MEDICALGORITHMICS SA redefines US sales strategy and strengthens team
On December 6, 2022, Medicalgorithmics’ Management Board adopted a sales strategy for the US market. The strategy is aimed at securing and accelerating long-term growth in the US and increasing market share. In addition to distribution of the full range of services, i.e. access to the PocketEKG platform with the Company’s latest algorithmics and delivery of devices, the Company will offer licensing of its software, including algorithmics developed by the Company, to third parties, also in a non-exclusive model.
– Adopting a sales strategy for the U.S. market is a decision preceded by an analysis of the current situation and anticipated trends, and the result of the cooperation with Biofund and our shared expectations regarding the development of sales and products and technological solutions offered by the Group, supported by our shareholder’s knowledge of the U.S. market. More distribution channels in the U.S. and offering services that will help other entities diagnose patients more efficiently will ultimately enable us to better address existing market needs, which should ultimately result in better monetization of the intellectual property created by our Team. This change in approach will provide additional growth opportunities in the case of new product launches, and will also create an opportunity to diversify revenue streams through multi-stakeholder partnerships. Adopting a sales strategy in the US also involves remodeling and strengthening our Team – says Maciej Gamrot, Member of the Management Board, CFO Medicalgorithmics S.A.
Dr. Linda Johnson, MD, PhD is joining the Medicalgorithmics Team as Chief Scientific Officer. Dr. Johnson is a board certified cardiologist specializing in cardiac imaging and heart rhythm studies, and an Associate Professor in Cardiovascular Epidemiology at Lund University, with a research focus on arrhythmia diagnosis and prediction.
Przemysław Tadla – a specialist with more than 20 years of experience in multinationals in the electronics, automotive, device certification and medical industries – takes the position of Medicalgorithmics Management Board Member, Chief Technology Officer. He was working in the Medicalgorithmics Group from 2013 to 2021, then worked with med-tech companies in Europe and the United States, supporting them in product development, certification and release strategies, and since 2022, as Chief Operating Officer, he has been responsible for product development at Biometrics LLC and Kardiolytics Inc.
– Linda and Przemek’s involvement is a significant strengthening of the Medicalgorithmics Team. Linda, as CSO, will lead the scientific work conducted using data collected with our devices and beyond, and will consult on the development of new products in the field of superior diagnostics, for which Medicalgorithmics is known worldwide. Przemek, on the other hand, as CTO and Management Board Member, will take charge of the technological side of the solutions we already have and will develop in the Group, including those in the field of machine learning and artificial intelligence (AI). As part of our sales strategy in the U.S., we are also starting a process to recruit a manager who will be responsible for sales development in this geographic area – says Jarosław Jerzakowski, Member Management Board Medicalgorithmics S.A., previously in charge of sales in markets outside the U.S., and now Chief Commercial Officer (CCO) with overall responsibility for the Group’s sales area.
As a consequence of adopting a new sales strategy in the US, it is necessary, among other things, to renegotiate the agreement with the current exclusive distributor. The company plans to implement the new strategy in the US market within 12 to 24 months.