Zenicor (ZENI) Investor Update summary

Business overview and market positioning

• Specializes in cardiology, focusing on arrhythmia diagnostics with medical-grade systems and services for professional healthcare.

• Solutions include hardware (Zenicor One, Zenicor Flex), software (Zenicor View), and service packages (Zenicor Direct) for EKG analysis and logistics.

• Over 300 hospitals and clinics in Northern Europe use the solutions, with main markets in Sweden, Finland, Norway, and the UK.

• Business model offers both pay-per-assessment and license-based revenue streams, adaptable to local reimbursement systems.

• Focus on early diagnosis to reduce healthcare costs and improve patient outcomes.

Clinical impact and scientific validation

• Products are certified for professional healthcare and supported by over 50 clinical studies.

• Studies show high diagnostic accuracy and significant reduction in stroke risk when using the solutions.

• Screening programs, such as Stroke Stop and SAFER, demonstrate increased detection of atrial fibrillation and potential healthcare savings.

• Ongoing large-scale studies in the UK (SAFER) and Australia aim to further validate the benefits of arrhythmia screening.

• Health economic analyses indicate substantial cost savings and improved patient quality of life.

Growth strategy and market expansion

• Targeting a fourfold increase in arrhythmia investigations per capita, aiming to grow from 5 to 20 per 1,000 inhabitants annually.

• Expansion driven by simplified care chains (e.g., Värmland model) and increased screening in risk populations.

• Recent contract wins include Region Dalarna, doctor.se, and NHS in the UK, with more regional tenders expected in Sweden and Finland.

• Focus remains on existing markets due to strong reimbursement systems and significant untapped potential.

• Private clinics and direct sales complement public sector contracts.