Health Care
Impedimed Limited (IPD)
Impedimed Limited (ASX: IPD) is a medical technology company specializing in bioimpedance spectroscopy (BIS) technology. They develop and market devices, notably the SOZO digital health platform with L-Dex, for the early detection and management of lymphedema in cancer survivors and for general fluid status assessment. The company primarily operates globally, with a strong focus on market penetration in the United States healthcare sector.
Market Cap
A$43M
Shares on Issue
N/A
Price Chart
AI Analysis
Impedimed is positioned as a niche medical technology provider, leveraging its proprietary bioimpedance spectroscopy platform, SOZO, to address the significant clinical need for objective lymphedema assessment. As a micro-cap company (A$43M), IPD is in a commercialisation phase, focusing on driving adoption of its SOZO device in oncology clinics. The company's recent performance has likely been characterised by ongoing investment in sales and marketing to expand its footprint, potentially leading to continued operational losses as it scales, a common trajectory for growth-focused med-techs.
The growth outlook for Impedimed hinges on increasing market penetration and securing broader reimbursement for its SOZO technology, particularly in the US. Upcoming catalysts could include significant contracts with major oncology networks, positive updates on clinical trials demonstrating health economic benefits, or expansions into new indications beyond lymphedema management. The strategic direction appears focused on establishing SOZO as the standard of care for lymphedema surveillance, which is crucial for long-term revenue growth and eventual profitability, though this path involves inherent speculative risks common to small-cap medical device companies.
Bull Case
- • Accelerated adoption of the SOZO device by oncology clinics, driven by growing clinical evidence and improved reimbursement policies in key markets like the US, establishing it as the standard of care for lymphedema monitoring.
- • Successful expansion into new clinical indications beyond lymphedema, leveraging Impedimed's core bioimpedance spectroscopy technology for broader fluid management applications, significantly expanding its total addressable market.
- • Attraction of strategic partnerships or acquisition interest from larger medical device companies, providing capital and distribution scale to accelerate market penetration and reduce funding risks.
Bear Case
- • Slower-than-anticipated market adoption due to challenges in physician uptake, competition from alternative diagnostic methods, or difficulties in securing consistent and favourable reimbursement.
- • Frequent and dilutive capital raises required to fund ongoing operations and commercialisation efforts, potentially eroding existing shareholder value given the company's micro-cap status and likely cash burn.
- • Adverse outcomes from ongoing clinical studies or regulatory hurdles that could undermine the credibility or market acceptance of Impedimed's technology, impacting sales and future growth prospects.
Recent Announcements
Investor Presentation
Quarterly Activities Report and Appendix 4C - Dec-2025
🚨 Price SensitiveIPD, a commitments test entity on ASX, has released its quarterly activities report with detailed appendices for the December 2025 period. Investors should review these documents to assess IPD's financial position and compliance status at year-end.
Q2 FY26 Quarterly Results Investor Webinar
Update - Application for quotation of securities - IPD
Change of Director's Interest Notice - Mr Andrew Grant
FAQs
What does IPD do?
Impedimed Limited (ASX: IPD) is a medical technology company that develops and markets the SOZO digital health platform, featuring its L-Dex technology, to measure and monitor fluid status and lymphedema. It primarily helps cancer survivors at risk of or suffering from lymphedema, providing objective data for early intervention.
Is IPD a good investment?
As a micro-cap medical technology company, IPD is a speculative investment. It offers significant upside potential if its SOZO platform achieves widespread adoption and strong reimbursement, leading to substantial revenue growth and eventual profitability. However, it also carries notable risks, including the need for further funding, slow market penetration, and competitive pressures, making it suitable for investors with a high-risk tolerance.
What drives IPD's share price?
IPD's share price is primarily driven by news regarding the commercialisation success of its SOZO platform, including updates on device adoption rates, significant customer wins (e.g., large clinic networks), and progress on reimbursement pathways. Positive clinical trial data, regulatory approvals, and any capital raising activities (or lack thereof) are also key influences. The overall sentiment towards the medical technology sector and small-cap growth stocks in Australia also plays a role.
Key Metrics
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