Earnings call transcript Q4 2022

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Operator

Greetings. And welcome to the HeartBeam Fourth Quarter and Full-Year 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

As a reminder, this conference is being recorded.

information formal made would webcast on predictions, or the everyone to may begin considered estimates, statements be that the other we presentation, like I remind include forward-looking. Before might that call and

While materially. what future these risks uncertainties holds, on actual cause to the that subject forward-looking could our are results judgment represent and statements current they to differ

presentation. reflect the place cautioned reliance on this which not date statements, of as to undue our are only You forward-looking opinions of these

Please we the to of forward-looking keep that revise or new any these ourselves in not obligating events. of mind are to or light publicly results statements future information release in revision

discussion, to today's important will that some predictions. present factors our Throughout relating attempt may we to business affect our

review XX-Q most and under of our complete discussion the XX-K Form for factors Factors. more also and risks, Form these recent heading You other particularly a should Risk

at Time Investor press detailing this these results crossed heartbeam.com. of in the wires the available Eastern X:XX afternoon Relations company's website, is A p.m. our section release and

December Vajdic, today the Chief Brounstein, XXXX. Rob Founder; President; Eno, present host Officer year and Chief Rick Your Officer, and ended quarter of operations and will fourth results for Financial Executive XX, Branislav

call the Officer, to At I will this time, turn HeartBeam Executive Vajdic. Chief over Branislav

may You being.

Branislav Vajdic

I'm operator. today's everyone. you, full-year Thank And you results good conference call. pleased to XXXX welcome to afternoon, fourth financial quarter and

more product be the the to future about not path. enthusiastic our timeline our and our could team's pace I for commercialization of trace HeartBeam, rapid ability

to moment introduce detection opportunity short explores case. of attack who AIMIGo The I'd time, video the the our to in heart or might a in unique you have opportunity the to like had those introduction. the joining market opportunity and first and technology, a video For use not meet, HeartBeam HeartBeam for us take

HeartBeam heart credit detection. ECG the most and first for attack card AIMIGo only XX-Lead device size is

I'd be silence. three While we participants, minutes unfortunately, video, will in But for available like you on video that are dial this to website, it about is the heartbeam.com. playing remind of our our

Presentation] [Video

our that standard powerful ECG. is how cases, there understand consumers marketplace have ECG they medical but arrythmias, of do not technologies to not technologies of more capable today. it's heart ECG of offer a of important user-friendly, care that and In in vastly XX-Lead of not a ECG outside attack. easy-to-apply they common be single different What patients many a a ECG to capable means That technology This offered always-in-a-patient, are It's certainly all some is that is facility. and are in Today, for solution. heart are the great in detecting lead a the than a adequate may detecting majority it they attack.

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that. and of Perhaps, attacks. most XD are use, the any power AIMIGo easy development, remotely of of always-in-patient detect vector-based and is technology, No powerful VECG patients AIMIGo signals ECG time. processing this technology from HeartBeam friendly, technology XX-Lead their algorithms standard to phase physicians to recording and is to using to Our will of HeartBeam bring user importantly, care technology initial our capable in heart for able front that at of other offer anywhere

with. This market familiar that are slide in you very several cardiac monitoring shows the companies

each the ECG XX-Lead symptomatic the patient's product, the and and offering underserved history baseline ECG representational AIMIGo to capabilities offers heart a While the very of physician, significantly some and symptoms, capability, integration of detection, telehealth HeartBeam market. the is HeartBeam different device is in it product of attack and

we HeartBeam by the and technologies, existing AIMI in and HeartBeam vector leveraging our offers partners clearance continue our commercial AIMIGo, and customers with engage anticipation launch believe to beyond products. We potential offerings, patented and substantial capabilities of FDA XD ECG for

toward of partnerships, was commercialization and a protection, IP products, including forward underscored of management strengthened milestones, our production Our by new movement quarter by fourth team. highlighted and a series

our weeks. for forward product, AIMIGo coming XD as in As device FDA we collection for look prepare submission also we the we're HeartBeam making clearance the FDA significant with VECG AIMI, core to progress HeartBeam

