Medicalgorithmics, a WSE-listed developer of an innovative platform and AI algorithms for ECG analysis, has signed a new agreement with its long-standing Canadian partner specializing in home Holter ECG monitoring. The customer will additionally order at least 2,000 Kardiobeat.ai devices offered by Medicalgorithmics. The cooperation, which will remain in force until March 2028, will provide the Company with revenues of at least USD 5.9 million during its term. At the same time, the signing of the new agreement results from the acquisition of the Canadian contractor by an American healthcare giant listed on the New York Stock Exchange, which plans to expand intensively in the Canadian market. This should have a positive impact on the dynamic growth of Medicalgorithmics’ business in Canada, as well as on the Company’s revenue potential.
The order, implemented by a partner from Canada, covers a minimum of 2,000 Kardiobeat.ai devices, a lightweight and wireless ECG Holter monitor offered by Medicalgorithmics. The device can record continuous ECG readings for 24 hours up to 18 days and is fully compatible with the software offered by the Company.
– We have been working with our Canadian customer, the second largest after the American IDTF, for years. To date, they have used several thousand PocketECG devices and several hundred Kardiobeat.ai devices offered by us. An additional order for at least 2,000 devices and the target full transition to our platform using AI algorithms shows that we offer the technology of the future recognized by global medical giants. A significantly higher number of devices used by our partner should result in a higher number of sessions performed and, consequently, higher revenue potential – comments Dr. Kris Siemionow, CEO of Medicalgorithmics.
Medicalgorithmics’ client is a Canadian medical entity specializing in Holter ECG testing performed at home. The technology and solutions offered by the company ensure patient-centered care, providing fast and accurate results thanks to, among other things, the services and devices provided by Medicalgorithmics. This year, the Company’s client was acquired by one of the leading American diagnostic companies listed on the New York Stock Exchange, resulting in a new agreement.
– The agreement was updated following this year’s acquisition of the company by an American healthcare giant listed on the New York Stock Exchange. This is a very good sign for us in terms of further business development in Canada, but also in the United States. We see a particular opportunity for us in the fact that our partner’s new owner intends to intensively develop its operations on the Canadian market, and we intend to support the entire group – adds Dr. Kris Siemionow.
Since the beginning of this year, the medtech company listed on the Warsaw Stock Exchange has been growing dynamically, acquiring new customers and activating existing ones. Medicalgorithmics signed a record number of contracts (19 – more than in the whole of 2024), which translated into a significant increase in its share price. Since the beginning of the year, the company has doubled its value, becoming one of the best investments on the WSE in 2025. Among the new contracts are: a contract with one of the 5 largest American IDTFs, an agreement with a European IDTF, an agreement with an American deep-tech company specializing in the integration of advanced materials, sensors, and artificial intelligence, and two commercial agreements for VCAST – on the Turkish market, the strategic Scandinavian market, and in Saudi Arabia.