0000 units per year and @$6,500,000 high gross margin royalty income.

We should also not forget that we also have a second agreement in Women's healthcare that has been signed with GE, we still don't know exactly what that is for but I would hope to hear soon.

One might also expect that GE would have an interest in our Gestational Age product. This will both deskill and knock minutes of the determination of gestational age determination. It is not to hard to see that this can be worth signficanlty more than Scannav/sonolyst. It should be something that would find its way in to primary care ultrasound and not just women's health.

[bamboo2] 11/3/2024 14:35

gsb, thanks for posting.
That will make 40F's day!

[gsbmba99] 11/3/2024 14:31

There's a new 510(k) approval on the FDA website for the Voluson series. This one is for Signature 20 and Signature 18. The "Decision Summary" isn't available yet so you can't compare the changes to the previous machine. This is the first 510(k) for Signature series since January of 2022. Hopefully this will now mean IUG being offered across the complete Voluson range.

[bamboo2] 11/3/2024 11:59

clocktower, It works both ways!
Holding some trading shares bought at the lows may have helped stop the share price dropping even lower than it did recently. I have no need of the cash and am in here for the long term. The main holding will remain, probably until a bid comes in.

Eeza, thanks.

[eeza] 11/3/2024 10:55

There's the late reported trade.
151k+ @ 9.89p

[clocktower] 11/3/2024 09:29

Bamboo2 that’s the trouble and why the market stagnates on these smaller stocks, selling at just 11p . One or two more bits of good news and you could be looking at 14/15p and I understand trading a few at that level.

However good luck, it may give a few investors an opportunity in due course, if they are not willing to take up a few now.

[bamboo2] 11/3/2024 08:55

Must be some background [delayed reporting] trades yet to emerge.

No quote online, but can sell 100k for 10p [each]
I won't sell any of my trading shares for less than 11p

[eeza] 11/3/2024 07:04

Yes, thank you 40 F.

[40 fathoms] 10/3/2024 23:31

@eezra - it was for the upgrade of the software on 8 existing systems so I think the 3 months is for the length of time that work would be undertaken.

[bamboo2] 10/3/2024 08:40

Midas,

"Other firms changing the face of medical science include Intelligent Ultrasound, whose software makes it easier to analyse scans as they happen, whether for pregnant women or patients with heart issues. The firm punches above its weight and the shares, at 8.75p, should deliver long-term rewards."

[chester9] 01/3/2024 09:37

Good spot. It all adds up

[40 fathoms] 01/3/2024 09:28

Published on Tuesday. @285k is not going to make or break the year but I will take it nonetheless.

[clocktower] 29/2/2024 10:47

Nice to see a little more volume and an increased interest in the stock.

[bmcollins] 29/2/2024 09:05

@40Fathoms
Your posts are amazingly well informed, I really do appreciate them, thanks !

[40 fathoms] 29/2/2024 08:51

I am relying on google translate but it seems that @2 weeks ago the Brazilian regulator approved a new Voluson Signature series for marketing. If that is correct and given these things are typically submitted across major markets at a similar time, it might suggest we will see an FDA approval in the near term as well. There are pretty short odds that Sonlolyst Live will be included as a standard feature and that well before the end of this year we will be getting a per unit royalty on between @10k and 11k of the 15,000 units Voluson sells per anum.

[bamboo2] 29/2/2024 07:20

RNS Number : 8593E
Intelligent Ultrasound Group PLC
29 February 2024

Intelligent Ultrasound's NeedleTrainer and ScanNav Anatomy Peripheral Nerve Block now part of NHS Scotland anaesthetist training program



PRESS RELEASE 29 February 2024: Intelligent Ultrasound Group plc (AIM: IUG), the 'classroom to clinic' ultrasound company specialising in AI software and simulation, is pleased to announce NHS Education for Scotland (NES) has incorporated the company's NeedleTrainer and ScanNav Anatomy Peripheral Nerve Block (PNB) in its anaesthesia training program.



Intelligent Ultrasound's Classroom to Clinic package is designed to meet the two key challenges of ultrasound guided regional anaesthesia (UGRA): capturing and interpreting ultrasound images and inserting the needle to deposit local anaesthetic at a target site. The risks of poorly performed UGRA and ultrasound-guided needle insertion are well documented, including damage to nerves that can lead to chronic pain, loss of sensation and muscle weakness. Poor identification of structures on ultrasound can lead to needle trauma to blood vessels, the lung, bowel and kidney.