during cleared world's system LIVMOR, The monitoring of detection we digital intellectual biomarkers. provides cardiac all LIVMOR's detection assets continuous Recently, system three AP system. demand physiological This LIVMOR consisted Halo+ solution clinical fibrillation, monitoring. overnight. pulse and engaging the system US AFib, for system a rhythms of monitoring the a acquisition of from property, AFib of including continuous Halo+ on the the detection FDA The for the the is substantially of company technology patient including announced patents, remote and automatically prescription wearable first day Halo+ health providing atrial

with acquisition cleared complementary our a dramatically fit, system goals extends in with partnership of full significantly monitoring outcomes is This LIVMOR and to an reach cutting-edge natural improve an and ownership product. our to acquisition healthcare reduce existing, extension costs. The remote detection patient and our successful of FDA

integrated tool, HeartBeam capabilities setting. platform, to patients beyond for cleared, once available Our cardiac medical a arrythmia outside newly well product telehealth acquired, currently opportunity with state-of-the-art, our a of what unique extend is FDA detection AIMIGo watch-based presents

and in Evolve's We expected following HeartBeam manufacturing delivering commercialization rarely support quality customer in AIMIGo found expertise with Technologies, now quarter, has strong packaging expertise device we manufacturers. medical XD a consistent AIMIGo medical of sized a Evolve leverage manufacturing manufacturing partnered credit the can HeartBeam the to Evolved device recording industry device care contract build Manufacturing contract device. During and to company, for reputation card product FDA clearance. and the deep medical VECG

further ECG initial property strengthens our AIMIGo recent IP as European We for new to offering XX-Lead protection advanced applications two product intellectual reach HeartBeam global expand variety we technology capability with a markets. of patents. and the An regions patent

for US for VECG heart The monitor smartwatch our ECG a this proprietary patent built detection protected intended the granted a core as dedicated patent most pending patent We one complex need enabling and our attack valuable received be XX-Lead our attacks the technology we and smartwatch, ECG patents to complex continue prove to this arrythmias. be may patents on heart XX-Lead while attack XD device, heart for and enable based a of into a also expand We of ECG to believe breakthrough inventions by detection. arrythmia most detection. capability for eliminating offering

products. efforts, the breakthrough Rob Eno strategies a newly and go-to-market We who moment, senior recently over He's position making a role of day our will welcomed is decisions, and experience you passionate created commercialization multiple for executive meet key operations. Rob, with in to years' to president. strategic a in visionary day XX playing

He recent advance clinical best Peter and paths appointment, a for adoption, products is Fitzgerald, strategies, in our market. partnerships Dr. joins role the playing in major Officer, our Peter as to Medical other Chief defining now

Rob? President, our to to call like over product commercialization our Eno, discuss to the would plans. and I Rob turn further

Robert Eno

Thank everyone impressed their privileged at us Since phase commercialization. I've prepares mission. the enter joining a incredibly exciting joining such to an in and you, accomplishments new been working Branislav. to of with in as to our the team, join HeartBeam company HeartBeam today, diligence January, time toward And I'm

developments product platforms. to AIMIGo AIMI HeartBeam our had related we our Turning and several key to and timelines HeartBeam updates,

AIMI previously the As to Branislav announced mentioned, our the platform XXX(k) FDA. HeartBeam of submission we

We responses receive addressing followed written statutory questions XX the the teleconference in discussed limited review and reviewer. within in a by the expect second questions team and to quarter, FDA via the early questions deadline, to provided day review the market in primary progress, from with FDA QX. clearance review received we the release is substantive FDA The

market US market software HeartBeam the the And $XX numbers Briefly, billion. million. for AIMIGo, the is available for $XXX is solution only. total These estimated are it for AIMI

plan and study. a to a substantial XXX(k) pathway. regulatory AIMIGo identified has already equivalence We've devices predicate with validation demonstrate HeartBeam

XX-Lead collect device VX of the XD studies and these vector cardiogram for to clearance VX data Importantly, conducting for product. use equivalent the the HeartBeam allows data

