Statement of the CEO
We started the year strongly with an important order from South Korea which means that our distributor Unimedics, has placed its third major order since August 2019. This is a confirmation of physicians’ interest in TetraGraph® and that Unimedics sales to hospitals are increasing in South Korea.
We have built a solid foundation for the commercialization of TetraGraph® in the USA. All our processes were up and running in the first quarter and we have now received the first orders from customers in the US. Chris Estes started as General Manager at the beginning of January 2020 and since then, the US organization has been strengthened with a Vice President Sales leading the work on direct sales to hospitals.
In February, we signed a distribution agreement with Healthcare 21 in the UK which gives us access to a market of over 1,250 hospitals and with clear requirements and recommendations for switching to objective patient monitoring. A few weeks later, breakthrough deals came to NHS hospitals Medway Maritime Hospital and Sherwood Forest Hospital, which together provide hospital services to nearly 1 million patients annually. Both hospitals are now switching to using TetraGraph® to monitor patients undergoing anesthesia with neuromuscular drugs.
Senzime, like the rest of the world, is affected by COVID-19, but this has so far not affected our access to components and production capacity and our assessment is that we will be able to deliver products and services without interruption through the Corona crisis. We work actively to support customers and partners remotely with the help of digital tools. The basic need for neuromuscular monitoring remains even if planned surgeries are postponed making room for emergency care or free medical personnel. This can affect the timing of demand in the short term, but it is too early to comment on this.
In early April, we completed a directed new issue of shares of SEK 73.5 million before issue costs. The strengthened cash provides the conditions for accelerating our roll-out of TetraGraph® and continuing our expansion in the US as well as in Europe and Asia.
Uppsala in May 2020, Pia Renaudin, CEO of Senzime AB (publ)