Banner
Home

Health Care Regulation Debate Rekindled Print E-mail
Written by The News Service of FL via Health News Florida   
Friday, 20 January 2017 18:42

Florida lawmakers could be preparing for a renewed debate about easing regulations in the state's health-care industry.

A House panel last week began considering the "certificate of need" process - a long-controversial system that requires state regulatory approvals before facilities such as hospitals and nursing homes can be built. Also, bills have been filed in the House and Senate that address issues such as the regulation of ambulatory surgical centers and clearing the way for "direct primary care" agreements between doctors and patients.

The issues are not new: House leaders in recent years have repeatedly sought to scale back certificate-of-need laws and make other regulatory changes. The House and Senate, however, have not agreed on the issues, which have been closely watched by lobbyists for sometimes-competing parts of the health-care industry.

House leaders have backed eliminating the certificate-of-need process for hospitals, arguing that such a free-market approach would improve access to care.

Read More>> 
 
Drugmakers Manipulate Orphan Drug Rules To Create Prized Monopolies Print E-mail
Written by Sarah Jane Tribble and Sydney Lupkin | KHN   
Tuesday, 17 January 2017 19:03

khn logo black More than 30 years ago, Congress overwhelmingly passed a landmark health bill aimed at motivating pharmaceutical companies to develop new drugs for people whose rare diseases had been ignored.

By the drugmakers' calculations, the markets for such diseases weren't big enough to bother with.

But lucrative financial incentives created by the Orphan Drug Act signed into law by President Ronald Reagan in 1983 succeeded far beyond anyone's expectations. More than 200 companies have brought almost 450 "orphan drugs" to market since the law took effect.

Read More

Last Updated on Tuesday, 17 January 2017 19:06
 
'We trained for this,' say doctors who treated shooting victims Print E-mail
Written by FHI's Week in Review   
Monday, 09 January 2017 18:55

George Richards & Susan Miller Degnan reporting for the Miami Herald on 1/6/17:

It was a somber scene at Fort Lauderdale's Broward Health Medical Center following the mass shooting at Fort Lauderdale-Hollywood International Airport on Friday afternoon, as dozens of reporters and camera crews crowded the entryways to the trauma center.

Victims of the shooting were brought to the hospital soon after the attack occurred at the Terminal 2 baggage claim...

Dr. Ralph Guarneri, the trauma surgeon on duty, said five gunshot victims came into the trauma center and two were undergoing surgery. All five, Guarneri said, were in stable condition.

Read more in the current issue of Week in Review>> http://conta.cc/2iVItbh
 
Sponsor Showcase Print E-mail
Written by Sponsor   
Tuesday, 10 January 2017 00:00
 
bdo-ftl-florida-health-industry-ad-9-16 final
Last Updated on Tuesday, 10 January 2017 20:19
 

GlobeNewswire: Florida Feed

GlobeNewswire: Latest search results from Industry: (Health Care) AND Language: (English) AND State/Province: (Florida)
  • PositiveID’s Thermomedics Signs Distribution Agreement for its Caregiver Non-Contact Thermometer with MedPro Associates

    DELRAY BEACH, Fla., Jan. 23, 2017 (GLOBE NEWSWIRE) -- PositiveID Corporation (“PositiveID” or “Company”) (OTCQB:PSID), a life sciences company focused on detection and diagnostics, announced today that its Thermomedics Inc. subsidiary (“Thermomedics”), which markets the FDA-cleared Caregiver® non-contact thermometer, has entered into a new distribution agreement with MedPro Associates. MedPro, a national contracted sales firm, will market Caregiver primarily to the alternate site and long-term care markets, along with targeted acute care facilities.

    Caregiver, which is FDA cleared for clinical use, is a professional grade, infrared thermometer for measurement of forehead temperature in adults, children, and infants, without contact. It delivers an oral-equivalent temperature directly from the forehead in one to two seconds. Caregiver requires minimal training and is proven as accurate as other methods of clinical thermometry, which include predictive oral/rectal/axillary electronic, infrared tympanic, temporal artery contact scanner, etc. Other temperature monitoring devices may require protective probe covers, intensive technique concentration, which make them prone to mistaken placement or dwell time, and may require replacement metal probes, cords, or other parts.

