Imricor (ASX:IMR) share price rises on latest update

The Imricor Medical Systems Inc (ASX: IMR) share price is edging higher today after news another hospital has purchased one of its products.

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The Imricor Medical Systems Inc (ASX: IMR) share price is edging higher today. As of writing, shares in the medical device company are trading for $2.10, up 2.94%. By comparison, the S&P/ASX All Ordinaries Index (ASX: XAO) is 0.4% higher.

Today’s positive price movement comes as the company advised another hospital has purchased one of its products.

Let’s take a closer look at the announcement and what it means for the Imricor share price.

Imricor company profile

Imricor is a medical device company that addresses issues with traditional x-ray-guided tissue removal procedures by developing MRI-guided technology. The company’s products include Advantage-MR EP recorder/stimulator, Vision-MR dispersive electrode, and its premier product, the Vision-MR ablation catheter.

According to the company, the ablation catheter is specifically designed to work under real-time MRI guidance to achieve “faster and safer treatment” than x-ray guidance.

What’s affecting the Imricor share price

In a statement to the ASX, Imricor announced Helios Hospital in Berlin, Germany, had signed a purchase agreement for an interventional cardiac magnetic resonance imaging (iCMR) lab to perform ablations with Imricor’s products. It is the 10th such hospital to sign an agreement with the company.

The medical imaging company did not disclose how much the deal was worth, or if there are any conditions to it. Despite this, investors are responding well to the news today, judging by the Imricor share price.

Imricor chair and CEO Steve Wedan said:

We are very pleased to add a second Helios hospital to our installed base, as Berlin-Buch joins the Helios Leipzig Heart Centre in adopting iCMR guided ablations.

While Europe continues a gradual recovery into a post COVID-19 era, we are very happy to be able to continue growing the number of centers [sic] enabled with Imricor’s solution for the future of cardiac electrophysiology.

The company expects operations with its products to begin at the hospital within a short period of time.

Imricor share price snapshot

Over the last 12 months, the Imricor share price appreciated 104.9%. However, it has fallen 22.4% over the last 6 months and 11.5% since February.

Imricor Medical Imaging has a market capitalisation of $240.2 million.

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