Warsaw Stock Exchange-listed Medicalgorithmics continues its dynamic growth trajectory, capitalizing on unprecedented demand for its proprietary AI-powered diagnostic software. The Polish medtech company has entered into a partnership agreement with IDTF in Belgium – Byteflies. Pursuant to the agreement, the DeepRhythmAI (DRAI) artificial intelligence algorithms – recognized by Nature Medicine – will become available to Byteflies upon completion of integration and receipt of the requisite regulatory approvals. The contract includes guaranteed monthly minimums. This marks the thirteenth new client acquired by Medicalgorithmics in 2025.
Byteflies is a fast-growing medtech company specializing in remote patient monitoring using cutting-edge wearable devices and patches. This partnership will enable them to expand their ECG-as-a-service offering by integrating proven AI-powered diagnostics, enhancing both the quality and efficiency of cardiac care to better meet evolving clinical demands.
“The growing global recognition of our proprietary software is translating into heightened commercial interest, new strategic agreements, and further expansion across key international markets, including Western Europe. We are effectively capitalizing on a pivotal moment in Medicalgorithmics’ development, consistently executing our growth strategy by increasing our share in the highly promising global ECG diagnostics market. Since the beginning of 2025, we have signed as many agreements as we did during the entire year 2024, including with IDTF partners in both the United States and Europe,” said Dr. Kris Siemionow, CEO of Medicalgorithmics. “The global cardiology diagnostics software market represents a multibillion-dollar opportunity which, in our view, remains significantly underpenetrated,” he added.
Independent diagnostic centers – operating separately from hospitals and traditional healthcare facilities – play an increasingly critical role in the global healthcare delivery model. According to ResearchAndMarkets.com, the global IDTF cardiology market is projected to be valued at USD 8.24 billion in 2024, with a forecasted compound annual growth rate (CAGR) of 8.2% between 2025 and 2030.
The year 2025 has witnessed a notable acceleration in demand for Medicalgorithmics’ solutions and a rapid pace of client acquisition. Since the beginning of the year, the company has concluded 13 new commercial agreements with partners across the United States, Canada, Australia, South Korea, Turkey, and various European countries. By comparison, the Group secured the same number of new clients over the entire course of 2024. Concurrently, Medicalgorithmics has experienced a substantial increase in the volume of ECG diagnostics performed, reaching 92,000 tests in Q1 2025 – representing an almost 100% year-over-year increase.