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Repro Med Systems Inc
REPRO-MED SYSTEMS INC, which is also known as Advanced Cooling Therapy (ACT), is a public company that specializes in medical instruments supplies. The company is based in the United States and its stock is listed on the OTC Market under the symbol "ACTX".
As of February 2023, the company's market capitalization is around $10 million, and the stock price is around $0.3 per share. The company's financial performance has been somewhat volatile in recent years, with revenues ranging from around $500,000 to $1.5 million per year. However, the company has been consistently losing money, with net losses ranging from around $1 million to $2 million per year.
The company's main product is the Esophageal Cooling Device (ECD), which is used to cool the body during cardiac arrest and other medical emergencies. The device is designed to be inserted into the esophagus, where it can cool the blood and organs in order to reduce damage and improve outcomes for patients.
One of the key challenges for the company has been gaining regulatory approval and reimbursement for the ECD. In 2015, the company received FDA clearance to market the device, but it has faced challenges in getting it covered by insurance companies. In recent years, the company has made progress in this area, with several major insurance companies agreeing to cover the ECD.
In terms of growth potential, the market for medical devices used during cardiac arrest is expected to grow in the coming years, driven by an aging population and an increasing number of people with chronic conditions. However, the company faces competition from other companies that offer similar products, and it will need to continue to innovate and differentiate itself in order to succeed.
In summary, REPRO-MED SYSTEMS INC (ACTX) is a small public company that specializes in medical instruments supplies. The company has been consistently losing money in recent years, but it has made progress in gaining regulatory approval and reimbursement for its main product, the Esophageal Cooling Device. The market for medical devices used during cardiac arrest is expected to grow in the coming years, providing the company with an opportunity to expand its business and improve its financial performance.