    Since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers (as much as $0.05 to $0.10 per temperature), storage space, and waste disposal costs. It is estimated that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone.

    “MedPro has a long-standing reputation of delivering results due to its strong relationships throughout the healthcare industry over the last decade,” stated William J. Caragol, Chairman and CEO of PositiveID. “We believe that adding MedPro to our distributor portfolio will enable us to increase sales and build a strong pipeline of opportunities for 2017.”

    About MedPro
    MedPro is a national contracted sales firm specializing in the healthcare industry. MedPro represents leading manufacturers who sell their products into clinics, surgery centers, dialysis centers, school health, longterm care, physician offices, homecare, and the federal government, along with acute care facilities. A formula that combines experience, knowledge, proven results and most importantly, strong relationships, make MedPro an industry leader in contract sales for medical manufacturers.

    About PositiveID Corporation
    PositiveID Corporation is a life sciences tools and diagnostics company with an extensive patent portfolio. PositiveID develops biological detection and diagnostics systems, specializing in the development of microfluidic systems for the automated preparation of and performance of biological assays. PositiveID is also a leader in the mobile technology vehicle market, with a focus on the laboratory market and homeland security. For more information on PositiveID, please visit http://www.psidcorp.com, or connect with PositiveID on Twitter, Facebook or LinkedIn.

    Statements about PositiveID's future expectations, including the likelihood that MedPro will market Caregiver primarily to the alternate site and long-term care markets, along with targeted acute care facilities; the likelihood that since there is no skin contact and Caregiver does not require probe cover supplies, it reduces the risk of cross-contamination, which is an increasing concern, and saves healthcare facilities the cost of covers (as much as $0.05 to $0.10 per temperature), storage space, and waste disposal costs; the likelihood that Caregiver can offer savings of $250 or more per year per device in probe cover supplies alone; the likelihood that adding MedPro to the Company’s distributor portfolio will enable it to increase sales and build a strong pipeline of opportunities for 2017; constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include, without limitation, the Company’s ability to target the specialty vehicle market; the Company’s ability to turn qualified pipeline opportunities into purchase orders; the possibility that a purchase order could be canceled; the Company’s ability to keep existing customers and attract new customers; as well as other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on April 12, 2016, and 10-Qs filed on November 18, 2016, August 12, 2016, and May 16, 2016, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.

    CONTACT: Contacts:
    PositiveID Corporation
    Allison Tomek
    (561) 805-8044
    atomek@psidcorp.com
    
    RedChip Companies
    Jon Cunningham
    (407) 644-4256
    jon@redchip.com
  • PetMed Express D/B/A 1-800-PetMeds Announces Its Third Quarter Financial Results and Its $0.19 Per Share Quarterly Dividend

    Third Quarter New Order Sales Increased 4.4%

    Third Quarter Sales Increased 3.8%

    DELRAY BEACH, Fla., Jan. 23, 2017 (GLOBE NEWSWIRE) -- PetMed Express, Inc. (NASDAQ:PETS) today announced its financial results for the quarter ended December 31, 2016.  Net sales for the quarter ended December 31, 2016 were $52.9 million, compared to $50.9 million for the quarter ended December 31, 2015, an increase of 3.8%.  Net sales for the nine months ended December 31, 2016 were $186.1 million, compared to $179.3 million for the nine months ended December 31, 2015, an increase of 3.8%.  The increase in sales for the quarter ended December 31, 2016 can be attributed to increased new order sales, which increased 4.4%, and reorder sales, which increased 3.7%.  Net income for the quarter ended December 31, 2016 was $4.8 million, or $0.24 diluted per share, compared to net income of $4.9 million, or $0.24 diluted per share, for the quarter ended December 31, 2015, a 1.4% decrease to net income.  Net income for the nine months ended December 31, 2016 was $16.3 million, or $0.80 diluted per share, compared to net income of $15.1 million, or $0.75 diluted per share, for the nine months ended December 31, 2015, a 7.7% increase to net income.  Online sales for the quarter ended December 31, 2016 increased 5.6% to $43.8 million from $41.5 million for the same period the prior year. The Company’s online sales for the quarter ended December 31, 2016 were approximately 83% of all sales, compared to 81% for the same quarter the prior year. 

