Welcome to our dedicated page for Semler Scientific news (Ticker: SMLR), a resource for investors and traders seeking the latest updates and insights on Semler Scientific stock.
Semler Scientific, Inc. (Nasdaq: SMLR) is an innovative medical risk-assessment company focused on developing, manufacturing, and marketing diagnostic and testing products that enhance patient care while bridging the gap between the cost of care and its compensation. Listed on Nasdaq since February 26, 2014, Semler operates primarily in the United States, offering proprietary technology solutions that improve clinical effectiveness and efficiency for healthcare providers, insurance plans, and risk assessment groups.
Semler's flagship product, QuantaFlo®, is a rapid, in-office test for measuring arterial blood flow in the extremities. This four-minute test aids in diagnosing peripheral arterial disease (PAD) and heart dysfunction (HD). QuantaFlo® is FDA-cleared and is employed by healthcare providers to evaluate patients' risks of mortality and major adverse cardiovascular events (MACE).
Beyond QuantaFlo®, Semler Scientific has made strategic alliances and investments to expand its product portfolio. The company has an exclusive marketing and distribution agreement with Mellitus Health, Inc. for Insulin Insights™, an FDA-cleared software product that recommends optimal insulin dosing for diabetic patients. Additionally, Semler holds minority investments in Mellitus, Monarch Medical Technologies LLC (developer of EndoTool® for inpatient glycemic management), and SYNAPS Dx.
In the latest financial results for Q3 2023, Semler reported consistent growth in quarterly revenue and pre-tax net income, predominantly from QuantaFlo® sales. The company continues to focus on expanding its business into heart dysfunction diagnosis.
Semler has also recently adopted Bitcoin as its primary treasury reserve asset, reflecting a strategic move to leverage the digital currency for long-term value and as a hedge against inflation. As of June 6, 2024, the company holds 828 bitcoins, underscoring its commitment to this innovative investment strategy.
More detailed information about Semler Scientific, its products, and investment strategies can be found on their website.
Semler Scientific (SMLR) announced on April 19, 2023, that Eric Semler has been appointed as Chairman of the Board and William H.C. Chang as a new independent director. Both are significant shareholders, owning over 20% of the company. The board will temporarily expand to seven members and later revert to five. Semler and Chang bring extensive experience in capital allocation and corporate governance, which is expected to enhance strategic planning. Dr. Wayne T. Pan, CEO, expressed optimism about the new appointments. Eric Semler emphasized the company's potential in diagnosing diseases and maximizing shareholder value through three main strategies: optimizing core business, developing new products, and leveraging the company's substantial cash position, which is approximately 25% of its market cap.
Semler Scientific, Inc. (NASDAQ: SMLR) announced its participation in the 22nd Annual Needham Virtual Healthcare Conference on April 17, 2023, at 4:30 PM ET. CEO Wayne T. Pan, Ph.D., M.D., and Renae Cormier will present an overview of the company and engage in one-on-one calls with investors on April 18. A live webcast of the presentation will be accessible through the company's investor section on its website, with an archive available for 90 days. Semler Scientific focuses on developing technology solutions for healthcare efficiency, including the QuantaFlo test for cardiovascular disease diagnosis and the Insulin Insights™ software for diabetes treatment.
On April 3, 2023, Semler Scientific (SMLR) discussed the recent CMS 2024 Medicare Advantage and Part D Final Rate Announcement, specifically its decision to remove peripheral artery disease (PAD) without complications from the risk adjustment model. Despite this, CEO Wayne T. Pan expressed confidence in the importance of screening at-risk Medicare patients using the QuantaFlo® product. A three-year phase-in period allows continued screening, supporting the collection of clinical outcome data. Studies indicate that earlier diagnosis of PAD can lead to significant cost savings and improved patient outcomes. Semler aims to maintain rigorous testing protocols to benefit healthcare providers and patients.
Semler Scientific (Nasdaq: SMLR) reported a Q4 2022 revenue of $13.8 million, reflecting a 20% increase year-over-year, with net income rising 113% to $3.2 million. For full year 2022, revenues reached $56.7 million, a 7% increase, while net income decreased by 17% to $14.3 million. Cash position improved to $43.1 million. A transition in leadership was announced, as CEO Doug Murphy-Chutorian will step down, succeeded by Wayne T. Pan effective April 3, 2023. The company expects Q1 2023 revenue between $17.4 million and $17.8 million but has withheld guidance for the entire year.
Semler Scientific, Inc. (NASDAQ: SMLR) announced on March 21, 2023, that Doug Murphy-Chutorian, M.D. will step down as CEO but remain on the board through 2024. Wayne T. Pan, M.D., Ph.D., M.B.A., currently a board member since May 2014, will take over as CEO effective April 3, 2023. Dr. Pan brings over 20 years of wide-ranging healthcare experience, including his role as a medical director at Banner Health. In his statement, Dr. Pan expressed confidence in Semler's diagnostic tools, emphasizing their potential to improve cardiovascular care and enhance shareholder value.
FAQ
What is the current stock price of Semler Scientific (SMLR)?
What is the market cap of Semler Scientific (SMLR)?
What does Semler Scientific, Inc. do?
What is QuantaFlo®?
When did Semler Scientific go public?
What recent achievements has Semler Scientific made?
What is Insulin Insights™?
How is Semler Scientific involved with Bitcoin?
Who are Semler Scientific’s primary customers?
Where is Semler Scientific headquartered?
What other companies is Semler Scientific invested in?
What is the financial outlook for Semler Scientific?
