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| 8-K - POSITRON 8-K 9-14-2010 - POSITRON CORP | form8-k.htm |
Exhibit 99.1
Investor Presentation
September 2010
September 2010
Patrick G. Rooney
// Chairman & CEO
Forward Looking Statements
Certain statements contained in this presentation may constitute "forward-looking
statements“. Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that does not
directly relate to any historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements as a result of various
important factors as disclosed in our filings with the Securities and Exchange
Commission located at their website (http://www.sec.gov). In addition to these
factors, actual future performance, outcomes, and results may differ materially
because of more general factors including (without limitation) general industry and
market conditions and growth rates, economic conditions, and governmental and
public policy changes. The forward-looking statements included in this presentation
represent the Company's views as of the date of this presentation and these views
could change. However, while the Company may elect to update these forward-
looking statements at some point in the future, the Company specifically disclaims
any obligation to do so. These forward-looking statements should not be relied upon
as representing the Company's views as of any date subsequent to the date of the
presentation.
statements“. Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that does not
directly relate to any historical or current fact. Actual results may differ materially
from those indicated by such forward-looking statements as a result of various
important factors as disclosed in our filings with the Securities and Exchange
Commission located at their website (http://www.sec.gov). In addition to these
factors, actual future performance, outcomes, and results may differ materially
because of more general factors including (without limitation) general industry and
market conditions and growth rates, economic conditions, and governmental and
public policy changes. The forward-looking statements included in this presentation
represent the Company's views as of the date of this presentation and these views
could change. However, while the Company may elect to update these forward-
looking statements at some point in the future, the Company specifically disclaims
any obligation to do so. These forward-looking statements should not be relied upon
as representing the Company's views as of any date subsequent to the date of the
presentation.
Company Snapshot
Positron Introduction
A molecular imaging company focused on nuclear cardiology
Positron Corporation offers a new perspective and unique solutions for
cardiac imaging through the production and distribution of molecular
imaging devices and radiopharmaceutical products
cardiac imaging through the production and distribution of molecular
imaging devices and radiopharmaceutical products
Positron Introduction
Positron is made up of 2 segments based on its proprietary
technologies:
technologies:
// Positron Emission Tomography (PET) imaging devices
// Radiopharmaceuticals for PET & SPECT imaging
// Automated unit dose delivery devices
// Radiopharmaceuticals (consumables)
History (1983-2005)
// Formed in 1983 based on PET technologies designed by
renowned cardiologist Dr. Gould of the University of
Texas
renowned cardiologist Dr. Gould of the University of
Texas
// One of only 4 companies in the world that manufacture
PET systems (GE, Siemens, Phillips)
PET systems (GE, Siemens, Phillips)
// Research & development company that offered the best
PET system developed for myocardial perfusion imaging
PET system developed for myocardial perfusion imaging
History (1983-2005)
// Under an unfavorable reimbursement policy and
expensive PET systems failed to claim a significant market
share in nuclear cardiology from an older and less
expensive technology - SPECT
expensive PET systems failed to claim a significant market
share in nuclear cardiology from an older and less
expensive technology - SPECT
// Tried to enter oncology imaging market but failed to
compete with more expensive optimized for oncology
PET/CT systems
compete with more expensive optimized for oncology
PET/CT systems
// Sold 27 PET systems only to very early adopters and was
never a true business enterprise with profit in mind
never a true business enterprise with profit in mind
Transition Period: 2005-2010
// 2005: New management, new capital, new strategy
// Outsourced manufacturing/formed joint venture with
leading medical equipment designer & manufacturer
Neusoft Medical Systems (China) with a goal to develop
state of the art PET system at a competitive price to meet
the demands created by industry’s anticipated shift to
cardiac PET
leading medical equipment designer & manufacturer
Neusoft Medical Systems (China) with a goal to develop
state of the art PET system at a competitive price to meet
the demands created by industry’s anticipated shift to
cardiac PET
// 2006: Acquired SPECT camera manufacturer to enhance a
product portfolio of cardiac imaging devices
product portfolio of cardiac imaging devices
// 2008: Acquired developer of automated devices for
distribution of radiopharmaceuticals for nuclear imaging
distribution of radiopharmaceuticals for nuclear imaging
Transition Period: 2005-2010
// 2010: strategic alliance with Covidien, one of the world
largest manufacturers of radiopharmaceuticals, for
development of an innovative distribution model of
radiopharmaceuticals based on Positron’s devices
largest manufacturers of radiopharmaceuticals, for
development of an innovative distribution model of
radiopharmaceuticals based on Positron’s devices
// 2010: acquired pharmaceutical manufacturing plant for
developing of radiopharmaceuticals and contract
manufacturing
developing of radiopharmaceuticals and contract
manufacturing
Major Results
// Developed state of art PET scanner, the Attrius®, received
FDA approval in 2009
FDA approval in 2009
// The Attrius® received Frost and Sullivan’s “Most
Innovative Medical Device of the Year” award for 2010
Innovative Medical Device of the Year” award for 2010
// Sold 9 PET systems and expect to sell 4-6 more in 2010
40 in 2011 and 120 in 2012. All systems sold with 3-5 year
service contracts
service contracts
// The Nuclear Cardio-Assist™ automated unit dose delivery
device for distribution of COVIDIEN radiopharmaceuticals
to be deployed immediately
