Medicalgorithmics, a Warsaw Stock Exchange–listed developer of an advanced AI-driven ECG analysis platform, has signed a new agreement with its long-standing Canadian partner specializing in home-based Holter ECG diagnostics. Under the contract, the client will purchase at least 2,000 additional units of the company’s Kardiobeat.ai device. The cooperation, valid until March 2028, will generate a minimum of USD 5.9 million in revenue for Medicalgorithmics.
The new agreement follows the acquisition of the Canadian partner by a major U.S. healthcare corporation listed on the New York Stock Exchange. The American buyer plans significant expansion in the Canadian market — a development Medicalgorithmics expects will accelerate its growth in Canada and increase its long-term revenue potential.
2,000 New Devices for Canada
The order includes at least 2,000 units of Kardiobeat.ai, a lightweight and wireless Holter ECG recorder. The device allows continuous ECG monitoring from 24 hours up to 18 days and is fully compatible with Medicalgorithmics’ software ecosystem.
“We have worked with our Canadian client — our second-largest partner after U.S. IDTFs — for many years. Until now they have used several thousand PocketECG units and several hundred Kardiobeat.ai devices. This new order for at least 2,000 units and the client’s transition to our AI-powered platform shows that we deliver future-proof technology recognized by global medical leaders,” said Dr. Kris Siemionow, CEO of Medicalgorithmics. “A significantly larger number of devices in use should translate into a higher number of recorded sessions — and therefore greater revenue potential.”
Client Acquired by a Major U.S. Diagnostics Company
The Canadian partner specializes in home-based Holter ECG testing. Its services rely on fast, accurate diagnostics supported by Medicalgorithmics’ algorithms and equipment. This year, the company was acquired by one of the leading U.S. diagnostic corporations listed on the NYSE — directly resulting in the expanded contract.
“The contract update follows this year’s acquisition of our partner by a U.S. healthcare giant. This is a very positive signal for our business development in Canada, but also in the United States,” Dr. Siemionow added. “We see a strong opportunity in the fact that their new owner plans to rapidly expand operations in Canada — and we intend to support the entire group.”
A Record Year for Medicalgorithmics
Medicalgorithmics has been expanding rapidly in 2025, securing new clients and reactivating previous ones. The company has signed a record 19 contracts this year — already more than in all of 2024 — driving a sharp increase in its share price. Since January, the company’s market value has doubled, making it one of the best-performing investments on the Warsaw Stock Exchange in 2025.
New agreements signed in 2025 include:
- a contract with one of the five largest U.S. IDTFs,
- an agreement with a European IDTF,
- a partnership with a U.S. deep-tech company integrating advanced materials, sensors and AI,
- two commercial VCAST deployments — in the Turkish market, the strategic Scandinavian market and Saudi Arabia.
