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IRADIMED CORPORATION (NASDAQ: IRMD) is a leading developer, manufacturer, marketer, and distributor of innovative Magnetic Resonance Imaging (MRI) compatible medical devices. Incorporated in 1992 and headquartered in Winter Springs, Florida, the company specializes in MRI-compatible intravenous (IV) infusion pump systems and MRI-compatible patient vital signs monitoring systems. These products are essential for ensuring the safety and accuracy of medical procedures during MRI scans, widely used in hospitals, acute care facilities, and outpatient imaging centers both in the United States and internationally.
IRADIMED’s flagship product, the MRidium® MRI-compatible IV infusion pump system, is designed with non-magnetic components to eliminate the risks associated with traditional infusion pumps in MRI environments. The pump system uses a non-magnetic ultrasonic motor and uniquely designed non-ferrous parts to safely deliver anesthesia and other IV fluids during MRI scans.
The company also offers the IRADIMED 3880 MRI-compatible patient vital signs monitoring system, which features non-magnetic components to safely monitor vital signs during MRI procedures. The compact, lightweight design allows it to move with the patient from critical care units to MRI rooms, ensuring uninterrupted monitoring.
IRADIMED distributes its products through a robust network of direct field sales representatives, regional sales directors, clinical support representatives, and independent distributors. The company has demonstrated strong financial performance, achieving record revenue and consistent profitability. For instance, in the third quarter of 2023, IRADIMED reported a 23% year-over-year revenue growth to $16.5 million, with continued strength in its monitoring business.
Recent achievements include being listed on Forbes’ 2024 list of America’s Most Successful Small-Cap Companies and transitioning to the Nasdaq Global Market, reflecting the company’s growth trajectory and commitment to delivering value to stockholders.
Looking ahead, IRADIMED projects further growth with anticipated revenue of $72.0 million to $74.0 million for the full year 2024 and continued innovations in MRI-compatible medical devices.
IRADIMED CORPORATION (NASDAQ: IRMD) will announce its 2023 first quarter financial results before markets open on May 4th, followed by a conference call at 11:00 a.m. ET. Interested participants can register online to join the call, which will also be streamed live on their website. The company is known for its innovative MRI-compatible medical devices, including the MRidium® IV infusion pump and the iRadimed 3880 vital signs monitoring system, designed for safety and efficiency during MRI procedures. These products utilize non-magnetic components to eliminate risks associated with traditional devices in high-field MRI environments, enhancing patient care.
IRADIMED CORPORATION (NASDAQ: IRMD) announced that CEO Roger Susi will present at the 35th Annual Roth Conference on March 13, 2023, at 11:30 am PT in Laguna Niguel, CA. The event will feature 1-on-1 meetings, thematic panels, and presentations from around 400 companies. A live webcast and replay of the fireside chat will be available on Iradimed’s investor page. Iradimed is known for its innovative MRI-compatible medical devices, including its patented MRidium® IV infusion pump system, designed to ensure safety during MRI procedures. The company also manufactures the 3880 MRI-compatible patient vital signs monitoring system, enhancing patient care during MRI scans.
IRADIMED CORPORATION (NASDAQ: IRMD) issued an Urgent Medical Device Correction Letter regarding potential issues with the 1057 Syringe Adapter Set. This device may experience reduced flow and inlet occlusion during use with the MRidium infusion pump, impacting an estimated 0.4% of recently manufactured sets. The company received five customer complaints, none resulting in injury or death. This proactive measure is taken with FDA knowledge and does not affect other products. Importantly, IRADIMED does not anticipate any material financial impact from this corrective action.
IRADIMED CORPORATION (NASDAQ: IRMD) reported strong financial results for Q4 and full-year 2022. Revenue for Q4 reached $14.9 million, up from $11.9 million in Q4 2021, while full-year revenue was $53.3 million, compared to $41.8 million in 2021. GAAP diluted EPS for Q4 was $0.29, and $1.02 for the year. The company announced a special cash dividend of $1.05 per share, payable on February 21, 2023. For 2023, IRADIMED expects revenue between $61 million and $63 million with diluted EPS guidance of $1.10 to $1.20.
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