Turning AIMIGo for footprint updates. today. form the the to in provides a a technology, property the card were HeartBeam product September, sized In device granted protection capability products patent our in we intellectual XX-Lead additional as with currently market of offering that lead ECG HeartBeam AIMIGo credit the same single

contract XX-Lead with Technologies, remote VECG attack sized recording detection. card We ECG Manufacturing credit that for company, enables device AIMIGo a readout partnered build HeartBeam a medical the Evolve device manufacturing XD also heart to

device version followed VECG of for HeartBeam file a second synthesis by to the XD submission that submission plan collection signals. AIMIGo as software We an enables initial ECG our from VX for XX-Lead an XXX(k) the

the for VX We file expect submission the to targeted submission QX. is shortly VX and

a phased payment which market in of Our HeartBeam pay go-to-market system. We'll segments on reimbursement AIMIGo for initially is direct focus strategy is outside approach. the

those Within demonstrate we as ECGs. will will equivalent the AIMIGo direct focus XX-Lead to on segments, we initially HeartBeam pay where

cost segments focus expansion effecting direct into ultimately evidence, clinical then new of and will We on will basis and pay which the developing unique be this reimbursement.

AIMIGo in pipeline LIVMOR. that deep ECG monitor products in fully or system a well as integrates heart XX-Lead HeartBeam a monitoring from technology extended as system. with pipeline, the have a Other we the patch, acquired include AIMIGo wear product We HeartBeam smartwatch starting the

predictive that data and attack machine cardiac for a our product disorders. smartwatch heart In XX-Lead includes addition, the to and pipeline complex from other applying algorithms arrythmia detection, result VECG ECG monitoring learning

turn the and now I'll updates financials. discuss Brounstein, Officer, Rick call Chief to operational to Financial over

Richard Brounstein

Thank you, Rob.

and give our just the financials. release now preview will a filings today. full in crossed of close our available press results. is that A breakdown the in wires regulatory our us to sneak financial market I Turning after of

last They move stood our account. checking a let receiver. Protection we Valley result, XX and start which the Department the closed On March payroll this Financial issues Innovation, bank to a bear account the by appointed me as before Silicon not XX, would and But account And March On of completing with to Reserve were $XXX,XXX. move. of with a approximately week, California SVB the had was Federal Bank. SVB, FDIC currently loss as we that are holders Nevertheless, that the four the we big lose planned and announced event.

Turning to to expenses of of General were and the administrative XXXX. for $X.X fourth statement fourth the compared quarter the million for million operations. of $X.X quarter now XXXX

XX, $X.X of million expense G&A of For XXXX. increased reflects support same the team the December public other XXXX, ended growth to a period our to in in compared in $X our the being company. year million and costs This

development for $XX,XXX $X.X quarter the to fourth XXXX in million fourth quarter and Research were of expenses compared XXXX. of the

ended $X.X of XXXX increased the IPO. XX, year. was expenses pre to from year Most and $XXX,XXX XXXX, prior December the development research in For million

now for AIMIGo. costs is services focus includes with also largely development XXXX the both Triple Technologies. product R&D Our and latter HeartBeam hardware, AIMI, AIMIGo done, software HeartBeam Ring agreement which on professional our consisted with HeartBeam essentially of and

year, costs support patented research submissions this VECG platform well XD Additionally, our in the FDA there products pipeline of in as for technology. as future from our both product are costs support clinical coming of vector our

December balances related and at cash the IPO tied stock November the XX, we notes convertible million added Other in XX, primarily as income to XXXX, equity XXXX In common were of of ended year during from the $XX,XXX XXXX. expense, note converted to largely XXXX XXXX and had of IPO. $X.X December to the These the accounting.

