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Dato/tid 20.01.2017 11:38
Utsteder Medistim ASA
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Tittel Medistim establishes direct sales operations in Spain
Tekst
(Oslo, 20th of January 2017) Medistim ASA (OSE: MEDI), 
a Norwegian company that develops and commercializes 
medical equipment for use in cardiac, vascular and 
transplant surgery, announces that they are 
establishing a subsidiary and sales force in Spain.

Medistim has terminated its distributor agreement in 
Spain and established a new subsidiary, Medistim Spain 
S.L. With two territory sales managers based in Madrid 
and Barcelona, this new subsidiary will serve our end 
customers directly with support from the Head Office 
in Oslo.

Annually, around 7.000 coronary artery bypass surgery 
(CABG) procedures and 8.000 vascular procedures are 
performed throughout the 56 cardiac centers and 75 
vascular centers in Spain. Medistim currently has an 
installed base of 80 systems, most of them on the 
VeriQ platform and older versions that only include 
flow measurement and do not support the imaging 
modality. Medistim now has great potential to upgrade 
the installed base to the MiraQ platform, which 
provides the combination of ultrasound imaging and 
transit time flow measurement (TTFM) in one system. 
Medistim's technology is used in upwards of 80% of all 
coronary surgical procedures as the installed base is 
primarily in cardiac centers. This also shows there is 
an untapped potential in the vascular market where 
only a small number of Medistim systems are installed. 

Medistim has been successful with direct sales and 
customer support through its other subsidiaries in the 
United States, Germany, UK and Denmark and is well 
prepared to create results with the new establishment 
in Spain. The company already has a solid revenue base 
from probes, which are consumables to the installed 
base.

"We are very pleased with  the fact that we have a 
direct operation in Spain. This will allow us to take 
the lead to ensure that the installed base is upgraded 
to the MiraQ platform with the combined TTFM and 
ultrasound imaging technology" says Medistim's 
President and CEO, Kari E. Krogstad. "Through direct 
representation we will ensure that the hospitals get 
the best support and service. The timing is also 
opportune with regards to the vascular potential that 
we have in Spain and there is already substantial 
interest among new potential customers. With this 
endeavor we are showing that we are serious about 
establishing flow measurement and ultrasound imaging 
technology as the 'standard of care' in Spain, within 
both coronary and vascular surgery. We are working to 
achieve routine use of the MiraQ system for the 
benefit of surgeons and their patients as well as the 
healthcare system in general." 

About Medistim 
Medistim is a medtech company that develops and 
distributes ultrasound based surgical guidance and 
quality assessment devices.  With headquarters in 
Oslo, Norway, Medistim was established in 1984, and 
has a track record of profitable growth over the past 
>10 years.  The company is a pioneer within its 
segment, and continues to invest in new product 
development.  Medistim has wholly owned subsidiaries 
with sales organizations in the USA, Germany, UK, 
Denmark and Norway, in addition to about 50 
distributors in Europe, Asia, Middle East, Africa and 
South America.   

For more information, visit the Medistim home page:  
www.medistim.com or contact:

President and CEO, Kari E. Krogstad, Medistim ASA 
Tel: + 47 918 38 110  
E-mail: kari.krogstad@medistim.com 

CFO, Thomas Jakobsen, Medistim ASA
Tel: + 47 906 59 940  
E-mail: thomas.jakobsen@medistim.com 


This information is disclosed under Norwegian law 
(Verdipapirhandelloven §5-12).

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