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26 May 2021

MedAppS.A. strengthens its distribution network in Poland by signing a contract worth nearly EUR 6 million

MedApp, a medtech company that offers solutions based on artificial intelligence, mixed reality, and 3D modeling and imaging, among other things -is strengthening its distribution network. The company signed a distribution agreement with its Polish partner Medical Idea sp. z o.o., enabling doctors and Polish medical facilities specializing in cardiology, oncology, orthopedics, radiology or laryngology to gain easier access to MedApp S.A. proprietary solutions.

MedAppS.A. is consistently expanding its distribution structure. On May 26 this year, under the concluded agreement, Medical Idea sp. z o.o. was granted the status of an exclusive distributor of CarnaLife Holo technology in Poland, providing MedApp with new opportunities to reach hospitals and medical teams in Poland. The granted exclusivity rights do not limit the Company’s ability to conduct direct sales.

“The distribution agreement with Medical Idea gives MedApp more opportunities than before to reach clinicsand hospitals performing specialized procedures. We are seeing more and more interest in using our technology by hospitals and clinics, which is very motivating for our whole team. We are in talks to implement our core applications CarnaLife Holo as well as CarnaLife System at more clinics or hospitals. The use of competence and experience of distributors who offer our solutions to the target customers, such as clinics, hospitals and outpatient clinics, will allow us to respond even faster to the needs associated with the use of solutions offered by our company. Cooperation with the new Distributor should also translate into higher sales,” says Krzysztof Mędrala, CEO of MedApp S.A.

The three-year sales value specified in the Agreement is EUR 5,992,000 (according to the NBP rate of May 25, 2021: PLN 26,847,755). The contract allows the Partner to conclude sub-distribution agreements, which, according to the adopted business model of the company and similarly as with other foreign distributors, will be possible only after prior approval by MedApp S.A.

The partners have already performed their first joint surgical procedures using CarnaLife Holo at the Independent Public University Hospital No. 1 in Lublin.

“Establishing cooperation with MedApp S. A. opensnew opportunities for Medical Idea, whose mission is to co-create and develop the medical industry by creating and implementing innovative technologies.We especially appreciate the idea of making innovative solutions come true, resulting in increased innovation and competitiveness in the medical industry. Medical Idea as apartner of MedApp S.A. aims at introducing modern technologies to the market, strengthening the existing distribution networks in Poland and expanding the new ones. The effects of our cooperation will translate into specific solutions for the development of medicine, enabling optimization of the quality of medical services not only in Poland but also abroad,” says Rafał Matusiak, CEO of Medica Idea sp. z o.o.

The CarnaLife Holo system is a breakthrough technology for 3D visualization of imaged medical data.

Medical Idea sp. z o.o.is a Polish distributor of medical equipment and devices, which continues its long-standing activity in the medical industry. It was created on the basis of experience gained from cooperation with leading Polish and foreign partners, e.g.,from the United States and China. For a decade, Medical Idea sp. z o.o. has specialized in implementing innovative solutions and technologies in medicine, assisting in almosta thousand medical procedures. Medical Idea has also participated in significant international research projects and numerous scientific conferences, successively strengthening itsposition on the market and building trust among its business partners.

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