Medfield Diagnostics SEK 32.5m Rights Issue | Q2 2023

About Medifled Diagnostics:

Medfield is a medical technology company that has developed the product MD100 Strokefinder, a device powered by AI and microwave technology that can distinguish stroke patients from healthy individuals and differentiate between strokes caused by a clot and those caused by a hemorrhage. By routing the patient directly to a stroke or trauma center, qualified treatment can be started much faster, leading to time savings, faster care, better outcomes, and lower healthcare costs. The company generates revenue through the sale of the MD100 system, software upgrades, service and maintenance, and disposable materials.

MD100 Strokefinder - paradigm shift in diagnostics of stroke:

MD100 Strokefinder is a cutting-edge solution for stroke and trauma patients, offering a unique solution to the global problem of timely detection and treatment of strokes. Powered by AI and microwave technology, the device can distinguish stroke patients from healthy individuals, improved algorithms will differentiate between strokes caused by a clot and those caused by a hemorrhage. The instrument is designed for use in mobile settings like disaster relief units, ambulances, helicopters, air, sea and Emergency Departments (ED´s). By routing the patient directly to a stroke or trauma center, qualified treatment can be started much faster, thereby reducing healthcare costs and improving outcomes. Time to treatment is critical in stroke and head trauma care, as every minute without proper treatment leads to the death of approximately two million brain cells. The use of MD100 Strokefinder leads to time savings, faster care, better outcomes, and lower healthcare costs.

Press release (in Swedish):

The case:

The company generates revenue through the sale of the MD100 system, software upgrades, service and maintenance, and disposable materials, making it a sustainable business model. Medfield has conducted clinical studies in Sweden, Norway, and Australia and plans to conduct additional studies in the UK to improve its product and expand into new markets. Achieving CE-certification, commercial launch, and signing distributor agreements demonstrate the company's commitment to growth and success.

With recently signed distribution agreements in Greece, a signed Memorandum of Understanding with Allytec AB, for sales in the Swedish & Nordic market, with Promed S.r.l, for sales in the Italian market, and with Offshore Health Services AS for sales in the Norwegian market, the Company is ready to scale up and commercialize the MD100 Strokefinder.

Website: https://www.medfielddiagnostics.com/