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Hemcheck's Newsletter - May 2022
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May has been very hectic in many ways and we are making progress on several fronts. In total, it’s one of the best months for Hemcheck overall in terms of achievements, so we feel excited about the way forward.
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A huge milestone during the month was the CE-marking of our products for diagnostic use which opens up new markets and increases the profitability potential. We already have interested potential customers and hope to convert these into sales.
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Achieving compliance with IVDR was another big thing and a project that we have been working on for the last year. While IVDR compliance is necessary for continued sales efforts, it is not easily achieved and a lot of work is behind this milestone. I want to extend a big thank you to the team who has worked hard on both these projects!
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On the customer side we have continued to visit trade fairs and have further improved our pipeline of prospective customers and collaboration partners. We got several new orders during May which is very positive, and I am especially glad that we got orders from new customers and that there is interest in our new bgs-Test.
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Lastly, the board decided to initiate a rights issue to raise additional capital to the company during June. This is very important for us to be able to continue our journey and to realize the commercial potential of the products that we have developed over the years. With many positive developments achieved lately and good prospects going forward we hope to get continued confidence and support from our investors in order to take the next step with the company.
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More information about the news above can be found in the newsletter!
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First order and follow-up order from Kuressaare hospital, Estonia
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Hemcheck received a first order from Kuressaare hospital in Estonia in early May, regarding v-Tests. The order was of lower economic value, however important given it was a new customer and for the potential of additional follow-up orders. Kuressaare hospital is Hemcheck’s third customer in Estonia after Tartu University Hospital and Narva Hospital.
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Hemcheck has also received a small follow-up order from the same hospital later in May, regarding hemolysis detection in connection with blood gas analysis. The order was for bgs-Test.
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Hemcheck compliant with IVDR
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Hemcheck finalized all documentation and sent the required documents to the Medical Products Agency in Sweden during May, to comply with the new IVDR regulations. The work has been ongoing for a long time at Hemcheck, and compliance to the IVDR regulations is a requirement to maintain the CE marking from May 26, 2022 onwards.
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CE marking products for diagnostic purposes
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After an efficient process, Hemcheck has CE-marked its products for diagnostic purposes. This strengthens the sales and profitability potential as it enables sales to new segments and at clearly higher price levels than today.
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First follow-up order from Irish distributor
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Hemcheck has received a first follow-up order from its Irish distributor, Cruinn Diagnostics (“Cruinn”). The order regarding bgs-Test, is of lower economic value, but is linked to a university hospital that has a clear interest in evaluating the technology and in the next stage possibly implementing the solution in its daily operations.
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Agreement regarding a project with Region Skåne, Sweden
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Hemcheck has signed an agreement with Laboratory Medicine in Region Skåne, Sweden. The agreement involves minor revenues for Hemcheck and is for a project where Hemcheck’s v-Test with equipment configured for diagnostic purposes, is used.
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EuroELSO, London
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The 10th EuroELSO Congress took place on May 4-6, 2022 in the Queen Elizabeth II Conference Centre in London. The congress gathered intensivists, cardiologists, cardiac surgeons, pediatric and neonatology specialists, perfusionists, ICU nurses, etc. in order to share their clinical experience and discuss new technologies and latest directions in research.
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EuroELSO has the objective to join all the European health care professionals and scientists who are dedicated to the development and evaluation of novel therapies for support of failing organ systems with extracorporeal life support. EuroELSO also provides educational programs for active centers as well as for the broader medical and lay communities.
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Joen Averstad, CEO och Peter Andersson, Sales & Marketing Manager participated as representatives from Hemcheck. There was great interest in the Hemcheck product portfolio from many of the several hundreds of congress participants. Pre-booked meetings were also hosted where leading professors, physicians, clinical specialists and scientists could discuss and plan upcoming tests and studies at various hospitals.
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Leads, including potential distributors in the European market within the ECMO area, are to be followed up in the upcoming weeks.
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