Allium Medical Solutions (ALMD)

Business description

Allium Medical Solutions is a company focused on developing and marketing minimally invasive devices in various areas: cardiovascular, metabolic, genitourinary and gastrointestinal. The company has three selling product lines: Allium Stents, IBI (EndoFast) and Gardia Medical.

Stock data

Market cap.NIS85.1m
Last closeNIS1.21
High / Low (52 weeks)NIS1.4 / NIS0.8
Stock market listingTel Aviv Stock Exchange
Forecast net cash (NISm)20.7
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(2.7)3.02.3
Relative *(6.7)(2.1)(7.2)

* % Relative to local index

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Company news

A Significant Achievement for Allium Medical: Gardia's WIRION® Embolic ...

Mon, 08 Jun 2015 16:52:30 GMT

Allium Medical Solutions: It Is All About Business Execution

Tue, 02 Jan 2018 12:15:52 GMT

Allium Medical Solutions Ltd. is Granted a Japanese Patent for its Triangular ...

Thu, 23 Jun 2011 16:17:18 GMT

Non-vascular Stents Market Anticipated to Surge with an Impressive CAGR of 5 ...

Tue, 19 Dec 2017 13:07:30 GMT

Global Non-Vascular Stents Market Is Likely to Become Worth US$730.5 Mn During ...

Thu, 28 Dec 2017 21:11:15 GMT

Y/E Dec Revenue (NISm) EBITDA (NISm) PBT (NISm) EPS (NIS) P/E (x) P/CF (x)
2015A 5.2 (16.3) (18.5) (0.65) N/A N/A
2016A 7.4 (20.4) (22.0) (0.49) N/A N/A
2017E 9.7 (19.5) (20.3) (0.35) N/A N/A
2018E 16.6 (6.8) (7.3) (0.10) N/A N/A

Last updated on 02/01/2018

Investment summary

Gardia Medical’s Wirion device is on track for FDA submission, expected by end-2017; approval is possible in Q218. If approved, it would become the only embolic protection system for all atherectomy procedures in the legs which we think will help to reach a strategic transaction. Furthermore, Allium Stents and IBI Medical are expected to gain approval in Russia in 2018 while approval in China is expected in early 2018. We expect initial revenues from Mexico in Q417 and from the strategic agreement in Russia in H118. In addition, Allevetix is due to start a clinical trial in the next few months and TruLeaf is progressing its large animals study. Our updated valuation is NIS1.68/share.

Last updated on 02/01/2018

Industry outlook

We expect Allium’s growth to accelerate in the medium term, driven by new markets, resulting in 2016-20e revenue CAGR of 46%. Allium also has two devices in preclinical development: Allevetix for diabetes and obesity (start a clinical trial in 2017) and TruLeaf, a mitral valve replacement device that will develop until completion of clinical trial. Gardia Medical’s Wirion device is approaching FDA submission, approval in the US is important for strategic partnering discussions.

Last updated on 13/12/2017

Key management

Asaf Alperovitz, CEO
Ariel Rubashkin, CFO

Company address

2 Ha'Eshel St., PO Box 3081
Caesarea Industrial Park South
3088900
Israel
+972 4 6277166
View website