|
|
|
MIRA INFORM REPORT
|
Report No. : |
491300 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
ULTRAFLEX SYSTEMS, INC. |
|
|
|
|
Registered Office : |
362 Technology Dr Malvern, PA 19355 |
|
|
|
|
Country : |
United States |
|
|
|
|
Date of Incorporation : |
18.11.1991 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject designs and engineers Range of Motion (ROM) braces that
restore movement and active living. |
|
|
|
|
No. of Employees : |
37 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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 $57,300. 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 nearly 55% 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, making this 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 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 2014, the direct costs of the wars totaled more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, 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 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%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and further reduce them as conditions warranted; the Fed ended the purchases during the summer of 2014. In 2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by mid-2015, the lowest rate of joblessness since before the global recession began; inflation stood at 1.7%, and public debt as a share of GDP continued to decline, following several years of increases. 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 US GDP growth below 2%, the Fed opted to raise rates three times since then, and in mid-June 2017, the range for the target rate stood at 1% to 1.25%.
|
Source
: CIA |
STATUTORY
INFORMATION
|
|
|
Legal Name: |
ULTRAFLEX SYSTEMS, INC. |
|
Trade Names: |
ULTRAFLEX SYSTEMS, INC. |
|
ID: |
2062768 |
|
Date Created: |
1991 |
|
Date Incorporated: |
November 18, 1991 |
|
Legal Address: |
362 Technology Dr Malvern, PA 19355, USA |
|
Operative Address: |
237 South Street |
|
Telephone: |
610-906-1410 |
|
Fax: |
610-906-1420 |
|
Legal Form: |
CORPORATION |
|
Email: |
Connect@ultraflexsystems.com |
|
Registered in: |
PENNSYLVANIA |
|
Website: |
www.ultraflexsystems.com |
|
Contact: |
Mark De Harde - President |
|
Staff: |
37 |
|
Activity: |
NAICS 1: Medical, Dental, and Hospital Equipment and Supplies Merchant
Wholesalers NAICS 2: Electromedical and Electrotherapeutic Apparatus Manufacturing SIC 1: Medical Equipment And Supplies SIC 2: Orthopedic Appliances |
|
|
|
Banks
BANK OF AMERICA |
|
|
|
|
History
Ultraflex Systems, Inc. was incorporated November 7, 1991. In that
same month, Ultraflex acquired patented dynamic brace technology used to improve
range and function following injury. The company was capitalized through
private investors. |
|
|
|
|
PRINCIPAL
ACTIVITY
|
|
|
Ultraflex Systems, Inc. designs and engineers Range of Motion (ROM)
braces that restore movement and active living. |
|
|
Products/Services description: |
The company offers orthotic components for all major joints of the
human body and fabrication of custom orthoses for upper and lower extremity
limbs. |
|
Brands: |
ULTRAFLEX |
|
Sales are: |
Retail |
|
Clients: |
Private Customers |
|
Suppliers: |
NA |
|
Operations area: |
National |
|
The subject employs |
37 Employees |
|
Payments: |
No Complaints |
|
|
|
LOCATION
|
|
|
Headquarters : |
237 South Street Pottstown, PA 19464, USA |
|
Comments on Address: |
- |
|
Branches: |
No other branches were found. |
|
Related Companies: |
No related companies were found. |
|
|
|
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
The company does not disclose information on shareholders. The
following information has been obtained through private sources. This is a private company. Mark De Harde This information was confirmed by the company. |
|
Management: |
Mark De Harde - President Steven L Diehm - Treasurer |
|
|
|
FINANCIAL
INFORMATION
|
|
|
The company does not make its financial
statements public. The following information has been provided by private
sources: |
|
|
USD 2016 |
|
|
Revenue |
3.200.000 |
|
Cash flow |
Normal |
|
|
|
LEGAL
FILINGS
|
|
|
PATENTS |
Dynamic splint Patent number: 5749840 Abstract: A dynamic splint is provided which applies a bias force
across a body joint with a magnitude which is adjustable at a pivot in the splint.
