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MIRA INFORM REPORT
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Report No. : |
506078 |
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Report Date : |
28.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NOVA BIOMEDICAL CORPORATION |
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Registered Office : |
44 School Street Suite 325, Boston, MA
02108 USA |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
04.08.1976 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is vitro diagnostic company, develops,
manufactures, and sells blood testing analyzers and diagnostic products for
healthcare companies. |
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No. of Employees : |
1,100 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
-- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED
STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $59,500. US firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals, and medical, aerospace, and military equipment; however, their advantage has narrowed since the end of World War II. Based on a comparison of GDP measured at purchasing power parity conversion rates, the US economy in 2014, having stood as the largest in the world for more than a century, slipped into second place behind China, which has more than tripled the US growth rate for each year of the past four decades.
In the US, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, businesses face higher barriers to enter their rivals' home markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual development of a "two-tier" labor market in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. But the globalization of trade, and especially the rise of low-wage producers such as China, has put additional downward pressure on wages and upward pressure on the return to capital. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income.
Imported oil accounts for more than 50% of US consumption and oil has a major impact on the overall health of the economy. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. Because the US economy is energy-intensive, falling oil prices since 2013 have alleviated many of the problems the earlier increases had created.
The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the US into a recession by mid-2008. GDP contracted until the third quarter of 2009, the deepest and longest downturn since the Great Depression. To help stabilize financial markets, the US Congress established a $700 billion Troubled Asset Relief Program (TARP) in October 2008. The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009, Congress passed and former President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012, the Federal Government reduced the growth of spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries.
Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through FY 2018, the direct costs of the wars will have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection and Affordable Care Act (ACA), a health insurance reform that was designed to extend coverage to an additional 32 million Americans by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010.
In July 2010, the former president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short-term rates near zero until unemployment dropped below 6.5% or inflation rose above 2.5%. The Fed ended its purchases during the summer of 2014, after the unemployment rate dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of GDP. In December 2015, the Fed raised its target for the benchmark federal funds rate by 0.25%, the first increase since the recession began. With continued low growth, the Fed opted to raise rates several times since then, and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the Tax Cuts and Jobs Act, which, among its various provisions, reduces the corporate tax rate from 35% to 21%; lowers the individual tax rate for those with the highest incomes from 39.6% to 37%, and by lesser percentages for those at lower income levels; changes many deductions and credits used to calculate taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do not obtain the minimum amount of health insurance required under the ACA. The new taxes took effect on 1 January 2018; the tax cut for corporations are permanent, but those for individuals are scheduled to expire after 2025. The Joint Committee on Taxation (JCT) under the Congressional Budget Office estimates that the new law will reduce tax revenues and increase the federal deficit by about $1.45 trillion over the 2018-2027 period. This amount would decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
NOVA BIOMEDICAL CORPORATION |
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Trade Names: |
NOVA BIOMEDICAL CORPORATION |
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ID: |
042592580 |
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Date Created: |
1976 |
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Date Incorporated: |
04-08-1976 |
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Legal Address: |
44 SCHOOL STREET SUITE 325, BOSTON, MA
02108 USA |
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Operative Address: |
200 Prospect Street Waltham, MA 02454-9141 United States |
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Telephone: |
781-894-0800 |
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Fax: |
781-894-5915 |
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Legal Form: |
CORPORATION |
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Email: |
info@novabiomedical.com |
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Registered in: |
MASSACHUSETTS |
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Website: |
www.novabiomedical.com |
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Contact: |
Nick Theodore - Senior Vice President |
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Staff: |
1,100 |
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Activity: |
SIC Code 2833, Medicinal Chemicals and
Botanical Products NAICS Code 325411, Medicinal and
Botanical Manufacturing |
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Banks: |
BANK OF AMERICA MATERION LARGE AREA COATINGS LLC TRIDENT MACHINE TOOLS ABSOLUTE HAITIAN CORPORATION |
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History: |
Nova Biomedical Corporation was incorporated
in 1976 and is headquartered in Waltham, Massachusetts. |
