Medicalgorithmics S A : Expands Its Activities in Canada

Medicalgorithmics has signed annex to its agreement with Canadian company m-Health Solutions Inc. owned by ELNA Medical Group Company, which entails the delivery of the latest generation PocketECG IV devices. The plan also includes the integration of Medicalgorithmics' software and algorithms with holter wearable devices from dms-service llc that m-Health Solutions Inc. offers, facilitating data analysis of EKG and improving cardiac diagnostics for the Canadian company.

m-Health Solutions Inc. specializes in cardiac diagnostics and remote heart monitoring. Since recently it is part of ELNA Medical Group. The company is a strategic partner of Medicalgorithmics in the Canadian market. In 2018, Medicalgorithmics signed a distribution and sales agreement with m-Health Solutions for its arrhythmia diagnostic system in Canada. The recently signed annex includes, among others, the replacement of older version of PocketECG with the latest LTE-M generation of PocketECG IV targeting by the end of 2023, as well as a 4-year equipment leasing period.

"We are delighted to deepen our collaboration with m-Health Solutions Inc., which includes the replacement of a few thousand devices of PocketECG III and the integration of third party devices from dms-serice's that our Canadian partner uses with our advanced cardiac diagnostic software and algorithms. This proves that our recently announced strategy of unbundling software from hardware and integration with other devices works. What is also worth noting is the extended 4-year equipment leasing period, which demonstrates customer trust and engagement in our technology that meets customer expectations," says Jarosław Jerzakowski, Chief Commercial Officer at Medicalgorithmics and adds, "Canada is our second most important market after the United States, with a revenue potential of at least several million USD per annum." - concludes Jarosław Jerzakowski.

Medicalgorithmics has been actively operating in the North American market in line with the objectives outlined in its new development strategy for 2023-2026. Recently, Medicalgorithmics forged a partnership with dms-service, one of the leading American providers of cardiac monitoring equipment, involving the integration of the American company's devices with the platform developed by Medicalgorithmics, along with software based on artificial intelligence algorithms.

In April, Medicalgorithmics received certification from the Canadian Ministry of Health, allowing the use of the PocketECG IV system and software in Canada. This is the first market where the latest version of the PocketECG IV transmitter with new LTE-M communication technology will be utilized.

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• July 31, 2023