At the pivot, a joint enclosure is provided to house a coiled leaf spring
having one end connected to a movable adjustment mechanism. The relative
magnitude of the bias is indicated by an indicator bearing numeric markings
which moves with movement of the adjustment mechanism. A pin look mechanism
is provided for locking pivoted strut members of the splint to prevent
relative movement thereof about the pivot. Type: Grant Filed: October 31, 1995 Date of Patent: May 12, 1998 Assignee: Ultraflex Systems, Inc. Inventors: Andrew L. Mitchell, Kenneth A. Patchel Bi-Directional Dampening and Assisting Unit Publication number: 20140308065 Abstract: A dynamic platform with extending struts has fastened
thereto a bi-directional torsional power unit to selectively deliver force
opposing either extension or flexion, and to provide assistance in a
respective opposite direction. The power unit is threadably mounted on a
hinge pin (spline) centrally located on the platform, and is latched to a
catch assembly radially located thereto, the hinge pin of the platform
communicating with one end of a torsion spring of the power unit and the
catch assembly communicating with another end of the torsion spring, to
selectively deliver the extension/flexion force. The power unit can be
detached, with simple manual operation of the catch assembly, without tools,
flipped over and reattached to the same platform attachment points to switch
(reverse) extension torque to flexion torque and vice versa. Type: Application Filed: April 10, 2014 Publication date: October 16, 2014 Applicant: Ultraflex Systems, Inc. Inventor: Mark DeHarde Bi-directional dampening and assisting unit Patent number: 9377079 Abstract: A dynamic platform with extending struts has fastened
thereto a bi-directional torsional power unit to selectively deliver force
opposing either extension or flexion, and to provide assistance in a
respective opposite direction. The power unit is threadably mounted on a
hinge pin (spline) centrally located on the platform, and is latched to a
catch assembly radially located thereto, the hinge pin of the platform
communicating with one end of a torsion spring of the power unit and the
catch assembly communicating with another end of the torsion spring, to
selectively deliver the extension/flexion force. The power unit can be
detached, with simple manual operation of the catch assembly, without tools,
flipped over and reattached to the same platform attachment points to switch
(reverse) extension torque to flexion torque and vice versa. Type: Grant Filed: April 10, 2014 Date of Patent: June 28, 2016 Assignee: Ultraflex Systems, Inc. Inventor: Mark DeHarde Ambulating knee joint Patent number: 8123709 Abstract: A hinge or joint assembly is provided that includes first
and second members, a pivot rotatably connecting the first and second members
and allowing movement between extension and flexion positions, and at least
one elastomeric spring communicating with the first and second members to
restrain pivotal movement of the members toward flexion, through compression
of the elastomeric spring, and to assist pivotal movement toward extension
through decompression of the elastomeric spring. The assembly can further
include a disk and lock slide, the disk and lock slide each having complementary
teeth providing, when engaged, an arrest of pivotal movement in a direction
of flexion and one-way, ratcheting, step-advance pivotal movement in a
direction toward extension. The elastomeric spring can be urethane, and can
be adapted to mimic any bodily muscle. An embodiment employing a torsional
spring is also provided, as is a cable release mechanism providing
one-dimensional cable movement. Type: Grant Filed: April 13, 2009 Date of Patent: February 28, 2012 Assignee: Ultraflex Systems, Inc. Inventors: Mark DeHarde, Kenneth A. Patchel, Thomas Watters |
|
|
|
|
GOVERNMENT CONTRACTS |
No records found. |
|
|
|
|
CASES |
Onebeacon America Insurance Company v Ultraflex Systems, Inc. Plaintiff: Onebeacon America Insurance Company Defendant: Ultraflex Systems, Inc Case Number: 2:2010cv01705 Filed: October 1, 2010 Court: Nevada District Court Office: Las Vegas Office Referring Judge: Lawrence R. Leavitt Presiding Judge: Gloria M. Navarro Nature of Suit: Tort Product Liability Cause of Action: 28:1332 Diversity-Product Liability Jury Demanded By: None Green Earth Medical Supplies v. Ultraflex Systems Inc et al Plaintiff: Green Earth Medical Supplies Defendant: DOES, Bioflex Inc, Biotech Products LLC and Ultraflex
Systems Inc Case Number: 8:2010cv00792 Filed: June 7, 2010 Court: California Central District Court Presiding Judge: Cormac J. Carney Referring Judge: Marc L. Goldman Nature of Suit: Contract: Other Ultraflex Systems, Inc. v. George S. May International Company Plaintiff: Ultraflex Systems, Inc. Defendant: George S. May International Company Case Number: 1:2010cv05978 Filed: September 20, 2010 Court: Illinois Northern District Court Office: Chicago Office County: Cook Nature of Suit: Other Contract Cause of Action: Civil Miscellaneous Case Jury Demanded By: None |
|
|
|
|
TRADEMARKS |
ULTRAFLEX dynamic splints for anatomical joints Owned by: ULTRAFLEX SYSTEMS, INC. Serial Number: 74184522 ULTRA MUSCLE INSIDE ULTRA SAFE STEP Prosthetic, orthopedic, and rehabilitative medical appliances, namely,
braces, joints, orthosis, stimulators, and parts… Owned by: ULTRAFLEX SYSTEMS, INC. Serial Number: 76522802 ULTRASAFESTEP Prosthetic, orthopedic, and rehabilitative appliances, namely, braces,
joints, electrical and mechanical stimulators for… Owned by: ULTRAFLEX SYSTEMS, INC. Serial Number: 76522803 ULTRAMUSCLE Prosthetic, orthopedic, and rehabilitative appliances, namely braces,
joints, orthosis, stimulators, and component parts… Owned by: ULTRAFLEX SYSTEMS, INC. Serial Number: 76522810 |
|
|
|
|
RENEWAL HISTORY |
No records found. |
|
UCC |
No records found. |
|
OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
SUMMARY
Founded in 1991, Ultraflex Systems, Inc. is a mid-sized organization
in the medical and hospital equipment company’s industry located in
Pottstown, PA. It has 37 full time employees and generates $3.2 million in annual
revenue. The company operates nationally. It is ACTIVE in business with no negative records. |
|
|
|
|
RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
INTERVIEW
|
|
|
NAME |
James |
|
POSITION |
Purchasing |
|
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 name of the President. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.37 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
|
USD |
1 |
INR 64.31 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low risk
of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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.