Medistim Expands Market Coverage in Canada by Going Direct

20 Mar 2023 13:49 CET

(Oslo, March 20, 2023) Medistim ASA (OSE: MEDI) is a niche market leader in
ultrasound technology with headquarters in Oslo, Norway. The company develops
and commercializes medical equipment for use in cardiac, vascular, and
transplant surgery. Today, Medistim announce that they will expand their market
coverage in Canada by establishing a direct sales operation. This move is part
of the company's ongoing commitment to provide exceptional service to customers
as well as fulfilling the company’s global growth strategy.

Medistim already has a strong position in Canada with presence in 15 of Canadas
38 cardiac centers. About 18 000 coronary bypass surgeries are performed in
Canada per year, and about 37% are supported with Medistim’s technology. The
company is well positioned to continue their growth with local sales
representatives who will focus on attracting new customers as well as driving
the conversion from devices with Transit Time Flow Measurement (TTFM) technology
only, to devices combining TTFM and High Frequency Ultrasound (HFUS). In
addition, the market within Vascular surgery provides further opportunities for
growth.

"We are excited to announce this strategic move that will strengthen our
relationship with our customers in Canada and grow our business there," says
Medistim President and CEO Kari E. Krogstad. "We have had great success in the
US with our direct sales force, and the Canadian team will have support from the
US Management in their daily operations. We are currently in a transition
period with our current distributor Medtronic, which will end on the 30th of
April."

The new subsidiary, Medistim Canada Inc., is a Canadian corporation fully owned
by Medistim ASA, and is located in Toronto, Ontario.

About Medistim:
Medistim was established in 1984 and has a track record of profitable growth
over the past 20 years. The company is a pioneer within its segment and
continues to invest in new product development. Medistim has wholly owned
subsidiaries with sales organizations in the USA, Germany, UK, Spain, Denmark,
and Norway, in addition to around 60 distributors in Europe, Asia, Middle East,
Africa, Canada, and South America.
For more information, visit the Medistim home page: www.medistim.com
For more information, contact:

President and CEO, Kari E. Krogstad, Medistim ASA
Tel: + 47 918 38 110
Email: kari.krogstad@medistim.com

CFO, Thomas Jakobsen, Medistim ASA
Tel: + 47 906 59 940
Email: thomas.jakobsen@medistim.com

More information:
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