MedApp, an innovative player in the field of advanced medical technologies (SaMD – software as a medical device), on April 14, 2022 applied to the Management Board of the Warsaw Stock Exchange for the introduction of all previously unlisted shares to trading on the NewConnect market.
“Due to the high volatility of the capital market, we have temporarily suspended the prospectus procedure, but at the same time we want to introduce not yet admitted shares to trading on NewConnect,” says Krzysztof Mędrala, CEO of MedApp S.A.
MedApp has applied to the Board of the Warsaw Stock Exchange for the listing of nearly 209 million series D, E, F and G shares, which have so far remained outside the stock market. That’s 83.5% of the total 250 million shares into which the company’s capital is divided.
MedApp consistently leverages the international sales potential of its 3D holographic visualization and digital medicine technology solutions. The company has grown dynamically, and as a result is not only entering new markets and expanding its product portfolio, but also rapidly increasing its current financial performance: MedApp doubled its revenue and profits in 2021.
Geographic expansion and product portfolio development
Since 2021, MedApp has been signing foreign distribution agreements and expanding sales channels in Poland. Concluding distribution agreements with new partners has also resulted in entry into the Brazilian market. In March 2022, MedApp began the process of registering its first foreign company, which will be responsible for business development in the German, Austrian and Swiss markets. MedApp S.A., in cooperation with Parexel, is preparing to apply for certification for CarnaLife Holo with the FDA, which is a necessary condition to enter the world’s largest medical market, the United States.
MedApp develops functionality for solutions based on 3D holographic visualization (CarnaLife Holo) and digital medicine platform, CarnaLife System. In the first quarter of 2022, MedApp received a grant from the National Center for Research and Development to create a mixed reality navigation tool for physicians (CarnaLife Holo MedNav). The company has also signed an agreement with Helimed Diagnostic Imaging network to develop Radiology Information System (RIS) software to store and manage medical imaging data, which will ultimately be integrated with the CarnaLife System platform. After the implementation of RIS in the Helimed network, MedApp plans (from the second quarter of 2023) to launch the sales of this solution in other diagnostic imaging facilities in Poland.
MedApp is an innovative technology company, so its potential is naturally enhanced by the appreciation of the technologies by independent experts. In addition to numerous accolades, last October, Google selected MedApp for its accelerator program as one of the top fifteen medtech startups in Europe. In February this year, MedApp won the OVHcloud competition for medtech companies.
