|Moderated By: Bob Lee -- (Not Moderated) -- Started: 6/6/1996 10:11:00 PM Revision History|
Does anyone have any info on this one?
THE WOODLANDS, Texas--(BUSINESS WIRE)--June 6, 1996--Strategic
Advisory Inc. announced today that they have initiated coverage on
American BioMed Inc. (OTC BB: ABMI), of The Woodlands, Texas.
Strategic has instituted a strong buy recommendation with a 12
to 18 month target valuation of $5 to $6 per share. The company
analyst stated that American BioMed Inc. will be highlighted in
Strategic's mid-June newsletter as well as the August publication of
ABMI is a company that is just beginning to commercialize its
vascular product lines. These products include but are not limited
to patented and unique products such as stents, catheters and the
OmniCath, ABMI's atherectomy catheter.
Stents are the new wave in cardiology. These small devices use
self-expanding nitinol that helps keep blood vessels open after an
angioplasty has been performed. This does not infringe on Johnson &
Johnson's (NYSE:JNJ) balloon delivered stents. ABMI is also
positioning itself as the premier provider of silicone based
catheters. Their nine FDA approved catheters are silicone based and
have broad uses.
The OmniCath is an atherectomy device which actually removes
plaque buildup from blood vessels. It vacuums and filters preventing
distally embolisms and thereby helps return blood flow back to normal
levels. The analyst also cites added valuation due to the recent
stock acquisition of InStent Inc. (NASDAQ:ININ) for $214.6 million
by Medtronic Inc. (NYSE:MDT) due to the similarity of the stent
delivery systems of InStent and American BioMed.
The OmniCath is currently being marketed in Europe and is in
stage two of the FDA approval process and is about to submit its
510-K filing in order to speed up the process which will fully
commercialize the unit in the United States.
Strategic Advisory Inc.
Brendon Gebben, 800/793-2601
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