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Key Developments: |
Nova Biomedical Launches New Veterinary Critical
Care Analyzer Stat Profile Prime Plus VET New technologies improve testing, animal
care, and profitability Waltham, MA – Nova Biomedical is pleased
to announce the domestic and international launch of Stat Profile Prime Plus
VET, the latest addition to the Stat Profile line of veterinary critical care
analyzers. Prime Plus VET is the most comprehensive veterinary critical care
analyzer, offering 22 critical care tests including... Nova Biomedical Launches New CE-Marked
Critical Care Analyzer Stat Profile Prime Plus New technologies improve and simplify
testing Nova Biomedical is pleased to announce
that a new addition to the Stat Profile line of blood gas critical care
analyzers, Stat Profile Prime Plus, has gained CE mark certification and is
now available in all CE regulated countries. Prime Plus features... Nova Biomedical Announces BioProfile®
FLEX2 Cell Culture Analyzer Integration With the ambr® 15 cell culture
Microbioreactor System from Sartorius Stedim Biotech Waltham, MA – Nova Biomedical today
announced a collaboration with Sartorius Stedim Biotech (SSB) for integration
of the Nova BioProfile FLEX2 comprehensive cell culture chemistry analyzer
with the ambr microbioreactor system. Under the terms of the agreement,
technical experts from Nova and SSB collaborated to combine the cell culture
analysis capabilities of the BioProfile FLEX2 with the automated sampling
functions and control software of the ambr® 15 cell culture system... |
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PRINCIPAL
ACTIVITY
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Nova Biomedical Corporation, an in vitro
diagnostic company, develops, manufactures, and sells blood testing analyzers
and diagnostic products for healthcare companies. |
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Products/Services description: |
It
offers hospital blood gas and critical care analyzers, chemistry and cell
analyzers for biotechnology, self-testing diabetes monitoring systems,
hospital point-of-care connectivity meters and strips, other point-of-care
analyzers, veterinary analyzers, and lactate measuring systems for athletes.
The company also provides hospital glucose monitoring systems, hospital
glucose/ketone monitoring systems, point-of-care whole blood creatinine and
eGFR testing products, electrolyte/chemistry analyzers, prime electrolyte
analyzers, blood lactate meters for sports training and conditioning, muscle
performance indicators, and blood beta hydroxybutyrate meters. In addition,
it offers peritoneal dialysis systems, pharmaceutical compounders, cardiac
and respiratory sufficiency monitors, noninvasive bilirubin analyzers,
corneal topographers, hemodialyzer components, POC coagulation analyzers,
portable home IV pumps, bone healing devices, tissue regeneration systems,
and more. Further, the company provides contract manufacturing services. |
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Brands: |
NOVA BIOMEDICAL |
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Sales are: |
Wholesale |
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Clients: |
Distribuidor Cientifico Pallach SA De Cv Ingenieria De Diagnostico Clinico Sociedad
Anonima Cerrada |
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Suppliers: |
Truly Instrument Ltd Shanghai Carelife International Trading
Co., Ltd. Askey Technology (Jiangsu) Ltd. Global Instrumentation Corp Nova Biomedical Taiwan Corp |
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Operations area: |
National and International |
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The company imports
from |
CHINA TAIWAN |
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The company exports to |
MEXICO PERU |
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The subject employs |
1,100 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
200 Prospect Street Waltham, MA 02454-9141 United States |
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Comments on Address: |
- |
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Branches: |
Nova Biomedical Corporation 39 MANNING RD BILLERICA, MA, 01821-3925 United States |
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Related Companies: |
Brazil Nova Biomedical Diagnósticos Médicos e
Biotecnologia Ltda Rua Massena, 107, Jardim Canadá – Nova Lima
– MG – CEP: 34007-746 Nova Biomedical Canada, Ltd. 17-2900 Argentia Road Mississauga, Ontario L5N 7X9 Canada France Nova Biomedical France Parc Technopolis Bât. Sigma 3 Avenue du Canada 91940 Les Ulis Courtaboeuf, France Germany Nova Biomedical GmbH Hessenring 13 A, Geb. G 64546 Mörfelden-Walldorf Italy Nova Biomedical Italia srl Via IV Novembre 92 20021 Bollate (MI) Japan Nova Biomedical K.K. Mita 43MT Building-7F 13-16 Mita 3-chome Minato-ku Tokyo 108-0073, Japan |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose
information on shareholders. We were not able to confirm major holders. |
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Management: |
Nick Theodore - Senior Vice President James Fowler - Executive Vice President Lou Borrelli – Senior Vice President and
Chief Financial Officer Hal Greenblatt – Chief Information
Officer Ms. Kathy Nicholson - Vice President of
Human Resources Mr. Chung Chang Young - Vice President
of Research and Development Mr. Howard Deahr - Vice President of
North American Sales Dr. Jeffrey A. DuBois Ph.D. - Vice
President of Medical and Scientific Affairs |
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FINANCIAL
INFORMATION
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The company does
not make its financial statements public. The following information has been
provided by private sources: |
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USD 2016 |
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Sales |
306.340.000 |
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Cash flow |
Normal |
LEGAL
FILINGS
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PATENTS |
Polarographic cell Patent number: 4950379 Abstract: A two electrode assembly in a
polarographic cell includes a sensor electrode and a silver/silver chloride
reference electrode in which silver metal is in contact with a substantial
reservoir of silver chloride. Type: Grant Filed: October 2, 1989 Date of Patent: August 21, 1990 Assignee: Nova Biomedical Corporation Inventors: Chung C. Young, James E.