fourth loss $X.X for to period. of of $XX and to $X.X million Net the fourth XXXX net in the the compared quarter compared XXXX million for a $X.X loss year-ago XXXX full for the million was quarter million year of

our having compared cash product We proceeds million fourth XX of accounts in to IPO $X.X million Most of accelerate cash with short November in ended XXXX, $XX.X and XX, from December of to equivalents is quarter the cash tied the the liquidity potential path. as maintained the invested bank XXXX term investment problems. not development to

noted publicly in ourselves in inflection statement. point is marketing And S-X are AIMIGo plan that have product VECG registration IPO we seeing as our the our a finance using of we the XXXX personalized standard display through with technology. to seen, today registration As you our to XX-Lead XX-Lead simulation next patented to clearance physician a by with a ECG HeartBeam FDA statement, used

thoughts. will now some call over closing the turn I Branislav for back to

Branislav Vajdic

Rick. Thank is Indeed, you, ours true technology. a platform

developed or to for have the we submitted product. soon either that the submitted AIMI, FDA, far, two So AIMIGo to FDA are in HeartBeam the case the of be already HeartBeam to products

The wearable recent the cleared Halo+ LIVMOR LIVMOR also continuous intellectual as is purchase US well. three arrythmia patents, prescription property, LIVMOR's has atrial first products FDA to HeartBeam fibrillation the brought and monitoring. the Halo+ technology, cardiac world's asset including for including

to operate advance continued quarter, development fourth we of strategic near-term the to and equipped from strength, milestones. position product partnerships a During with

with for the IP heart recently from XX-Lead electrocardiogram ECG arrhythmias well. a for transformation complex patent attacks new patents most signal and monitor vector of our intended smartwatch-based for strengthen European to continue a the granted, cardiac XX-Lead ECG and patent detection with to We as

three also United We asset acquired States of our as purchase. LIVMOR part patents issued

priority of All and our technology in of provide our these global intellectual enhance markets. property protection

us. pipeline, looking artificial of that to application we that, the the will of great intelligence at Beyond be product think value

additional or will set tremendous data We have their daily, ECG recorded standard insight a That of very richer who that population of ECG, monthly patients for disease we Applying data will have patients. and yield, believe, weekly set a cardiovascular patient to extremely be unique our value. longitudinal than on data cardiovascular basis. data actually intelligence strongly the help rich, artificial into this will is much further XX-Lead

On XX-Lead is the right shown patch. slide side of this the

We have recently received a patent for technology. that

on has with XXXX. because market, the a pleased industry $X.X a that is that to have very We whole. significant the disruptive as year addresses technology a This potential PET large development the at influence billion very it are a projected by

Looking product milestones. upcoming ahead, we our anticipated remain confident in

expected a include path milestones the on HeartBeam for next both initial FDA the bolstered and and goals. the from Medical as future. Our near team, in Fitzgerald AIMIGo these as of clearance ECG with strength of approach by to for Eno XD vector recent milestones commercialization these appointment Chief experienced FDA We Rob Peter position Officer AIMI, submission the product HeartBeam President an support

I'd like to share a final thought.

that of attack the will prospect all helping we of and all cardiovascular heart diseases believe XX-Lead patients, ECG. but address are very are a initially about millions technology millions essentially detectable We excited patients, by our cardiac

So to exciting that's us a for many very world. prospect the throughout helping of be and motivator patients a millions great

our I look you forward toward move Thank commercialization. further with for near to updates attending. in the we providing all as shareholders term

Operator? now, would to HeartBeam And answer team your questions. the like

Operator

Instructions]. [Operator

with Our Kolbert from first of comes Dawson question James. Jason the line

Jason Kolbert

over talk lot IP, HeartBeam it My is to got they're first you little the a you recent many that come acquisition. was Can of question about you bringing to I what have those regarding of company? think know lot had bit a but also a the really folks intellectual I how capital. of and

Branislav Vajdic

so because acquisition the AFib into company form patents. these addition presentation And we an to the get AFib market. detection. This point are the of IP covered we've incredibly this very entry patents, with really good an give start is we They three into in the they incredibly in three head the us our fast the have wanted into. of of significant Yes, aspects far

because have all acquired and have we these a we have that the the LIVMOR. the developed three we patents, sense, in has Halo+ FDA platform, key platform in completed that this Xhave cleared have that, whole people Beyond product, circle the we we have we have technical the now that team platform. for And technologies developed whole way

about So we mean this what it acquisition are the very will and of HeartBeam. excited for future

