MEDISTIM ASA
Sector unknown·MEDI · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Medical devices
Technology
DriverPositive impact: strengthens
“Although the use of solutions for real-time blood flow measurement and ultrasound imaging during procedures is increasing, the vast majority are executed by surgeons merely relying on experience and physical finger palpation for graft patency assessment. Currently, only about 45 % of the global CABG market is utilizing support systems. Development of the overall market, by increasing acceptance and use of supporting technology such as Transit Time Flow Measurement (TTFM) and High-Frequency Ultrasound Imaging (HFUS) represents Medistim’s main growth opportunity.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“Guidelines recommend intraoperative ultrasound after Carotid Endarterectomy (CEA) in 2022: The European Society of Vascular Surgery (ESVS) revised their Clinical Practice Guidelines in 2022 on the management of atherosclerotic carotid and vertebral artery disease by among others, adding a recommendation of the use of intra-operative completion control with ultrasound imaging, to reduce risk of perioperative stroke for patients undergoing carotid endarterectomy. The Guidelines are set to identify luminal thrombus after flow restoration, diagnose intimal flaps and diagnose residual stenoses during surgery.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“A key to succeeding with winning in both Cardiac (CABG) and Vascular markets is continued innovation and product development. Customers expect to see improved performance from both the Flow and Imaging core technologies, as well as new features that will advance the clinical value and make the products even more user-friendly and attractive to build into their workflows.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The company invests between 4 % and 10 % of annual sales in research and development (R&D). In 2024, total R&D investments amounted to MNOK 35.0 (MNOK 29.0), corresponding to 7.4 % (6.5 %) of sales of own products.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“7.3 Strategy Medistim’s strategic progress relies on strong clinical documentation, technology and product innovation and development, and the ability to effectively commercialize its product portfolio worldwide. Strong clinical studies by leading medical centers create support from KOLs, and it is a strategic priority to support this by sharpening the focus on blood flow measurements, ultrasound imaging, surgical guidance, and quality assurance in relevant forums and channels.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Continuous technology and product development are required to maintain and develop Medistim’s leading position within cardiac as well as vascular surgery, and the company plans to launch new products tailored to the specialties within these fields. The company is continuously strengthening all parts of its organization. This includes the sales, service, marketing and medical teams which interact directly with customers, and the innovation, R&D, QA & Regulatory, and manufacturing departments.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Convert Flow-only market to a Flow-and- Imaging market by establishing surgical guidance and quality assessment as the new standard of care through: a. Early adopter and KOL support b. REQUEST study c. Ease conversion from Flow to Imaging with MiraQ 2.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Achieve routine use of both Flow and Imaging by fighting ignorance, indifference and ease-of-use objections through: a. Clinical marketing, guidelines and educational programs b. Product innovation for ease of use c. Increased sales force capacity 3.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Build and strengthen position in vascular surgery through: a. Dedicated system (MiraQ Vascular) & probes b. Building position with societies and KOLs 5.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“7.5 Research and development Medistim continuously invests in existing and new products to cover the surgical requirements for quality verification. The company invests between 4 % and 10 % of annual sales in research and development (R&D). In 2024, the company invested 7.4 % (6,5 % in 2023) of annual sales of own products in research and development (R&D).”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Product development for increased “ease of use” In order to grow technology adoption, it is pivotal to make the products as easy to learn and use as possible. Medistim is therefore focusing on innovation to develop new features and ensure “ease of use” for the end-customer. The company’s innovation team collaborates closely with a network of surgeons and hospitals to test prototypes and new ideas.”
Annual report 2024A · The company itself
Market
“Over the past four decades, Medistim’s mission has been to serve patients, surgeons and health care providers with innovative and cost-effective medical devices that measure blood flow and visualize atherosclerosis, and thereby help improve the quality and outcome of cardiac and vascular surgery.”
Annual report 2024A · The company itself
Market
“Medistim is a market leader within intraoperative transit time flow measurement (TTFM) and ultrasound imaging, providing the MiraQ™ system to the global market.”
Annual report 2024A · The company itself
Market
“The Medistim Group’s core business is within developing, producing, servicing, leasing and distributing medical devices.”
Annual report 2024A · The company itself
Market
“The products distributed are medical devices within all types of surgery.”
Annual report 2024A · The company itself
Market
“This has positioned Medistim to build a broader, Scandinavian distribution business for third party products.”
