anyone following, page-2

was suppose to include this...oops

CathRx (share price $1.50, market cap $64 million) was floated in October 2005 at $1 and like Universal Biosensors, it hit a high in November 2007, peaking at $3. The share price has halved to $1.50.

CathRx and Universal Biosensors have several key people in common. All the usual suspects here. Denis Hanley in this instance is chairman, Andrew Denver is a non-executive director. There are also two non-executive directors in common.

The company is developing novel cardiac catheters for the diagnosis and treatment of abnormal heart rhythms called cardiac arrhythmias. These are the things you get when news comes through that what you thought was a standard margin loan is in fact nothing like it, and that you are now an unsecured creditor of Opes Prime ranking behind the ANZ bank. Opes aside, the likelihood of arrhythmias increases from about 55 years of age.


Cardiac catheters are minimally invasive tools, which are routinely used by specialist clinicians to diagnose and treat different types of cardiac arrhythmias. The size of the cardiac catheter procedure market worldwide is currently approximately $US600 million, growing at a rate of over 10% a year.

CathRx products have a novel design that allows clinicians to customise the catheter for each particular procedure. It expects that the capacity for the catheters to be customised will result in cost efficiencies for hospitals and potentially better outcomes for patients.

CathRx has recently received CE Mark approval (regulatory approval for Europe and parts of Asia) for the first of its cardiac catheter products. The company estimates the current European cardiac catheter market at around $265 million, of which $90 million is for routine diagnostic catheters. With CE Mark approval now granted, the group will be launching its initial products into the European market in 2008 with test marketing at select hospitals in several countries.

With a string of new products in development and near-term revenue, CathRx could recapture market darling status.

http://business.smh.com.au/medicine-for-an-ailing-market/20080416-26gz.html?page=fullpage#contentSwap1