Announcement • May 04
Imricor Medical Systems, Inc. has filed a Follow-on Equity Offering in the amount of AUD 60.000001 million. Imricor Medical Systems, Inc. has filed a Follow-on Equity Offering in the amount of AUD 60.000001 million.
Security Name: CHESS Depositary Interests
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 32,432,433
Price\Range: AUD 1.85
Discount Per Security: AUD 0.074
Transaction Features: Subsequent Direct Listing Announcement • Apr 25
Imricor Medical Systems, Inc. Launches Northstar Mapping System in United States Imricor Medical Systems, Inc. announced the U.S. commercial launch of its NorthStar Mapping System. As the first and only cardiac mapping and guidance system designed specifically to harness the power of magnetic resonance (MR) imaging to see the heart throughout a minimally-invasive interventional procedure, NorthStar brings the field of interventional MR (iMR) to life. NorthStar provides physicians with an entirely new software environment through which they can visualize the heart’s structure and tissue characteristics with MR imaging during an interventional procedure, unlike anything they’ve used before and without requiring a single X-ray. For decades, interventional procedures have relied on X-ray fluoroscopy for guidance, which offers limited soft-tissue visualization while exposing patients and clinical staff to dangerous ionizing radiation. Sensor-based interventional tools and mapping systems have been developed over the years, for use with X-ray fluoroscopy, to provide some context of the heart’s geometry in an attempt to overcome what X-ray imaging cannot provide. The NorthStar Mapping System fundamentally reframes what is possible by leveraging the full imaging power of MR to see the heart, to see the tissue characteristics of the heart, and to see the interventional tools within the heart, all throughout an entire procedure. NorthStar essentially transforms an MR system from being a “still camera” that takes pictures for someone to look at later into a “video camera” that is viewed and manipulated in real time during a procedure, and this is technology never before delivered to the clinical market. Imricor will be showcasing the NorthStar Mapping System at the Heart Rhythm Society (HRS) Annual Scientific Sessions, beginning April 24 in Chicago, Illinois. Attendees are encouraged to visit the Imricor booth to speak with the team and see firsthand how NorthStar is redefining cardiac mapping in the iMR suite. Announcement • Mar 27
Imricor Medical Systems, Inc., Annual General Meeting, May 08, 2026 Imricor Medical Systems, Inc., Annual General Meeting, May 08, 2026. Announcement • Feb 17
Imricor Medical Systems, Inc. to Report Fiscal Year 2025 Results on Feb 25, 2026 Imricor Medical Systems, Inc. announced that they will report fiscal year 2025 results on Feb 25, 2026 Announcement • Nov 07
Imricor Medical Systems, Inc. Together with Amsterdam University Medical Centre Announces the Successful Completion of the First Ischemic Ventricular Tachycardia Ablation Ever Performed Under Real-Time MRI Guidance in an iCMR Lab Imricor Medical Systems, Inc. together with Amsterdam University Medical Centre announced the successful completion of the first Ischemic Ventricular Tachycardia (VT) ablation ever performed under real-time MRI guidance in an iCMR lab. The Amsterdam UMC team, shown here, performed the VT ablation procedure following previous experiences performing atrial flutter and premature ventricular complex (PVC) ablation procedures guided by real-time MRI and Imricor's NorthStar Mapping System. Reported Earnings • Aug 27
First half 2025 earnings released: US$0.044 loss per share (vs US$0.036 loss in 1H 2024) First half 2025 results: US$0.044 loss per share (further deteriorated from US$0.036 loss in 1H 2024). Net loss: US$13.1m (loss widened 92% from 1H 2024). Revenue is forecast to grow 62% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Medical Equipment industry in Australia. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 58% per year, which means it is well ahead of earnings. Breakeven Date Change • Aug 18
No longer forecast to breakeven The 2 analysts covering Imricor Medical Systems no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$14.7m in 2027. New consensus forecast suggests the company will make a loss of US$1.70m in 2027. Announcement • Aug 15
Imricor Medical Systems, Inc. to Report First Half, 2025 Results on Aug 26, 2025 Imricor Medical Systems, Inc. announced that they will report first half, 2025 results on Aug 26, 2025 Announcement • Apr 11
Imricor Medical Systems, Inc. Commences the Visabl-VT Clinical Trial Imricor Medical Systems, Inc. announced that it has commenced the VISABL-VT clinical trial after completing the first-in-human ventricular ablation guided by real-time interventional cardiac magnetic resonance (iCMR) with the Company's NorthStar Mapping System. The procedure was successfully performed by the team at Amsterdam University Medical Centre (AUMC), ranked in 2025 by Newsweek as the best hospital in The Netherlands, and in the top 35 worldwide. The procedure marked several world firsts. It was the first ventricular ablation to be guided real-time MRI, and it was the first left-sided ablation to be performed under real-time MRI guidance. The patient was treated for right-sided and left-sided premature ventricular complexes (PVCs). Details about the medical procedure and experience will be discussed in future press releases and publications led by the AUMC team. Announcement • Mar 20
Imricor Medical Systems, Inc. has completed a Follow-on Equity Offering in the amount of AUD 70.000003 million. Imricor Medical Systems, Inc. has completed a Follow-on Equity Offering in the amount of AUD 70.000003 million.
