Senzime increases focus on the market for anesthesia monitoring and communicates sales targets
Press release: Uppsala, July 9, 2019. Senzime AB (publ) announces today that the company has chosen to increase its focus on the market for anesthesia monitoring as a result of the increased interest in the company's patient monitor, TetraGraph, which is in a global rollout phase. The company also communicates sales targets for 2019.
Senzime develops unique medical technology solutions that aim to reduce complications in connection with operations, with reduced healthcare costs and increased patient benefit as a result. During the spring of 2019, the Board and management carried out a strategic review of the company's product and development portfolio. Based on the market situation and the global demand for the company's patient monitoring system, the company has decided to focus its operations on the market for anesthesia monitoring. Other development projects are incorporated into the new business area Senzime Labs.
TetraGraph is a system for monitoring patients under anesthesia receiving muscle relaxant drugs. The system makes it possible, during surgery, to easily and objectively ensure the correct dosage of drugs and to determine when it is safe to awaken the patient. The system is currently market-approved in Europe and South Korea with several signed distribution agreements. Application processes are under way in Japan where a launch is expected during this year together with the company's licensing partner, and in the US where the company plans to operate through its own subsidiary.
Senzime expects to soon pass 100 delivered TetraGraph systems to, among others, South Korea, Spain, Ireland, Switzerland, Hungary, Italy, Portugal and Sweden. Based on on-going dialogues with distributors and partners, Senzime has a target to deliver 300 TetraGraph systems in 2019.
"We focus the business completely in line with market demand and obvious commercial opportunities. More and more countries are now introducing clinical guidelines that are fully in line with our device, TetraGraph, based on digital and objective patient monitoring. Other development projects are gathered in a new business area in order to be licensed or commercialized in-house at a later stage.”, says Pia Renaudin, CEO at Senzime
Senzime develops unique patient-oriented monitoring systems that make it possible to assess patients' biochemical and physiological processes before, during and after surgery. The portfolio of technologies includes bedside systems that enable automated and continuous monitoring of life-critical substances such as glucose and lactate in both blood and tissues, as well as systems to monitor patients’ neuromuscular function perioperatively and in the intensive care medicine setting. The solutions are designed to ensure maximum patient benefit, reduce complications associated with surgery and anesthesia, and decrease health care costs. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 10 billion. The company's shares are listed on Nasdaq First North (ticker SEZI). FNCA Sweden AB, +46 (0)8-528 00 399, email@example.com, is Certified Adviser for Senzime. www.senzime.com
This information is insider information that Senzime AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, on July 9, 2019, 09.45.
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