No. of Recommendations: 4
Excellent info, Brian.

BF: Well, let me ask it a different way. So to me, the hard about wrapping my head about your business right now is your evaluation is generous valuation You're trading at like 30 times sales, which implies huge continued profit expansion.

Amen. I also don't see how the valuation can work out in a timely fashion, especially when they are so heavily invested in holding the physician's hand during seemingly every procedure. While that's certainly laudable from a patient standpoint, it means future growth will necessarily be much slower than one might hope, when considering the TAM potential that exists already. Meeting the demand for product is fairly easily addressed I would assume, (dumb again) but the people required to teach, assist and record? I'm not so sure about that one being easy to ramp up in a timely matter at all.

BF: The Impella is implanted for what, one day, seven days? I think you just got approval for a 30 days?

IG: ... A planned high risk PCI can be two to three hours. Now, if a physician deems it necessary that a patient needs support for longer because they're not comfortable weaning them off the device yet because for don't forget, these are typically really sick patients and they've just had a big procedure. And so in that case they might be on for another handful of hours, 12 hours a day, or whatever is needed. With cardiogenic shock it can be multiple days or even longer ...

I didn't know that! For some reason I assumed (dumb, I know) the time frame for placement would range from weeks to months, in case it was needed as "backup" (infection, suture failure, etc.)

Although it's my best performing company, I continue to sell down to 15% whenever ABMD hits 20% of my holdings. I can't go any higher because I can't mathematically support the price level. My bad. (Maybe. Or maybe my savior. :))

Nice work, Brian.

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