On March 3, Medicalgorithmics S.A. signed a distribution agreement with the Turkish company Ege Aritmi. This partnership marks another important step in the foreign expansion of the medtech company listed on the Warsaw Stock Exchange (GPW). Turkey becomes the 23rd market where Medicalgorithmics’ innovative products will be available. The company’s management expects the agreement to generate approximately PLN 1.5 million in annual revenue.
Entering the Turkish market is a key step in the company’s Eastern European expansion strategy. Turkey is a market with significant potential, having recently experienced substantial growth in the adoption of advanced medical devices, particularly in imaging and diagnostics. According to estimates by Statista Market Insights (2024), revenue in Turkey’s medical device market is expected to reach USD 5.4 billion in 2025. Among various segments, the largest share will belong to the cardiology device market, which is projected to be worth USD 889.16 million this year. This market is expected to grow at a compound annual growth rate (CAGR) of 5.09% between 2025 and 2029, reaching a value of USD 6.59 billion by 2029.
“We are consistently implementing our growth strategy and expanding globally. Our products are now available in 23 markets, from the U.S. and Canada to European countries, the Middle East, Australia, and Southeast Asia. In addition to the newly signed agreement in Turkey, we have recently partnered with companies in Armenia, Georgia, and Sweden, and we have expanded our agreement with our partner in the United Arab Emirates to include Kuwait and Bahrain. We are actively seeking new partners and planning to increase our presence in existing markets while entering new, attractive ones“ said Jarosław Jerzakowski, Board Member for Operations and Sales at Medicalgorithmics.
Turkey is the 23rd market where Medicalgorithmics’ innovative products will be available. The GPW-listed medtech company has already signed agreements that enable its presence in the U.S., Canada, Australia, the Czech Republic, Slovakia, Poland, Austria, Switzerland, Italy, Denmark, Finland, Sweden, the United Kingdom, Armenia, Georgia, India, the Philippines, Indonesia, Bahrain, Kuwait, Oman, and the United Arab Emirates.
Additionally, Medicalgorithmics’ innovative software is used in clinical research conducted in the U.S., Canada, the U.K., Poland, the Czech Republic, Germany, the Netherlands, Denmark, Norway, France, Italy, Greece, and Sweden. The company plans to further strengthen its engagement in this field, particularly following the expansion of its collaboration in early February with the Canadian research institute Population Health Research Institute (PHRI) – one of the world’s leading clinical research centers.