Jason Kolbert

in in like commercialization feel support manufacturing to terms its and that. of terms HeartBeam managing kind associated versus that on does software there drill that down hardware? helps even whole the How down a you of And I'd break is of with component process? that efforts hardware

Branislav Vajdic

they is Samsung in a based on of – so-called the developed – is Watch. sensor, technology LIVMOR case of integral PPG which part

of platform all of value the ownership What now the plus the is, source so, that from us full we for of And components the that have previously cleared we a and is LIVMOR used the Samsung. real Halo+ and codes it licensed the modify has comes ownership it, FDA the hardware to full product. extend ability with and

and main around the the So, team. centered software, points value intellectual property are

Jason Kolbert

you're here? the clearly, on because, generation in good something On where make side position you that AIMI current revisions next manufacturers changes, your feel the product you manufacturing there's contract is that a can with side,

Branislav Vajdic

Yes.

For Evolve capable of of that's and production our engaged have thousands tens clearly willing of and our producing initial goals, we Manufacturing, devices.

with current and reducing because down. driving units, four that the incredibly And Initially, we several are even We Ring on to And plan reduction they're these cost project, not they are Triple times to down have cost in Evolve costs teams working effective. cost. five the good curve really further. go times, our we with

Jason Kolbert

with what that that. Yeah, you units, value as for sense not a to have scale. [Technical is team that's hard understand people to looking to know – Difficulty], to And the makes you a concept, but going and down a Branislav, get that when you that it's was and in add business you that's having but you it get lot you cost the a up already have pursue I it's who come point haven't exactly for, been done of

relatively standard six guess in a to I it And And the with that's with when both clearance. complete between short about pretty time and you gap the the My get last AIMI has to when question months. time industry. submission you and do FDA that's do gap, AIMIGo, and has

work for well, time as is right? You have that should that confidence you that review

Branislav Vajdic

interaction very a the FDA. with close have we Yes,

perhaps another that have a and can on unpredictable It We just than with we the interaction longer And case, say. has confident But season, productive. process is And a positive. all extended holiday that's we on. and included the remain results so in completed meeting our much I it's very them be and an will process. that bit expected. very so And been a

the and remain this we for AIMIGo getting submit optimistic in of QX again, very year. clearance about the yeah, AIMI, So, of prospect

Jason Kolbert

rise there's of because a going a as successful of next you In terms this half be anticipate you beginning of as that to the year now right? seems second correct? be SG&A commercialization into the critical That's clearly year, to spending financing, look and in

Branislav Vajdic

you maybe Rick, Yes. want comment this question? to on

Richard Brounstein

obviously, the And we registration have only not have course, in of S-X as place, ATM we the the Absolutely. but facility. works it out, S-X

So ability need. as of bridge sort we to we have ourselves

I think short-term deal $X most gives for million. people did that saw Maverick with capability a we us a

we're times, but So clearly capability can ourselves, moderate think in we challenging done. the get we these It's we to things careful. have and

Jason Kolbert

I a some towards comment you capital the was exactly gun so don't to, ATM syndicate raise. Right? a forward offers out you. at successful build pointing looking that kind bit breathing That's you room, a that have of of bridge a and The can is a you

Richard Brounstein

Yeah, absolutely.

Operator

Our Company. next question comes Bill from Benchmark the line The with Sutherland of

William Sutherland

I was patent commercial to point if stage. for a path the wondering to ideas at and that patch the intrigued on with live any this preliminary the about there's get

Branislav Vajdic

look more and value product patch we invention the – we this – of for at extremely will more well of the realize this two the we the HeartBeam. have patents future actually technology The that protect Yes.

projected product that attractive. in prototype, market we this needed end year seeing time are that real. this XXXX. realize we money to now, our of a by And with to to develop and some terms right be very $X.X stands very billion of it And estimates arrive are is about is ability As the the

to any doing is under start consideration. everything But at of seen does may have being the date later, potential we it's But concrete with with point, So put patch than terms a effect for we the of cap the this market like this are direction the which well-established sooner rather value projects. what instead company have it we pointing not really seeing leader. disruptive $X market billion and these

William Sutherland

comparison. Interesting

you very going that AI be some you're other fascinating work monetization – development. development elite how to or Is might being product is data benefit and an quite the analyze kind? the And that from of The able curious to with.

