The Warsaw Stock Exchange-listed medtech company is consistently executing its growth strategy, aiming to achieve profitability and positive operating cash flow in the second half of the year. As part of this strategy, Medicalgorithmics focuses on offering leading software with AI-driven algorithms integrated with various ECG monitoring devices. Thanks to onboarding new clients and expanding in existing markets, the company recorded an 87.4% year-over-year increase in conducted tests in 2024, reaching over 270,000 sessions compared to 144,000 in 2023.
“Our strategy and new product offerings for arrhythmia diagnostics have resulted in acquiring 13 new clients in 2024. As a result, we have seen nearly a 90% increase in conducted sessions compared to 2023. We are strengthening our collaboration with existing clients while working to reach and acquire new ones. We are at an advanced stage of negotiations with several potential clients and believe that in the near future, we will be able to announce the results of these efforts,” said Jarosław Jerzakowski, Board Member for Operations and Sales at Medicalgorithmics.
Medicalgorithmics continues its international expansion, securing additional certifications for its products. Recently, the company obtained certification for the Kardiobeat.ai Holter patch in Israel and completed the CE certification process for its VCAST software. On October 24, 2023, the new cloud-based DeepRhythm Platform (DRP) received Health Canada registration. In early December, the FDA approved the DeepRhythmAI (DRAI) algorithm for use in ambulatory telemetry – making it the only software of its kind in the U.S. that can be integrated with third-party systems.
An independent scientific study, “DRAI MARTINI,” validating the high effectiveness of DRAI’s AI algorithms, was presented at the ESC Congress 2024 in London. The study, conducted on a large sample of over 14,000 patients, demonstrated that ECG data analysis using DRAI’s AI algorithms carries 14 times less risk of missing a critical heart arrhythmia compared to human specialists interpreting ECG tests.