Security Name: CHESS Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 49,645,392
Price\Range: AUD 1.41
Discount Per Security: AUD 0.0564
Transaction Features: Subsequent Direct Listing Announcement • Feb 17
Imricor Medical Systems, Inc. to Report Fiscal Year 2024 Results on Feb 27, 2025 Imricor Medical Systems, Inc. announced that they will report fiscal year 2024 results on Feb 27, 2025 New Risk • Nov 13
New major risk - Revenue and earnings growth Earnings have declined by 13% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$6.4m). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Revenue is less than US$1m (US$824k revenue). Announcement • Aug 09
Imricor Medical Systems, Inc. to Report First Half, 2024 Results on Aug 28, 2024 Imricor Medical Systems, Inc. announced that they will report first half, 2024 results on Aug 28, 2024 New Risk • Aug 08
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$8.8m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m (US$616k revenue). Minor Risk Market cap is less than US$100m (AU$133.8m market cap, or US$87.7m). New Risk • Jul 28
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 63% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$8.8m). Earnings have declined by 18% per year over the past 5 years. Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m (US$616k revenue). Minor Risk Market cap is less than US$100m (AU$146.4m market cap, or US$95.9m). New Risk • Jul 02
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$8.8m). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m (US$616k revenue). Minor Risks Shareholders have been diluted in the past year (34% increase in shares outstanding). Market cap is less than US$100m (AU$105.5m market cap, or US$70.2m). Recent Insider Transactions • May 09
Independent Non-Executive Director recently bought AU$73k worth of stock On the 7th of May, Peter McGregor bought around 100k shares on-market at roughly AU$0.73 per share. This transaction amounted to 15% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Apr 23
Imricor Medical Systems, Inc. to Report Q1, 2024 Results on Apr 30, 2024 Imricor Medical Systems, Inc. announced that they will report Q1, 2024 results on Apr 30, 2024 Announcement • Apr 09
Imricor Medical Systems, Inc., Annual General Meeting, May 15, 2024 Imricor Medical Systems, Inc., Annual General Meeting, May 15, 2024, at 08:00 E. Australia Standard Time. Agenda: To consider Election of Class II Director Ms Anita Messal; To consider Approval of the 2019 Equity Incentive Plan and increase in reserved Shares; To consider Grant of Options to Mr Steve Wedan, Chief Executive Officer of the Company; to consider Grant of Restricted Stock Award to Mr Peter McGregor, Non-Executive Director of the Company; to consider Grant of Restricted Stock Award to Ms Anita Messal, Non-Executive Director of the Company; to consider Ratification of the appointment of BDO USA, P.C. as independent registered public accounting firm. Announcement • Apr 02
Imricor Medical Systems, Inc. has completed a Follow-on Equity Offering in the amount of AUD 15.135297 million. Imricor Medical Systems, Inc. has completed a Follow-on Equity Offering in the amount of AUD 15.135297 million.