Annual report 2024A · The company itself
Market
“The company’s long-term vision is stated as: Medistim is standard-of-care in the operating room. This implies, making Medistim’s solutions the standard-of-care in clinical practice for Coronary Artery Bypass Graft (CABG) surgery procedures and vascular surgery, ensuring that blood flow measurements and intraoperative ultrasound imaging are performed on all patients.”
Annual report 2024A · The company itself
Market
“7.2 Medistim’s solutions Medistim’s devices are increasingly used to support CABG and other vascular surgical procedures. The solutions enable cardiac imaging, blood flow measurement and provides surgeons with immediate feed-back on procedure outcome. Intraoperative surgical guidance and quality assessment with ultrasonic imaging and blood flow measurement reduces risk of stroke for the patient. It also provides the surgeon with a tool to verify graft functionality, indicate when revisions are needed and to optimize graft strategy during surgery.”
Annual report 2024A · The company itself
Market
“The offering is two-fold; 1) medical systems for monitoring and analysis, and 2) consumables, including re-usable cardiac and vascular probes and ultrasound imaging probes. Sales of consumable correlates to the number of procedures executed and is highly dependent on size of in-stalled base of systems.”
Annual report 2024A · The company itself
Market
“The MiraQ™ is Medistim’s most advanced product line with configurations for both cardiac and vascular surgery. The MiraQ platform offers specialized configurations for cardiac and vascular applications in the products MiraQ Cardiac and MiraQ Vascular, respectively.”
Annual report 2024A · The company itself
Market
“7.7 Market for cardiac procedures Percutaneous Coronary Intervention (PCI), i.e. the use of stents, covers approximately 80 % of the revascularization procedures, with CABG covering the remaining 20 %. Clinical trials document superior results achieved with CABG compared to PCI for patients with multi-vessel disease. The number of coronary artery bypass surgeries performed has been stable over the past several years, of more than 700 000 globally per annum.”
Annual report 2024A · The company itself
Market
“Peripheral bypass surgery is primarily performed on the major arteries in the legs, whereas CEA is a procedure where blockages in the neck arteries are surgically removed to reduce risk of stroke. AV access surgery is performed to create a successful shunt or fistula that are used to connect a patient in need of dialysis to a dialysis machine. The MiraQ Vascular solution supports all three types of interventions with ultrasound imaging and blood flow measurements guiding the surgeon during the procedure to assure the quality of the clinical outcome.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens
Europe
Geography
StrategyPositive impact: strengthens
“Expand direct market coverage 7.4 Technology and products Medistim’s medical devices are used to improve quality of cardiovascular surgery and are subject to high requirements and product certifications with regards to quality and safety, and require high competence and excellent quality systems.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Based on the US model, pay-per-procedure or leasing agreements is introduced to UK customers.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Medistim sees great potential in upgrading of the installed base to the MiraQ platform, which provides the combination of ultrasound imaging and TTFM in one system.”
Annual report 2024A · The company itself
Geography
“More than 95 % of the revenue from the EMEA region is from Europe either through direct representation or through distributors. Medistim has developed a strong market position in Europe with about 1 150 systems installed, representing a solid base for future recurring revenues.”
Annual report 2024A · The company itself
Geography
“Currency neutral sales were up 8 %.”
Annual report 2024A · The company itself
Geography
“Flow and Imaging systems 29 37 -21.6 % Flow probes 5 084 4 737 7.3 % Medistim’s direct representation in Europe is in Norway, Denmark, UK, Spain, Germany and Sweden.”
Annual report 2024A · The company itself
Geography
“The US is the single largest market for Medistim’s products, representing close to 30 % of the world market, with a combined European market of a similar size.”
Annual report 2024A · The company itself
Geography
“EMEA and Europe in particular represents Medistim’s second largest market.”
Annual report 2024A · The company itself
Geography
“Germany is the largest market in Europe, with about 44 000 CABG procedures performed per year and Medistim has had direct representation there since 2002. Medistim has a high penetration within coronary surgery in Germany with a market share of more than 80 % but still have opportunities for growth by converting customers to become both flow and imaging customers.”
Annual report 2024A · The company itself
Geography
“In the UK, Medistim has had direct representation since 2012. Some 14 000 CABG procedures are performed in the UK every year, and Medistim’s equipment is currently used in about 20 % of these.”
