We market a new solution: PocketECG CRS. It is a ground-breaking system for cardiac telerehabilitation suitable for use both in a healthcare facility and at a patient’s home. It is unique in that it sends full patient ECG and heart rate reading in real time and during the entire rehabilitation session. Using an online platform, the physician continuously tracks the course and progress of rehabilitation and takes care of a patient’s safety.
We start working on ECG TechBot – dedicated software for automatic interpretation of the ECG signal based on deep learning methods. The operation of the system will be based on technologically advanced algorithms using deep neural networks. Hence, the system will be the first in the world to provide real-time analysis results which do not require specialist verification and interpretation of an ECG record.
Medicalgorithmics acquires its strategic U.S. partner: Medi-Lynx Cardiac Monitoring LLC. After signing on March 30, 2016 the controlling block purchase contract, we became the owner of 75% of shares in the Medi-Lynx capital. From this day, the results of this company are consolidated within Medicalgorithmics Group. Medi-Lynx is headquartered in Plano, Texas, manages four arrhythmia monitoring centers and serves customers in almost all US states.
Medicalgorithmics grows very dynamically – sales, profits, assets and the number of employees increase. Now it is possible to move company stock listing from NewConnect to the more prestigious Warsaw Stock Exchange Main Market. WSE market is intended for larger enterprises with more strict reporting requirements. This increases Company’s reliability for potential investors and enhances share trading flow.
We launch new generation of our arrhythmia detection system PocketECG. From now on, a single device combines the functionalities of a recorder and signal transmitter. This makes the device easier to use and eliminates issues with Bluetooth (power consumption, disconnection). The most up-to-date system was presented on the world-largest cardiology conference in the United States.
Medicalgorithmics grows very dynamically and needs extra cash for intensive research and expansion on new markets. Thanks to excellent sales, a good business plan and competent management, the Company easily gains assets for investment. In 2012, new D series stocks are issued, which bring PLN 55.776 million from stock exchange investors. Renowned Polish and foreign financial entities join our shareholders.
Rising sales and good perspectives for the future convinced the Board to enter NewConnect. It is a market financing the growth of small and medium-sized enterprises with high growth potential. Medicalgorithmics stocks debuted on NewConnect in November 2011 at PLN 20. A year later, one stock was listed at PLN 70, and in 2013 the price exceeded PLN 100.
This year, the sales in America for the first time exceeded the sales on the domestic market. The demand for services based on PocketECG grew so rapidly that our manufacturing plant required urgent extension. At this time, our flagship product was a second generation device consisting of two parts: a small recorder with electrodes and a smart phone with dedicated software.
In May 2009, after long and complex procedures, PocketECG system was approved for sales in the United States by the Food and Drug Administration (FDA). This opens the door to a huge market where long-term heart monitoring is reimbursed by insurers.
Medicalgorithmics employs only a few people who intensively work on the algorithm that will enable us to create a remote system for long-term heart monitoring with automatic arrhythmia detection and ECG description. We need funds from investors who can take high risk and invest in the company at such an early stage. Medicalgorithmics gains about PLN 2 million, including capital from New Europe Venture, LLC – a U.S. fund.
Medicalgorithmics was established in June 2005 by two scientists and entrepreneurs: Marek Dziubiński, Ph.D. and Marcin Szumowski. Ph.D. The company was established to commercialize unique algorithmic solutions for ECG signal analysis. At the early stage, the Company focused on research and development of the PocketECG prototype.
At first, Marek Dziubiński, an alumnus of Ph.D programme at the Department of Electronics, Telecommunication and IT of Gdańsk University of Technology, was working on algorithms for processing audio signal into digital signal. Then, he decided to find an industry where he could use his knowledge and do something useful. He wanted to choose an industry which was not vulnerable to booms and downturns. He chose medicine (cardiology) and used some of his previous achievements in works on algorithms.