Security Name: Chess Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 7,344,445
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Chess Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 6,724,951
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Chess Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 3,766,666
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Chess Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 1,419,069
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Chess Depository Interest
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 14,378,862
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Transaction Features: Rights Offering; Subsequent Direct Listing Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Non-Executive Director Anita Messal was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Mar 04
New major risk - Revenue and earnings growth Earnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$8.8m). Earnings have declined by 18% per year over the past 5 years. Revenue is less than US$1m (US$616k revenue). Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (AU$88.4m market cap, or US$57.8m). Reported Earnings • Mar 01
Full year 2023 earnings released: US$0.14 loss per share (vs US$0.12 loss in FY 2022) Full year 2023 results: US$0.14 loss per share (further deteriorated from US$0.12 loss in FY 2022). Net loss: US$22.6m (loss widened 30% from FY 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Announcement • Feb 27
Imricor Medical Systems, Inc. to Report Fiscal Year 2023 Results on Feb 29, 2024 Imricor Medical Systems, Inc. announced that they will report fiscal year 2023 results on Feb 29, 2024 New Risk • Feb 12
New major risk - Revenue and earnings growth Earnings have declined by 19% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$857k). Earnings have declined by 19% per year over the past 5 years. Revenue is less than US$1m (US$477k revenue). Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (AU$74.3m market cap, or US$48.5m). Announcement • Feb 02
Imricor Medical Systems, Inc. has filed a Follow-on Equity Offering in the amount of AUD 15 million. Imricor Medical Systems, Inc. has filed a Follow-on Equity Offering in the amount of AUD 15 million.
Security Name: Ordinary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 7,344,445
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Ordinary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 22,222,222
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Security Name: Ordinary Shares
Security Type: Depositary Receipt (Common Stock)
Securities Offered: 3,766,666
Price\Range: AUD 0.45
Discount Per Security: AUD 0.0225
Transaction Features: Rights Offering Reported Earnings • Aug 25
First half 2023 earnings released: US$0.061 loss per share (vs US$0.068 loss in 1H 2022) First half 2023 results: US$0.061 loss per share (improved from US$0.068 loss in 1H 2022). Net loss: US$9.22m (loss narrowed 5.7% from 1H 2022). Revenue is forecast to grow 73% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Medical Equipment industry in Australia. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. New Risk • Aug 25
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings are forecast to decline by an average of 1.3% per year for the foreseeable future. Revenue is less than US$1m (US$816k revenue). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$14m net loss in 3 years). Shareholders have been diluted in the past year (11% increase in shares outstanding). Market cap is less than US$100m (AU$102.8m market cap, or US$65.9m). Announcement • Aug 17
Imricor Medical Systems, Inc. announced that it has received AUD 2.861607 million in funding Imricor Medical Systems, Inc. announced a private placement of 2,564,103 shares of Class A Common Stock at AUD 0.61 per share and 2,127,056 CHESS Depositary Interests at AUD 0.61 per CDI for the aggregate total gross proceeds of AUD 2,861,607 on August 15, 2023. The price per share or CDI was determined by the VWAP of the company’s CDIs over the five days prior to closing, with no discount applied. The Class A Common Stock issued to US investors, and also upon exercise of the warrant, are subject to a 12-month holding period. The transaction included participation from US investors and New Zealand investors. US investors also received 10-year warrants to purchase a total of 384,616
additional shares of Class A Common Stock and New Zealand investors also received 10-year warrants to purchase a total of 319,068 additional CDIs at AUD 1 per CDI. Announcement • Aug 15
Imricor Medical Systems, Inc. to Report First Half, 2023 Results on Aug 23, 2023 Imricor Medical Systems, Inc. announced that they will report first half, 2023 results on Aug 23, 2023 Announcement • Jul 18
Imricor Medical Systems, Inc. announced that it has received AUD 1.457143 million in funding Imricor Medical Systems, Inc. announced a private placement of 2,857,143 Class A common shares at a price of AUD 0.51 per share and 10-year warrant to purchase an additional 428,571 shares at an exercise price of AUD 0.87 per share for the gross proceeds of AUD 1.457143 million on July 17, 2023. The transaction will include participation from new investor HR Global Investments LLC. The shares are subject to a 12-month holding period. The shares may be converted to CDIs and there was no fee paid by the company to HR Global Investments in connection with the transaction. New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-US$17m free cash flow). Earnings have declined by 24% per year over the past 5 years. Revenue is less than US$1m (US$816k revenue). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (6.0% increase in shares outstanding). Market cap is less than US$100m (AU$41.0m market cap, or US$27.7m). Recent Insider Transactions • Mar 14
