Medistim (MEDI) CMD 2024 summary

Strategic direction and growth outlook

• Focus on accelerating growth through innovation, expanding direct market coverage, and converting high-penetration flow-only CABG markets to flow and imaging modalities.

• Emphasis on under-penetrated regions, flexible pricing, and business models to drive adoption.

• Recovery in key markets, especially the Americas, with 17% currency-neutral growth in Q3, and expectations for normalization in Asia-Pacific.

• Targeting NOK 1 billion in annual sales within a few years, despite recent macroeconomic headwinds.

• EBIT margin expected to return to historical levels, supported by higher own-product growth and manufacturing automation.

Product innovation and new business developments

• Launch of INTUI software platform, offering a modernized, intuitive interface, improved reporting, and enhanced data integration for surgical decision-making.

• INTUI developed in close collaboration with surgical communities, aiming to simplify use and broaden adoption among routine surgical teams.

• New software enables standardized data collection, graphical procedure mapping, and user-configurable reference values.

• Upgrade kits for existing MiraQ systems and a price increase for new devices with INTUI software present commercial opportunities.

• Ongoing development of sixth-generation hardware and future features leveraging machine learning for interpretation guidance.

Market trends and clinical validation

• CABG and vascular surgery markets remain robust, with over 700,000 CABG and 500,000 peripheral bypass procedures annually.

• Adoption of Medistim technology is highest in Japan and Europe, with growing penetration in the U.S. and emerging markets like India.

• Clinical studies, such as REQUEST and the new PATENT study, support the value of intraoperative flow and imaging assessment, showing improved patient outcomes and reduced graft failure.

• Recent trials (e.g., BEST-CLI) highlight the superiority of bypass over endovascular treatment in select patient groups, reinforcing the need for quality assessment tools.

• PATENT study aims to establish evidence and guidelines for completion control in peripheral bypass, with a NOK 25 million investment and global participation.