Medicalgorithmics Explores Entering Sleep Monitoring Market by Signing Letter of Intent for Collaboration with sleep monitoring developer Aidmed
Medicalgorithmics has signed a letter of intent with Aidmed, a medical technology company focused on sleep monitoring software and medical devices. The collaboration aims to explore the potential commercialization and further development of Aidmed’s solutions. By forging partnership with Aidmed, Medicalgorithmics can expand into a new sleep monitoring market.
Entering new, adjacent medical technology and software markets, is part of the new strategy under BioFund Capital management LLC. The LOI entails exploring the possibilities of selling Aidmed’s solutions through Medicalgorithmics’ global distribution channels. The letter of intent also foresees joint efforts to obtain certification for Aidmed’s medical devices in international markets, including the United States and Canada. Furthermore, both parties acknowledge the possibility of jointly developing remote monitoring services, including those for cardiac disorders. The letter of intent between Medicalgorithmics and Aidmed has been concluded for 6 months.
“We are pleased to have signed this letter of intent with Aidmed with the intention of potentially entering a new market for sleep monitoring, which is combined with cardiac diagnostics. We are analyzing new diagnostic fields that fit into our strategic vision of a global provider of innovative solutions for the healthcare sector. Through our collaboration with Aidmed, we will be able to enrich our product portfolio with cutting-edge solutions. It is worth noting that many sleep disorder diseases have a cardiac origin. Aidmed has a ready-made solution that can help diagnose these disorders” -says Jarosław Jerzakowski, Chief Commercial Officer at Medicalgorithmics.
Sleep technology devices market size surpassed $17.9 billion in 2022 and is expected to register 18.2% CAGR between 2023 and 2032. An increasing number of patients suffering from sleep apnea and related disorders will influence the demand for sleep tech devices. It is estimated that half of the patients with cardiac arrhytmias, like atrial fibrillation, also have sleep apnea. And patients with sleep apnea have four times the risk of developing atrial fibrillation.
Aidmed offers a comprehensive system for collecting and analyzing patients’ physiological parameters, consisting of the Aidmed One recorder, the Aidmed Health mobile application, and the Aidmed Cloud telemedicine system. Leveraging Aidmed’s technology, healthcare professionals can assess the correlation between registered cardiac rhythm disorders and breathing abnormalities during sleep, which is vital in the diagnostic process.
Medicalgorithmics is a global healthcare technology company specializing in AI-based diagnostic and analytic algorithms. Its mission is to revolutionize medical diagnostics worldwide by leveraging the power of AI. The company’s products enable early detection, precise diagnosis, and comprehensive monitoring of medical abnormalities to empower its customers to offer valuable clinical insights, streamline workflows, and reduce the need for human data review.