Equity Spoltight - Wed, 14 Apr 2004 00:56:30 -0800
Symbol: AMTK - Austin Medical Technologies
Sector: HealthCare/Medical Technologies
AMTK - On the Cutting Edge of Medical Technologies
AMTK is experiencing strong and sturdy growth due to the continued demand for its products and services utilized by surgeons throughout the world. The business is an annuity model with recurring revenue each month. Customers sign multi-year contracts, and AMTK maintains a track record of 95% contract renewal.
AMTK delivers "DIRECT" from the manufacturer to the surgeon, the only technology-based "Single Source Supply Solution" serving the Ambulatory Surgery Center (ASC) market. Under the brand name eyeDirecti, AMTK is initially focused on surgeon-owned and operated ASCs which consist of 2,500 practices with 15,000 surgeons performing 4.4 million surgical procedures annually at a supply cost of 400 million dollars per year.
HIGHLIGHTS
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AMTK has exclusive contracts with leading HealthCare companies such as Baxter, Medtronic, Allergan, and OcuSoft.
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AMTK is a manufacturer and distributor of several hundred medical and surgical products -- enough to fill 80 percent of a typical ASC's supply needs.
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AMTK provides products and services exclusively to the 2500 Ophthalmology-owned and operated Ambulatory Surgery Center (ASC) market, which is the fastest growing segment of HealthCare with over 10 million surgical procedures performed annually. AMTK is focused on providing disposable surgical supplies and superior service to this outpatient HealthCare provider.
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AMTK's founders have more than 100 years' experience in the ophthalmic surgical products and technology industries.
AUSTIN MEDICAL TECHNOLOGIES, Inc.
AMTK provides hundreds of products and technology-based services needed by ASC's. AMTK offers disposable surgical instruments, custom sterile procedure packs, intravenous solutions, patient care supplies, and technology to enhance efficiencies and eliminate cost to the customer. AMTK's in-depth knowledge concerning special interactions among ASC's and manufacturers has driven it to create the surgical eye care supply chain and e-commerce solution that dramatically simplifies the distinctive methods and processes used byits customers to manage their business.
AMTK has exclusive contracts with leading HealthCare companies such as Baxter, Medtronic, Allergan, and OcuSoft for manufacturing and distribution of the products it markets. This is key: AMTK provides not just products but also a unique set of innovative, integrated cost-management services. These are extremely important in HealthCare today; they allow ASC's to save money and focus on patient care rather than supplies and logistics.
Customer Requirements
Every year 10 million surgical procedures are performed within the ophthalmic ASC market. Every day there are more than a million people making outpatient visits to medical centers across the country. The nation spends about a trillion dollars a year -- a sixth of its total economy -- on HealthCare. That amount continues to grow as the population ages and new medical capabilities develop. Globally, HealthCare is a large, vital, growing industry.
How Austin Medical Technology Responds
More than any other company in HealthCare, AMTK can help ophthalmic ASC's manage their costs and their resources. AMTK can address the 20-plus percent of an ASC budget that goes for supplies and the additional 20 percent or more that very often is devoted to managing those supplies.
AMTK is a manufacturer and distributor of several hundred medical and surgical products -- enough to fill 80 percent of a typical ASC's supply needs. More important, AMTK integrates its total product-offering with unique services that have been proven to help control HealthCare costs. AMTK helps its customers purchase and use fewer supplies. AMTK helps them order and manage inventories more efficiently.
Custom Procedure Trays (CPT's) aka "packs" incorporate 70-80% of disposable surgical supplies utilized on a procedure specific basis. CPT's is a 2 billion dollar industry HealthCare wide and $400 million within the ophthalmic ASC market. 95% of ophthalmologists utilize packs for Cataract, Retinal and Plastic procedures. LASIK packs are now being created for this new procedure.
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