Imricor Medical Systems (IMR) NWR Virtual Healthcare Conference summary

Market opportunity and technology

• MRI-guided cardiac ablation addresses arrhythmias, a condition expected to affect 1 in 4 people by age 75, with significant risks like stroke and cardiac arrest.

• Traditional X-ray-guided ablation has low efficacy (38%) and high costs due to limited visibility; MRI offers real-time imaging, improving speed, efficacy, and cost savings.

• Imricor is the only provider of MRI-compatible consumables, capturing 100% of recurring revenue per procedure.

• The global consumables market is estimated at $10 billion and growing at double digits, driven by aging populations and improved technology.

• Partnerships with Siemens, Philips, and GE facilitate lab build-outs and market access.

Clinical and commercial progress

• European clinical trials showed 100% effectiveness for MRI-guided ablation, compared to typical 80% for conventional methods.

• CE mark approval in Europe and first sales in the Middle East signal early global expansion.

• FDA approval process is well advanced, with modular submissions progressing smoothly and no reported delays.

• NorthStar, the only MRI mapping system, is expected to receive 510(k) approval in Q3, enabling rapid sales ramp-up.

• The world's first MRI-guided VT procedure is imminent, with data releases expected throughout the year.

Business model and financial outlook

• Each hospital is expected to perform 500 procedures annually, generating $3 million in recurring revenue per site.

• MRI-guided procedures eliminate the need for costly mapping and ultrasound catheters, increasing hospital margins.

• The company recently completed a $70 million equity raise at no discount, reflecting strong investor confidence.

• New capital will accelerate trials for additional indications, expand sales teams, and extend operational runway for several years.

• No plans for dual listing; current ASX listing is considered optimal for shareholder base and growth plans.