Lombard Medical Technologies Share Discussion Threads

[shorewalk] 26/2/2014 10:33

Next news should be approval for Japan. Then confirmation that new facility is in production followed by results along with an update on sales. Get all the ducks in a row before IPO.

[munkychunky] 26/2/2014 10:07

still tempted? No details on fundraising I see in the RNS

[nod] 15/2/2014 00:43

I am very tempted to add some shares ahead of the Nasdaq IPO. It looks as if the share price is just waiting for the move. LMT probably want to be in a position to present some good sales news in the IPO document.

[shorewalk] 13/2/2014 12:41

Management ticking the boxes, but I guess only reports on nos. of procedures
will start this moving up. Need Patients - pun intended.

[nod] 13/2/2014 08:38

Another... live case demonstration of a challenging AAA repair using Aorfix(TM), the Company's flexible endovascular stent graft, to more than 150 physicians at iCON 2014, a meeting of the International Society of Endovascular Specialists in Phoenix, AZ.

[shorewalk] 30/1/2014 23:04

Excellent find - thanks
I think the market will eventually wake up to the potential here. Maybe once Japan is onboard, not sure we will make it to IPO. Chairman brought in with history of getting sale. Consolidated production facility. After IPO purchaser will have to pay a lot more - so I reason they might get in first. IMHO

[nod] 30/1/2014 08:18

A good story today...30 January 2014Lombard Medical Technologies PLCLive case demonstration using Aorfix™ at LINC 2014London, UK and Irvine, CA, 30 January, 2014 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical device company focused on Endovascular Aortic Repair ("EVAR") of abdominal aortic aneurysms ("AAAs"), announces that yesterday a team of surgeons, led by Dr. Andrej Schmidt, Oberarzt (Senior Physician) Angiologie, Leipzig Park-Krankenhaus, successfully performed a live case demonstration of a challenging AAA repair using Aorfix™, the Company's flexible endovascular stent graft, to over 500 physicians at the 2014 Leipzig Interventional Course (LINC), Leipziger Messe, Leipzig, Germany.Prior to the live case Dr Schmidt demonstrated the Company's new simulation technology, developed in conjunction with Simbionix USA Corporation, which uses a patient CT scan to allow physicians to practice the procedure on a simulation of that patient's particular AAA anatomy ahead of the actual surgery. During the procedure, which was broadcast live from Park Hospital Leipzig, a panel of prominent vascular surgeons, interventional radiologists and interventional cardiologists, chaired by Professor Vicente Riambau, Professor and Chief of Vascular Surgery, Hospital Clinic of Barcelona, gave a series of presentations discussing their experiences of Aorfix in complex AAA anatomy.

[nod] 21/1/2014 03:01

Getting closer to the USLombard Medical Technologies', (LMMT) decision to list in the US is a clear response to the positive initial reaction to the launch of the Aorfix high angle stent. The commercial importance of the US market coupled with the existence of a defined peer group, including direct comparator Endologix, could provide a receptive market for the IPO. The US roll-out is progressing well and the case pipeline is building, while sales in the main European markets increased 9% in FY13. We have maintained our valuation at £119m.Lombard Medical ChartUS roll-out off to a solid startAorfix, the only FDA-approved stent graft for aortic neck angles over 60°, was launched formally in the US in November 2013 at the Veith Symposium for vascular surgeons. Lombard has a direct sales team in place, marketing Aorfix to c 300 high volume endovascular centres in the region. In the initial period, Lombard trained a total 244 surgeons. The roll-out is still in its early stages, but US sales already contributed to 38% Q413 sales growth and the patient pipeline is building well.European and rest of world trading environmentSales of Aorfix grew 25% to £3.9m, including 9% growth in the main European markets. UK sales recovered from last year on completion of the NHS restructuring of specialised centres. The strongest markets were Germany, where Lombard has a direct sales force, and Spain. Rest of world trading increased 28%. Total revenue was £4.5m, compared to our forecast of £5m, mainly due to slower than expected trading in the OEM business (which was divested in December).Nasdaq IPOLombard's intention to list in the US and to delist from UK AIM market should provide greater exposure to investors in Aorfix's key market (estimated at $700m), as well as additional liquidity for the shares. The company will invest the IPO proceeds to accelerate its commercialisation of Aorfix in the US. It will also invest in the product pipeline, including the development of a thoracic stent graft. The launch into Japan, the world's second-largest aortic stent market, is on track for 2014.Valuation: Held at £119mOur valuation is held at £119m (267p/share). We have adjusted our FY13 sales and expenses based on the trading update. A US listing could provide a boost for the shares in line with US peers; Endologix has a valuation of over $1.1bn (FY12 sales of $101m).

