Information on the number of payment requests from insurers submitted by Medi-Lynx Cardiac Monitoring, LLC
Current report 5/2017
Acting pursuant to Article 17(1) of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (OJ L 2014 No 173, p. 1), the Management Board of Medicalgorithmics S.A. with its registered office in Warsaw (“Company”, “Issuer”) hereby discloses to the public that on 11 April 2017 the Company obtained information about the number of payment requests from insurers, due to services rendered using PocketECG technology in the US, submitted by Medi-Lynx Cardiac Monitoring, LLC (“ML LLC”), the Issuer’s subsidiary.
Periodic statements of data on payment requests submitted by ML LLC are as follows:
Q1 2016 – 14,571 requests
Q2 2016 – 13,840 requests
Q3 2016 – 14,559 requests
Q4 2016 – 12,944 requests
Q1 2017 – 17,056 requests
The increase in the number of payment requests submitted is largely due ML LLC taking over AMI/Spectocor customers as a result of conclusion of the final settlement and the agreement dated 28 December 2016, which the Company announced in current report No 42/2016.
The taking over of AMI/Spectocor customers, which translates into an increase in the number requests submitted by ML LLC for payment from insurers, was carried out gradually during Q1 2017. In the last two weeks of March 2017, the number of requests issued was 3,625 and was higher by 69% than the average number of requests submitted by ML LLC in 2016.
The Issuer’s Management Board expects a further increase in the number of requests submitted by ML LLC for payment from insurers during the subsequent weeks.