Annual report 2024A · The company itself
Geography
“Medistim established direct representation in Spain in 2017. Around 7 000 coronary artery bypass surgery (CABG) procedures and 8 000 vascular procedures are performed per year.”
Annual report 2024A · The company itself
Healthcare and hospitals
End markets
DriverPositive impact: strengthens
“Several countries are going through reforms to make quality healthcare available to a growing population in a financially sustainable way. This includes demands for higher quality procedures with less errors and re-interventions. In the US, the Centers for Medicare and Medicaid Services have, for example, cut reimbursement for 30- days readmission after CABG as a penalty if hospitals have not been able to deliver and document high quality surgical results. Implementing technology that provides intraoperative surgical guidance and quality assessment is one way of achieving and document improved quality and outcomes.”
Annual report 2024A · The company itself
Market
“8.2 Business activity Medistim’s mission is to develop costeffective solutions to health-care providers, patients and payers in the global surgical market. Its Ultrasonic Surgical Guidance & Quality Assessment systems are built for intuitive imaging of vascular morphology and instant assessment of blood flow. With its tools, Medistim help surgeons improve surgical quality to reduce adverse events and re- interventions, and ultimately improve the patients’ quality of life.”
Annual report 2024A · The company itself
Market
“These systems enable medical professionals to reduce risk and enhance quality of cardiac, vascular and transplant surgery.”
Annual report 2024A · The company itself
Market
“On a global scale Medistim has a leading position within quality control of CABG. Medistim is also a distributor of other medical devices through its subsidiaries Medistim Norge AS, Medistim Denmark Aps and Medistim Sweden AB.”
Annual report 2024A · The company itself
Market
“Sales revenue from the cardiac segment ended in 2024 at MNOK 379.1 (MNOK 365.6), a 3.7 % growth. Sales revenue from the vascular segment ended at MNOK 93.7 (MNOK 81.3), a 15.3 % growth.”
Annual report 2024A · The company itself
Market
“For some time and in parallel with cardiac surgery, it is Medistim’s goal to develop a strong position for the transit time flow measurement (TTFM) and high-frequency ultrasound (HFUS) imaging devices within the Vascular market. The international PATENT study, that was announced in late 2024, proves the company’s commitment to the Vascular market.”
Annual report 2024A · The company itself
Market
“About 60 % of all bypass surgeries in the U.S. are performed by surgeons using their fingertips to check for a pulse as the only quality assurance. This is a clinically proven unreliable method, highlighting the need and potential for Medistim’s products and the Group has high market ambitions.”
Annual report 2024A · The company itself
Market
“In addition to traditional capital investments and purchase of consumables, hospitals can choose to either pay per procedure or enter leasing agreements. In 2024, procedural sales amounted to 77 % of the total sales, ending at MNOK 167.6 (MNOK 151.6).”
Annual report 2024A · The company itself
Market
“Hospitals and payers for surgery, such as insurance companies, are increasingly requiring documentation of performance and quality control during any procedure, which is expected to support the adoption of Medistim’s solution over time.”
Annual report 2024A · The company itself
Market
“The US CABG-market is underdeveloped, with less than 45 % of surgeries performed with support from medical systems ensuring proper blood flow. Medistim has a market share of approximately 35 % of a total market of approximately 200 000 annual bypass surgery procedures and sees a substantial market potential due to the still low penetration of CABG surgery support systems.”
Annual report 2024A · The company itself
Market
“Several vascular centers also have Medistim systems that are being used on a regular basis.”
Annual report 2024A · The company itself
Chains in: Ageing population strengthens, GLP-1 and obesity treatment mixed effect
United States
Geography
StrategyPositive impact: strengthens
“Expand direct market coverage 7.4 Technology and products Medistim’s medical devices are used to improve quality of cardiovascular surgery and are subject to high requirements and product certifications with regards to quality and safety, and require high competence and excellent quality systems.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“To strengthen its offering, Medistim has introduced a flexible business model for the US market. In addition to traditional capital investments and purchase of consumables, hospitals can choose to either pay per procedure or enter leasing agreements. Under these agreements the systems are placed at the hospitals free of charge, with the customer purchasing a “per’ surgery” smartcard or paying a monthly lease.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Medistim sells its own products either through a lease or as capital. Medistim has a flexible business model in the US and leaves it up to the customer whether they want to lease the equipment or purchase the capital equipment and buy probes as consumable.”
