Impedimed (IPD) is an Australian small company that is an emerging global leader in the medical device space with a focus on the accurate measurement of internal bodily fluid and tissue. It is one of the top five holdings for the UBS Australian Small Companies Fund and has been owned for around 18 months. The company has unique BioImpedance Spectroscopy (BIS) technology that uses multiple electrical frequencies to significantly improve the accuracy of its measurements. The technology can provide immediate and very accurate measurements of extracellular (internal) fluids, levels of body fat and muscle and other body composition and wellness measures. The technology’s first application is in the field of lymphedema, where protein rich bodily fluid is retained and builds up in limbs causing irreversible swelling and disfigurement (greatly impacts post-breast cancer patients who experience some lymph node damage or removal). Keep reading for more on Impedimed.