Baird Medical Investment Holdings Ltd (NASDAQ: BDMD) soared on Friday after revealing that its representatives had been rubbing shoulders with big shots at the 43rd annual J.P. Morgan Healthcare Conference in California. The medical devices company completed its IPO last fall.
Baird focuses on treating an assortment of conditions with its microwave ablation technology devices. They received FDA clearance in late 2023. These can be used for liver cancer, non-malignant breast diseases, common uterine fibroids (benign tumours in the uterus) and thyroid nodules.
For liver cancer, the heat generated from the technology’s microwave energy is capable of destroying tumours.
“With microwave ablation, the surgeon inserts a small laparoscopic port or open incision to access the tumour,” the University of California San Francisco’s Department of Surgery has noted. The tumour’s location has been pinpointed with a CT scan prior.
“A thin antenna, which emits microwaves, is then inserted into the tumour and the probe produces intense heat that ablates [destroys] tumour tissue, often within 10 minutes.”
J.P. Morgan’s annual invite-only conference is one of the most prestigious in the world. There are multiple presentations and discussions from healthcare industry leaders. It is also considered to serve as an excellent networking opportunity for investors and companies like Baird. Approximately 8,000 people attended this year.
“Being in San Francisco during the J.P. Morgan Healthcare Conference provided a valuable opportunity to engage with shareholders, innovators and advisors in the healthcare sector,” Chairwoman, Haimei Wu, said in a statement.
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Baird sponsors physician training in New Orleans
Over the past few months, the malignant and benign tumour treatment specialist has been helping to educate Louisiana doctors about the technology’s ability to treat thyroid nodules.
“Microwave ablation of thyroid nodules is a novel, safe, and effective method for treating appropriately selected patients,” Dr. Emad Kandil, a professor at Tulane University School of Medicine in New Orleans, said last month.
Kandil leads these educational sessions, which are sponsored by Baird.
“By supporting specialized programs like this, we are empowering physicians with the practical expertise needed to refine patient care and drive broader adoption of minimally invasive thyroid treatments,” Wu said on Monday.
2024 yielded some good numbers
In H1 last year, Baird reported significant financial improvements.
Revenue increased by 13.8 per cent year-over-year to US$13.1 million. Meanwhile, gross profit rose by 20.9 per cent to US$11.5 million. And, operating income went up by 70 per cent to US$5.1 million.
Baird was founded in Guangzhou, China in 2012 and eventually expanded into the United States. The company is a leading supplier of microwave ablation devices among Chinese customers. It holds 35 per cent of the market share in the Asian nation. About 430 hospitals throughout 21 Chinese provinces utilize Baird’s tech.
rowan@mugglehead.com
