ifa systems has a Majority Shareholder as a Strategic Partner with a strong footprint in Ophthalmology
With Topcon Medical, ifa systems AG (ISIN DE0007830788, Entry Standard, IS8 GR) has a prominent majority shareholder since December 2015.
ifa systems AG will report the highest profit in its Corporate history in spite of high expenses and top management involvement in connection with the two new strategic co-operations (Topcon and Merge Healthcare). We expect an operating profit of ca. € 2.6 Mill. to be reported for business year 2015.
The most recent international benchmark projects completed at two prominent eye Centers[Oogziekenhuis Rotterdam (OOG) and at Singapore National Eye Center] have provided evidence that ifa systems has the most complete EMR (electronic medical record) available in the marketplace.
With its EMR technology, ifa systems AG provides high-end Health-IT and data management solutions at economically reasonable prices for surgeons specialized in Ophthalmology.
We have adjusted the fair value of ifa systems stock price to €13.50. Our rationale: Management of ifa systems is able to manage its cyclical project business with more and more comfort and the partnership with Topcon will provide a higher level of stability. We also considered increased sector multiples. We repeat our BUY recommendation.
Since 2007, BankM AG (Frankfurt am Main, Germany) is the partner of small and medium-sized enterprises and specializing in capital market financing with its experienced, interdisciplinary team. SME customers benefit from individual service and rapid access to selected investors that fit their needs. BankM's services include capital market advisory, arranging IPOs and capital increases for equity financing, debt advisory and debt capital mediation, designated sponsoring and research as well as M&A, hereby specializing in the identification of suitable strategic partners in China.
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