An innovative company from the Medtech industry – MedApp – continues to expand, using the sales potential of its technological solutions in the field of holographic visualization and digital medicine. The latest information on Mexico and Brazil as well as the Czech Republic, Slovakia, Hungary and Finland. The exclusive distributor of MedApp CarnaLife Holo – a system for 3D visualization of medical data – in the territories of the Czech Republic, Slovakia, Hungary and Finland is Promedica Praha Group – one of the leading distributors of medical solutions, whose business history dates back to 1991.
MedApp continues to expand and pursues new goals
We are convinced that together we will achieve ambitious sales targets, provide patients in other countries with a higher standard of medical care, and tangible advantages for local doctors and hospitals, including economic benefits. Our technology solutions have global potential and we are constantly trying to use them – Krzysztof Mędrala, Chairman of the Board of Directors of MedApp SA . confirms
After acquiring a distributor in Brazil and hiring a sales representative there, MedApp recently applied to Agência Nacional de Vigilância Sanitária (Brazilian Health Agency) for a Certificate of Compliance for the CarnaLife Holo solution, which will enable the transition to the next stage of activity in the Brazilian market.
– North and South America are very important markets for us, especially the United States, Canada, Brazil and Mexico – Refers to the head of Mędrala.
MedApp has just received a positive decision to award a grant from European funds to start the process of entering the Mexican market under the European Regional Development Fund – Smart Operational Program for Development, 3rd Priority Axis “Supporting Innovation in Enterprises”, Action: 3.3. “Support for the promotion and internationalization of innovative companies”, sub-action 3.3.1 “Polish technological bridges”. A project worth 180 thousand PLN (cash support PLN 120000) will be implemented in cooperation with the Polish Agency for Investment and Trade (PAIH), the goal of which is to develop an effective strategy for entering Mexico with the support of foreign PAIH offices.
MedApp SA, in cooperation with an experienced partner – Parexel, is also preparing to apply for certification of the CarnaLife Holo solution in the US FDA, a necessary condition for entering the largest medical market in the world, which United states.
It should be noted that at the beginning of 2021, MedApp signed the first foreign distribution agreements in the markets of Great Britain, France and Luxembourg and expanded its sales channels in Poland. This was followed by the entry into Brazil and the creation of a distribution company for the German-speaking markets. Development plans also cover other countries, and international expansion may be accelerated by attracting new investors. The company announced at the beginning of April this year. Choosing Haitong International Bank as the entity responsible for carrying out this operation.
MedApp also develops the functionality of solutions based on CarnaLife Holo, 3D holographic visualization and digital medicine platform, CarnaLife System. Product suite development initiatives led to grants from EU funds to create a navigation tool for clinicians (CarnaLife Holo MedNav) and the signing of an agreement with Helimed Diagnostic Imaging Network to create Radiology Information System (RIS) software, which will be used to store and manage image data and eventually be integrated with MedApp CarnaLife System Telemedicine Platform.
MedApp is an innovative technology company, so its capabilities naturally increase the appreciation of technology by independent experts, which also proves the strength and efficiency of the team. In addition to several awards, in October of last year, Google selected MedApp for its acceleration program as one of the fifteen best medical technology startups in Europe. In turn, in February this year. MedApp won the OVHcloud competition for medtech entities.
Dynamic development translates not only to the probability of future periods, but also to current financial results. After the four quarters of 2021, MedApp recorded 12.7 million PLN in net sales revenue, which is 111% more than the previous year. The EBITDA result increased by 139%, reaching PLN 6.3 million, and the net profit was twice as much as in the previous year, reaching the level of PLN 3.8 million. The company can also boast of high profitability.
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