Under this new model, clinics gain access to the Acarix CADScor System on a consignment basis, contingent upon meeting monthly minimum usage thresholds for single-use patches. By also sharing financial risk with users,
Mahmood further commented, "Our new mission is to establish ourselves as a market leader within acoustic- and algorithm-powered rapid cardiac diagnostics. With a steadfast focus on profitability, we are committed to expanding our footprint in the US market and cultivating recurring sales across diverse customer segments. Key drivers of our growth strategy include broader reimbursement coverage, diversified sales channels, strategic partnerships with industry and clinical leaders, and more clinical study collaborations to prove outcomes."
In alignment with ongoing strategic review and to better facilitate the transition to a nationwide CPT I reimbursement code for the CADScor System, the company is revising its financial targets presented in 2021. Acarix’s new, revised financial targets are focused on growth, maintaining current gross margins, securing cost control, and ultimately reaching a strong EBITDA margin. The new targets underscore the company's renewed focus on sustainable growth, profitability, market leadership and concerted focus on the US market. More detailed results, selected KPIs related to the new business model, and outlook will be presented to market in the quarterly reports, and further detailed in a planned Capital Market’s Day later in 2024.
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