    Menderes Akdag, CEO and President, commented: “We are pleased to announce that the Company has officially moved to Delray Beach, having completed this transition in December 2016.  Despite the transition, we continued to see sales growth in the December quarter where we saw increases in both new order and reorder sales.  Our average order size increased to $81 for the quarter ended December 31, 2016, compared to $78 for the same quarter in the prior year.  We were also encouraged with our advertising efficiency, as our new customer acquisition costs were reduced to $32 for the quarter ended December 31, 2016 compared to $41 for the same quarter in the prior year.  Cash flow from operations was $31.6 million for the nine months ended December 31, 2016, compared to $22.6 million for the nine months ended December 31, 2015, with the majority of the increase due to a reduction in inventory.”

    The Board of Directors declared a quarterly dividend of $0.19 per share on the Company’s common stock.  The dividend will be payable on February 17, 2017, to shareholders of record at the close of business on February 6, 2017.  The Company intends to continue to pay regular quarterly dividends; however, the declaration and payment of future dividends is discretionary and will be subject to a determination by the Board of Directors each quarter following its review of the Company’s financial performance.

    This morning at 8:30 A.M. Eastern Time, Mr. Akdag will host a conference call to review the quarter’s financial results.  To access the call, which is open to the public, please dial (888) 455-1758 (toll free) or (203) 827-7025.  Callers will be required to supply PETMEDS as the passcode.  For those unable to participate in the live event, the call will be available for replay from 10:00 A.M. on January 23, 2017 until February 6, 2017 at 11:59 P.M.  To access the replay, call (888) 568-0521 (toll free) or (402) 998-1495 and enter passcode 5500.

    Founded in 1996, PetMed Express is America’s Largest Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs and cats at competitive prices direct to the consumer through its 1-800-PetMeds toll free number and on the Internet through its website at www.1800petmeds.com.

    This press release may contain “forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risks and uncertainties, including the Company’s ability to meet the objectives included in its business plan.  Important factors that could cause results to differ materially from those indicated by such “forward-looking” statements are set forth in Management’s Discussion and Analysis of Financial Condition and Results of Operations in the PetMed Express Annual Report on Form 10-K for the year ended March 31, 2016.  The Company’s future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-Q and its Annual Report on Form 10-K.

    For investment relations contact PetMed Express, Inc., Bruce S. Rosenbloom, CFO, 561-526-4444.

     
    PETMED EXPRESS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (In thousands, except for per share data)
           
      December 31,  March 31, 
      2016  2016 
      (Unaudited)    
    ASSETS      
           
    Current assets:      
    Cash and cash equivalents$47,904 $37,639 
    Accounts receivable, less allowance for doubtful      
    accounts of $12 and $13, respectively 1,544  1,724 
    Inventories - finished goods 14,925  25,586 
    Prepaid expenses and other current assets 2,441  2,435 
    Prepaid income taxes 875  243 
    Total current assets 67,689  67,627 
           
    Noncurrent assets:      
    Property and equipment, net 29,071  20,929 
    Intangible assets 860  860 
    Deferred tax assets -  863 
    Total noncurrent assets 29,931  22,652 
           
    Total assets$97,620 $90,279 
           
    LIABILITIES AND SHAREHOLDERS' EQUITY      
           
    Current liabilities:      
    Accounts payable$5,391 $5,004 
    Accrued expenses and other current liabilities 2,543  2,080 
    Total current liabilities 7,934  7,084 
           
    Deferred tax liabilities 301  - 
           
    Total liabilities 8,235  7,084 
           
    Commitments and contingencies      
           
    Shareholders' equity:      
    Preferred stock, $.001 par value, 5,000 shares authorized;      
    3 convertible shares issued and outstanding with a      
    liquidation preference of $4 per share 9  9 
    Common stock, $.001 par value, 40,000 shares authorized;      
    20,527 and 20,447 shares issued and outstanding, respectively 21  20 
    Additional paid-in capital 6,430  4,871 
    Retained earnings 82,925  78,295 
           
    Total shareholders' equity 89,385  83,195 
           
    Total liabilities and shareholders' equity$97,620 $90,279 
           


     PETMED EXPRESS, INC. AND SUBSIDIARIES 
     CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 
     (In thousands, except for per share amounts) (Unaudited) 
               
       Three Months Ended   Nine Months Ended 
       December 31,   December 31, 
      2016  2015  2016  2015 
               
