Medicalgorithmics, a Warsaw Stock Exchange-listed developer of an innovative platform and AI algorithms for ECG analysis, is expanding its cooperation with one of its long-standing partners – a distributor of cutting-edge medical solutions from Israel – to include, amongst other things, the distribution of the VCAST solution for the autonomous diagnosis of coronary artery disease. The companies have signed an addendum to their existing agreement, under which the partner will be able to add the DRP platform for ECG analysis to its offering, in addition to VCAST. At the same time, the partner has ordered additional Kardiobeat.ai devices on behalf of one of its clients. The value of the order, covering both hardware and software, amounts to over PLN 650,000.
– We attach just as much importance to expanding our cooperation with our long-standing partners as we do to securing new contracts. The upgrade of our agreement with an Israeli client is yet another example of renegotiating the terms of cooperation to our advantage. It also demonstrates that working with distributors yields positive results in the form of new orders and project completions. We are all the more pleased that the contractor has decided to launch our groundbreaking VCAST technology on the Israeli market, which has the potential to revolutionise the diagnosis of coronary artery disease. Israel will be the fourth market in which this solution will be available – comments Dr Kris Siemionow, CEO of Medicalgorithmics, on the signing of the agreement.
Following the signing of the addendum, the Israeli distributor will be granted the rights to sell the VCAST solution and the DeepRhythmPlatform (DRP) software – which utilises DRAI algorithms to analyse and classify ECG signals – within Israel. Furthermore, Medicalgorithmics has granted its partner the exclusive right to sell, market and distribute Pocket ECG and Kardbiobeat.ai devices for diagnostic purposes within Israel.
This marks Medicalgorithmics’ fourth commercial success this year. The Polish medtech company had previously signed three new contracts. In early January, the ECG industry innovator entered into a partnership with the American IDTF – CardioDiagnostics, which specialises in solutions for cardiological care with a focus on heart monitoring and remote diagnostics via cloud-based software and devices for clinical electrocardiographic monitoring. Under the agreement, the Company will supply the partner with innovative AI algorithms for ECG analysis – DeepRythm AI (DRAI). Shortly afterwards, a groundbreaking partnership was established with Sharp Tech from Peru, marking the Company’s debut in the Latin American region. In March this year, the Company signed an agreement with South Korea’s Seers Technology – the software and algorithms will be integrated into the partner’s hardware.