WSE-listed Medicalgorithmics continues its dynamic growth trajectory, capitalizing on record-high demand for its innovative software solutions. The Polish medtech company has signed a partnership agreement with Zenicor Medical Systems AB, a Swedish firm with over 20 years of expertise in arrhythmia diagnostics and stroke prevention.
Under the agreement, Medicalgorithmics’ proprietary and highly efficient DeepRhythmAI (DRAI) artificial intelligence algorithms and its DRP platform will be made available to Zenicor following system integration and regulatory clearance. The contract includes guaranteed monthly minimums. This marks Medicalgorithmics’ 17th client acquisition in 2025 and the second agreement in the strategic Scandinavian market.
Zenicor Medical Systems AB is a pioneer in early detection of cardiac rhythm disorders, leveraging advanced digital health technologies. Its portfolio includes Zenicor One, a portable ECG device with 4G/5G connectivity, and Zenicor Flex, enabling continuous monitoring across multiple devices. A cornerstone of Zenicor’s offering is Zenicor View, a web-based platform integrating diagnostics, device logistics, and interpretive support, enabling real-time, remote patient data analysis. With the newly signed agreement, Zenicor will enhance patient diagnostics efficiency by leveraging Medicalgorithmics’ world-class DRAI AI-powered software and DRP platform.
“We are accelerating our expansion, simultaneously deepening client integrations while signing new contracts to strengthen our presence in strategic and high-potential markets. Following the first stage of our business transformation, we are now scaling our footprint in the global ECG market – a multi-billion USD market. Thanks to the worldwide recognition of our technology, the proven effectiveness of our software, and the record-breaking interest in DRAI and DRP, we are ideally positioned to compete globally and effectively monetize our unique AI-driven solutions in cardiology diagnostics,” said Dr. Kris Siemionow, CEO of Medicalgorithmics.
The Swedish cardiology devices market reached a value of approximately USD 340 million in 2025, with forecasts projecting growth to around USD 420 million by 2030 (CAGR 4.2%; Mordor Intelligence). The diagnostic and monitoring segment is expanding faster (CAGR ~5.7%) than the interventional/surgical segment. Within applications, the structural heart disease segment is the fastest-growing (CAGR 6.3%), while coronary artery disease devices remain the largest category (~42% market share). Market growth is driven by population aging, the rising number of minimally invasive procedures (TAVI), increased investments in remote cardiac monitoring, and robust data infrastructure (e.g., SWEDEHEART registry), reinforced by healthcare digitalization.
Since the beginning of 2025, Medicalgorithmics has delivered record-breaking commercial momentum, consistently acquiring and onboarding new clients. The company has already signed 17 contracts – exceeding the total number of agreements in 2024 – which has translated into a significant share price increase. Year-to-date, the company’s market value has doubled, making it one of the best-performing investments on the Warsaw Stock Exchange in 2025.
Beyond U.S.-based adopters of its technology, Medicalgorithmics’ new agreements include a partnership with a European IDTF, a collaboration with a U.S. deep-tech company specializing in advanced materials, sensors, and AI integration, as well as the first two commercial contracts for VCAST, signed in Turkey and Scandinavia.