| From: Sultan | 3/1/2024 7:25:35 PM | | | | | | CRRT CONFERENCE 2024
CRRT Conference Breakfast Symposium
Waking up to Endotoxemic Septic Shock. What do you need to be ready?
Wednesday March 13, 2024
San Diego, CA
Moderators: John Kellum and Debra Foster
Diagnosing ESS in the real world – Danielle Davison, George Washington University
Treating ESS in the real world – Javier Neyra, University of Alabama
Implementing PMX hemoadsorption at the bedside – Johann Chang, (Spectral), Tara Morgan-Gray, (Colorado Springs) |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 3/5/2024 3:19:22 PM | | | | | | Raymond James Conference - Vantive and Today's 8-K
Questioner
Early last year, you talked about reconstructing the portfolio - big step late last year and then another additional step coming later this year with the spin of the kidney business. And so I guess the question I have here is. The initial question is you filed an 8-K this morning, so the intention was to separate the business - potentially spin - potentially sale. You filed an 8-K this morning that indicated you were in recent discussions with private equity around the potential sale of this business. I guess my first question on that is, what triggered the 8-K and then any other detail you can add.
Baxter
Sure. I think what number one, we've been pretty consistent around our messaging around this idea that our responsibility is to maximize shareholder value. And so whether that was in timing, whether there were structural areas that impacted the decisions we're going to make, we were really clear on the fact that that was our overarching objective. As part of that, we talked about the fact that there could be multiple paths and so what triggered the 8-K today was really the idea that we had actually received interest from private equity parties, that was up until this time was, we'd like to and we're going to maximize shareholder value if something comes along, we're going to consider it. What's different today is we've actually received incoming interest from private equity firms for the possibility of acquiring. But I think the key point that I just want to emphasize is, we're taking a very balanced approach to how we're thinking through this in that again, it's about maximizing shareholder value and we've worked very hard to head towards a spin, the work that we've done to get to the potential spin is very relevant to the work that would be necessary in the event that we did decide to go down the path of a sale. And so we're going to continue to ensure that we have are very balanced in how we think about these things. But again, in the end, I'll make the decision that will maximize shareholder value.
Questioner
And just the 8-K requirement, it's strictly based on timing, not probability of an event?
Baxter
It was the fact that we actually received interest from these outside parties, as opposed to just, hey, if something comes along, we'll consider it. We've now actually received specific interest from private equity firms.
Questioner
How does the 8K impact? Because you've kind of steered investors towards the second-half separation. Does that change at all given the 8-K?
Baxter
We did say as part of the 8-K that we expect to complete the separation regardless of structure in the second half of this year.
Questioner
So nothing’s changed there.
Baxter
Yes
Questioner
And just on that business, I realize the focus will be more on ?, but just on Vantive, expected to be down on the top line in 24, but if we kind of exclude some kind of one time ish dynamics, that business is kind of a 3 to 4% top line normalized business with up margins in the mid to high single digits and investors should view it as more of a margin expansion story? Is that the identity of that business?
Baxter
Yeah, I don't want to speak on behalf of the kidney Care team. I'm sure that Chris Toth, who has been kind of the designated CEO, has a very detailed strategy that will incorporate reinvestment in the business, in particular to, you know, drive top line growth, particularly around the home and accelerating the home and some digital capabilities to really expand that, coupled with, I would say meaningful margin expansion, they do obviously - we did provide our segment profitability last year. So you can see what the kidney care margins are. And I think Chris and his team have a very detailed plan to accelerate margins. You know both in the near term and over the longer term as well. |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 3/5/2024 3:22:57 PM | | | | | | | On March 4, 2024, Baxter International Inc. (“Baxter”) provided an update on the planned separation of its Kidney Care business. Consistent with Baxter’s commitment to evaluate strategic options in the interest of maximizing stockholder value, Baxter disclosed that it has been in recent discussions with select private equity investors to explore a potential sale of the Kidney Care asset in lieu of the proposed spinoff of that business. No final decision on the separation structure has been made and Baxter continues to make progress on the previously announced proposed spinoff of the Kidney Care business. Regardless of the separation structure ultimately selected, Baxter has expressed its commitment to separating the Kidney Care business in the second half of 2024. |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 3/7/2024 8:45:20 PM | | | | | | With only 57 patients to full enrollment, the Company is entering the final push to fully enroll and finish the Tigris trial. To bolster ongoing efforts, Spectral will convene an in-person Investigator Meeting on March 12th & 13th in San Diego, coinciding with the 29th International Conference on Advances in Critical Care Nephrology. Read more: lnkd.in
 |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 4/3/2024 12:06:18 AM | | | | | | Spectral Medical Chair to Retire From the Board of Directors
Dr. Paul Walker to succeed as Chair
TORONTO, April 02, 2024 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late-stage theranostic company advancing therapeutic options for sepsis and septic shock, today announced that Anthony (Tony) Bihl III, Spectral’s Chairman, will be retiring from the Board at Spectral’s upcoming Shareholder Meeting in June 2024.
