Quick Synopsis

Product is not as good/ accurate as current cervical screening methods (pap smear etc). The business is based on its cost effectiveness and is targeting developing countries where total Health Care spend does not warrant having full cervical screening programs as they are in the western world.

The business used to be listed in Au, was once worth about $200m (equity). GFC came through wiped them out (well thats the story they told me)

I believe it is an old hand/ owner of a debt facility wanting to reinvigirate the company and also wanted to sell down some of his stake at the same time they were rasingin new equity from NZ invetsors as the AU market was exhausted as a place to raise capital (ie everyone said no).

I actually have no idea why someone invested in the first place to warrant a compliance listing, however they got there.

The whole R&D team etc was displaced after the business went bust a few years ago. It is a business full of risk, in no way comparable with PEB except for possibly the industry.

This business will never operate as a going concern (in my view) due to the relative perofrmance of the technology vs other market options. Therefore would be very unlikely to invest based on that principle.

Also unsure how much developing countries would be willing to invest in cervical screening programs, cant imagine its top of the priority list anyway.