Fowler, Alan R. Silverman Glucose biosensor with improved shelf
life Publication number: 20130098775 Abstract: A disposable biosensor having
improved long term storage stability including a working electrode and a
reference electrode formed on an insulating substrate and a dissolvable
reagent layer composition disposed directly on the working electrode where
the reagent layer composition contains a glucose-based enzyme, a reagent
component selected from a phosphate buffer and a tris reagent, and a redox
mediator. Type: Application Filed: October 20, 2011 Publication date: April 25, 2013 Applicant: NOVA BIOMEDICAL CORPORATION Inventors: Jianhong Pei, Andy Vo, Chung
Chang Young GLUCOSE BIOSENSOR AND METHOD Publication number: 20070131549 Abstract: A system for more accurately
measuring glucose in a sample includes a first glucose-sensing electrode
incorporating a quantity of glucose oxidase, a second glucose-sensing
electrode incorporating a quantity of PQQ-glucose dehydrogenase, a reference
electrode, and means for selecting between a first glucose measurement made
with the first glucose-sensing electrode and a second glucose measurement
made with the second glucose-sensing electrode. Type: Application Filed: December 14, 2005 Publication date: June 14, 2007 Applicant: NOVA BIOMEDICAL CORPORATION Inventors: Xiaohua Cai, Chung Young,
Jianhong Pei, Andy Vo |
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GOVERNMENT CONTRACTS |
Government Contractor: NOVA BIOMEDICAL
CORPORATION Name & Address: 200 PROSPECT ST WALTHAM, MA 02453-3465 Number of Defense Contracts Awarded : 75 Dollar Amount of Defense Contracts
Awarded:$1,265,523 |
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CASES |
Massey v. Nova Biomedical Corporation Plaintiff: Norman Massey Defendant: Nova Biomedical Corporation Case Number: 1:2015cv01448 Filed: July 22, 2015 Court: Ohio Northern District Court Office: Cleveland Office County: Cuyahoga Presiding Judge: Donald C. Nugent Nature of Suit: Other Cause of Action: 28:1331 Jury Demanded By: Plaintiff Henrichs v. Nova Biomedical Corporation Plaintiff: Curtis Henrichs Defendant: Nova Biomedical Corporation Case Number: 6:2014cv00002 Filed: January 7, 2014 Court: Texas Southern District Court Office: Victoria Office County: Lavaca Presiding Judge: Gregg Costa Nature of Suit: Other Fraud Cause of Action: 28:1332 Jury Demanded By: Plaintiff Gill-Samuel v. Nova Biomedical
Corporation Plaintiff: Robin Gill-Samuel Defendant: Nova Biomedical Corporation Case Number: 0:2013cv62591 Filed: November 27, 2013 Court: Florida Southern District Court Office: Ft Lauderdale Office County: Broward Referring Judge: Patrick M. Hunt Presiding Judge: Robin S. Rosenbaum Nature of Suit: Personal Injury- Product
Liability Cause of Action: 28:1332 Jury Demanded By: Both |
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TRADEMARKS |
STAT PROFILE MEDICAL DIAGNOSTIC EQUIPMENT, NAMELY
BLOOD GAS ANALYZERS AND REAGENT MODULES Owned by: NOVA BIOMEDICAL CORPORATION Serial Number: 73634700 NUCLEUS clinical chemistry analyzers and parts
and components thereof; chemical sensing electrodes and electrode membranes Owned by: NOVA BIOMEDICAL CORPORATION Serial Number: 74037367 NOVA reagents and standards for clinical chemistry
analyzers Owned by: NOVA BIOMEDICAL CORPORATION Serial Number: 74050893 NOVA BIOMEDICAL reagents and standards for clinical
chemistry analyzers Owned by: NOVA BIOMEDICAL CORPORATION Serial Number: 74051268 |
