MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL MEDICAL SOLUTIONS AUSTRALIA PTY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12 December 1995 |
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Legal Form : |
Proprietary Company, Limited By Shares |
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Line of Business : |
Provider of prepared time-critical radio-pharmaceuticals
and comprehensive value-added pharmacy services |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REGISTERED NAME: |
GLOBAL MEDICAL
SOLUTIONS AUSTRALIA PTY LTD |
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AUSTRALIAN
COMPANY NUMBER: |
072 147 561 |
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AUSTRALIAN
BUSINESS NUMBER: |
66 072 147 561 |
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OPERATING
ADDRESS: |
ARNCLIFF, NSW
2205 |
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REGISTERED
ADDRESS: |
SYDNEY, NSW 2000 |
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OTHER TRADING
NAMES: |
Nil |
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TELEPHONE
NUMBER: |
(02) 9503 8100 |
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WEB SITE
ADDRESS: |
www.gms-aus.com |
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DATE OF
INCORPORATION: |
12 December 1995 – Incorporated in |
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CHANGE OF NAME: |
30 July 2003 - To present name. |
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PAID CAPITAL: |
$100,000 in $1 shares. |
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DIRECTORS: |
JAY SIMON Overseas resident HAIG Overseas resident JOHN CHARLES
HODDER CROYDON, NSW 2132 |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
JOHN CHARLES
HODDER |
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AUDITORS: |
Not shown |
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REGISTERED
CHARGES: |
Nil |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS /
DEFAULTS: |
Nil |
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EMPLOYEES: |
70 – |
PARENT COMPANY
SYNCOR OVERSEAS LIMITED
ACTIVITIES
The subject is a premier provider of prepared time-critical radio-pharmaceuticals and comprehensive value-added pharmacy services which meet the needs of the professional health care community and their patients.
The subject undertakes the following:
Provides Global Medical Solution's delivered unit
dose service.
Manufacturing quality radiopharmaceuticals.
Safety controls, accessories and supplies for
nuclear medicine and beyond.
Hot Lab equipment, physics related products, CT and MRI gear.
Operations are conducted from premises situated at the heading address.
The company has branches in Brisbane, Qld;
The subject employs 70 in activities.
HISTORY
The subject was incorporated in
Australian Company Number: 072 147 561.
Paid capital $100,000 in 100,000 shares paid to $1 each.
Shares are held by:
SYNCOR OVERSEAS LIMITED 99,999
SYNCOR
The above information is in accordance with the last Company Statement Annual
lodged with the Australian Securities and Investments Commission and compiled
at report date.
Operations of the company were commenced 10 yeas ago.
By virtue of the shareholding the subject is
a subsidiary of Syncor Overseas Limited. This company maintains it’s Registered
Office at
The ultimate holding company is now Cardinal
Health Inc, this company having acquired Syncor as of 1 January 2003.
Cardinal Health is a leading
provider of products and services supporting the health care industry. Cardinal
Health companies develop, manufacture, package and market products for patient
care; develop drug-delivery technologies; distribute pharmaceuticals,
medical-surgical supplies and laboratory supplies; and offer consulting and
other services that improve quality and efficiency in health care.
Fact Sheet
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Market Focus |
Healthcare |
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History |
Founded in 1971 by Robert D. Walter |
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Number of Employees |
50,000 (42% live outside the |
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Annual Sales |
$44 billion |
Facts:
Each day, Cardinal Health:
I.
Makes over 33,000 deliveries of
pharmaceutical and medical-surgical products
II.
Picks more than 2.5 million
pharmaceutical products
III.
Manufactures more than 3 million
surgical products
IV.
Manufactures or packages nearly 500
million doses of pharmaceutical products
V.
Dispenses 4 million doses of medication
and 1 million medical supplies through its automated
dispensing systems
Listings
I.
#19 on the 2002 Fortune 500, April 14,
2003
II.
#11 on Business Week's “Best Performing
Companies”, March 24, 2003
III.
Top 100: InternetWeek's top commercial
web innovators
IV.
The Forbes Platinum List: The Best Big
Companies
V.
#54 on the Forbes 500, March 28, 2003
DIRECTORS
JAY SIMON was born on 1
September 1958 and was appointed to the board of directors on 8 October 2003.
HAIG ARAM
BAGERDJIAN was born on 6 March 1956 and was appointed to the board of directors on 8
October 2003.
JOHN CHARLES
HODDER was born in Sydney, NSW on 8 March 1948 and was appointed to the board
of directors on 10 January 2001. He is also the Company Secretary, having been
appointed to this position on 10 January 2001.
BANK
COMMONWEALTH BANK OF
ARNCLIFF, NSW 2205
The bank does not hold a Registered Charge over company assets.
TRADING
Trade references could not be provided during the current investigation.
FINANCE
Due to amendments to the Corporations Law by
the First Corporate Law Simplification Act 1995, subject is not required to
lodge financial statements with the Australian Securities & Investment
Commission.
disclose the following inquiries in relation
to finance applications over the last 12 months:
On 29 June 2007 to Capital Consumer Finance
NSW for Leasing.
On 1 March 2007 to Ford Credit
On 30 October 2006 to Suncorp Leasing for
Hire Purchase for an amount of $28,639.
On 29 June 2006 to Suncorp Leasing for
Leasing for an amount of $22,700.
REGISTERED CHARGES
There are no Registered Charges existing over the subject’s assets.
RECORDED ACTIONS
Nothing of an adverse nature has been recorded against the subject.
INVESTIGATION
An interview was conducted with the Financial Controller in June 2007.
At this time he confirmed operational and trading details and advised the
following:
Sales for the last financial year were in the vicinity of $18,000,000.
All premises utilised by the subject are leased.
However, further financial information could not be provided.
Enquiries made with trade sources failed to trace any additional
information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if
any, stands in the subject’s name. This
can be undertaken on request.
CONCLUSION
The subject was incorporated in
Paid capital $100,000 in 100,000 shares paid to $1 each.
The subject is a premier provider of prepared time-critical radio-pharmaceuticals and comprehensive value-added pharmacy services which meet the needs of the professional health care community and their patients.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)