Health Care
Imricor Medical Systems Inc. (IMR)
Imricor Medical Systems (IMR) is a medical device company pioneering real-time iCMR (interventional cardiac magnetic resonance) ablation procedures. The company designs, manufactures, and sells systems, including its flagship Advantage-MR EP Recorder and Vision-MR Ablation Catheter, which allow cardiologists to perform cardiac ablations inside an MRI scanner. This provides real-time 3D visualisation of the heart and ablations without the ionising radiation used in traditional x-ray guided procedures, with commercial operations currently focused in Europe.
Market Cap
A$613M
Shares on Issue
N/A
Price Chart
AI Analysis
As a commercial-stage but pre-profitable med-tech company, Imricor's current business position is focused on driving the adoption of its iCMR systems. Recent performance is measured by the number of new iCMR lab sites activated, primarily in Germany and the Netherlands, and the corresponding growth in procedure volumes and consumable sales. The company operates with a significant cash burn, investing heavily in its sales force, R&D for next-generation products, and funding crucial clinical trials for market expansion, necessitating periodic capital raises to fund its growth trajectory.
Imricor's growth outlook is critically dependent on two key pillars: expanding its installed base in Europe and achieving regulatory approval in new, larger markets, most notably the United States. The primary upcoming catalyst is the progression and successful completion of its VISABL-AFL pivotal trial to support FDA submission, which would unlock the lucrative US market. Strategically, the company aims to prove clinical superiority and cost-effectiveness over traditional methods to drive adoption, expand its approved indications to more complex arrhythmias like atrial fibrillation, and establish iCMR ablation as the new standard of care.
Bull Case
- • First-mover advantage in the niche but growing field of iCMR-guided cardiac ablations, offering a radiation-free solution for both patients and clinicians.
- • Significant addressable market expansion and revenue inflection point upon potential FDA approval, opening access to the world's largest healthcare market.
- • Growing clinical data supporting the technology's safety and efficacy could accelerate adoption by hospitals and drive reimbursement coverage from insurers.
Bear Case
- • High cash burn rate and ongoing need for capital injections create significant shareholder dilution risk until the company reaches profitability.
- • Slow sales cycle and commercial adoption due to the high upfront capital cost for hospitals to establish dedicated iCMR labs and the learning curve for physicians.
- • Regulatory risk is a major hurdle, with success heavily contingent on future approvals from the FDA and other key international bodies, any delays or denials would severely impact the company's valuation.
Recent Announcements
Oklahoma Heart Institute to Become 4th US VISABL-AFL Site
🚨 Price SensitiveOklahoma Heart Institute has been designated as the fourth Visabl-AFL site in the United States, offering a new opportunity for investors interested in medical advancements and potential growth.
Imricor Receives FDA Clearance for NorthStar
🚨 Price SensitiveImricor Therapeutics has received FDA clearance for its innovative wound dressing, the NorthStar product. Investors should consider this a positive development indicating potential growth in market share and revenue streams within the medical device sector.
Imricor Q4 CY25 Quarterly Activities Report and Appendix 4C
🚨 Price SensitiveImricor, a commitments test entity listed on ASX reporting quarterly activities for the fourth quarter of fiscal year 2025.
VCU Health to Become Third U.S. Site for VISABL-AFL
🚨 Price SensitiveVCU Health announced in its progress report as an ASX listed company (IMR) that it has been selected as one of three sites nationwide, including the University of Melbourne and Monash Medical Centre, to participate in a pilot program for VISABL-AFL device implant
FAQs
What does IMR do?
Imricor Medical Systems develops and sells medical devices that allow cardiac ablation procedures, used to treat heart rhythm disorders, to be performed under real-time MRI guidance. This provides superior imaging and eliminates the need for x-ray radiation used in conventional methods.
Is IMR a good investment?
IMR is a high-risk, high-reward investment typical of the pre-profitable medical device sector. The potential upside is substantial if its technology becomes a new standard of care, particularly after gaining US market access. However, investors face risks including slow commercial adoption, consistent cash burn requiring future dilution, and the binary outcome of pending regulatory approvals.
What drives IMR's share price?
IMR's share price is primarily driven by news flow related to major catalysts. These include progress and results from its FDA clinical trial, the rate of new iCMR lab installations in Europe, quarterly reports on procedure volume growth, and the success of any future capital raisings.
Key Metrics
Related Stocks
Health Care
CSLCSL Ltd
A$181.24
-27.3% 1Y
CSL is a global biotechnology leader focused on plasma-derived therapies, vaccines, and specialty biologics.
Health Care
PNVPolynovo Ltd
A$0.99
-13.1% 1Y
Polynovo manufactures innovative wound care products used in burns, trauma, and reconstructive surgery.
Health Care
1ADAdalta Limited
A$0.01
-25.6% 1Y
Adalta Limited is a clinical-stage biotechnology company developing its proprietary i-body technology platform for treating a range of diseases. Based in Australia, its lead product candidate, AD-214, is being developed to treat Idiopathic Pulmonary Fibrosis (IPF) and other human fibrotic diseases.