device for distribution of COVIDIEN radiopharmaceuticals
to be deployed immediately
Major Results
// Acquired full scale radiopharmaceutical manufacturing
plant advances pharmaceutical growth plans 12 months
ahead of schedule
plant advances pharmaceutical growth plans 12 months
ahead of schedule
// In 2010, revenue is expected to be at least 4 times higher
than in 2009
than in 2009
// Positron has recently satisfied all obligations and currently
carries no debt
carries no debt
Positron Products
Attrius®
// Only stand-alone PET scanner in the world. The Attrius® is
optimized for cardiac imaging - the scanner of choice for
nuclear cardiologists seeking high quality PET imagery and
cardiovascular specific interpretation tools
nuclear cardiologists seeking high quality PET imagery and
cardiovascular specific interpretation tools
// Combines superior technology with Positron’s proprietary
disease management software
disease management software
// Low price, small footprint, ease of service, low cost of
maintenance and 24/7 technical assistance
maintenance and 24/7 technical assistance
Attrius®
// Can also imagine oncology studies which makes it the
right system for small market multimodality hospitals and
imaging services
right system for small market multimodality hospitals and
imaging services
// Significantly reduces radiation exposure compared to
traditional PET/CT scanners
traditional PET/CT scanners
// Positron has preferential pricing that gives competitive
advantages to the Company and its customers
advantages to the Company and its customers
Cardio-Assist™
Cardio-Assist™
// Proprietary automated radiopharmaceutical unit dose
delivery device for on-site compounding and
dispensing of radiopharmaceutical agents used
in molecular imaging
delivery device for on-site compounding and
dispensing of radiopharmaceutical agents used
in molecular imaging
// Eliminates the need for a centralized radiopharmacy
and multiple daily deliveries
and multiple daily deliveries
// Provides 24/7 availability of radiopharmaceuticals,
control of the process back to the medical
practice, better patient management,
elimination of personnel radiation exposure,
less waste and less costs
control of the process back to the medical
practice, better patient management,
elimination of personnel radiation exposure,
less waste and less costs
Cardio-Assist™
// A compounding aseptic contaminate isolator -
a platform for governmental regulatory
compliance guidelines such as USP 797
compliance guidelines such as USP 797
// Will provide Positron with recurring revenue from
radiopharmaceutical agents used by imaging
practices
radiopharmaceutical agents used by imaging
practices
Market Opportunity
// Over 7,000+ nuclear imaging facilities - potential candidates
for the evolution of PET imaging and direct distribution of
radiopharmaceuticals
for the evolution of PET imaging and direct distribution of
radiopharmaceuticals
// Nuclear Cardiology - a market demand is shifting from SPECT
to PET:
to PET:
// Reimbursement policy recently switched in favor of PET
// Worldwide shortage of Tc-99m - the major
radiopharmaceutical for SPECT
// Many new single dose cardiac PET imaging agents are
in development pipe-lines of the largest
radiopharmaceutical companies
Market Opportunity
// In U.S. there are 14,000 SPECT cameras and more than 800
replacement SPECT cameras installed every year (Global
Industry Analysis, 2008), the Company’s conservative
estimate of the market for dedicated cardiac PET scanners
in U.S. is to exceed $1B in device sales over the next 5 years
replacement SPECT cameras installed every year (Global
Industry Analysis, 2008), the Company’s conservative
estimate of the market for dedicated cardiac PET scanners
in U.S. is to exceed $1B in device sales over the next 5 years
// Nuclear cardiology radiopharmaceuticals - sales are
expected to reach $2.1B by 2014 (Bio-Tech Systems, 2008)
expected to reach $2.1B by 2014 (Bio-Tech Systems, 2008)
// Market has never been stronger for cardiac PET and
efficient radiopharmaceutical distribution
efficient radiopharmaceutical distribution
Competitive Advantages
// Command of market/World leader in cardiac PET
// Unique radiopharmaceutical distribution model
// Proprietary technologies
// Earlier adopter of the movement from SPECT to PET
// Experienced PET and pharmaceutical team
// Positron’s product lines directly address the intense
scrutiny in the marketplace for affordable healthcare
scrutiny in the marketplace for affordable healthcare
Core Focus
// Core business focus - provide unique and innovative
solutions for the nuclear cardiology community in
molecular imaging technologies and radiopharmaceutical
supply
solutions for the nuclear cardiology community in
molecular imaging technologies and radiopharmaceutical
supply
// Business objective - to become a sustained long term value
creator for shareholders
creator for shareholders
// Business strategy - to maximize market share in nuclear
cardiology by offering cost-effective systems and value
added PET and radiopharmaceuticals to end-users
cardiology by offering cost-effective systems and value
added PET and radiopharmaceuticals to end-users
// Business model - evolution from pure sales of devices to a
recurring cash generating model of providing end-users
with solutions of systems, services and consumables
recurring cash generating model of providing end-users
with solutions of systems, services and consumables
Growth Strategy
// Explore additional strategic interests that advance PET
imaging systems and radiopharmaceutical distribution
imaging systems and radiopharmaceutical distribution
// Evaluate all organic and strategic partnership opportunities
// Engage in more robust business development opportunities
// Cardiologist practices
// Radiopharmaceutical distribution
// Radiopharmaceutical manufacturing
// Expand product line throughout the molecular
imaging industry
imaging industry
Note: The estimated backlog is 6, 12 and 22 PET systems in 2010-2012
Sales Mix
Management Team
// Patrick G. Rooney 47, Chief Executive Officer has served as Chairman since 2004. Mr. Rooney has an extensive financial
background in early stage companies. Mr. Rooney serves on the board of directors for Positron’s development and
manufacturing joint venture with Neusoft Positron Medical Systems Co, LTD. Since March 2003, Mr. Rooney has been
managing director of Solaris Opportunity Fund L.P., Positron’s largest investor.
