$3 Million Additional Funding for Medicalgorithmics from BioFund

Medicalgorithmics and the company’s dominant shareholder, BioFund Capital Management LLC, have signed an agreement to establish a loan line of up to $3 million. The agreement confirms the company’s comfort in implementing its 2023-2026 strategy and expands its development opportunities. Currently, Medicalgorithmics does not plan to use the line, financing its operations with its own funds and operating cash flows.

Medicalgorithmics Receives FDA Approval for Commercialization of New Arrhythmia Diagnostics Platform in the USA

The U.S. Food and Drug Administration (FDA) – a federal agency overseeing the market for drugs and medical devices – has approved Medicalgorithmics’ new cloud-based platform for arrhythmia diagnostics, the DeepRhythm Platform (DRP), for use in the USA. The platform integrates with the latest generation of proprietary artificial intelligence algorithms, DRAI. FDA approval allows for the commercial deployment of this new solution to clients in the U.S. market. This decision positions the company’s product offering among the world’s leading solutions, opens up new business opportunities, and enhances its competitive and technological edge in the arrhythmia diagnostics market.

Medicalgorithmics strengthens supervisory board

The Extraordinary General Meeting of Shareholders of Medicalgorithmics appointed Przemysław A. Schmidt and Marzena Piszczek to the supervisory board. Przemysław A. Schmidt is an experienced manager and investment banker, and will take over as chairman of the supervisory board. His candidacy was submitted by BioFund, the company’s largest shareholder. The company’s second largest shareholder, PZU “Złota Jesień” Open Pension Fund, submitted the candidacy of Marzena Piszczek. She is an experienced expert in corporate finance and public finance, a doctor of economic sciences, former chairwoman of the supervisory boards of PKO BP, PZU S.A. and Grupa Azoty.

Medicalgorithmics Receives CE Certification for Next-Generation AI Algorithms DeepRhythmAI

Medicalgorithmics, a leading medical technology company listed on the sWIG80 index, has received CE certification for the next generation of its artificial intelligence algorithms, DeepRhythmAI (DRAI), used for analyzing heart ECG data. The new version of DRAI was previously approved for use in the US market by the FDA in 2022. Its commercial use will significantly strengthen the company’s position in the arrhythmia diagnostics market.

Medicalgorithmics: Q1 2024 Confirms Business Model and Strategy

In Q1 2024, Medicalgorithmics—a medtech company listed on the sWIG80 index—successfully focused on acquiring new customers. The company has established 9 new partnerships so far, including five in the USA. According to the strategy, new clients are expected to replace a former exclusive partner in the USA. Only three of the already commercially launched projects will bring the company about 440,000 PLN in average monthly recurring revenue, which is nearly 50% of the sales in Q4 2023 for the former client. Thus, the company is consistently transforming its business model. In the first quarter of 2024, its revenue amounted to 7 million PLN. The Medicalgorithmics Management expects significant sales growth in the coming quarters due to the commencement of services for new clients.

Medicalgorithmics Has Recovered Nearly 50% of US Sales Compared to Q4 2023

Medicalgorithmics, part of the sWIG80 medtech index, estimates a steady stream of revenues from AI services sales to three new clients in the IDTF (Independent Diagnostic Testing Facility) market in the USA at USD 110.1 thousand, or approximately PLN 440 thousand, on average per month. This value is expected to grow steadily. The company is working on commercially launching services for additional clients and is engaged in advanced discussions to sign new contracts.

Medicalgorithmics Secures New US Patent for VCAST Technology

Implementing its ongoing strategy, Medicalgorithmics, a medtech company listed on the sWIG80 index, has successfully added nine new clients, including five Independent Diagnostic Testing Facility (IDTF) centers in the USA. The company has completed a contract and started a collaboration with First-Call Medical, marking its fifth new IDTF partner in the USA, specializing in heart disease diagnostics. Using Medicalgorithmics’ AI-powered diagnostic platform, the new partner will analyze EKG signals of patients for arrhythmia and other disorders.

Medicalgorithmics Expands Globally, Forges New US Partnerships, and Boosts Q4 2023 Revenue

Implementing its ongoing strategy, Medicalgorithmics, a medtech company listed on the sWIG80 index, has successfully added nine new clients, including five Independent Diagnostic Testing Facility (IDTF) centers in the USA. The company has completed a contract and started a collaboration with First-Call Medical, marking its fifth new IDTF partner in the USA, specializing in heart disease diagnostics. Using Medicalgorithmics’ AI-powered diagnostic platform, the new partner will analyze EKG signals of patients for arrhythmia and other disorders.

Medicalgorithmics Expands in the US with its Fifth New IDTF Client, Accelerating Expansion

Implementing its ongoing strategy, Medicalgorithmics, a medtech company listed on the sWIG80 index, has successfully added nine new clients, including five Independent Diagnostic Testing Facility (IDTF) centers in the USA. The company has completed a contract and started a collaboration with First-Call Medical, marking its fifth new IDTF partner in the USA, specializing in heart disease diagnostics. Using Medicalgorithmics’ AI-powered diagnostic platform, the new partner will analyze EKG signals of patients for arrhythmia and other disorders.

Medicalgorithmics Starts Providing ECG Cardiac Safety Services Using AI in a Clinical Trial for a New Drug

Medicalgorithmics has initiated its involvement in providing cardiac safety services for a pioneering clinical trial of a new medication. The trial, now in the drug dosing phase, utilizes Medicalgorithmics’ advanced AI software and ECG diagnostic devices. This initiative is a part of Project OATD-01, carried out for the Polish company Molecure and managed by Simbec-Orion. This exemplifies a significant expansion for Medicalgorithmics into the domain of cardiac safety in clinical trials.

Medicalgorithmics has a contract with the fourth IDTF in the USA under the new strategy

Medicalgorithmics SA, a medtech company listed in the sWIG80 index, has acquired its fourth client in the American IDTF market – independent diagnostic facilities that serve hospitals and medical offices. The company’s new partner, G Medical, will use a proprietary comprehensive system for arrhythmia diagnostics, which primarily includes software and AI algorithms for EKG signal analytics from various heart monitoring devices offered by the new client.als.

Medicalgorithmics with a New Agreement in the United Arab Emirates

Medicalgorithmics, a medtech listed on the sWIG80 index, is expanding its presence in the Middle East. The company has signed an agreement with Canadian Cardiac Centre to provide a comprehensive system for heart arrhythmia diagnostics for a new cardiology center in the United Arab Emirates. The system will include PocketECG devices and a diagnostic platform PCClient based on artificial intelligence (AI).

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The data administrator is Medicalgorithmics S.A. with its registered office in Warsaw (02-001) at Al. Jerozolimskie 81. The data will be processed in order to answer the query sent (legal basis: legitimate interest of the administrator), marketing (legal basis: legitimate interest of the administrator). The full text of the clause can be found on the Privacy Policy page.

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