Mr. Bihl has been a Director of the Company for 16 years and was appointed to the role of Chairman in 2010. Mr. Bihl will step down as Chair, effective April 2, 2024, but will remain a director until his retirement from the board in June. Dr. Paul Walker will immediately succeed Mr. Bihl as Chair.
“It has been my pleasure to serve Spectral for 16 years, including the last 14 years as Chairman. Over that time, I am very proud of the clinical and regulatory progress of PMX, and the development of our commercialization pathway. I am confident that the Company is today in the strongest position it has ever been, led by an exceptional executive team and a strong board who are successfully implementing a clear strategy,” said Tony Bihl.
“On my behalf and that of the entire Board, we want to express our sincere appreciation for Tony’s significant contributions and dedicated service during his tenure as Chairman. What we accomplished together has been truly remarkable. His stewardship and counsel over the past 16 years on the Board has ensured the continuity and development of our vision, which is to play a major role in reducing the tragic rates of mortality caused by endotoxic septic shock. I have been fortunate to work with Tony for the last three years and I wish him well for the future,” said Chris Seto, CEO of Spectral Medical. |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 5/6/2024 11:57:07 AM | | | | | | Spectral Medical Provides April Tigris Trial Update
Spectral Medical Inc.
Mon, May 6, 2024, 4:30 AM PDT3 min read
• 105 patients enrolled
• April represents a record breaking month for patient enrollment
TORONTO, May 06, 2024 (GLOBE NEWSWIRE) -- Spectral Medical Inc. (“Spectral” or the “Company”) (TSX: EDT), a late-stage theranostic company advancing therapeutic options for sepsis and septic shock, today provided an update on the Company’s Tigris trial, a Phase 3 follow-on study evaluating the use of Polymyxin B Hemoperfusion (“PMX”) in a randomized controlled trial of adults treated for endotoxemia and septic shock.
Enrollment:
- Robust enrollment activity continuing throughout 2024:
- 105 patients enrolled at end of April 2024
- Record monthly enrollment with seven patients enrolled in April
- 24 patients enrolled in 2024 so far – represents the most robust enrollment rates since the start of the Tigris study
- With 45 patients to full enrollment, the Company is entering the final push to fully enroll and finish the Tigris trial
- To support sustained enrollment, Spectral hosted an in-person Investigator Meeting March 12th & 13th in conjunction with the 29th International Conference on Advances in Critical Care Nephrology in San Diego
- In-person meeting well attended with multiple stakeholders present, including: principal investigators and clinical research coordinators from existing and new trial sites; CRO, Beaufort; and representatives from the Company’s strategic partner Baxter
Trial Sites:
- Continued progress opening additional high quality clinical sites
- Recently onboarded the University of Virginia
- Two pending sites in the pipeline finalizing contracting and training
- Spectral clinical team focused on trial site management activities to ensure that Tigris sites have the support and resources to enroll patients as efficiently as possible
|
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| From: Sultan | 5/24/2024 7:01:05 PM | | | | | | AGM on June 7th.. Only two items on proxy.. Election of Directors and Public Accountants..
However, of note is the new director being appointed.. IMHO, this is meaningful in that the director is not only heavy duty but also note the Baxter connection..
Following is the profile..
Cristiano Franzi
Mr. Cristiano Franzi is a seasoned global healthcare executive and board director with a 30-year track record at leading global Med-Tech companies. As President EMEA for businesses of up to $4 billion in size at Baxter, Medtronic, and Covidien, Mr. Franzi has proven his ability to deliver value by developing 12 compelling visions, identifying new market opportunities, and articulating clear growth strategies while streamlining operations and implementing highly disciplined business models. From 2017 to 2023, Mr. Franzi served as President of Baxter EMEA and as a Member of Baxter’s global Executive Leadership team, where his most recent experience included serving as the interim global lead for the spin-off of the $4.5 billion Renal Care business (“Vantive”). Prior to Baxter, Mr. Franzi served as President, EMEA at Medtronic, and prior to that as President, EMEA at Covidien. Before that, he was the Vice President, International Marketing and Business Development at ev3, a private equity-backed medical device start up, where he played a key role in the international expansion of ev3 from inception to its $156 million IPO in 2005. Additionally, he has served as an industry leader on the Board of MedTech Europe, the industry association in Europe. Mr. Franzi also serves as an expert advisor to leading global private equity firms. Mr. Franzi completed the Advanced Management Program (AMP197) at Harvard Business School, holds an MBA from George Washington University, and a bachelor's degree in business administration from The American University. |
| | Spectral Medical Inc. | Stock Discussion ForumsShare | RecommendKeepReplyMark as Last Read |
|
| |
