Microcap medtech Dorsavi secures landmark $9 million contract
The medtech sector has been a strong performer in the last 12-18 months, but one medtech company, Dorsavi, was left behind by the pack. It has just started trending up though after recently announcing a landmark, three-year sales agreement worth at least $9M. This is in the UK with a network of physiotherapy clinics called YourPhysioPlan (YPP). Currently over 100 clinics have signed up with YPP and the group is planning to expand to more than 300 clinics over 12 months. To maintain exclusivity for use in the private clinical market, YPP is required to license or purchase 100, 300 and 600 of its 'ViMove' units in each of the three years, which should generate at least $9M in revenue. While DVL has recently had significant success in securing contracts for the OH&S market, this is the first major commercial contract in the medical market. We have increased our forecast of revenue from the medical market. We maintain our BUY recommendation for DVL and have increased our price target by 5 cents to A$0.80. Full research here: (VIEW LINK)
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