Branislav Vajdic

go very but which set The only data of value, to technology strongly and heart such XX-Lead not we set, well reacting be ECG. actually, because actually parameters predictive an we attack, a the an huge, provide will of increased to applying believe, powerful, for beyond we that data component event, parameters, describing And our value as believe. this strongly will offering heart, have heart is ECG preventive patient's AI that

it of heart So, data patient, care that healthcare doing home, forward. that lives all at in right, now saving we the the on this But system, people to all, we thing for are hugely running our believe attack the dollars. right data and to going focusing right set right valuable basically or be saving reacting component strongly getting keep will

Operator

comes with line of Our the Ben from Partner. next Haynor Alliance question Global

Ben Haynor

I First off, call. you conference over Rob, meet what going But the excited are nice for to HeartBeam you to you about on what attracted and curious forward? was most me,

Robert Eno

to talk about that. Happy

in to technology technology to that, based game up. go aspects Just this with believe medical EKG could think XX into have absolutely technology, a bringing patients because technologies my joined and Branislav the in and to all be the I data and a able the I to years beyond potentially hands scale market, chance I believe being And get company around being and commercialization bring through able it's and and background, a new technology the VECG mentioned. XX-Lead changing that disruptive in I with

major healthcare going take to So and I amazing yet see way I address an addressed, forward. patients that been to a influence be going issue number is adequately in part it tremendous not a what as company has a lives, really of think

Ben Haynor

color or AIMI, other a with on could serve folks so? had AIMIGo you road quite Have if and of that potential down be Any few the products? discussions those, could the customers

Robert Eno

sure make I understand. Just that? repeat you can Sorry,

Ben Haynor

background, those? talking AIMI, role folks to you any of was potential [indiscernible] customers probably products. on Can any I you had clearly, your be you've color that that curious, AIMIGo, other about conversations could that talk with a the and just

Robert Eno

to It cardiologists. of absolutely itself them hospitals, the constantly of Yeah, VECG or XXX-year-old is And process I technology. off cardiography. what taught ago. never to had XX-Lead – XD EKG. very in strikes was a having it's medical loops It understand schools even a me is really decades also know space talk the took VCG physicians beyond that they what limited number difficult. because years standard is many process, to But studies, of hear in it a interpret number EKG benefits was And ago, show that vector but of

get take has to harness a a the bring and patients. it we figured out of excitement to that it way So, company ECG, lot

applications And concept of we or think different potentially for they kinds hands full of beyond of then the patients where hear XX-Lead describe that of can it. physicians all I a game in the lot of changing, a ECG saying and

with and with the the figure partner So, pleased I've willingness strategies studies, of us best us physicians, of very us, potential out excitement the both the sites technology. and helping early clinical terms help been the to to scale in

Ben Haynor

[indiscernible] to detection of the that And then, technology. commercialization are there? to trained your congrats like commercialize Or on from acquisition any AF the Halo+ there there. folks on plans the Sounds LIVMOR, kind about the what's system join immediately? decision on support Are thoughts

Branislav Vajdic

me let Yes, that question. answer

makes product. of AFib is have in for integration a of that, we And actually, what platform Halo+ established an acquired product, detection terms this with have sense system. our potential AIMIGo We