Annual report 2024A · The company itself
Market
“The US CABG-market is underdeveloped, with less than 45 % of surgeries performed with support from medical systems ensuring proper blood flow. Medistim has a market share of approximately 35 % of a total market of approximately 200 000 annual bypass surgery procedures and sees a substantial market potential due to the still low penetration of CABG surgery support systems.”
Annual report 2024A · The company itself
Geography
“5.2 Regional development MNOK 2024 2023 Change in % AMERICAS 237.2 209.0 13.5 % APAC 65.3 83.0 -21.3 % EMEA 170.3 154.9 9.9 % THIRD-PARTY 89.8 79.4 13.1 % TOTAL 562.6 526.4 6.9 % AMERICAS USA is the largest market within the region and is the largest market in the world for the Medistim’s products, representing 33 % of global CABG procedures.”
Annual report 2024A · The company itself
Geography
“Medistim’s current market penetration is 35 % of the total market of approximately 200 000 bypass surgery procedures performed annually. In comparable markets like Germany, Scandinavia, and Japan, Medistim has achieved TTFM market penetration exceeding 80 %. The Group expects that market penetration in USA will develop in the same manner over time.”
Annual report 2024A · The company itself
Geography
“Medistim has a strong position in Canada with presence in 22 of Canada’s 38 cardiac centers. About 18 000 coronary bypass surgeries are performed in Canada per year, and about 50 % are supported with Medistim’s technology.”
Annual report 2024A · The company itself
Geography
“Representing close to 30 % of the global CABG market, USA is the most important market for Medistim, accounting for 48 % of total revenue from own products in 2024.”
Annual report 2024A · The company itself
Geography
“The US is the single largest market for Medistim’s products, representing close to 30 % of the world market, with a combined European market of a similar size.”
Annual report 2024A · The company itself
Chains in: USD vs DKK/EUR mixed effect
Asia and emerging markets
Geography
StrategyPositive impact: strengthens
“Offer an entry-level solution to reach emerging, price-sensitive, high-growth markets 4.”
Annual report 2024A · The company itself
Geography
“A decrease in the number of procedures performed in Western countries in recent years has been compensated by an increase in the BRICS countries (Brazil, Russia, India, China and South Africa).”
Annual report 2024A · The company itself
Geography
“With over 90 % of all CABG procedures using Medistim technology for blood flow measurement systems and ultrasound imaging, Japan is one of the most developed markets for Medistim’s solutions. The Japanese market counts some 17 000 procedures annually.”
Annual report 2024A · The company itself
Geography
“Medistim’s market share is below 5 %. This is an interesting target market for Medistim and with the new distributor partnership with LivaNova, it is expected that the Indian market will become a future driver for growth.”
Annual report 2024A · The company itself
Artificial intelligence
Technology
StrategyPositive impact: strengthens
“After years of gradual increase in R&D and product innovation investments, we launched the new MiraQ INTUI software platform for cardiac surgery in December. The product was prominently featured at the International Coronary Conference exhibition, presented at a dedicated launch symposium, and highlighted at a Capital Markets Day.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Medistim has expanded the Innovation and Product Development teams with additional headcount, as an important investment for the future. Not only does this increase the capacity to drive innovation initiatives, but it also brings in new competencies, experience, and ideas.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“The company invests between 4 % and 10 % of annual sales in research and development (R&D). In 2024, total R&D investments amounted to MNOK 35.0 (MNOK 29.0), corresponding to 7.4 % (6.5 %) of sales of own products.”
Annual report 2024A · The company itself
Chains out: this strengthens Data centres, strengthens Semiconductors and electronic components, strengthens Semiconductor industry
Digitalisation
Technology
StrategyPositive impact: strengthens
“After years of gradual increase in R&D and product innovation investments, we launched the new MiraQ INTUI software platform for cardiac surgery in December. The product was prominently featured at the International Coronary Conference exhibition, presented at a dedicated launch symposium, and highlighted at a Capital Markets Day.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Medistim has expanded the Innovation and Product Development teams with additional headcount, as an important investment for the future. Not only does this increase the capacity to drive innovation initiatives, but it also brings in new competencies, experience, and ideas.”
Annual report 2024A · The company itself
Market
“A product of these efforts was the launch of the new INTUI software for cardiac surgery in December 2024. INTUI sets a new standard for Medistim’s MiraQ™ technology.”
