Diagnosing heart disease with Advanced ECG

Important results from the project

The goals of the project were to complete a so-called "minimum viable product" with our first customer in New Zealand, integrate our product with a commercial ECG device on the market, and start building and filling our platform for regulatory documentation required to apply for regulatory approval of our product in the European and American markets. We have fulfilled all three of these goals, and are now well positioned for further expansion in the New Zealand market, and to work on completing a proposal for approval in the European market as the next step.

Expected long term effects

We now have our first product undergoing clinical testing at one unit at our first customer. These tests are expected to soon be able to move to an expansion to other units at the customer, and generate a more reliable flow of revenue, and expansion to more customers in New Zealand. This additional revenue will help secure the financing of an application for regulatory approval in the European market, and further expansion among new customers. The regulatory work is already underway, and work is ongoing to complete an application for regulatory approval in the EU.

Approach and implementation

The project has required more time and resources for technical development work than originally planned, but it has been possible to undertake that re-prioritization within the existing budget. This has proven to be a wise prioritization, which has enabled us to successfully install our product with our first customer, including all the technical adaptations and integrations required. This means that we are now about to expand to more units within our first customer, which will provide a revenue stream that will be important for our further expansion.