Following the successful SEK140m IPO in December 2016, Acarix (ST:ACARIX) is commercialising its novel CE-marked CADScor System in Germany. CADScor is used as a frontline test by doctors to help assess a patient’s risk of coronary artery disease (CAD) by “listening” to the blood flow in the coronary arteries. This can enable CAD to be ruled out, so avoiding expensive further testing. Full EU reimbursement may start in 2019. US marketing will probably require a US clinical study, with sales from 2021 possible. The unchanged indicative value remains at SEK728m, equal to SEK31.62/share.
Noisy business – ruling out atherosclerosis
The Acarix test uses a highly sensitive microphone linked to a minimalist self-contained processing module to record the patient’s heart sounds. Sophisticated algorithms then identify the patients who probably require no further clinical testing. CADScor will sell for over €3,000. A disposable, single-use patch has a price of at least €30 per unit. Researchers claim that 35% of US primary care tests are not needed and harmful. US healthcare providers could save over $500m a year if low-risk patients could be quickly and accurately tested, reassured and sent home.
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