Acarix A/S (ST:ACARIX) has made its first sale in the crucial German market to a private cardiology clinic in Berlin. This follows the first sale in Denmark. Germany has a strong private healthcare insurance sector (about 10% of people covered), which might adopt quickly given that there are stated to be over one million hospital cardiac assessments each year, mostly unnecessary. Major German and EU sales will, however, have to wait for public reimbursement probably from 2019 onwards. US marketing will probably require a US clinical study, with sales from 2021 possible. The unchanged indicative value remains at SEK728m, equal to SEK31.62/share.
Selling to the heart of Germany
The German first sale was to a private clinic cardiology based in Berlin headed by Dr. med. Niels Jacobsohn. Dr Jacobsohn commented ”New innovative technologies, such as the Acarix CADScor System, help to avoid invasive procedures in patients without Coronary Artery Disease [CAD] and additionally to reduce costs”. Germany has many private medical insurance providers who may reimburse the CADScore test and there can also be private patient sales. Acarix has made a sale in Denmark to Herning Hospital, involved in clinical trials. Acarix has employed three German account managers plus one in Scandinavia. However, 90%+ of sales into Germany will require public reimbursement, possible from 2019.
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