Annual report 2024A · The company itself
Chains in: Cybersecurity (products and services) strengthens, Public investment and infrastructure strengthens
Chains out: this strengthens IT consulting and public-sector IT
Automation and robotics
Technology
StrategyPositive impact: strengthens
“A separate project is established to redesign the PS probes in order to be able to automate the production process of flow probes. The project is expected to go on for several years and will improve the probe production capacity vastly.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Long term, the goal is to add automation in the production process. A separate project is established to redesign the PS probes through machine learning and automation.”
Annual report 2024A · The company itself
Carbon tax and ETS prices
Regulation
DriverNegative impact: weakens
“Medistim has implemented an environmental policy to increase environmental focus, ensure sustainable operations and reduce its environmental footprint. The company’s direct environmental impact relates primarily to the production facilities in Horten, the distribution of products as well as some traveling in connection with sales and training activities.”
Annual report 2024A · The company itself
StrategyPositive impact: strengthens
“Switching from traditional fuel to a mix consisting green fuel was implemented early in 2024.”
Annual report 2024A · The company itself
Chains out: this weakens Shipping and logistics, strengthens Energy efficiency, weakens Cement and building materials
Diabetes care
Technology
DriverPositive impact: strengthens
“Addressing serious, common and increasing global medical problems Cardiovascular diseases (CVDs) are the number one cause of death, representing approximately 1/3 of all deaths worldwide. CVD is a general term for conditions affecting the heart or blood vessels. It is usually associated with a build-up of fatty deposits inside the arteries (atherosclerosis) and an increased risk of blood clots. It can also be associated with damage to arteries in organs such as the brain, heart, kidneys and eyes.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“The main risk factors for CVD are high blood pressure, dietary risks leading to obesity, diabetes, smoking, in addition to higher age. Both obesity and diabetes are increasing world-wide, reflecting economic growth and a growing middle class in developing economies. In parallel, the number of people above 60 years of age is also growing globally.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“7.6 Clinical application areas and target markets Lifestyle diseases such as obesity and diabetes have increased significantly in recent decades, increasing the need for revascularization procedures.”
Annual report 2024A · The company itself
Ageing population
Geography
DriverPositive impact: strengthens
“Addressing serious, common and increasing global medical problems Cardiovascular diseases (CVDs) are the number one cause of death, representing approximately 1/3 of all deaths worldwide. CVD is a general term for conditions affecting the heart or blood vessels. It is usually associated with a build-up of fatty deposits inside the arteries (atherosclerosis) and an increased risk of blood clots. It can also be associated with damage to arteries in organs such as the brain, heart, kidneys and eyes.”
Annual report 2024A · The company itself
DriverPositive impact: strengthens
“The main risk factors for CVD are high blood pressure, dietary risks leading to obesity, diabetes, smoking, in addition to higher age. Both obesity and diabetes are increasing world-wide, reflecting economic growth and a growing middle class in developing economies. In parallel, the number of people above 60 years of age is also growing globally.”
Annual report 2024A · The company itself
Chains out: this strengthens Healthcare and hospitals, strengthens Medical devices, strengthens Hearing aids and hearing care
Business cycle and GDP growth
Macro
DriverPositive impact: strengthens
“Cardiovascular diseases are the most common cause of death in the western world and on the rise in Asian and Latin American countries adopting western lifestyles.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“In addition to the macroeconomy, burnout among nurses post- Covid may be adding to the hospitals’ expenses as well as challenging their ability to uphold surgical procedure volumes.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“The global economic situation will affect the company since Medistim is a supplier to the health care sector in many countries.”
Annual report 2024A · The company itself
Chains out: this strengthens Global trade volumes, strengthens Construction
Inflation
Macro
DriverNegative impact: weakens
“We attribute these repercussions to the prevailing macroeconomic landscape characterized by high inflation and escalating interest rates, corresponding also to what we experienced during the financial crisis around 2009 and during Covid in 2020.”
Annual report 2024A · The company itself
InputNegative impact: weakens
“Cost of material amounted to MNOK 113.7 (MNOK 112.3), representing 20.2 % of sales (21.3 %).”
Annual report 2024A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Labour and wages
Raw materials and inputs
DriverNegative impact: weakens
“The ability to attract and retain a skilled workforce is imperative for Medistim to succeed over time. At year-end, Medistim employed 154 people (152).”
