I’ve noticed a few more SeekingAlpha articles (here and here) discussing the investment in $INFU, including discussions about the result of the CMS Round 1 Recompete. If you would like to read more about the Recompete process, you can visit the CMS website. In a nutshell, the Durable Medical Equipment suppliers for patients using Medicare and Medicaid were included in the new Recompete (competitive bidding) process. The goal of the bidding process is to finalize a price for services and equipment that for reimbursement by the government. Each item category includes items listed in a Healthcare Common Procedure Coding System (HCPCS). So, the...
InfuSystem Holdings ($INFU) 2013 Annual Meeting
I took a few days off from work around Labor day to go visit my mom in Vermont. I hadn’t been back to Vermont for several years, so I wanted to get back before it was too cold for my liking. During this time, $INFU had their annual meeting. I did not attend the meeting since I was flying to Vermont, but would have liked to have gone. I would love to hear from anyone that attended the meeting and would like to give me a summary. Management also released an 8-k with an investor presentation attached! It is...
Update on $INFU and Ryan Morris
Due to travel and my day job, I have not had a lot of time to keep up with the blog. Over the past weeks, I have been keeping track of my investments and potential ideas, but just haven’t had enough time to put something on the blog. It could also have to do with the stock market’s continual rise and not finding too many interesting ideas. I’ve written up InfuSystems ($INFU) awhile back and with the release of their latest quarterly earnings, some new developments have happened that create an interesting situation. First, the results for the first...
Update on $INFU based upon 2012 10-K
Infusystem ($INFU) released their 2012 10-K on March 28th. This is the first annual report released since the new management team took over in the spring of 2012. Lots of changes have occurred throughout the year, so I was anticipating the release of this report. You can read my initial writeup on INFU to get some background information. A quick summary of the situation is that the old management group did a very poor job at creating shareholder value for a business that generated high gross margins and growing revenues, ~10% per year. An activist shareholder group took control of the board,...
$INFU InfuSystem Holdings – Interesting Micro Cap Opportunity
InfuSystem Holdings ($INFU) is a company that I ran across when I was reading about Ryan Morris in Businessweek. Ryan Morris is a young activist investor, and Businessweek wrote up a story about him and a couple of his activist forays. One of those companies was InfuSystem Holdings, so I decided to do some more research about the company to see if it was a good opportunity. Ryan Morris is the managing partner at Meson Capital Partners. Meson had an outstanding year in 2009, which you should read the annual partnership letter, as the partnership gained 753% for the...