Repro Med Systems, Inc. Company profile
About Repro-Med Systems, Inc.
Repro Med Systems, Inc. is a medical technology company, which is focused on the developing, manufacturing, and commercializing of specialty infusion solutions. The Company designs, manufactures, and markets medical devices, primarily for the ambulatory infusion market. Its development and marketing focus is primarily concentrated on its mechanical infusion products. The Company's products include the FREEDOM Infusion Systems, which consist of the FREEDOM60 Syringe Driver, the FreedomEdge Syringe Driver, HIgHFlo Subcutaneous Safety Needle Sets and Precision Flow Rate Tubing. The FREEDOM System operates at a lower pressure and maintains a balance between what a patient’s subcutaneous tissues can absorb and what the system delivers. The Company performs product assembly, calibration, pre- and post-assembly quality control inspection and testing, and final packaging for all its products at its Chester, New York facility.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Repro-Med Systems, Inc. revenues decreased 3% to $23.5M. Net loss increased from $1.2M to $4.6M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Higher net loss reflects Selling, general and administrative increase of 49% to $17.9M (expense), Research and development increase of 91% to $2.5M (expense).
Equity composition
Common Stock $.01 Par, 11/10, 50M auth., 38,811,667 issd., less 2,275,000 shs. in Treas. @ $142K. Insiders control approx. 27.87 .Public Offering 11/82, $4.8M shares @ $.25 by State Street Securities. Preferred Stock 8% Cumulative $.01 Par, 2M auth., 10,000 issd.
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