NeedleTrainer uses a retractable needle and virtual image overlays to simulate needling non-invasively on a live participant, using an authentic live ultrasound scan. This enables trainees to develop hand-eye coordination, optimum positioning, and accuracy in ultrasound-guided interventional procedures in a realistic clinical environment with minimal risk.



ScanNav Anatomy PNB produces a colour overlay on real-time ultrasound to support scanning for UGRA. A recent study published in the British Journal of Anaesthesia showed that availability of ScanNav Anatomy PNB was associated with an increase in the number of blocks performed by anesthesiologists, without a decrease in quality of care.



As a teaching package, this provides increased efficiency, whereby education can be carried out in a cost-effective and scalable manner, with enhanced educational outcomes. The platforms will be used at the School of Medicine, University of St Andrews where Dr Alasdair Taylor and co-director Dr James Bowness will use NeedleTrainer as part of their two-day Regional Anaesthesia: Plan A Blocks course.



NES joins its counterpart body in Wales (Health Education and Improvement Wales), which invested in Intelligent Ultrasound platforms to help meet curriculum changes and provide more safe, effective learning opportunities in ultrasound-guided interventional procedures.



Stuart Gall, Chief Executive Officer of Intelligent Ultrasound: "Ultrasound-guided needle insertion is now a key competency requirement for multiple specialties. This investment moves us closer to our vision of transforming medical training, ensuring safer practices, and ultimately enhancing patient care. Together, we are bridging the gap from classroom to clinic with innovative solutions that empower medical professionals across Scotland and beyond."



Dr Ed Mellanby, Simulation Associate Postgraduate Dean for Scotland, said: "It is a huge challenge to consistently meet the requirements of training in regional anaesthesia in a safe and reliable way across all trainees in Scotland. We are developing a national approach to simulation training in Scotland, with the aim of sharing resources and expertise across the country in order to improve quality and equitability of access. This technology aligns with that ambition and with both patient and curriculum requirements. I am really excited to see how this can reduce the variability in practice and training, and witness the positive impact on performance that we believe this will produce."



Dr Alasdair Taylor, Consultant Anaesthetist, Ninewells Hospital, Dundee, said: "As a team, we want to increase the delivery of safe and efficacious ultrasound guided regional anaesthesia to patients in Scotland as the potential benefits are well known. When performed well, patients benefit from reduced morbidity, improved pain scores, and a reduced opiate requirement and the consequent side effects. Organisations can benefit from greater theatre efficiency, and shorter length and cost of inpatient stay. Also, with the long-term aim of performing more awake regional anaesthesia, we can achieve a reduced carbon footprint for surgical procedures."

[eeza] 29/2/2024 07:14

RNS


NHS Scotland Adopts Classroom to Clinic Training

[40 fathoms] 28/2/2024 23:01

@bamboo - it is from Bloomberg, on occasion I get access to a terminal.

[bamboo2] 28/2/2024 14:14

eeza, agree.

It seems much of the time UK shares trade at a discount, only showing their real worth when a bid is announced.

40F, those figures are amazingly detailed. Do you have a source?

[40 fathoms] 28/2/2024 13:08

Not sure this is very helpful but here is where the bulk of the selling has come from over the last @3 months to 06/02/24.

Technikos LLP -892k (Now Out)
Schroders -175k (Now Out)
Javis Investment Management -1.35 million (2 million shares left)
Rathbone Brothers (-633k @9.95 million left - seemed to have stoped at a few shares above 3%)
Dowgate Capital (-170k @10.50 million left - seemed to have stoped at 3.2%)

This is in addition to a number of accounts that are more obviously retail in nature, Barclays being the largest at -620k. Only take up on the institutional side I can see is Arthurian Life Sciences SPV GP +1.2 million. Polar Capital +439k to 27.26 million(8.34%), Goldman Sachs +217,522 to 7.5 million (2.29%). On the retail side key increases come form AJ Bell +678k, Hargreaves Lansdowne + 568k, Cenkos +311k and Charls Stanley +245k

[eeza] 28/2/2024 11:42

I don't think movement of share price should be a consideration as to whether or not release an RNS.

[bamboo2] 28/2/2024 11:36

This could also help with due date accuracy and reduce the number of induced births as LMP seems quite unhelpful in many situations.

Price back down.

You have to wonder, is it really worth the cost of raising an rns?