MRI Interventions (MRIC) had BIG news on Monday. The stock saw strong trading and closed up 17%, paving the way for more gains this week.
MRIC said they hired a new Head of Global Sales, a guy who was Director of Sales for Medtronic! Medtronic (NYSE: MDT), for those of you who are unaware, is a $42 BILLION dollar company. He’s also worked for Johnson & Johnson (NYSE: JNJ) in a similar position. Now he’s with MRI Interventions – MRIC.
See the full news release from Monday here .
This development is EXACTLY in line with what I said MRIC would deliver (see my Sunday’s REPORT here).
EARNINGS just around the corner.
More surprises possible.
Robert C. Korn, newly appointed MRIC’s VP of Sales and Marketing, is a HUGE addition to the sale arm behind MRI Interventions. Just pictured some numbers ones more:
- Each sale of ClearPoint system will add $180,000 in MRIC’s gross revenues;
- Therefore, each single procedure on this system will boost MRIC’s net income for ~$5400 (number is approximate, based from cost of $7300 & 75% of margin on disposable blade & overhead of a sales team with 7 professionals).
- Therefore, ONLY 100 ClearPoint’s brain surgery procedures from ONE system will boost MRIC’s net income for $540,000!
Today’s news also had clues on what investors can expect in the near-term. Here are a few excerpts:
“We are seeing strong growth and increasing market demand for our ClearPoint Neuro Intervention System” (more SALE contracts?)
“We recently added two additional experienced sales representatives, both with significant neurosurgery backgrounds” (more SALE leads & contracts?)
This paves the way for further price gains this week. Volume supported the move, topping 3x 10day average! As in June this year, volume is a precursor to big moves for this stock.
MRI Interventions, Inc.
One Commerce Square
Memphis, TN 38103
MRI Interventions is creating innovative platforms for performing the next generation of minimally invasive surgical procedures in the brain and heart. Utilizing a hospital’s existing MRI suite, the company’s FDA-cleared ClearPoint® system is designed to enable a range of minimally invasive procedures in the brain. MRI Interventions has a co-development and co-distribution agreement with Brainlab, a leader in software-driven medical technology, relating to the ClearPoint system. In partnership with Siemens Healthcare, MRI Interventions is developing the ClearTrace™ system to enable MRI-guided catheter ablations to treat cardiac arrhythmias, including atrial fibrillation. Building on the imaging power of MRI, the company’s interventional platforms strive to improve patient care while reducing procedure costs and times. MRI Interventions is also working with Boston Scientific Corporation to incorporate its MRI-safety technologies into Boston Scientific’s implantable leads for cardiac and neurological applications.
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