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Zacks Investment Research Initiates Coverage on LED Medical Diagnostics with Outperform Rating

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Zacks Investment Research has initiated coverage on LED Medical Diagnostics, symbol LMD on the TSX Venture Exchange, and symbol LEDIF on the OTCQX. Analyst Brian Marckx gives the company an outperform rating and a $2.00 target price, a premium of 308% over the $0.49 price on January 21st, the day the report was issued.

Additional Information:

Company: LED Medical Diagnostics
Website: http://www.ledmd.com/
Stock Symbol: TSXV: LMD
Date Published: Jan 22, 2014
Transcript: Available

Video Transcript:

I’m Lesley Mapstone for InvestmentPitch.com

Zacks Investment Research has initiated coverage on LED Medical Diagnostics, symbol LMD on the TSX Venture Exchange, and symbol LEDIF on the OTCQX.

Analyst Brian Marckx gives the company an outperform rating and a $2.00 target price, a premium of 308% over the $0.49 price on January 21st, the day the report was issued.

LED Medical Diagnostics develops LED-based visualization technologies for the medical industries.

The company’s VELscope® is the world’s leading device used for oral cancer screening with 13,000 units sold and 25 million scans completed since the launch in 2006.

The device is approved for sale in the United States, Canada and more than 20 other countries.

The tissue fluorescence visualization technology on which the VELscope is based was developed in partnership with the British Columbia Cancer Agency and is supported with more than $50 million in research provided by the National Institutes of Health and other leading institutions and universities.

Demand is fueled by a quantity of clinical data and recommendations from influential sources supporting use of the device as well as increased awareness of the dangers of oral cancer.

The company recently switched distributors in order to further expand their footprint, drive utilization and increase profitability.

Dr. David Gane, CEO of LED Medical stated "We are pleased to welcome Patterson Dental as our newest U.S. distribution partner for the VELscope® Vx family of products. Patterson Dental is one of the most respected names in North America, with an exemplary reputation for providing innovative products and focusing on the success of its customers. With more than 85 branch offices nationwide and over 1,500 sales representatives and equipment specialists, Patterson Dental is a valued distribution partner for LED Dental."

LED is also pursuing other complementary services and products including a recently launched pathology lab and development of a genetic oral cancer test.

Analyst Brian Marckx stated, “Despite their leading position, the market remains barely penetrated, offering significant upside opportunity. Applications for their technology into other cancers including skin and cervical provide potential market-expansion and additional growth opportunities.”

The shares are currently trading at $0.50, well below Zacks’ target of $2.00, and with 73 million shares outstanding, the company is capitalized at $36.5 million.

For more information, please visit the company’s website www.ledmd.com or contact Mark Komonoski at 403-255-8483 or email mark.komonoski@ledmd.com.

For more information about Zacks Small-Cap Research or to obtain their research, visit their website at www.zacks.com.

I’m Lesley Mapstone for InvestmentPitch.com
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This video is for information purposes only and it is not a recommendation to buy or sell any securities.