Srikanth Jadcherla, iMedrix - Pocket Sized 12-Lead EKG | LSI USA '24

Srikanth Jadcherla  0:03  
Hi, I'm Srikanth Jadcherla, the founder and CT of iMedrix. I want to draw your attention to our friend, the photographer there, if you remember, like going to Costco or Walgreens or something, taking out roles and all that, and then rushing back for a print or, you know, putting it in the thing you belong to my generation or my daughter says in your century, right? But that actually has a very good analogy. I know Gen Z laughing there. They don't know what I'm talking about. There are no artifacts, especially so for those of us who go back to that century, that's what I'm going to give you, an analogy to what imetrix does. I matrix actually stands for intelligent medical matrix. Don't ask me how we came up with that. It was a lot of wine went in before that day. So, so what's the thing? Going back to that photo, roles, thing, 100 million electrocardiograms are done in the US. Almost all of them are actually done on paper. In this day and age, the thing comes out. It's actually scanned by your nurse or some other person staff in the office and uploaded into some analytics software. That is the state of the art today. Today, there are actually a growing shift to do EKGs at home, and they actually still carry these portable machines. They don't wheel out the cart anymore into your house, but they still take these little portable machines, maybe about twice the size, prints out paper. The nurse, takes a tablet, adjusts the thing a little bit, rolls out that little piece of paper. That's what still happens today. So we at imetrix actually started nine years ago, started disrupting that market. And until now, until like January this year, we were actually deploying mostly outside the US right, partly because we didn't have the money. And then, you know, we got our FDA clearance, and then covid lockdowns happened, so we just held off on the US market. So this year, we actually started, and again, like you heard many times in the conference macroeconomic wins count the hospital at home and home health care and chronic care management at home. That's a shift that's inevitable, and that's what we are actually riding now. And what I'm about to show you is basically the equivalent of what you see in a hospital, like a GE view 360 or a Phillips TC 31, of those big, gigantic machines weighing a ton printing paper and stuff like that. This is head to head with that full 12 lead, six lead diagnostic grade. And I'll tell you, when you pull that machine out of hospital, versus this, this actually performs better. You can actually do diagnostic grade EKGs on a moving motorcycle. Anybody who wants to see the video, I'll show you. There's an ACC paper on that too from last year, and just a waste 160 grams. So that's what we are. We are basically riding the hospital. And in fact, I like to say in healthcare, all roads lead to home now. So we're basically doing mobile cardiology, and at a fraction of the cost, not just the device cost, but also in the total cost of ownership and total cost of management and the workflow. And you can see we've changed the paradigm. And I'll give you this again. I'm a mobile guru. I'll spare you the background. If you do mobile without mobility and don't change the use model, that's useless, you should actually dump that right there. You can see the gentleman getting an EKG at home, full chest leads and everything, but he's sitting and he's not fully disrobed. He's not supine. Nothing, we've changed the model. Actually, almost every day we do an ECG on a wheelchair. We don't need to come out of the wheelchair. Nothing, we actually, basically, we hang our hat on how simple. And my 13 year old daughter once actually did a ECG on somebody who was having chest pains. There was a mild heart attack. And if you know how to use WhatsApp, you should be able to do an ECG with our device. We actually sometimes ship it to Kenya or Tanzania, and we train them over WhatsApp, not zoom, not teams, we actually train them over it's as simple as that. So we actually simplified this process quite a bit, and we've been through 650 1000 patients in about 18 countries and growing now. So it's something that's field worthy, tested out, beaten up quite a bit by and small companies. So we go to market through Medtronic, Philips and Siemens in different parts of the world. And Philips Foundation is a minor investor in the company. I should tell you that we've also been through their supplier quality audits and QMS reviews and FDI inspection. We are pen tested, and we have a lot of features, including one thing, for a lot of medtech folks, when 5g antennas come if you're using anything wireless, it's going to disrupt that. If you're doing anything electromagnetic, it's going to disrupt that. We actually have fantastic videos of how to cancel 5g noise. The other thing is, you have something on a battery you got to do the reality is, we do 1000 ECGs once you fully charge it. But we tell the FDA, it's only 300 that just to be safe, okay, and there's no gel, nothing. We've completely removed the whole complexity of taking out anything. It's all real time to stack cloud and Quebec goes to a cardiologist. They have to review it. So in a Medtronic about 120 1000 patients in Hub and Spoke program eight. Seconds on average, in low bandwidth conditions to get an AI report, and eight minutes turnaround for a normal ECG, a minute or two for a high, high risk ECG, that's the turnaround time. That's why, you know, all the industry leaders trust us, including who programs in a lot of countries, because we distinguish between the portable and the mobile. Okay, that is one thing, and then we think we are the most well deployed solution now, bringing all that knowledge and SOPs and everything into the US market now, and we actually integrate into a lot of other mobile apps. A lot of people forget that mobile is all about integration and APIs and security, not just throw some intent code. It's about secure integrations and stuff like that. And with time and again, we proved that we have the lowest TCO and TCM metrics if you're not paying attention to that in your deployment. Again, that's something to pay great attention to in a hospital. And there are a couple of other if you when you google this, you find a lot of things. What happens is there actually, if an EKG unit doesn't handle acute events, or the can't handle a defib event, or like have pacemaker detection. It's actually not a full fledged diagnosis. You can see in any number of toys on the internet. You don't need me for that, right? But when the distinction comes down to actually diagnosing somebody, using the adkg to treat somebody, you want to put an injection into them and clockworks or something, that's where we come in. Accuracy matters. And last but not least, this is actually something you have to see with Philips and now included in the US with GE and butterfly, the person going home, or basically what the home health person takes a bag like this. They take both an EKG unit and an echo unit from Philips lumify or gevscan, or a butterfly or a wave health. So we are actually the only people who can do a real time transmission of ECG and echo together into the cloud. So we actually worked on that with Philips first, and then now help some of our customers do that, because in cardiology or beyond the vitals, the gateway signal is an electrocardiogram. Then comes the Echo, and then they'll do assays or something. And I'll tell you that in another six months or so, we'll probably integrate with one of the mobile troponiases. One of our customers already done that, so we'll probably do that now. This is the key slide. We're already in early commercials because we've been in deployment in the US we came in. I'll start on the my left there. The average sales price in the US is about 3000 probably going to go up to four this year and starting to add on software services. The cogs in low volume is basically about 327, we'll probably push that down to 250, by the end of the year. By the way, I'll send a copy of the slides to this part of the slide, so anybody there's a QR code coming up, just email me. So the gross profit is pretty interesting, and probably going to rise the margin, gross profit, about 89% margin. They're probably going to rise as we go in volume. We're raising five to 10 million series A just for the US market. Was a really recapitalize the US entity, and primarily to do biz dev, just going right now we are the only game in town. We want to leverage that and go, I'm sorry, a bit out of town. So I'll stop with this slide leading up to an exit. We want to get to 100 million in sales by 2028, and probably look for an exit at that time. That's my contact or easy number 866, I metrics. You can scan the QR codes and be questions. Or if you have a slide copy of the slides, I'll do that. So thank you very much. I know you all hung out still the ad. So more power to the sessions. Thank you. Bye.