background in early stage companies. Mr. Rooney serves on the board of directors for Positron’s development and
manufacturing joint venture with Neusoft Positron Medical Systems Co, LTD. Since March 2003, Mr. Rooney has been
managing director of Solaris Opportunity Fund L.P., Positron’s largest investor.
// Joseph G. Oliverio 40, Chief Technical Officer, Director of Clinical Programs, has served as a Director since 2005. Mr. Oliverio
has been instrumental in guiding Positron’s PET technology. Mr. Oliverio is a Certified Nuclear Medicine Technologist and
has performed over 13,000 cardiac and/or oncology scans, imaged with Positron devices. Mr. Oliverio was a pioneer in
operating the first freestanding heart disease reversal and prevention clinic, offering cardiac PET combined with an innovative
heart disease reversal program.
has been instrumental in guiding Positron’s PET technology. Mr. Oliverio is a Certified Nuclear Medicine Technologist and
has performed over 13,000 cardiac and/or oncology scans, imaged with Positron devices. Mr. Oliverio was a pioneer in
operating the first freestanding heart disease reversal and prevention clinic, offering cardiac PET combined with an innovative
heart disease reversal program.
// Timothy M. Gabel 40, Director of Engineering and Service, since 2006. Mr. Gabel has led Positron through all aspects of the
technology transfer, product development and implementation of the Attrius® with the Company’s joint venture,
Neusoft Positron Medical Systems. Mr. Gabel specializes in international technical project management, product research &
development and manufacturing implementation.
technology transfer, product development and implementation of the Attrius® with the Company’s joint venture,
Neusoft Positron Medical Systems. Mr. Gabel specializes in international technical project management, product research &
development and manufacturing implementation.
// Scott Stiffler 41, Director of Manufacturing, Quality Control and Regulatory Affairs since 2008. Mr. Stiffler has extensive
experience in device and drug manufacturing. Mr. Stiffler has lead Positron’s expansion into radiopharmaceuticals and has
the experience to execute all aspects of the Company’s pharmaceutical strategy from automated delivery devices to
manufacturing radiopharmaceutical generators and isotopes.
experience in device and drug manufacturing. Mr. Stiffler has lead Positron’s expansion into radiopharmaceuticals and has
the experience to execute all aspects of the Company’s pharmaceutical strategy from automated delivery devices to
manufacturing radiopharmaceutical generators and isotopes.
// Corey N. Conn 48, Chief Financial Officer since 2005 and has served as a Director since January 2008. Mr. Conn brings
extensive financial accounting practices and public company experience.
extensive financial accounting practices and public company experience.
// John Zehner 43, R.PH., RSO joined Positron through an acquisition of his company Dose Shield, Inc. in 2008. Mr. Zehner was
the creator of Positron’s automated unit dose preparation and delivery device, and has over 18 years of experience in the
Nuclear Medicine field. Mr. Zehner has achieved the Company’s goal of delivering a commercially acceptable Nuclear
Cardio-Assist™ device and opening Positron’s radiopharmaceutical manufacturing facility.
the creator of Positron’s automated unit dose preparation and delivery device, and has over 18 years of experience in the
Nuclear Medicine field. Mr. Zehner has achieved the Company’s goal of delivering a commercially acceptable Nuclear
Cardio-Assist™ device and opening Positron’s radiopharmaceutical manufacturing facility.
Investment Highlights
// Attractive growth prospects driven by paradigm shift in
in nuclear cardiology to more efficient imaging technologies
(PET), better radiopharmaceutical supply and reduction of
radiation exposure
in nuclear cardiology to more efficient imaging technologies
(PET), better radiopharmaceutical supply and reduction of
radiation exposure
// Technology leadership/Products command their market
// Recurring cash-generating business model
// Turn-around in revenue in 2009/profitability expected in 2011
// Zero debt/clean balance sheet
// Experienced management team
// investor@positron.com
// 317.576.0183
// www.positron.com
// 317.576.0183
// www.positron.com