Polmedi Group has been established. It is betting on international expansion.
WARMIE and Polmedi are joining forces. They are moving abroad with a joint offer. They also plan to raise up to €2 million from the market for development.
WARMIE and Polmedi have merged. As a result, the Polmedi Group will be formed to provide modern medical solutions. WARMIE already has several years of experience in this field. It is a manufacturer of a sensor for monitoring temperature changes. Polmedi has the iWound telemedicine system, which makes it possible to reduce the time of wound treatment therapy.
The new company also plans to raise financing from the market at a level of up to €2 million, which it intends to use for growth and international expansion. It is mainly targeting countries such as the Czech Republic, Slovakia, Lithuania, Latvia, Estonia and the United Kingdom. The long-term goal is also to introduce the iWound application as a standard to be implemented in every hospital in Poland.
"The merger of the two companies opens up a much wider range of opportunities to enter and serve the broader market. Our goal is to provide comprehensive medical solutions that complement each other, both in terms of hardware and software. The customer profile and target group of our solutions are very similar, which will definitely enable us to expand our existing business," comments WARMIE's Piotr Piątek, who will be on the board of the new entity.
"The decision to merge was made because of the desire to achieve the synergies that will occur by combining the complementary competencies of both companies in the medical market. This plan was outlined much earlier. The potential interaction of the entities was hinted at as early as 2021 by Prof. Tomasz Banasiewicz, who is a patron and active co-founder of both companies. So the day is approaching when the plan will become a reality. This is due to the iWound system reaching business and process maturity." - reports Marcin Cieslak of Polmedi (iWound), who will also be on the board of the new company.
In the domestic market, WARMIE is already a recognizable brand, having won numerous awards, such as the "Eagle of Innovation" competition of the Rzeczpospolita daily or the "Polish Innovation Award 2022." It also has experience in the production and certification of medical equipment. Among them is the WARMIE temperature sensor (which is a Class 2B medical device) with dedicated software, intended for home use and used in telemedicine. The device has a medical certificate allowing it to be marketed in the European Union and the United Kingdom. The company is currently working on the certification of the WARMIE Sterile device, which allows the sensor to be positioned in the wound environment, making it possible to quickly detect infections through a local rapid rise in temperature. In addition to its work on the sensor, the Company is also conducting research into the development of a new-generation device for negative-pressure wound treatment.
Polmedi's main product, on the other hand, is the iWound telemedicine system, available as a mobile and web application. It is used to treat chronic wounds, post-surgical wounds and diabetic foot syndrome. It makes it possible to shorten the time of wound treatment therapy and avoid infections and other complications. It streamlines the work of consultants (including doctors, nurses and pharmacists). It makes it possible to manage up to twice as many patients in the same amount of time with significantly better medical results compared to traditional therapy. The system has received two national awards.
"After the merger, the companies' software is integrated into a single system for the benefit of existing and future users. In this regard, Polmedi is taking advantage of WARMIE's experience in the certification of medical products. A common base of contacts in the medical industry is also being created, which will be used in the near future to expand the group of customers for all products and services." - Marcin Cieslak adds.
In a way, the merger of the companies is the result of talks with international investors who have expressed interest in investing in a comprehensive solution including medical equipment (hardware WARMIE) and a telemedicine system (software iWound). Talks are underway with entities interested in a joint project. Meanwhile, the new company is not closing itself off to other investors.
"In addition, the company is undertaking research and development work to enter the very lucrative market of negative pressure wound treatment in the form of offering its own innovative device for conducting this type of therapy. Each of the mentioned products is at a different stage of development, which gives potential investors a stable and consistent development plan for the company for the coming years." - Piotr Piątek adds.
The merger of Polmedi with WARMIE also allows the company to participate in tenders and requests for proposals, which were previously unavailable to individual entities. The expansion of product offerings creates opportunities to reach wider groups of patients. The new system also opens up channels of communication that were previously unused. The results of the field tests indicate that pharmacy outlets are an excellent place to get information about the iWound application, and Polmedi has a tailored offer for these outlets.
New products and services have been translated into several languages for foreign markets. The strategy is to establish a presence in the Czech Republic, Slovakia, Lithuania, Latvia, Estonia and the United Kingdom. The choice of these expansion directions stems from the earlier introduction of the WARMIE temperature sensor precisely in the aforementioned countries. Deployments are scheduled for the first quarter of 2024, due to differences in formal healthcare structures in these countries and legislative processes. Initial activities will include the introduction of the iWound system.
"Work is currently underway to certify the WARMIE device in the sterile version. The company expects the product to go on sale in the second quarter of 2024. In addition, research is underway for the development of a next-generation device for negative pressure wound treatment. In 2021, we received a grant from the Operational Program for Intelligent Development and the work has started," - Piotr Piątek informs.
Short-term plans include the launch of a new and improved version of the application, which has been tested over the past several months. An additional intention is to expand the range of therapies supported within the app itself, focusing on therapy for diabetic foot and obstetric wounds. The company's long-term goal is to make the iWound app an integral part of the wound treatment process in Poland and to establish it as a standard to be implemented in every hospital in the country.
Source: isbzdrowie.pl