I had an email back from Medisys in response to my queries . Nothing interesting as most of my questions were deemed to need price sensitive info.
On the last year's margin 20%, I was told that it includes £1m Newtek inventory write off so the second half hasn't been as bad as the figures suggest, ie excl the Newtek inventory loss the gross margin is 23%.
On the scalpel - I asked about the 1m sales and why not mentioned in the accounts and the answer was that it is not core business but still committed on growing it. The wording suggested that they might sell it but wait for the best price.
I still hold my 2.5m shares, quite disappointed by the results but I am confident that it should breakeven this year. With the supplier price reduction, Micro Draw production efficiencies and cost cuttings of 2m I can see margins improving. I am even thinking of adding more.
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