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16 February 2023

MedApp after Q4 2022: continued development of digital medicine technology solutions and acquisition of new sales contacts

MedApp, a listed company in the field of innovative technologies for medicine, despite the challenges of medical facilities related to rising maintenance costs and general economic uncertainty, recorded in the fourth quarter of 2022 1,026 thousand PLN in sales revenue, 513 thousand PLN in EBITDA and 480 thousand PLN in net profit.

As in the previous quarters of 2022, the Company is observing an extension of sales processes in the Polish market, trying to shift sales activity to foreign markets. To this end, the Company has signed further distribution agreements for the CarnaLife Holo solution – with LIVARTIX SRL in Romania and with TND LLP in Kazakhstan (for distribution in Kazakhstan, Kyrgyzstan, Uzbekistan, Turkmenistan and Mongolia).

MedApp is continuously analyzing the growing market for holographic medical data visualization for potential use in its solutions.

– In December 2022, we registered MedApp RT Sp. z o.o., thus developing the MedApp Group. MedApp RT was established to carry out development and R&D work on the use and adaptation of our technology in the field of radiotherapy. Consequently, we plan to develop a new product dedicated to this specialty,” informs Krzysztof Mędrala, CEO of MedApp S.A.

In October 2022, MedApp received confirmation from the European Union Intellectual Property Office, registration of the word mark of two flagship products: CarnaLife Holo and CarnaLife System. The marks enjoy legal protection in the EU territory for the next 10 years.

– MedApp is focusing on the development of the offered technologies while continuing the search for a strategic investor who will recapitalize the Company, which will enable its further development on foreign markets and will be a tangible support in the advanced process of approval of CarnaLife Holo as a medical device, for marketing in the United States by the U.S. Food and Drug Administration (FDA),” says Krzysztof Mędrala, CEO.

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