Statement of the CEO

Our year featured breakthrough orders from the UK and Switzerland, as well as several million-kronor orders from South Korea. In addition to this, our sales start in the USA, enabled by a successful start-up and fantastic hirings in our US organization, was the highlight of the year. TetraGraph® is also now trialing on different markets, putting us in an excellent starting position for 2021.

Sales in December were the best month in Senzime’s history. In Switzerland and the UK, we’re seeing examples of hospitals upgrading from older, analog technology to TetraGraph®, which with its digital platform, is suitable for all types of surgery. User-friendliness and precision were additional contributors to this change. We’re also seeing a large number of hospitals considering trialing our systems, which I’m delighted by, considering hospitals are still partly closed.

Moreover, signing a distribution agreement with The Surgical Company—the leader on the French anesthesia market—­was momentous. This gives us rapid access to the French market, while we took our first order for one of the country’s teaching hospitals.

Sales of disposable sensors continued in South Korea, with several orders taken in the year, clearly demonstrating the leverage in our business model.

We successfully completed two private placements, raising total proceeds of some SEK 170 m. It feels fantastic to have confidence renewed by existing shareholders, as well as new investors. We’ll be using this capital to keep building our own sales resources in the USA and Germany, producing flexible products and service propositions, and developing AI algorithms and cloud-native services to address the differing needs of hospitals, but also for relocate of our manufacturing to consolidate Senzime’s know-how, streamline product development and expand our gross margins.

Our business helps improve global health. Senzime will be an active contributor to sustainable development by acting responsibly, and consistent with our core ethical values.

In the year, we updated our targets, for Senzime to be the market leader in its segment and achieve a minimum global market share of 10% in the long term on a market worth some SEK 15 billion per year. In 2023, Senzime will achieve minimum sales of SEK 200 million, with a sales increase of 100% on 2022.

In closing, I’d like to thank the physicians, clinicians, shareholders and my colleagues who have been part of Senzime’s exciting journey. Your confidence in us during what I can confidently describe as a challenging 2020, was decisive for our capability to achieve the vision of a world without anesthesia-related complications. Everything suggests we have a lot to look forward to in 2021!

Uppsala, April 2020

Pia Renaudin, CEO