Statement of the CEO

The launch of TetraGraph continues and although sales initially may be a bit uneven between quarters, it does not affect our estimated sales of SEK 100 million within three years. The installed base of monitors continues to increase, which in the long run means increased sales of disposable electrodes, where we will see significant sales growth as well as higher margins.

During the third quarter we have contracted with distributors in additional markets, including Italy. During the current quarter, distributors, salespeople, doctors and nurses are being trained. Educational efforts take time and resources, but they are necessary for a successful market introduction of the system.

An important event in October was ASA’s annual meeting – the largest anaesthesia-related education event in the world, bringing together the most influential and important persons within anaesthesiology, pain medicine and critical care. During the meeting, our distributors from Australia, New Zealand and South Korea participated, and there was great interest in our technology and solutions.

Our long-term ambition is to ensure maximum patient benefit and reduce complications associated with surgery and anaesthesia, resulting in significant medical benefits as well as commercial potential. So far we do not anticipate any obstacles to reaching our goals. On the contrary, we see increased interest in our products and we have put together an organization that can meet continued sales growth.

We have begun the commercialization of our patient monitoring system, and so far we feel secure with our product as well as stated sales targets. We are committed to become world leader within our important segment, and we look forward to continued reporting of our progress.