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TheGladiator

8,709 Posts.

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01/12/16

14:16

Post #: 21029924
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Originally posted by forrestfield ↑

I am the liking the look of LSH (Lifespot IPO)... First of all, Peak is doing this IPO and they were involved with CFO (made 3 bags in 2 days) and NTI which made approx 175% on the higher end... Secondly it will have EV of 6m approx... Interestingly, almost 6m has been spent on the tech so far... Thirdly, its in the right space IMO which is E-Health...Here are some of my notes:

What is Lifespot Health?
Lifespot Health is an independently certified medical technology platform, providing permanent healthcare solutions across various medical device verticals, particularly targeting metrics that impact on the management of chronic disease.

Asset One: Bodytel
- BodyTel is a Software as a Service (SaaS) telehealth technology platform which is able to provide connectivity and storage of data from a wide range of medical devices (e.g. glucometers, INR monitoring, scales, blood pressure cuffs, activity levels, sleep data). This technology allows these medical devices to send data wirelessly in real-time via Bluetooth through a cell phone or home gateway, directly into the patient’s personalized online record.
- This information can then be used/accessed by the patient and their medical doctor to track important metrics, allowing for a more accurate picture of health and early intervention.
- Lifespot is paid for development services in deploying this technology and has a Software-as-a-Service (SaaS) contracts in place where Lifespot is paid per active patient per month

Validation of technology
- Already in use with growing revenues
- Powering technology of Omnitel, B.Braun’s medical device tele-health platform. B.Braun is a leading German healthcare provider with revenues of 5.4 Billion Euros annually.
- Anycare, tk-pharma are also existing clients of Lifespot via the BodyTel platform
- Therapy or treatment decisions based on software products are only allowed for medical use if the products/ software is medically certified. Lifespot has already navigated these certifications, and competitors time to market is at least 3 years due to these onerous certification requirements
Quality Management System in place ISO 13485
Medical software according to IEC 62304
Medically certified sensors according to IVD98/79 and MDD 93/42

Asset Two: Lifespot Skin
- Lifespot Skin will enable a fast first opinion diagnosis of skin diseases, without always needing to visit a doctor. It will offer the first to market approved global skin evaluation product, allowing consumers via their smart phones to diagnose their individual skin conditions
- The System via its patented skin recognition technology (PSRT) and individualised artificial neural networks, will identify patients' specific skin conditions and alert dermatologists accordingly
- Dr Phillip Bekhor who is part of the Australasian College of Dermatologists will be a central driver of this technology
- This asset has huge potential to be a disruptive technology IMO

View attachment 359504

Value analysis:
- Tele-health is an exciting space, and is set to revolutionize the way in which medicine is practiced globally. Chronic diseases have become the biggest cause of morbidity and mortality in the Western world.
- IPO listing price of EV 6.07 million AUD, current revenues ~100,000 euro/month and growing (1.7mil AUD per year, ~4x revenue multiple for EV).
- Company has already spent 6mill AUD on R+D of assets
- Significantly cheaper than comparable companies in this space worldwide

This is a no buy recommendation. Please DYOR

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Hey FF. Looks like a good IPO.

The 1.7m AUD revenue is pretty insane. Does this make them cash flow neutral? Also is the revenue predominantly coming from B.Braun, anycare and tk.pharma?
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0 Great analysis

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