And AIMIGo integrated state with that does that of are can right? us have offering to we indications for as ECG. conditions a enable a things XX-Lead getting the Why sense? said detect before, AIMIGo will provide of watch variety ability to do And watch watch believe Halo+ XX-Lead there our FDA make to where a Well, from product, that ECG based. I an to so, outside a getting a full-blown the where that it through are normal, AIMIGo is are alert that's sort the you an consider the cleared of there working for

is And scenario double that higher by that very And probably referral degree physicians from what's et this much positives, In interesting in learned false will that alerted that of validated feasibility. here getting is watch, system they would that the it something believe case, with false AIMIGo reliable, if that not by have was mean many validation, this our get negatives, very under want, they cetera. be device. would you a this about

all makes is So in front much sense. of all, system. integration center very AIMIGo and system, integrated an potential that But

we still integration translate. So focused will integrated the an totally offering AIMIGo into and potential are on

Ben Haynor

anything lastly that questions the would you that definitely makes optimism were arising in you integration That there. there agency, your the just could areas interactions me, sound like then sense. common doesn't can helpful? the It you've be or provide And the for there's given any on any FDA characterize with timelines received? maybe questions in showstoppers just But

Branislav Vajdic

liberty rightfully much that, I'm top and would on cybersecurity, about at Well, the so. they level, really I focused detail are to talk say there. at not just

I with but as So productive all FDA. can I think that's as into much the all, interactions again, in go details,

Operator

session. And the questions we Q&A in webcast. via have dial our concludes now this will And

Unidentified Company Representative

your releases. can first AIMI will interesting beyond very and Our based you opportunities product on They asked, initial IP, next that questioner to several AIMIGo start the is pursue know would the what developing? planned you like

Branislav Vajdic

of and and that. center that development me commercialization efforts our is front AIMIGo Let of reiterate

believe the which is watch, we the to solution I here, As concerned, far our good news IP happen have is as a is ultimate here. deep incredibly portfolio including IP that

well players, have There presents XX-Lead not that's we XX-Lead the watch single device that a watch, and many covered intellectual to known our are watch. property ECG. really lead Right? with opportunity. any out You other other in near-term extremely ECG But your partnership for to focus. the a players well have don't there than do And a have be to able perhaps

going again, to not our list, partnership but, be that's very immediate development probably So on opportunities significant.

is Secondly, AIMIGo, factors, changing as considering little be AIMIGo very wise, card a it as credit presents, to, opportunities from a established device far would I are well there very is sized seriously as that but form we between alluded markets, HeartBeam that required concerned, the change to going patch technology patch.

So much that on radar screen. is very our

Unidentified Company Representative

the And Can a asked, shed a direction. RPM? somewhat is superior question this compared is go-to-market to direct strategy new some potentially of next you on pay why light

Robert Eno

of go-to-market Yeah, I don't a of first, to are refinement we can done identified could we identified certainly as we've solution what prescribe remotely discussed pay. an the And take we've one. number monitored physicians segments where that both for and of monitoring, who of additional patients. RPM strategy. that's system. RPM, a big remote think who is direct codes one but is the the know, describing willing the reimbursement pay market devices to those That's that market paid we've them, there's to existing also outside physiologic we're be for What number segments. entity what sized of are

shows to equivalent usage beauty gather the for data away And that the based, some others effectiveness. a XX-Lead slide. ECG, and in be cost standard value we're listed developing data we the are and we'll the clinical reimbursement that our to And more of on that these is then efforts establish those XX-Lead unique is the have data require And with be for that data of right value ECG, we based to start we that's the going code. same can a then useful but that

well more code. unique with strategy RPM So we've have own our identified as potential potentially obtaining of we result in as a to in than approach reimbursement segments market being value that term this the in HeartBeam think long an these alignment

Unidentified Company Representative

that our concludes And Q&A. webcast

Operator

would to I now the Vajdic Thank to you. remarks. Dr. for call back closing over like turn And

Branislav Vajdic

would to conference of MZ update you look were today progress continuing who to best. again, I more out you joining like growth. and reach unable would questions, each earnings to be our you to and the of Thank for happy your any answer to our ongoing we please forward on than our all assist. you, If operator. firm, IR call Group, Thank and thank to

Operator

your you and And participation. disconnect lines this your conference at Thank may concludes today's for you time. this

HeartBeam (BEAT) 16 Mar 232022 Q4 Earnings call transcript