Press release: Uppsala January 3, 2022. Senzime provides a business update regarding ongoing businesses, evaluations, and key figures. Sales secured in 16 hospitals; one hospital chose a competing product.
Senzime develops and markets CE and FDA approved systems that in real time confirms correct level of anesthetics before, during and after surgery to objectively determine when it is safe to wake the patient up. Senzime’s unique TetraGraph system measures the depth of the patient’s muscle block digitally and with advanced algorithms with the help of patented disposable sensors which are the lever in the business model.
The TetraGraph system is normally sold through distributors or direct sales with hospitals being the end customers. Most evaluations are carried out in several stages where Value Analysis Committees often make final purchasing decisions based on clinical and financial rationale. The pandemic has led to longer sales processes for new technologies, but Senzime now sees increased access to hospitals.
Senzime announced on November 12, 2021, that trials were underway or were planned in more than 60 hospitals worldwide.
At the end of December 2021, the number of ongoing or planned trials worldwide amounted to 74 hospitals with a total future potential of 1,150 TetraGraph systems. Of these, some trials are planned or ongoing, others have been completed with positive results and others are awaiting purchasing approval.
During the fourth quarter of 2021, Senzime secured TetraGraph sales in 16 hospitals worldwide. These hospitals are now gradually starting to purchase from Senzime. One evaluation was lost to a competitor. The initial deal at each new hospital usually corresponds to a couple of TetraGraph systems as a first order, with the aim of filling all operating rooms at each hospital over time.
As previously communicated Senzime estimates that the Lifetime Value (LTV) of a delivered TetraGraph, including the use of TetraSens sensors, amounts to 250 TSEK over 5 years with a gross margin exceeding 65 percent.
“We ended 2021 in a strong position, and we are full of self-confidence going in to 2022. There are currently more evaluations of TetraGraph ongoing than ever before. We note that a high proportion of these turn into sales and that the use of the disposable TetraSens sensors is high. There are on average 40 and 8 operating rooms per hospital in the USA and Europe, respectively, and our new and MDR-certified production facility ensures the required delivery capacity”, says Pia Renaudin, CEO of Senzime
Senzime develops and markets CE- and FDA cleared patient monitoring systems driven by unique algorithms and sensors to closely monitor patients under anesthesia. TetraGraph is a system that digitally and continuously measures the degree of neuromuscular blockade in the patient. The goal is improved clinical precision and simplified management in healthcare. By preventing complications and enabling healthcare professionals to follow guidelines and drug recommendations, TetraGraph can contribute to shorten hospital stays and lower healthcare costs. The vision is a world without anesthesia related complications, where everyone wakes up safely after surgery. Senzime operates in growing markets that in Europe and the United States are valued in excess of SEK 15 billion. The company's shares are listed on Nasdaq Stockholm’s main market (ticker SEZI) since June, 30 2021. www.senzime.com