Friday, October 25th, 2019 - Sector Reports

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Novita Healthcare Explodes On Tali Detect Technology U.S Deal

Novita Healthcare Ltd (ASX: NHL) shares surged by more than 100% on the announcement that the company’s groundbreaking technology TALi Detect technology can start reporting using CP Code 96146 in the U.S. The approval is a milestone achievement as it paves the way for the company to enjoy patient reimbursements.

The U.S clinical market represents an exciting opportunity given that 8-10 million children are screened every year. The fact that each patient requires two to three TALi Detect screenings presents a unique opportunity for the company to generate significant revenues. Clinician payment is currently capped at $36.04.

Novita has already hit the ground running as it seeks to deploy relevant information to physicians in a bid to enhance the use of the TALi Detect technology in more healthcare facilities in the U.S. the technology has already posted positive results as part of clinical trials in Australia. The technology has so far proved to be reliable in assessing the efficacy and detecting differences in attention skills as how pliable children’s brain is during the initial stages of development.

CSG limited Rallies on Takeover News

CSG Limited (ASX: CSV)  rallied by more than 20% after it emerged it is an acquisition target. Fuji Xerox Asia Pacific Limited, a subsidiary of Fuji Xerox, has signed a scheme implementation deed as it seeks to acquire 100% of the company’s shares, subject to shareholder and court approval.

Under the terms of the Scheme Agreement, CSG Limited shareholders are to receive A$0.31 for each CSG share held. Completion of the agreement will result in CSG becoming a wholly-owned subsidiary of Fuji Xerox Asia Pacific. The Scheme Agreement values CSG Limited at $140.8 million, with an enterprise value of $181.6 million.

CSG Limited board has approved the transaction in part because the $0.31 a share deal represents a 31.9% premium to CSG closing price of $0.235 as of October 23, 2019.  In addition, the 100% cash consideration provides shareholders certainty of value and an opportunity to realize the value in capital invested. The board also expects the scheme agreement to provide growth opportunities to 670 CSG Limited employees.

Kibaran Resources Name Change Push

Kibaran Resources Ltd (ASX: KNL) was also up by more than 20% after announcing plans to change its name to EcoGraf Limited. The name change drive is part of an effort that seeks to reflect the company’s business that focuses on high quality, natural flake, and graphite products.

The company has already invested over $25 million over the past six years, an investment drive that has resulted in two highly attractive graphite businesses ready to serve prospective customers in Asia and Europe.  The name change should provide brand recognition in new markets, especially in the production of lithium-ion batteries for use in electric vehicles and anode materials.

The Epanko mining project in Tanzania is at the heart of Kibaran Resources in the race to come up with various graphite products to take advantage of the growing market opportunity. The company is already in advanced stages for bank funding processes as it also continues to implement Tanzania mining regulations.

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Rick Langdon
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