Why Are ImpediMed Shares Up 14.44% Today?

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At the time of writing, shares of ImpediMed Limited [ASX:IPD] are up by 14.44% from this morning’s open, trading at 51 cents in today’s market.

ImpediMed is a global company founded in Brisbane, Australia, with US and European operations. It is a world leader in the design and manufacturing of advanced medical products which use bioimpedance spectroscopy technology (BIS).

What caused ImpediMed shares to rise?

Two of ImpediMed’s products featured prominently at The Australasian Lymphology Association (ALA) conference held from May 17–19 this year may have contributed to their share value growth. After record attendance at that conference, things have only continued to improve for ImpediMed.

Leonie Naumann, President of the Australasian Lymphology Association, said:

We are delighted to report that the 12th ALA conference, like the association has enjoyed very strong growth over the last four years. The ALA enjoys increasingly strong support from industry, including ImpediMed one of the ALA’s industry Partners.

The two key ImpediMed products featured were the ‘L-Dex’ and ‘Sozo’. Both medical diagnostic devices that allow aspects of a patient’s body to be scanned and monitored non-invasively.

What next for ImpediMed?

With higher cash flows forecasted for the company, and profit expected to continue growing over the next couple of years, the future of ImpediMed seems bright.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

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About Ryan Clarkson-Ledward

Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

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