Key Executive recently bought AU$195k worth of stock On the 10th of March, Mark Tibbles bought around 574k shares on-market at roughly AU$0.34 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Reported Earnings • Feb 24
Full year 2022 earnings released Full year 2022 results: Net loss: US$17.4m (loss narrowed 12% from FY 2021). Revenue is forecast to grow 88% p.a. on average during the next 3 years, compared to a 9.1% growth forecast for the Medical Equipment industry in Australia. Announcement • Feb 08
Imricor Medical Systems, Inc. to Report Fiscal Year 2022 Results on Feb 22, 2023 Imricor Medical Systems, Inc. announced that they will report fiscal year 2022 results on Feb 22, 2023 Announcement • Jan 24
Imricor Medical Systems, Inc. Receives IDE Approval from US FDA Imricor Medical Systems, Inc. announced that the US Food and Drug Administration (FDA) has approved the Company's application for an Investigational Device Exception (IDE) to initiate a clinical trial in the United States. The Company applied for an IDE to commence the "Vision-MR Ablation of Atrial FLutter" or VISABL-ALF clinical trial. VISABL-AFL is a prospective, single-arm, multi-centre global investigational study of the safety and efficacy of type I atrial flutter ablation procedures performed with the Vision-MR Ablation Catheter (second generation) and Osypka HAT 500 RF generator and irrigation pump. The study will include sites in the US and Europe, with an enrolment cap of 50% of the total enrolment population coming from outside the US. The sample size is 91 patients, with an interim analysis after 76 patients have achieved the 7-day follow-up. Final follow-up is 3 months. Institutional review board (IRB) approval is required prior to commencing the trial at each site. The Company expects to begin enrolling patients in study around mid-year. Breakeven Date Change • Dec 31
Forecast to breakeven in 2025 The analyst covering Imricor Medical Systems expects the company to break even for the first time. New forecast suggests the company will make a profit of US$2.90m in 2025. Average annual earnings growth of 36% is required to achieve expected profit on schedule. Recent Insider Transactions • Nov 16
President recently bought AU$76k worth of stock On the 10th of November, Steve Wedan bought around 263k shares on-market at roughly AU$0.29 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Steve's only on-market trade for the last 12 months. Recent Insider Transactions • Nov 12
President recently bought AU$76k worth of stock On the 10th of November, Steve Wedan bought around 263k shares on-market at roughly AU$0.29 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Steve's only on-market trade for the last 12 months. Reported Earnings • Sep 02
First half 2022 earnings released: US$0.068 loss per share (vs US$0.079 loss in 1H 2021) First half 2022 results: US$0.068 loss per share (up from US$0.079 loss in 1H 2021). Net loss: US$9.78m (loss narrowed 1.9% from 1H 2021). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Reported Earnings • Feb 26
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$0.15 loss per share (down from US$0.11 loss in FY 2020). Net loss: US$19.7m (loss widened 59% from FY 2020). Revenue missed analyst estimates by 23%. Over the next year, revenue is forecast to grow 518%, compared to a 16% growth forecast for the industry in Australia. Reported Earnings • Aug 28
First half 2021 earnings released: US$0.079 loss per share (vs US$0.056 loss in 1H 2020) First half 2021 results: Net loss: US$9.96m (loss widened 72% from 1H 2020). Breakeven Date Change • Jul 31
No longer forecast to breakeven The 2 analysts covering Imricor Medical Systems no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$1.05m in 2023. New consensus forecast suggests the company will make a loss of US$350.0k in 2023. Executive Departure • Mar 04
Non-Executive Director has left the company On the 1st of March, Doris Engibous' tenure as Non-Executive Director ended after 1.9 years in the role. We don't have any record of a personal shareholding under Doris' name. Doris is the only executive to leave the company over the last 12 months. Reported Earnings • Feb 26
Full year 2020 earnings released: US$0.11 loss per share (vs US$0.22 loss in FY 2019) Full year 2020 results: Net loss: US$12.4m (loss narrowed 6.4% from FY 2019). Analyst Estimate Surprise Post Earnings • Feb 26
Revenue beats expectations Revenue exceeded analyst estimates by 0.3%. Over the next year, revenue is forecast to grow 1,125%, compared to a 43% growth forecast for the Medical Equipment industry in Australia. Is New 90 Day High Low • Feb 18
New 90-day low: AU$2.17 The company is down 14% from its price of AU$2.52 on 17 November 2020. The Australian market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 8.0% over the same period.