[philo124] 21/1/2014 00:21

It would appear so.

[nod] 20/1/2014 23:53

Current market cap at 83.7 so we are 42% undervalued

[philo124] 20/1/2014 16:24

Edison note out; their valuation maintained at 119 million. Pounds that is.

[nod] 09/1/2014 16:49

Nice. Up 11% #17 in the Top Gainers list

[skinny] 09/1/2014 13:12

Quite amazing on £80k shares traded.

[philo124] 09/1/2014 13:11

Still going!

[nod] 09/1/2014 09:54

Up 16p - it's not taking many buys to move this up quite sharply. I have a feeling this stock is tightly held. The de-listing from London may encourage a few to exit above 200p

[nod] 08/1/2014 19:04

5% a day will be good.A subdued reaction by the market. I think the move will be viewed positively by instis but there may be a few funds that are constrained by region.

[rayrac] 08/1/2014 08:37

No thank you!

[nod] 08/1/2014 08:27

Is the decision to de-list from London and move to Nasdaq designed to make a sale to a US company more straightforward?The reason is not an obvious one. They are currently expanding manufacturing in Didcot suggesting a long term commitment to UK manufacturing, yet de-listing from London.Are they simply disillusioned with the lack of interest from UK investors.I'm happy to move to Nasdaq - I suspect there will be more interest in LMT from US investors. It will also be good if the USD rises against the GBP.

[philo124] 08/1/2014 07:54

Canaccord 256p; 577p with 10% US penetration over 3 years.

[skinny] 08/1/2014 07:04

London, UK, 8 January, 2014 - Lombard Medical Technologies PLC (AIM: LMT), the specialist medical device company focused on Endovascular Aortic Repair ("EVAR") of abdominal aortic aneurysms ("AAAs"), today announces that it intends to submit a registration statement to the US Securities and Exchange Commission ("SEC") relating to a proposed initial public offering of ordinary shares and a listing on NASDAQ ("NASDAQ IPO").

Lombard Medical has appointed Jefferies LLC ("Jefferies") and Barclays Capital Inc. ("Barclays") as financial advisors in relation to the overall transaction, including the Share Exchange, and as joint bookrunners in connection with the proposed NASDAQ IPO.

To facilitate the NASDAQ IPO, a new Cayman Islands holding company will be created and existing shares in Lombard Medical will be exchanged for new shares in the holding company ("Share Exchange").

more...

[skinny] 08/1/2014 07:03

Trading Update
Aorfix™ commercial revenue grew 25% to £3.9m with revenue from the main EU markets growing 9%. Revenue from the Rest of World ("ROW") markets grew 28% and the US contributed to fourth quarter Aorfix commercial revenue growth of 38% following formal launch in November. In Europe, the Company experienced strong demand and revenue growth in Germany and Spain. Following consolidation of EVAR centers in the UK, which negatively impacted UK revenue in the first half of 2013, second half 2013 Aorfix revenue in the UK recovered and was flat compared to the same period the previous year. Total Company revenue grew by 14% to £4.5m, reflecting a decline in revenue of the recently divested OEM business in Scotland which fell by 27% compared to last year. As previously announced, this business was divested on 20 December 2013.