    Sales$52,866 $50,933 $186,144 $179,292 
    Cost of sales 36,223  34,179  128,985  120,659 
               
    Gross profit 16,643  16,754  57,159  58,633 
               
    Operating expenses:          
    General and administrative 5,361  4,977  17,206  16,164 
    Advertising 3,170  3,988  13,312  18,122 
    Depreciation 457  167  855  544 
    Total operating expenses 8,988  9,132  31,373  34,830 
               
    Income from operations 7,655  7,622  25,786  23,803 
               
    Other income:          
    Interest income, net 36  55  96  160 
    Other, net 130  (4) 206  (12)
    Total other income 166  51  302  148 
               
    Income before provision for income taxes 7,821  7,673  26,088  23,951 
               
    Provision for income taxes 2,998  2,783  9,772  8,802 
               
    Net income$4,823 $4,890 $16,316 $15,149 
               
    Net change in unrealized loss on short          
    term investments -  (14) -  (33)
               
    Comprehensive income$4,823 $4,876 $16,316 $15,116 
               
    Net income per common share:          
    Basic$0.24 $0.24 $0.81 $0.75 
    Diluted$0.24 $0.24 $0.80 $0.75 
               
    Weighted average number of common shares outstanding:          
    Basic 20,253  20,145  20,223  20,115 
    Diluted 20,408  20,251  20,373  20,232 
               
    Cash dividends declared per common share$0.19 $0.18 $0.57 $0.54 
               


    PETMED EXPRESS, INC. AND SUBSIDIARIES 
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
     (In thousands) (Unaudited)  
      
        Nine Months Ended  
        December 31,  
       2016  2015  
    Cash flows from operating activities:      
    Net income $16,316 $15,149  
    Adjustments to reconcile net income to net cash      
    provided by operating activities:      
    Depreciation  855  544  
    Share based compensation  1,444  1,189  
    Deferred income taxes  1,164  (109) 
    Bad debt expense  368  243  
    (Increase) decrease in operating assets      
    and increase (decrease) in liabilities:      
    Accounts receivable  (188) 323  
    Inventories - finished goods  10,661  6,207  
    Prepaid income taxes  (632) (334) 
    Prepaid expenses and other current assets  857  (895) 
    Accounts payable  387  212  
    Income taxes payable  -  (50) 
    Accrued expenses and other current liabilities  410  156  
    Net cash provided by operating activities  31,642  22,635  
           
    Cash flows from investing activities:      
    Net change in investments  -  (50) 
    Purchases of property and equipment  (9,860) (177) 
    Net cash used in investing activities  (9,860) (227) 
           
    Cash flows from financing activities:      
    Dividends paid  (11,632) (10,984) 
    Tax adjustment related to restricted stock  115  92  
    Net cash used in financing activities  (11,517) (10,892) 
           
    Net increase in cash and cash equivalents  10,265  11,516  
    Cash and cash equivalents, at beginning of period  37,639  35,613  
           
    Cash and cash equivalents, at end of period $47,904 $47,129  
           
    Supplemental disclosure of cash flow information:      
           
    Cash paid for income taxes $9,246 $9,203  
           
    Prepaid property and equipment in current assets $863 $-  
           
    Dividends payable in accrued expenses $196 $185  
      
  • IRADIMED CORPORATION Announces 2017 Annual and First Quarter Financial Guidance
    • Announces Preliminary Full Year and Fourth Quarter 2016 Revenue
    • Announces Fourth Quarter 2016 Financial Results Conference Call Date

    WINTER SPRINGS, Fla., Jan. 18, 2017 (GLOBE NEWSWIRE) -- IRADIMED CORPORATION (NASDAQ:IRMD), the only known provider of non-magnetic intravenous (IV) infusion pump systems that are designed to be safe for use during magnetic resonance imaging (MRI) procedures, today announced its financial guidance for the full year and first quarter 2017.

    For the full year 2017, the Company expects to report revenue of $23.9 million to $24.3 million, GAAP diluted earnings per share of $0.07 to $0.08 and non-GAAP diluted earnings per share of $0.14 to $0.18.

