- Medical imaging company ImpediMed (IPD) has received its first batch of orders from last week’s U.S. purchasing agreement
- The 16 SOZO units ordered make up the first part of a Lymphoedema Prevention Program in the States
- Roughly 1200 physicians at 470 cancer treatment locations across the U.S. will gain access to the SOZO device under the program
- The device is used to quickly and effectively diagnose lymphoedema for early detection and treatment
- Generally speaking, lymphoedema is the swelling of arms or legs that often occurs as a result of cancer treatment
- Shares in ImpediMed are in a trading halt until Friday, April 3, and last traded for four cents each
Medical imaging company ImpediMed (IPD) has received its first batch of orders from its recently-announced U.S. purchasing agreement.
The deal, which was announced last week, will see ImpediMed give 1200 physicians at 470 cancer treatment locations across the States access to the company’s SOZO Digital Health Platform to help assess and prevent lymphoedema.
“The initial order of 16 SOZO units will establish a comprehensive Lymphoedema Prevention Program in key centres from this nationally recognized oncology care network,” ImpediMed Managing Director and CEO Richard Carreon said.
“We believe these centres will develop the model from which we will jointly expand our program nationally,” he said.
Generally speaking, lymphoedema is severe swelling the in the body brought about by a failure of the lymphatic system. Most often, the swelling occurs in the arms of legs.
Lymphoedema is most commonly caused by cancer treatments and is currently incurable. However, early detection means treatment can begin before any swelling has even occurred, making life much easier and comfortable for sufferers.
This is where the SOZO device comes in. The product is a non-invasive bioimpedance spectroscopy (BIS) device. Essentially, it can measure the fluid status in a patient’s body and assess secondary lymphoedema in less than 30 seconds.
The device was cleared for medical use by the U.S. Food and Drug Administration (FDA) in November 2019. Today, the initial order of 16 units is the first step in getting the SOZO device to treat over one million U.S. patients per year.
According to ImpediMed, one in three at-risk cancer survivors will develop secondary lymphoedema, which coats the U.S. healthcare system roughly $7 billion every year. For investors, this means ImpediMed has a strong market for the SOZO product.
However, it’s not certain yet how shareholders will respond to today’s news as ImpediMed shares are in a trading halt until Friday.
Shares in the company last traded for four cents each on March 27.