Annual report 2024A · The company itself
InputNegative impact: weakens
“The main reason for higher salary and social expenses is related to the full-year effect of new employees. The organization has been strengthened primarily within Innovation and Product development (R&D), but also within business development, sales, service, and administration.”
Annual report 2024A · The company itself
Contract manufacturers as a business (EMS, CMO, CRO)
End markets
InputNegative impact: weakens
“Medistim assembles and manufactures its devices and probes in Horten, Norway, except for the imaging probes which are produced by third parties.”
Annual report 2024A · The company itself
Chains in: Biotech and drug development strengthens
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“How the geopolitical uncertainty will affect the company are unclear but might lead to challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to key components to secure production and maintain growth and profitability also for the future.”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Global trade volumes
Macro
DriverNegative impact: weakens
“How the geopolitical uncertainty will affect the company are unclear but might lead to challenges in the global flow of goods. Medistim is taking mitigating actions to ensure access to key components to secure production and maintain growth and profitability also for the future.”
Annual report 2024A · The company itself
Chains in: Tariffs and trade policy weakens, Geopolitical uncertainty weakens, Business cycle and GDP growth strengthens
Chains out: this strengthens Shipping and logistics
GLP-1 and obesity treatment
Technology
DriverPositive impact: strengthens
“7.6 Clinical application areas and target markets Lifestyle diseases such as obesity and diabetes have increased significantly in recent decades, increasing the need for revascularization procedures.”
Annual report 2024A · The company itself
Chains in: US drug pricing policy weakens
Chains out: this mixed effect Healthcare and hospitals
Growing middle class
Geography
DriverPositive impact: strengthens
“The main risk factors for CVD are high blood pressure, dietary risks leading to obesity, diabetes, smoking, in addition to higher age. Both obesity and diabetes are increasing world-wide, reflecting economic growth and a growing middle class in developing economies. In parallel, the number of people above 60 years of age is also growing globally.”
Annual report 2024A · The company itself
Interest rates
Macro
DriverNegative impact: weakens
“We attribute these repercussions to the prevailing macroeconomic landscape characterized by high inflation and escalating interest rates, corresponding also to what we experienced during the financial crisis around 2009 and during Covid in 2020.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
IT operations and cloud
Raw materials and inputs
InputNegative impact: weakens
“To ensure a modern, secure and wellfunctioning IT platform, the company has outsourced its IT management to a professional service provider.”
Annual report 2024A · The company itself
Tariffs and trade policy
Macro
DriverNegative impact: weakens
“The largest uncertainty related to future development in the US is potential tariff barriers and how this will affect foreign medical device companies.”
Annual report 2024A · The company itself
Chains in: Geopolitical uncertainty strengthens
Chains out: this weakens Global trade volumes
China
Geography
Geography
“In China, the number of CABG procedures increases with 5 to 10 % per year and is a strategic market for Medistim. Medistim covers about 70 % of the 79 000 procedures performed in China.”
Annual report 2024A · The company itself
Geography
“Medistim’s equipment is today installed in all the nation’s top 10 cardiac surgical centers.”
Annual report 2024A · The company itself
Geography
“In addition, a large market within Vascular and Transplant surgery provides opportunities for further growth.”
Annual report 2024A · The company itself
Employment
Macro
DriverNegative impact: weakens
“In addition to the macroeconomy, burnout among nurses post- Covid may be adding to the hospitals’ expenses as well as challenging their ability to uphold surgical procedure volumes.”
Annual report 2024A · The company itself
Nordics
Geography
Geography
“7.8 Market for Vascular surgeries Applications # of Procedures Clinical needs Peripheral Bypass > 500 000 Improve long-term graft patency | Improve quality of life CEA > 250 000 Reduce risk of death and stroke | Improve cost effectiveness AV Access > 500 000 Secure maturation of shunt/fistula | Reduce risk of cardiac failure and hand ischemia Liver Transplant Surgery > 35 000 Increase success rate for this costly procedure Medistim has a strong position in the vascular market in the Nordic countries and in Germany and is working to build similar positions in other markets as well.”
Annual report 2024A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.56 bn NOK |
| Revenue growth vs. the year before, same method | 6.7 % |
| EBITDA reported by the company | 0.16 bn NOK |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 5.67 NOK |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (NOK), not converted to DKK. Quotes are shown as the company's own words in the report's original language.