Intelligent Ultrasound Share Discussion Threads

[parsons4] 17/8/2024 07:11

Like most other deals of this nature the market is concerned about how well the management can perform going forward with what is left !!! The problem is that they will leave quite a few $million in the bank which also guarantees their lifestyle !!

[40 fathoms] 15/8/2024 09:07

@HootStox - it is still under consideration, practically it is most likely to be a capital return or a tender offer. @bmcollins is correct, whatever the event there will be a declared date for participation. This has not happened yet so any shares purchased before that date will be able to participate.

@Route1 - Nothing declared yet but they have said they will do so after the transaction has closed, current estimate for closing is 1st October. They will have @12p of net cash at this stage and have said they will distribute a "material" amount of it. We have not been told yet what "material" means in pounds, shillings and pence. They have said that they will present details of the capital return and the results of the strategic review of the simulation business prior to the transaction closing.

[route1] 15/8/2024 08:05

As a shareholder I have been out of touch lately.Has IUG declared a dividend, if so how much will it be per share, and what is the payment date?Grateful for any information.

[bmcollins] 15/8/2024 07:44

I assume shares bought before it goes xd rank for the divi as is usual.

[hootstox] 15/8/2024 07:26

Out of interest how would a special dividend like that happen. Would you have had to have held shares for a while or is there still a date you could be in from?

[bmcollins] 15/8/2024 07:07

@40 F
Thanks for your thoughts on the interview, if we do receive 10p or better and a share in the rump business we will be in a good position as my, very simplistic view, is that the management have always been very straightforward and inventive, if they think the rump is worth developing then it probably is, hence my decision to stick with this stock.
We await October with modest anticipation

[40 fathoms] 14/8/2024 23:23

Not much new from the IMC interview.

My reading between the lines takeaway is that the CEO put emphasis on the term "Material" for the return of capital. Given IUG with the simulation business is essentially at cash breakeven and that we have the HSBC facility in place I cannot see them needing to retain more than GBP 5 million in cash to support working capital, R&D etc. I am expecting a Capital Return of 10.75p to 11p per share.

Beyond the obvious growth in the various simulation platforms of which Needletrainer can grow significantly (specific Military mention again), I think we got a hint that they might be looking at introducing some sort of more formalised training/education product. The other obvious thing to do might be to take on direct sales in other key markets where they are using distributors.

[40 fathoms] 14/8/2024 09:55

Sorry to see you go Bamboo and that it has not really worked out for you.

[bamboo2] 14/8/2024 09:50

bmc, I might be back!

Proceeds into IPGroup and QTX

Good luck to those more patient than I!

[bmcollins] 14/8/2024 09:10

@bamboo
As you say it is disappointing and I agree the cash return might not be as good as it could be but I'd like more information from the company concerning their plans for the rump businesses as I have been impressed with their management historically, hence my wait & see approach.
My in price is much the same as yours, I'm on breakeven, time alone will tell !
It has been good conversing with you, so I am sorry that you are leaving us...

[bamboo2] 14/8/2024 08:59

I'm worried about the amount of cash they will take from the GEHC deal to keep the simulation business going, I have sold my final 150,000 today at around b/e

All a bit disappointing.

[bmcollins] 14/8/2024 08:40

Not the most positive of news, for sure, when the deal with GEHC was announced I made the decision to stay a holder of IUG but I did not expect quite that cash burn in the non GEHC areas.
On the other hand the management have always been open & honest whilst developing an idea into various businesses over quite a few years so I will wait to see what their review throws up before making any further decisions.

[bamboo2] 14/8/2024 06:27

14 August 2024

Intelligent Ultrasound Group plc

Half Year Results 2024



Intelligent Ultrasound Group plc (AIM: IUG), the 'classroom to clinic' ultrasound company, specialising in artificial intelligence (AI) software and simulation, announces its unaudited half year results to 30 June 2024.



Post period end on 18 July 2024, the Group announced that it had entered into a conditional sale and purchase agreement for the sale of its Clinical AI business (Intelligent Ultrasound Limited and certain other clinical AI related assets) to GE HealthCare for an enterprise value of £40.5 million on a cash free/debt free basis. The proposed sale, that excludes the NeedleTrainer and NeedleTrainer Plus products, was approved by shareholders on 6 August 2024 and is now only subject to regulatory approval expected by the end of September with completion of the sale to follow in October.



The results from the Clinical AI business have been reported as a discontinued operation and the remaining Simulation business (now including NeedleTrainer) as continuing operations.



Positives in the first half of 2024 were:

· ROW reseller sales growing 37% to £1.6m (H1 2023: £1.1m)

· NeedleTrainer revenues increased to £1.0m (H1 2023: £0.5m)

· Administrative costs reduced by £0.1m to £4.0m (H1 2023: £4.1m) and include a number of cost savings across the Group

· Cash burn reduced significantly to £2.0m (H1 2023: £3.8m) leaving cash as at 30 June 2024 of £1.0m (31 December 2023: £3.0m)



However, revenue from continuing operations in the first half of the year declined by 22% to £4.5m (H1 2023: £5.8m). This results from a decline in the UK and North American markets.