Aorfix was approved by the United States Food and Drug Administration ("US FDA") in February 2013 with a unique label indication for the treatment of patients with angulations at the neck of the aneurysm up to and including 90 degrees. The product was formally launched in the US, the largest EVAR market, at the 40th Annual VEITH Symposium, in New York in November. While Aorfix is still in the initial phase of the US launch, the product rollout is progressing well, with the number of US physicians trained to use the device standing at 244 at the year end. As previously disclosed, the Company's 20-person sales team is targeting around 300 high volume EVAR centers that perform more than half of the EVAR procedures in the US.

In Japan, the Company now anticipates regulatory approval for Aorfix during 2014. Our exclusive Japanese marketing partner, Medico's Hirata, remains in dialogue with the Pharmaceuticals and Medical Devices Agency (PMDA) to achieve this. Medico's Hirata is a leading supplier of medical device products in Japan, with the sales infrastructure to realize the potential of Aorfix in this growing market, which in 2013 was estimated to account for approximately $140m or 10% of the global EVAR market.

As previously announced, the Company is expanding its manufacturing facility in Didcot, Oxfordshire, to support increasing global demand for Aorfix. The expansion, which involves the construction of a new cleanroom and materials handling space, will add around 10,000 sq. ft. to the existing facility. The expansion project is expected to be completed by the end of the first quarter of 2014.

The global AAA market for EVAR devices is estimated to be approximately $1.4bn. The US market is estimated to be worth around half of the global market and is expected to grow at a compound annual growth rate in excess of 7% over the next 5 years, driven largely by the growth of the ageing population and patient screening programs. In addition, introduction of new technologies such as Aorfix, which allow more patients to received endovascular treatment of AAA disease, could potentially further expand the market.

The Company closed 2013 with cash of £24.8m and debt of £1.5m on its balance sheet.

NASDAQ IPO
As announced today in a separate press release, the Company intends to submit a registration statement to the US Securities and Exchange Commission ("SEC") relating to a proposed US initial public offering of ordinary shares and a listing on NASDAQ ("NASDAQ IPO").

To facilitate the NASDAQ IPO, a new Cayman Islands holding company will be created and existing shares in Lombard Medical will be exchanged for new shares in that holding company ("Share Exchange")

Commencement of the initial public offering is conditional upon completion of the SEC review process with respect to the registration statement and is subject to market conditions and other considerations. In connection with the NASDAQ IPO, Lombard Medical will also delist its ordinary shares from AIM, a market of the London Stock Exchange.

In the Share Exchange, existing shareholders will receive shares in the new Cayman Islands holding company in exchange for the shares they hold in Lombard Medical. These new shares will not be admitted to trading on AIM. Shareholders will need to consider their ability to hold and trade NASDAQ listed shares following the Share Exchange and the AIM delisting. Full details of the proposals will be set out in a circular to shareholders in due course.

Lombard Medical intends to use proceeds from the NASDAQ IPO to accelerate its commercialization strategy for Aorfix in the US with a particular focus on continuing to expand its direct sales force to accelerate penetration of the US AAA market. The Company will also continue to invest in developing new products to treat complex vascular disease, including a stent graft to treat aneurysms in the thoracic aorta.

This press release does not constitute an offer of any securities for sale.

-Ends-

[stable] 26/12/2013 18:38

No news for some time and the share has found a few big sellers, last trade xmas eve was 50 k at asking price, and recently there has been a few lumpy sales.
Let us hope the sellers are coming to an end and also that the new year will bring the news we are awaiting for from Japan and that we do get some news before the end of year results which may well not be until end March. I would like to hear before the results an update of cyurrent trading after the New York blast off.

My best wishes for a very happy and healthy new year to all long holders

[philo124] 20/11/2013 22:20

Fine with me.

[nod] 20/11/2013 21:14

Raymond Cohen was appointed as non-exec Chairman of LMT on 10 July 2013 to help LMT execute its strategy. What was interesting and a bit unusual was that John Rush the former Chairman of LMT for two years has stayed on as a non-exec director. This indicates Cohen was brought in for his very specific skills. To find a buyer and execute the sale probably.