Medicalgorithmics has adopted a new growth strategy for 2023-2026 to strengthen its position as a global provider of non-invasive cardiac diagnostic technology. The company will focus on commercializing proprietary software for medical data analysis, AI/ML algorithms, and integrating software with third-party devices.
“We have embarked on a transformation of our business model and are evolving into a global provider of innovative solutions for the healthcare sector. For many years, we offered a closed ecosystem with a physical device. Now, we are transitioning into a company specializing in data analysis services using artificial intelligence algorithms,” said Maciej Gamrot, Chief Financial Officer at Medicalgorithmics.
The newly adopted strategy involves developing a new business model that centers around offering products without territorial exclusivity. The PocketECG software will be available as a standalone product. A significant aspect of the new strategy is integrating proprietary software with third-party devices for cardiac diagnostics, which will create new opportunities for scaling the company’s technology.
“With our new strategy, we are separating software from hardware in terms of sales, which can generate new revenue streams. In the years ahead, our sales will mainly focus on the American market, where we have the greatest growth potential thanks to our technology. We are already operating without territorial exclusivity in the USA, enabling us to acquire many new customers (IDTF and medical technology companies) and penetrate the American market more effectively. We have strengthened our global sales structure and have an experienced team with a thorough understanding of the medical services market, which puts us in an excellent position to grow in international markets,” stated Jarosław Jerzakowski, Chief Commercial Officer at Medicalgorithmics.
The cornerstone of the new strategy is the development of modern software, AI/ML algorithms, and cloud solutions for the healthcare sector. The company plans to commercialize its innovative heart imaging technology (VCAST). Additionally, the company intends to conduct research and development (R&D) to support the development of cutting-edge medical technologies.
“We are building a comprehensive ecosystem that encompasses algorithms, software, and devices for cardiac diagnostics. We are transforming into a technology company that delivers highly scalable AI solutions for the healthcare sector. We are investing in new technologies and expanding our research and development capabilities to enhance the diagnostic value of our products. We see immense potential in our new upcoming product, VCAST, which could revolutionize the diagnosis of coronary artery disease in the future” said Przemysław Tadla, Chief Technology Officer at Medicalgorithmics.