Profound Medical Corp PROF

Anyone following the strategy in the background ?

[MrMugsy]

So Profound has partnered with RadNet and Akumin Inc on the imaging centers side of things.

Akumin recently made a blockbuster acquisition (Alliance Healthcare Services).

As I understand it ... Akumin is now in 46 states, partnered with over 1,000 hospitals and has 188 imaging and radiation therapy clinics (as of September 2021).

One small problem ... Akumin is having some financial accounting issues of their own.  Management has a cease trade order from the OSC until the resolve their late financial reporting.  Akumin brought a problem forward related to some accounting it identified as of the purchase.

Hope that all gets reslovled quickly (November). 

Looks like one huge partnership brewing and if Akumin don't own or pay for the TULSA systems upfront ... I can see Akumin being interested in rolling out the systems.  Afterall, Akumin need to pay for the blockbuster acquisition and maybe Profound is a good vehicle to do so.

Thoughts ?

[HomerAndCompany]

Another great post MrMugsy! Profound's strategy of more aggressive expansion of recurring non-capital revenue in the US is bound to benefit from partner Akumin's own aggressive expansion. It can only be a positive for Profound, maybe a huge positive. Might the potential Akumin sees in treatment of prostate conditions with TULSA-PRO have provided some impetus to expand? Do you know how

[MrMugsy]

Yes ,,, my notes indicate that RadNet had 353 imaging centers around the USA (not all known as RadNet - kept pre-acquisition names) ... while Akumin had 170 imaging centers in eleven states. Akumin's state count now shows at 45 (46 at a second source) Employee count went from 175 to 3,700. (another count says>4,000) They now have more than 1,000 hospital and health system customers