Our AI algorithms, DeepRhythmAI (DRAI), have received another FDA clearance under the new QYX product code. This marks a breakthrough in outpatient cardiac telemetry monitoring, enabling real-time detection of cardiac arrhythmias with seamless integration into third-party software.
The DeepRhythmAI (DRAI) artificial intelligence algorithms, used for automatic ECG data analysis, can now be used to analyze ECG data in ambulatory telemetry (product code QYX). This type of testing involves remote patient monitoring with continuous ECG recording and automatic data analysis to detect and record heart rhythm disorders automatically. Detected disorders are sent to the attending physician during the monitoring period. DeepRhythmAI is the only set of algorithms approved by the FDA for integration within the new QYX product code for use in this new category.
“The USA is one of our most important markets. The clearance of DRAI by the FDA under QYX confirms the highest quality of our breakthrough technology and opens up new opportunities for the commercialization of our AI algorithms. We are proud to be the first to offer AI algorithms designed for integration with third-party software within the new code for ambulatory telemetry. This will allow us to offer our cloud-based software to a new category of customers, thus steadily increasing our customer base in the USA. We continue to pursue research and development in AI algorithms, consistently expanding our product offering and the scope of its application in various cardiological procedures,” said Przemysław Tadla, Board Member and CTO of Medicalgorithmics.
DeepRhythmAI (DRAI) is an advanced set of artificial intelligence algorithms designed to deliver fast and precise ECG analysis results, supporting the diagnosis of heart arrhythmias. The DRAI algorithms were trained on data covering more than 3.6 million days of ECG recordings, making them one of the most advanced solutions of their kind in the world. The technology’s effectiveness was confirmed in the independent DRAI MARTINI study, presented in early September during the ESC Congress 2024 in London – the largest cardiology conference in Europe. The study, conducted on a sample of over 14,000 patients with the participation of more than 50 cardiologists from the USA, Canada, and Europe, showed that the DRAI algorithms made 14 times fewer errors in detecting critical heart arrhythmias than certified ECG technicians.
As part of its current strategy, Medicalgorithmics is focusing on selling high-margin diagnostic software, with device sales being an optional offering for clients. In Q3 of this year, service revenue amounted to PLN 5.2 million, with revenue from the U.S. market up 24% compared to Q2, reaching PLN 1.2 million. This marks the recovery of 53% of the revenues from Q4 2023. Since adopting its new growth strategy, the company has acquired 13 new clients. The Medicalgorithmics board expects to acquire a key client in the U.S. later this year, in line with its strategy.