· The decline in UK sales was expected, due to previously flagged NHS budget pressure, reducing sales by 58% to £0.8m (H1 2023: £1.9m)

· However, the 23% decline in North America sales to £2.2m (H1 2023: £2.8m) was not anticipated, with nearly £0.7m of expected sales held in delivery backlog or purchase order delays



The Group loss after tax for the period was £2.0m (H1 2023: £1.2m), of which £1.3m (H1 2023: £0.5m) relates to continuing operations and £0.7m (H1 2023: £0.8m) relating to discontinued operations.



Riccardo Pigliucci, Chair of Intelligent Ultrasound commented:



"We have spent the last seven years successfully creating first-to-market AI products and have built a strong capability in real-time automated ultrasound image analysis, so we are delighted that our achievements have been recognised by GE HealthCare.



The remaining Simulation Business had a difficult trading period in the first half of this year with a material decline in sales in the UK due to NHS budgeting constraints and a decline in the US due to delivery backlog and purchase order delays. However, going forward Simulation will be boosted by the inclusion of the NeedleTrainer range previously reported in our Clinical AI business, and the Board will use the time between signing and completion to conduct a comprehensive review of the business.



It is the Board's intention to make a material return of capital following a review of the growth potential and capital requirements of the post-transaction business and is taking legal and tax advice on structure of a return. An announcement detailing the proposed use of funds and strategic direction for the Company is expected to be made by the time the sale completes."

[bmcollins] 09/8/2024 02:15

@40 Fathoms
I agree totally, they must have a very good idea of the board's plans for distribution, this raises my hopes somewhat.
Thanks for your post, highly insightful.

[40 fathoms] 08/8/2024 23:32

Quote below is from an RNS put out today by the IP Group - I would suppose they are not stating this publicly unless they have some sense of what the size of the return is likely to be and we can combine that with the recent article with the CEO saying no acquisitions are being considered.

"In addition to the above, the Group notes that Intelligent Ultrasound Group plc plans to make a 'material return of capital' following the announced sale of its Clinical AI business to GE HealthCare for an enterprise value of £40.5m. IP Group has a 20.8% holding in Intelligent Ultrasound."

[40 fathoms] 08/8/2024 14:53

Interview posted yesterday with the CEO, talks about the simulation business.

[bmcollins] 06/8/2024 11:54

So we should know how much of the 12.4p consideration we will receive, and the way we will receive it, sometime Sep/Oct according to the post AGM RNS.

[bmcollins] 04/8/2024 13:49

@40
I've been sitting tight on my holding as I took the view that when a company sells off a substantial part of the business then that is probably just the start
I think you are calling IP group correctly but as you say we're in AIM ..
Fingers crossed!

[40 fathoms] 04/8/2024 13:32

Anything is possible, this is AIM after all. My working assumption is that IP Group will want as much cash distributed as possible and will not be keen on taking the risk on a substantial acqusition.

I am also becoming more and more convinced by the view that they will also sell the simulation business in pretty short order.

[bamboo2] 03/8/2024 09:52

40F, What if the co. decides to keep a sizeable portion of the proceeds, perhaps for a possible acquisition? I have gradually reduced my sizeable position at approx 10.5p recently, just in case we don't end up getting as much as we might hope.

[40 fathoms] 31/7/2024 09:35

Should be an interesting one, I would expect we will get some initial thoughts on the Capital Return and on the future of the simulation business.

[bamboo2] 31/7/2024 06:28

31 July 2024

Intelligent Ultrasound Group plc

(the "Group" or the "Company")



Notice of results

Analyst and investor briefing



Intelligent Ultrasound Group plc (AIM: IUG), the 'classroom to clinic' ultrasound company, specialising in artificial intelligence (AI) software and simulation, announces it will issue its interim results for the six months ended 30 June 2024 on Wednesday, 14 August 2024.



A briefing for analysts will be held via video call on 14 August 2024 at 09:30am BST. To register, please contact [e-mail]



The Company will host a live presentation for investors given by CEO Stuart Gall and CFO Helen Jones via the Investor Meet Company platform on Wednesday, 14 August 2024 at 11:00am BST. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 13 Aug 2024, 09:00am BST, or at any time during the live presentation.



Investors can sign up to Investor Meet Company for free and add to meet the Company via:




Investors who already follow Intelligent Ultrasound on the Investor Meet Company platform will automatically be invited.

[bamboo2] 25/7/2024 09:39

ALS, It's a £10m turnover business.

Probably up for sale, I guess of interest to others in the medical world and education/training sector.

[arthur_lame_stocks] 25/7/2024 09:27

As far as I can see, admittedly after a very brief look at the figures, is that what is left after the disposal, the simulation business Medaphor, is worthless to shareholders.