    For the first quarter 2017, the Company expects to report revenue of $5.2 million to $5.3 million, GAAP diluted earnings per share of $(0.01) to $(0.02) and non-GAAP diluted earnings per share of $0.00 to $0.01. We expect that approximately $0.3 million of our first quarter 2017 revenue will come from backlog, compared to approximately $3.2 million of our first quarter 2016 revenue that came from backlog.

    The Company also announced that it expects to report revenue of approximately $32.6 million for the full year 2016 and $6.1 million for the fourth quarter 2016. We expect that approximately $12.5 million and $1.3 million of our full year and fourth quarter 2016 revenue, respectively, came from backlog. At December 31, 2016, the Company had approximately $1.4 million of backlog remaining and expects that backlog will approximate this level throughout 2017.

    “In December, we achieved an important milestone in the Company’s plans by making the first shipments of our new MRI compatible patient vital signs monitoring system to key European distributors. Interest in our MRI compatible IV pump system remains strong, although we continue to experience difficulty in converting this interest into confirmed purchase orders. We are currently highly focused on enhancing the abilities of our domestic sales team to handle the longer and more intricate selling process the multi-department/multi-pump sale requires,” said Roger Susi, President and Chief Executive Officer of the Company.

    The Company plans to release its 2016 fourth quarter results before the market opens on February 6, 2017.

    The Company’s non-GAAP earnings per share guidance excludes stock-based compensation expense, net of tax, which the Company expects to be approximately $1.3 million and $0.3 million for the full year and first quarter 2017, respectively.

    Use of non-GAAP Financial Measures

    This release contains financial guidance that excludes stock-based compensation expense, net of tax. Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allow for meaningful comparisons between our operating results from period to period. This non-GAAP financial measure is an important tool for financial and operational decision making and for evaluating our operating results.  This non-GAAP financial measure should not be considered in isolation or as a substitute for a measure of the Company’s operating performance or liquidity prepared in accordance with U.S. GAAP and is not indicative of net income or cash provided by operating activities.

    About IRADIMED CORPORATION

    IRADIMED CORPORATION is a leader in the development of MRI compatible medical devices. IRADIMED is the only known provider of non-magnetic intravenous (IV) infusion pump systems that are specifically designed to be safe for use during magnetic resonance imaging (MRI) procedures. We were the first to develop an infusion delivery system that largely eliminates many of the dangers and problems present during MRI procedures. Standard infusion pumps contain magnetic and electronic components which can create radio frequency (RF) interference and are dangerous to operate in the presence of the powerful magnet that drives an MRI system. Our patented MRidium® MRI compatible IV infusion pump system has been designed with a non-magnetic ultrasonic motor, uniquely-designed non-ferrous parts and other special features in order to safely and predictably deliver anesthesia and other IV fluids during various MRI procedures. Our pump solution provides a seamless approach that enables accurate, safe and dependable fluid delivery before, during and after an MRI scan, which is important to critically-ill patients who cannot be removed from their vital medications, and children and infants who must generally be sedated in order to remain immobile during an MRI scan.

    Our 3880 MRI compatible patient vital signs monitoring system has been designed with non-magnetic components and other special features in order to safely and accurately monitor a patient’s vital signs during various MRI procedures. The IRADIMED 3880 system operates dependably in magnetic fields up to 30,000 gauss, which means it can operate virtually anywhere in the MRI scanner room, including in very close proximity to the MRI scanner bore. The IRADIMED 3880 has a compact, lightweight design allowing it to travel with the patient from their critical care unit, to the MRI and back, resulting in increased patient safety through uninterrupted vital signs monitoring and decreasing the amount of time critically ill patients are away from critical care units. The features of the IRADIMED 3880 include: wireless ECG with dynamic gradient filtering; wireless SpO2 using Masimo® algorithms; non-magnetic respiratory CO2; non-invasive blood pressure; patient temperature, and; optional advanced multi-gas anesthetic agent unit featuring continuous Minimum Alveolar Concentration measurements. The IRADIMED 3880 MRI compatible patient vital signs monitoring system has an easy-to-use design and allows for the effective communication of patient vital signs information to clinicians.

    For more information please visit www.IRADIMED.com.

    CONTACT: Media Contact:
    Chris Scott
    Chief Financial Officer
    IRADIMED CORPORATION
    (407) 677-8022 
    InvestorRelations@iradimed.com


Banner
Website design, development, and hosting provided by
Netphiles