16 September 2016
Founded in 1999, ImpediMed Limited (ASX:IPD) is an ASX300 publicly listed Australian company providing medical technology to measure, monitor and manage fluid status and body composition. The company provides products in both Australian and international markets, and exhibits strong growth prospects over the long-term.
As a global company, ImpediMed has an aim to expand into a number of markets outside of Australia. For this reason, research studies on its impedance devices need to be performed with patient populations that are representative of its target demographic. This need, combined with a goal of reducing recruitment times and study lengths, required ImpediMed to undertake studies in the United States. In doing this, ImpediMed Limited risked missing out on accessing the R&D Tax Incentive for these Overseas R&D activities, which had proved a valuable source of funding over the years.
With its breadth of specialist R&D Tax Incentive experience, BDO helped ImpediMed receive an approved Overseas Finding for eligible US R&D activities. This has allowed ImpediMed to continue receiving valuable funding for these activities and in doing so has assisted the company with the continued development of its world class, life-changing devices.
Having an R&D adviser that intimately knows our business has ensured we can forward plan and utilise the benefits of the R&D Tax Incentive. Through Nicola’s work and through the R&D Tax Incentive, ImpediMed has been able to explore additional avenues for our technology, with the end goal of improving the health of people around the world. --- Tim Cruickshank, Vice President, Finance
The breadth and depth of BDO’s Tax knowledge has allowed ImpediMed to gain a significant, long-term benefit. This adds to the confidence that together, ImpediMed and BDO will continue to identify tailored and effective tax methods to facilitate the company’s achievement of its long-term strategy, whilst maximising its short-term funding needs.
As a partner of ours for more than 15 years, Chris, Adele and the team have been integral in incorporating their vision of long-term tax strategy into the behind-the-scenes fibers of our organisation. We value BDO’s expertise on long-term decisions and appreciate their timely responses to our short-term needs. --- Tim Cruickshank, Vice President, Finance