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RENEWAL HISTORY |
Name of filing Year filed Date
filed Filing No. Annual Report 2017 06/22/2017 03:49
PM 201739719610 Annual Report 2016 06/10/2016 04:15
PM 201685852380 Statement of Change of Registered Office
Address by Registered Agent 07/31/2015 01:36 PM 201541413740 Annual Report 2015 06/11/2015 11:08
AM 201534579950 Annual Report 2014 06/11/2014 03:12
PM 201486799000 Annual Report 2013 05/14/2013 03:03
PM 201336526350 Statement of Change of Registered
Agent/Registered Office 05/07/2013 10:13 AM 201335833350 Annual Report 2012 04/24/2012 10:39
AM 201284582930 |
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UCC |
Name: NOVA BIOMEDICAL CORPORATION City: WALTHA State: MA Filing Type: UCC-1 Filing Number: 201629901820 Original Filing Number: 201629901820 Filing Date: 07/15/2016 Debtor: NOVA BIOMEDICAL CORPORATION 200 PROSPECT STREET WALTHAM MA 02454 Secured Party: MATERION LARGE AREA
COATINGS LLC 300 LAMBERTON ROAD WINDSOR CT 06095 Name: NOVA BIOMEDICAL CORPORATION City: WALTHA State: MA Filing Type: UCC- Filing Number: 201735733520 Original Filing Number: 201735733520 Filing Date: 03/31/2017 Debtor: NOVA BIOMEDICAL 200 PROSPECT STREET WALTHANM MA 02454 Secured Party: TRIDENT MACHINE TOOLS 651 DAY HILL RD WINDSOR CT 06095 Name: NOVA BIOMEDICAL CORPORATION City: WALTHA State: MA Filing Type: UCC-3 TERMINATION Filing Number: 201737653600 Original Filing Number: 201735733520 Filing Date: 06/13/2017 Debtor: NOVA BIOMEDICAL 200 PROSPECT STREET WALTHANM MA 02454 Secured Party: TRIDENT MACHINE TOOLS 651 DAY HILL RD WINDSOR CT 06095 Name: NOVA BIOMEDICAL CORPORATION City: WALTHA State: MA Filing Type: UCC-1 Filing Number: 201844642720 Original Filing Number: 201844642720 Filing Date: 03/19/2018 Debtor: NOVA BIOMEDICAL CORPORATION PO BOX 9141 WALTHAM MA 02454-9141 Secured Party: ABSOLUTE HAITIAN
CORPORATION 94 GARDNER STREET WORCESTER MA 01610 Name: NOVA BIOMEDICAL CORPORATION City: WALTHA State: MA Filing Type: UCC-3 TERMINATION Filing Number: 201845324210 Original Filing Number: 201844642720 Filing Date: 04/10/2018 Debtor: NOVA BIOMEDICAL CORPORATION PO BOX 9141 WALTHAM MA 02454-9141 Secured Party: ABSOLUTE HAITIAN
CORPORATION 94 GARDNER STREET WORCESTER MA 01610 |
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OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
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SUMMARY
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Founded in 1976, Nova Biomedical
Corporation is an organization in the Medicinal and Botanical Manufacturing
Industry headquartered in Waltham, MA. The company has 110 regular employees
and generates an estimated $306.3 million USD in annual revenue. The company operates nationally and
internationally, mainly importing from China and Taiwan. It is ACTIVE in
business with no negative. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Brad |
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POSITION |
Sales |
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COMMENTS |
He confirmed the name of the company,
the address of the headquarters and location, the date of creation of the company,
the number of employees and the Contact Name. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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US Dollar |
1 |
INR 66.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.